It is such a relief to finally have your car paid off.  So, why is it that many motorists want to jump right in and buy a new vehicle? There are a few things to consider before taking the plunge. Make sure you have a good reason to purchase a new car or you will be making unnecessary payments.

There are several reasons that it may be beneficial to purchase a new car.  First, of all, if your lifestyle has changed, with the addition of children, you may need to look for a family vehicle to accommodate your new needs.  Second, if your current vehicle is a gas-guzzler, you might want to consider a car that is more economical.  Third, you might need a new vehicle if you are experiencing costs and repairs that are burdensome. However, an auto warranty will help you avoid unnecessary repair costs. Lastly, you might have a small car that doesn’t stand up to all of the big SUV’s out there.  If you’re feeling unsafe, you might want to upgrade to a larger vehicle.

If you’re simply feeling tempted by the alluring ads for new-cars, beware.  The flashy features, such as satellite radio and navigation systems may be hard to resist, but think twice before trading in your gem that is paid off.  After all, you get to pocket the cash that you were paying to your lender.  Now, you can pay yourself, not your lender.  Just make sure your old tried and true is covered by an auto warranty.  That way you can enjoy your vehicle for years to come.