In with the new, out with the old. How often?

A common question asked by many car owners is, “How often should I buy a new car?”

It depends on your relationship with your car. How attached are you to the car? Maybe you feel that it was a great buy, in which case you should be looking at great insurance and maybe a personal loan to cover a new maintenance plan. However, it also depends on what you want out of the vehicle.

Two-year plan

There is no real set time to buy a new car but if you want to drive the newest sleek machine on the market, you should trade up approximately every two years. That’s generally when the new or updated models are making their debuts and older stock is being sold for less.

However, if you want to change vehicles at intervals there are several factors that will influence your decision on when to purchase.

Do you want a car to represent your brand or business? Maybe you want to keep upgrading for those new safety or entertainment features that you feel is essential for your family car.

Three-year plan

Depreciation overtakes resale value. A car’s purchase price naturally dips the moment it is driven off the showroom floor; an unfortunate fact. Three years is about the time when the resale value of a new car starts to slide; it’s particularly steep in the first year but the dropping value starts to plateau in the second year. The third year is when the resale value starts feeling the impact. Sales professionals advise that you should look at purchasing a new vehicle when the value of your current vehicle starts depreciating and losing its resale value.

However, there are several factors that can positively influence the resale, such as: make and model, economy, brand, popularity of vehicle, warranty, etc. If you decide to go this route, then consult a Car Buyers Guide for the next steps.

Five-year plan

Warranty expiration. If you’re not interested in paying for parts and fixtures on a car that’s older than five years then you should consider a new car when your current vehicle’s maintenance plan expires. Many feel that if they are going to pay for a new warranty they might as well do it on a new car.

If you feel your current car is in perfectly good condition and can easily go another five years, then you can buy a new warranty plan to ensure you don’t have to fund any potential breakdowns, parts and unforeseen mishaps.

Lifestyle Plan

How you choose to live your life can play a major role in your car buying time line. If you have children you’ll no doubt be looking at upgrading to a bigger car every few years as the back seat passengers grow ever larger every day until they day they no longer rely on you. At that point you may decide it’s time to treat yourself to that sporty number or the one that lets you hit the open road.

When looking for car loans to purchase that new vehicle, insure your current vehicle, or renew your maintenance plan, contact Yes Loans for great deals and transparent packages.

The light at the end of the financial tunnel

Control your debt better before it controls your life

Having debt is considered normal in the greater scheme of things. For most of us it’s the only way we can pay for our education, homes and cars, or even start a business venture. You may have the best intentions to ensure your loan is paid off within the stipulated time frame, but when mismanaged, debt can severely hamstring your lifestyle, ambitions and future goals.

With the right management you can make debt work for you and use it to highlight your effective money managing skills. This will stand you in good stead with creditors, going forward. So where do you start?

Rework the budget

If you don’t have a budget, now is a good time to start one. If you already have a budget, then you need to reassess and make amends to meet your debt demands. Look closely at what your income is versus your expenses. Very often (not always) there are several things you can cut out of your spending such as dining out or takeaways, unnecessarily high grocery expenses or smarter usage of electricity, water and gas around the house. If you don’t do luxuries then perhaps you can relook at your insurance premiums, bank fees and mortgage repayments.


Loans don’t need to own you. Yes, you can negotiate lower interest rates on your mortgage, credit cards and even your car. Managing your debt also means keeping the lines of communication open with your creditors. Let them know what you can manage to pay off and how much per month. Negotiate figures at every turn. If creditors see that you are making every effort to honour your monthly repayments, they are more likely to be open to negotiations when they see you need the assistance the most.


When faced with lots of bills and calls for payment of those bills, it’s easy to become frustrated at which bills to pay with the little bit of money you do have. Professionals advise you to focus on the more significant debts such as your home and car loans. It is essential to adequately manage these debts closely. But, that still leaves you with smaller debts that may appear of less importance, but are still important nonetheless. So, how could you potentially address all the bills at once?


If you’ve negotiated as best you can, but find yourself still struggling to meet your obligations, then perhaps it’s time to reach for a life boat. Drowning in debt is debilitating on an emotional level and if you can’t see any way out of the situation consolidation may be your best solution.

This entails taking out a personal loan to pay off all your debts, leaving you to only repay the loan every month. The right loan structure could  see you achieving a lower interest rate, more flexible repayment terms, and a working with your income and budget structure.

Get in touch with Yes Loans today. Once you have a firm grip on your finances, you’ll be back in the driving seat and feel like you’re in control again. You can finally manage your money as opposed to your debtors managing your life.