There are many reasons you might be looking to downsize your belongings, such as wanting less clutter or just needing a change, but before you start the spring cleaning process it may be a good idea to start with some of the larger items in your life such as your car. Buyer satisfaction with vehicle purchases has been slowly decreasing each year, with more and more recent car buyers looking to downsize their original cars within 2 years of purchase.
There are so many people that buy a bigger car than they actually need under the premise of, ‘just in case’ and then realise the extra room goes to waste as they don’t ever use it. Although the perception generally seems to be that ‘bigger is better’ when it comes to safety, with the increase in technology, many of the newer cars are getting higher safety ratings than we’ve seen previously. New car owners, in populous states, such as New South Wales and Victoria are 50% and 47% (respectively) more likely to get a smaller car as opposed to a bigger car. So what are the benefits of having a smaller car?
Lower Running Costs
The running cost of a smaller car is considerably cheaper. Downsizing to a smaller car can put you in a better financial position, allowing the saved cash to be used for other investments. There are also many unexpected costs that may arise with owning a car. New tyres, broken windscreens, mechanical faults and engine problems are all things that are hard to predict as to when they may occur. Depending on the model, smaller cars generally require a lower cost price to fix faults than can be seen in larger makes and models.
When taking into account the costs of running a car, there are a few different factors that must be considered.
- Cost of petrol as well as fuel efficiency
- Insurance Costs
- Maintenance costs
- Taxes such as Stamp Duty
It’s important to remember the costs of all the above factors differ significantly depending on the size of the car. If you were to compare the costs of a small vs big car on a weekly basis, the differences may seem minimal. However, over a long period of time, the figures can really add up. To truly understand just how much a new or even used car purchase will cost you, the expenses should be considered over the period of intended ownership rather than a smaller weekly expense. Individuals who choose to sell their bigger car for a smaller car can save themselves around $60 a week or $3100 per year.
Driver Accessibility and Ease of Use
Bigger cars are harder to park, it’s a simple fact. If you’re in rural areas of Australia this may not pose a problem for you, but if you’re primarily in and around a city this is something that should be heavily considered. How often have you been driving around in the city and saw a car park spot ahead only to realise as you drive past that your car is too big for it? There is more room to maneuver around with smaller cars, and you can be sure to fit in every parking spot. With small cars, it is also easier to observe what is in front of you, behind you, and in your blind spots at all times. Smaller cars are also great city cars. Cities are known for small lanes and narrow streets with parking on either side. With smaller cars, you can often get where you need to be much quicker, without any detours.
Still rather not get stuck with any unexpected car costs at all? It might be time to try using a car subscription service like Carly! With Carly, you can just pay a weekly fee and we’ll take care of the rest. Insurance, registration, maintenance costs – we’ve got all of that covered for you.
Change in family numbers and really need that extra car space? Not a problem, just switch your smaller car out for a bigger family-friendly SUV for free – a monthly car change is included within your subscription package Js.
Get in touch with us today to see if subscribing to a car may work out to be a cheaper and more flexible option for your needs.