Should I Downsize My Car?

Sometimes bigger isn’t always better, and there are many reasons why downsizing to a smaller car may be the right move for you. From significant lifestyle changes to environmental awareness and everything in between, downsizing to a smaller vehicle can provide practicality and peace of mind. The latter you simply can't put a price tag on.

Let's explore some of the reasons why it may be time to downsize to a smaller car!

Embracing a change in lifestyle

As we enter different stages of life, it is completely normal to experience lifestyle changes. For example, what you need when you are single is different from what you need when you have a young family and different again when you reach the golden years . Let's take a look at some of the most common lifestyle changes that may warrant downsizing your car.

Your Children Have Cars of Their Own

When you are shuffling children between school, sports, after school activities, birthday parties, etc., you need a larger car that can comfortably accommodate everyone and their gear. How about going on holiday? You definitely want to make sure everyone's luggage fits. However, once your children are old enough to drive and have vehicles of their own, chances are you will not be driving them around as much. You may find that you no longer need a massive family vehicle and that most of the space goes to waste.

Work-Life Changes

Maybe part of your job requires that you use your vehicle to haul equipment needed to perform your job. A change in job roles may mean that you no longer need all of that space to carry your work gear. In this case, you can now consider downsizing to a smaller car that better fits your current work situation.

Entering the Adventures of Retirement

Often, retirement means a shift in budget and lifestyle. You may want to enjoy activities that you weren't previously able to do due to work commitments. Many retirees enjoy travelling extensively to visit new places and catch up with the family. If this is you, a smaller car can be typically more cost-efficient and easier to drive. Downsizing can free up money that you can now use to do all of the things you dream about and a smaller, lighter car requires a little less effort to manage.

Moving to the City

Parking and driving are typically not an issue for those who live in rural areas. Roads are spacious, and parking lots are accommodating for larger vehicles. However, moving to an urban area with a higher population may mean narrower streets, tighter parking and smaller garage or off-road parking. A larger vehicle can be difficult to navigate and park in more congested areas, making the switch to a smaller car more practical. Not to mention, sitting in traffic is more cost-effective and environmentally efficient than in a larger vehicle.

Larger vehicles are more expensive

Generally the larger the vehicle, the more they cost to buy, to look after and to insure. First, larger vehicles are heavier making them typically less economical compared to smaller vehicles. Secondly, for a similar price, you upgrade to a brand new or nearly new small car for the same outlay as a second hand bigger car.

Fuel Costs

Due to their size, smaller cars use less materials and run on compact engines. This makes them lighter and more fuel efficient. While EVs and hybrids use no or limited fuel, the purchase price of these types of vehicles can be considerably more than similar-sized petrol vehicles and if you buy one second hand, the cost of replacement batteries can be significant.

Insurance Costs

As larger vehicles typically cost more to buy, insurance premiums are higher to cover the cost of damage or replacement. When you opt to drive a smaller car, the insurance costs are usually less and there’s a little more money left in your budget to spend on other things.

The Cost of Maintenance

One of the other main benefits of owning a smaller car is the lower cost of maintenance. Components that wear out and need to be replaced such as tyres and brakes, tend to be easier to find and cost less than those for larger vehicles. Of course, the availability of parts also plays a significant role in their affordability. For instance, the popularity of Japanese vehicles in New Zealand means there are more parts available around the country and this helps keep the price down.

Affordability of Buying Brand New Over Pre-owned

When looking to upgrade your car, you can normally buy a brand-new, smaller car for the same amount of money as a larger used car. By downsizing to a smaller vehicle, you can get the benefits and peace of mind of driving a brand new vehicle with the latest safety features, modern conveniences, and, most importantly, a full manufacturer's warranty. Also, under normal use conditions, you will enjoy minimal outlay for repairs and maintenance for the first three to five years.

As if it couldn't get any better, you can choose your favourite colour, model, and any accessories and features you want to have. It really is a win-win.

Shifting values

We never stop growing and evolving, no matter how old we get, and you may find that your viewpoint on what's important is changing. With these changes in values, driving a large car may not seem as essential as it did before..

Car Emissions and Social Responsibility

Maybe you have a growing awareness of climate change and have an eye toward preserving our environment. Larger conventional petrol vehicles consume more fuel and emit a higher level of emissions into the earth's atmosphere. Alternatively, downsizing to a smaller traditional or hybrid car means less fuel consumption and fewer emissions. This contributes to the reduction in greenhouse gases and gives you peace of mind that you are doing your part to protect the environment for generations to come.

Performance Needs

Sometimes, you simply don’t need as much performance as your current larger vehicle offers. If you’re starting to realise bigger isn’t always better, downsizing from a 2.0 to a 1.6L engine can require a little compromise on your part or if you switch to turbo efficient technology such as the S-Cross Turbo, you can have the same performance as a larger engine with the fuel efficiency of a smaller one.

Making the switch

From lifestyle changes and value shifts to saving on costs, there are several reasons downsizing to a smaller car may be right for you and your next phase in life. Get your Guide to Buying a New Car today and see the possibilities for yourself.