Most standard internal combustion vehicles produce more than 4.6 metric tonnes of carbon dioxide each year (1). Not only can this have a negative impact upon the environment, but rising petrol prices are another very real concern. This is why many families are doing away with the multi-vehicle approach and have instead begun to rely upon a single car to meet their daily transportation needs. Let’s take a closer look at the benefits of such a strategy as well as the practical side of things.
Adopting a More Pragmatic Mindset
Families have begun to appreciate the maxim that “more is not always better” in terms of owning numerous vehicles. We are not only referring to ongoing maintenance and petrol costs in this sense. A growing awareness is being placed upon the environment and the simple fact of the matter is that owning multiple vehicles is hardly the way forward.
This is even more relevant when discussing families that reside within urban or suburban settings. While owning more than one vehicle was viewed as somewhat of a status symbol in the past, it has become increasingly inconvenient and the hassle might not be worth the initial temptation.
Investing in the Future
Depreciation is yet another real issues to address. On average, a car can lose as much as 20 per cent of its initial value after the first year (2). Owning more than one vehicle for an extended period of time could therefore become financially draining. As opposed to funnelling additional funds into older models, it often makes more sense to sell both in order to upgrade to a more reliable (and cost-efficient) vehicle.
Of course, placing two vehicles on the market simultaneously is a rather big step and a great deal of research will be required. It is first crucial to determine the value of each. Owners can then fully appreciate what they can afford as well as how their budgets will be impacted.
Sell May Car Essex appreciates that consumers require objective advice that cuts through the “fluff” before making such an important decision. This is why we are pleased to offer a free valuation tool that will display results within seconds. Simply enter your vehicle registration number in order o begin to process. Of course, it is always possible to contact a representative to learn more or to schedule a hands-on consultation at your convenience.
Sources:
1. https://www.epa.gov/greenvehicles/tailpipe-greenhouse-gas-emissions-typical-passenger-vehicle
2. https://www.progressive.com/answers/what-is-car-depreciation/
