The next time you attempt to buy a car, you’ll likely be overwhelmed with potential options. That’s because there are more upgrades and extra features than ever before, and many of them are superficially attractive.
But are these high tech car upgrades truly worth the money? And how can you tell?
Feature and Upgrade Overload
You’re not alone if you’re asking, “What must-have features should I consider when buying a car?” Buying a car is already stressful, and things get even more complicated when you throw features and upgrades into the works. Depending on which type of car you want to buy, you might be forced to choose between hundreds of different possibilities, building exactly the car you want, even if you aren’t sure what you want. To make matters even more stressful, your choice of upgrades could change your expected price by thousands of dollars or more.
Undoubtedly, some of these upgrades are worth the money, but others are probably not. So how do you choose between them and pick the right model of car for your needs?
The Subjective Nature of Value
Before we dive into this subject any further, it’s important to note the subjective nature of value. The upgrades that are worth the money to one person might not be worth anything to another.
As a simple example, consider a regular commuter who lives in northern Minnesota and the contrasting opinion of a man from southern Texas who typically works from home. Which of these people would consider upgrading to a heated steering wheel for a few hundred dollars? Which one will be willing to pay more for it?
Don’t be afraid to examine and factor in your subjective preferences as part of your calculations.
Determining Your Budget
You also need to think about your budget when making these types of decisions. If you’re buying a cheaper car than you can afford, you’ll have some extra wiggle room when it comes to splurging on upgrades. If you’re already stretching your budget to the limit, very few upgrades, if any, should be attractive to you. Just because an upgrade might be worth the money on average doesn’t mean it makes sense for your car.
Types of Upgrades That Are Often Valuable
With that in mind, these types of upgrades are often valuable, justifying the extra money for many types of buyers.
· Safety features. Never underestimate the importance of your own safety. Improved safety features for your vehicle, such as backup cameras, assisted parking, and autonomous driving features, can greatly reduce your risk of an accident, which can hypothetically save you a lot of money and possibly even your life. Accordingly, many features that measurably increase your safety are worth the extra investment.
· Durability/reliability improvements. Similarly, some types of upgrades can improve the durability or reliability of your vehicle. Even something simple, like upgrading the tires, can give you more control and reduce the possibility of maintenance issues – or dangerous situations like blowouts.
· Extra space or storage. Not everyone needs extra space or storage in their vehicle, with the people who value it should be willing to spend extra money on it. Having more room for cargo might make a massively positive difference in your life.
· Convenience and accessibility. Similarly, some people want access to convenience and accessibility features, making their lives easier by saving time or eliminating certain annoying problems. For example, most people enjoy having a remote start option.
· Personal comfort (in some situations). And, of course, you might subjectively prefer upgrades that provide you with personal comfort. Customizable seats, built-in heating, and similar upgrades can make your driving experience much more pleasant.
Making Your Own ROI Calculation
For each possible upgrade, consider the return on investment (ROI). Essentially, this is an equation that balances the costs of a given investment against the potential beneficial results of that investment. It might cost you a few thousand dollars to get access to assisted parking features, but how much is that going to improve your quality of life? How much time is that going to save you? How much stress are you going to prevent?
It’s not always easy to objectively calculate the value of abstract ideas like these, but you’ll need to make an attempt if you want to be objective and rational in your decision. What’s important is that you consider both the costs and benefits of each potential upgrade on your radar.
Not every add-on or upgrade is worth the money in your vehicle. Sorting the wheat from the chaff can be challenging, but it’s possible if you’re willing to examine the options as objectively as you can.
Filed Under: Auto News, Guides
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