For many families, a car is a non-negotiable part of everyday life. Much of America is built with cars in mind, and so deciding on your preferred method to stay on the road is a matter of “how” and not so much “if.” For some people, daily transport is going to come in the form of a new or used car, and for others, repairs to their current vehicle may be in order. But how do you know when it’s time to call it quits on your current vehicle because it requires too many repairs? Here are some good reasons to stick it out and try to keep fixing up your current car rather than buying a new one.
Lower Overall Cost-Most of the Time
If you are faced with an expensive repair, it can be easy to say, “That’s too much! A new car wouldn’t need this work!” And sometimes, that will be true. However, remember that even something like $2,000 now is much cheaper than the total cost of even a used car. Think about how much your monthly payment was when you were still paying off the vehicle. How many months would $2,000 take to pay off? Is that fewer months than you would take to pay off a newer vehicle? If so, the repair is still lower cost than buying new.
Increased Convenience, No Selling
There is no doubt that the process of buying a car is itself stressful and time-consuming. This is especially true if you are buying used or if you want to test drive one or more vehicles before you commit. Then, of course, is the process of selling your old car too. You will need to meet up with people, list it online, clean it up or maybe trade it in. Transferring the title usually requires both people to sign it and take it to the Secretary of State-which is notorious for being busy. All of this work can be avoided by simply investing in repairs for your current vehicle to keep it on the road.
No Changes to Your Insurance Premiums
Buying a new car changes more about your life than just the vehicle that is parked in your driveway. New cars-as well as some specific types of vehicles like sports cars-are considered higher risk to insure. This could be because their value is higher earlier on in their life cycle, because they are associated with more accidents (in the case of sports cars) and other factors.
You know how much your car insurance currently costs with your existing vehicle. Buying a new one requires you to calculate not only the cost of the vehicle itself, plus any interest if you choose to finance, but also the increases that you might expect to your insurance. This is often a sort of “hidden” cost of choosing new over repairs that most people do not think about until their monthly bill goes up.
Confidence in the History
Regardless of whether you are considering buying a new car from a dealership or a private seller, you will need to consider the history of the vehicle. The only way to be sure that a car has been treated well before you buy it is to purchase brand new off the lot from a dealership; these cars usually only have a few hundred miles, attributable to being driven around the dealership or for test drives. Buying used from any part means that you do not know the full history of how the vehicle was treated-and you could end up paying the price for poor care.
Has a car skipped out on important oil changes for most of its life? Did someone try their hand at a repair that has held up until now-but only barely? These sorts of things may not come to fruition until after you have purchased your new car. However, you know exactly how you treated your current vehicle and what sort of big problems may be coming down the pipeline in the near (or not so near) future.
Trust the Auto Repair Experts to Help You Keep Your Vehicle in Good Shape
Choosing whether to fix up cars that you already own or commit to a new one can be a difficult choice. The good news is that auto repair experts can give you an honest overview of your vehicle and how to keep it in great working order for as long as possible. The professionals at Robs Customs & Restorations would be happy to help you keep your current vehicle in good repair. Reach out to schedule an appointment to get started.