How Many Years Is Reasonable to Change Cars?
2 Answers
Generally, it is most appropriate to change cars every 5-8 years. Currently, cars are typically updated every 4 to 5 years, with minor facelifts occurring approximately every 2 years. Here are the specific scenarios for changing cars: 4-6 years: Mid-life stage, the car warranty has expired, and some parts are starting to age. At this point, it is easier to sell the car, and the loss is minimized when trading in for a new one. 5-8 years: Mechanical wear and tear can lead to a surge in maintenance costs, and the depreciation rate of the car's value will be higher. This is the best time to change cars. Over 8 years: Severe aging of parts results in excessively high repair and replacement costs, making it difficult to sell the used car, leading to significant losses.
I usually change cars every 5 to 6 years because the vehicle depreciates the fastest in the first three years, with a depreciation rate as high as 50%, which then slows down. However, after five or six years, maintenance costs start to rise, with expenses like tire replacements, brake pads, and major services accumulating, sometimes costing thousands a year. In the used car market, cars that are 5 to 6 years old still find buyers, but those over 10 years become hard to sell. Considering the broader economic environment, savings or loan interest rates, driving a new car with warranty in the initial years offers peace of mind. I once experienced an engine issue with an older car that cost over ten thousand in repairs, making it more economical and hassle-free to replace it sooner. Planning the budget in advance and adjusting for income changes helps avoid the burden of major repairs. Overall, this timeframe balances value and practicality.
