Are you thinking about investing in a new vehicle? There are a few reasons why buying a new car right now is always going to be a mistake. Here are some of the key considerations to keep in mind. 

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Depreciation 

Forget about right now, buying a car can always be a mistake. The main reason for this is depreciation. There are very few things that depreciate as quickly as a car. As soon as you buy one, you immediately lose thousands that you are never going to get back on the future sale. The only way to avoid this is by purchasing a classic vehicle and keeping it in mint condition. This just isn’t going to be an option for the typical buyer. You might think that a second hand vehicle is the best alternative. However, these can cost even more money because they can have lots of issues that are expensive to repair. It’s just one of the reasons why personal vehicle leasing could be a smart choice. 

With this solution, you can get a high quality vehicle and avoid the issue of depreciation completely. 

Changing Trends 

There are big trends that are leading change in the car industry right now. Specifically, we’re thinking about the changes that involve hybrids and EVs. It’s unlikely that petrol and diesel cars are going to be the main part of the car market for much longer. EVs and hybrids are going to take over as the most popular choice. This is going to be further enhanced by governments make it less financially friendly to own a gas guzzler. You can expect issues with taxes and penalties in the near future. 

You might think this means that you should buy an EV or hybrid right now. However, we’re not so sure. When this does become the most popular option the prices of these vehicles will crash. Right now they are still quite expensive and cost more than the average petrol car. 

What’s Driving Anyway?

You might have also noticed that you are driving less right now regardless thanks to the COVID pandemic. Those hoping that this was going to vanish as soon as 2021 hit were sadly mistaken. Even with a vaccine on the market, the virus is lingering and seemingly more dangerous than ever. Some researchers are also preparing for the possibility that highly contagious viruses could be the new norm. That means far less travel. 

Wait For The Self Driving Vehicle 

Finally, you might want to wait for the vehicle that drives itself. While this tech does already exist on the market in some form, it’s still in the infancy stages. It could be worth waiting for a little longer until the kinks have been ironed out. Eventually, these cars are going to be able to drive themselves in virtually any situation. But we’re not quite at that point just yet and you don’t want to invest in a self driving vehicle when the real deal could be on the market in the next few years. 

We hope this helps you see why buying a car right now probably isn’t the best move for your finances.