For consumers that own older cars, there will one day be the inevitable question as to whether or not to fix the vehicle when it breaks down or buy a new one. As a car gets older, it will break down more often than when it was newer. Routine maintenance costs will continue to increase as the vehicle’s value depreciates. Eventually, you will need to decide on the pros and cons of continuing to fix the car, or simply selling it or trading it in and buying a new one. Below are several reasons why it might be a good idea to move on from the vehicle and invest in a new car.
Is your vehicle always breaking down or having issues? Do you feel you are rolling the dice every time you try to start the engine? Having reliable transportation is priceless and when that reliability fades it begins to force one into thinking about buying something new. If you are having trouble picking up your kids, going to work, and meeting your obligations, you may have to upgrade your vehicle regardless of the repair costs associated with it. Getting from point A to point B consistently without any issues should be the norm, not a fluke.
Repairs cost more than actual vehicle value
This is a common occurrence with older used vehicles. The car breaks down or needs maintenance and you are told by the mechanic that it’s going to cost several thousand dollars to fix when your vehicle isn’t even worth that much. What do you do?
Seriously consider looking for another vehicle. Use the money that you would have spent on repairs could as a down payment towards something else; newer, nicer, and more reliable.
Does your old used car have steering issues, shock issues, or leak any fluids? Do you smell burning oil when you drive it? Eventually, a vehicle gets to a point where it’s no longer safe to drive if you haven’t properly taken care of it. You will have to decide if continuing to drive the car is worth it; especially if you were to get into an accident. If you are a mother or father with kids, keeping them safe is a top priority, and you are going to want a vehicle that’s going to protect them.
Have you simply had enough?
Maybe your car hasn’t broken down, but little things keep going wrong with it. Eventually one day your power windows and mirrors stop working and you’ve decided you had enough! If this is the case, it may be time to look for a new vehicle. Drawing a line in the sand and saying “no more” is an incredibly motivating thing and sometimes all it takes to push someone to take action when it comes to replacing their vehicle.
If you are going to be paying for your car, whether by paying for its repair or by making car payments, wouldn’t it make sense to at least pay for something that is reliable and that you enjoy driving? Keep this thought in the back of your mind before you fork over thousands of dollars to fix a vehicle that you should replace.
If you’re in a situation where keeping a car is costing you more than getting rid of it, feel free to contact us to sell or junk it. We’ll have the headache removed promptly.