When many people look at economy cars, they often decide they need to go with something bigger. However, the bigger car is usually far more expensive, and the need for that car may not be as important as they think it is. Here's why staying with an economy car is a good option.
Compare the Costs to Own Cars
When you're looking at different cars, a truck or SUV will cost far more than an economy car. That includes not just the purchase price but also auto loan interest, maintenance, and gas.
You'll need to research prices and do the math, but let's say, for example, that the cost to own an SUV for the next five years is $50,000 and the cost to own an economy car is $25,000. That means going with an economy car saves you $5,000 per year.
You Can Rent a Bigger Car When You Need It
Many people buy the biggest car they will ever need. That might be for a couple of home improvement projects per year or when their family comes into town.
You don't always have to drive your own car. If you have an economy car and need a truck or minivan, you can rent one. If you think you'll need a bigger car, make an honest assessment of how often you'll need it. Then look up rental car prices and see if that adds up to less than what you can save by choosing an economy car.
You Can Pay for Deliveries
You also don't need to bring home big purchases yourself. Yes, there will be a delivery fee, and those fees are usually what makes people think they should upgrade their car.
Again, you need to do the math. How many delivery fees would you actually end up paying every year?
You Can Rotate Cars
If you're a family that drives multiple cars, you can rotate which cars you use. For example, say you do need a bigger car to accommodate frequent trips with your entire family. That doesn't mean both of your cars need to be that big.
It's actually common for families to have one economy car and one minivan or truck. You then figure out who needs the bigger car when. On the days you're just commuting for work, the person with the longer trip takes the car with better gas mileage.
For help exploring economy car options, contact a company like Gary Rome Kia.
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