Upgrading the family car anyone??
Have been looking into when people upgrade there cars and the reasons for doing this.
Knowing some information on this helps me to assess electric vehicle company claims on what they think there sales figures penetration into the market would be in 2020, I believe a lot of people like to change between 3-5 year mark for the below reasons and comparing that to family, friends and colleagues it seems reasonable that if you bought a car a year or two ago by 2020 if electric vehicles are competitive (mileage, price, recharge) why wouldn't you buy one.
Reasons people upgrade cars
-Factory warranty runs out +/- 3yrs
-New look/features
-100,000km mark when the big services are due (4-8 years)
-when the balance of finance equals the trade-in value
-Newer safety features
-better milages
-every 3 years when the lease runs out (people with leases came up a lot)
-family changes ie. kids etc
-when the previous car is almost dead (long term)
-maintenance costs are more then the value (long term)
-bored with the car after 2-3years (found boredom a lot)
-trendy (I've met plenty of people who can't afford to upgrade yet do because it's trendy and finance approval is easy)
- 5-10 years when you think you have value out of buying your car (my category)
-company cars having a new lease every 3 years keeping the company looking fresh,updated and profitable (very big in Australia)
-upgrading because the car is better for the environment....(I rarely seen this online but I'm sure a few of you are out there
...ha)
These don't include why people get an electric vehicle (recharge of power, green..etc) but when the price is getting marketable people will go that way because it sounds awesome and it's new and trendy.
When would you upgrade your car?
Is leasing cars big in other countries?
Cheers.
