Cars have become a necessity nowadays and people usually add vehicles as a significant part in their financial plans.
Key factors to consider when deciding to upgrade a car include a shift in lifestyle, low performance and efficiency, environmental concerns, and depreciating resale value.
A shift in lifestyle may require a bigger car or a more compact car based on parking availability and number of occupants.
Low performance and efficiency, coupled with expensive repairs, can be a sign that it's time to upgrade for safety and reliability reasons.