Signs It’s Time for a New Ride | St. Johns Bank
So, you think your car may be in its last miles but you aren’t sure if it’s really time for you to make the move to get a new car. After all, the wheels haven’t actually fallen off yet, and isn’t that supposed to be the rule?
With advances in how cars are made and how they function, Americans are keeping their cars longer, but that doesn’t mean your ride will last forever. It can be hard to figure out when too long really is too long, but there are some signs you can look out for.
When You Should Trade Your Car
You’re financially able to carry a new loan payment. If you’ve paid off your old loan and taking out a new one would mean taking on a new payment, this is the most important consideration. Defaulting on a car loan can be a difficult and painful process, so be sure you can handle the expense of the purchase. Our financial experts can help you make that determination and find financing that works best for your situation.
It’s costing you more to repair than it’s worth. From persistent, minor issues to major issues, such as transmission replacements, an aging car can be a money pit. If it costs you more to keep yours going than it’s worth or even more than the payments for a new car, this is a good sign it’s time to make the move.
It just doesn’t meet your needs anymore. This could be because its constant issues mean you can’t rely on it and your mechanic spends more time in it than you do. Or you could have started a family since you got your current vehicle. Whatever the reason, if your car no longer fits your life and you can afford the payments, go ahead and look at your options.
You want some of the benefits of modern tech. Cars have come a long way in recent decades and even just in the last few years. From safety features, such as advanced airbags, to ones that make driving safer and easier, including self-driving features, to huge advances in fuel economy, there are plenty of attractive features in cars rolling off the line now.
If it’s time for you to make a trade, St. Johns Bank has the car loan you need, with great rates that make it easier to get into the ride you want. Give us a call today and schedule an appointment to talk to one of our loan experts!