Why some change cars early

[happy1]

Hi,
Some crazy examples have been mentioned above, such as expensive personal loans, parents telling kids to upgrade their car when they can't afford it, and young guys over-spending all their income on fancy cars.

When I was younger I spent a lot on car parts and trading cars. (bought wrecks, repaired them, sold them without too much profit) It would have been more economical to keep ONE newer car, and keep it for longer. Many of my Fords have needed constant repairs. (Fiesta Mk2, Escort Mk3, Sierra). I have saved on doing the work myself, and learnt mechanical skills from it, but for someone needing to call a mechanic it would have been a disaster.

While it is tempting to buy a brand new car from the showroom, it is always better economy to get a second hand car, where someone else have had the initial loss.
For example if you buy a 3 year old car for 15k - 20k, and keep it for approx. 4 years, then there shouldn't be any repairs needed, and there will still be some value left when trading it in or selling private when getting the next car.

Cheers,