Should You Buy A New Car Or Keep Fixing Your Old One?
In today's economy more people are opting to keep their older cars and have them fixed. For some this is easier than going to the expense of a new car payment. Used cars have larger payments also and in many cases your old car will give you better performance if you keep up with the maintenance.
If you are wondering whether it is time to stop fixing your old car the answer to this question really depends on you and what you decide you want. For many people having an old car that they can nurse along with a good auto mechanic is a better deal than buying a new one. Other people would rather have a new car and take it to an auto repair shop for regular maintenance. There is no right or wrong way to handle this situation but there are many issues to consider.
What's Wrong With the Old Car?
Many people love to keep a car until it falls completely a part. In the older models many can be nursed along until they reach about 200,000 miles with proper maintenance. Sometimes putting a new engine in the car can cost less than buying something a different car.
If you want to keep your car finding a good auto repair mechanic that can consistently work on your car may be to your advantage. Sometimes you can find an independent auto mechanic that can help you refurbish your old car before it is totally worn out.
Reasons To Get Rid Of Your Old Car
There are many reasons that people give to get rid of their old cars:
It's Too Old And I Want Something New
This can be a good idea in many cases but you should think about what your car does for you. Do you need a car that goes around your neighborhood or travels out of state a lot? If your answer is you just need it around town, you can always rent a vehicle if you want to go farther. Some people take their car repair money and save some for renting a car. You can get good deals on rentals for weekends which may be a nice change of pace.
My Repair Bills Are Adding Up
You are always going to have car repairs. Whether your car is old or new there will be a time when you will need to take it to a car repair shop. Chances are a car repair center will tell you to get rid of the car and get something new. The problem with that theory is that you at least know what is wrong with your old car. You will not know what is wrong with a new car or a new used car.
When you think about the auto repair cost also think about the cost of a new car. If you are putting $400 a year into your car or every six months or each year, will it be more than the car payment you will pay?
Some used cars are costing $350 each month and you may pay that amount over 4 years. If your care is older than 3 years, you may have some basic maintenance and some major repairs once in awhile as parts wear out. However, a good independent automotive mechanic can help you save money in parts and labor.
I'm Not Sure About My Older Car And Whether It Will Last
Sometimes older cars get to a place where you are doing consistent new repairs. You may be a little nervous about it because you never know what is going to happen next. The point is that you may have the same issues with a new used car. If you arm yourself with car repair information about your car's make and model and then find a very good auto mechanic who does complete auto repair, you can make sure that your car stays running.
Also, most automotive mechanics can do an overall scan of your car to tell you what you might need to fix next. This will give you peace of mind and keep your old car moving.
I Spend More In Repairs Than My Car Is Worth
Although this may be true it still may be more cost effective than a new car payment. This really depends on whether you really like your old car or you think it may be better to get an updated model. Your old clunker may be a gold mind to someone else who can overhaul it and make it look like new. This may be exactly what someone else is looking for and you may get top dollar if you sell it yourself.
If your car isn't valued in the Blue Book for very much, chances are that you will not have trade in value at a dealership. You may get more money if you sell it to someone who would love your car and who can upgrade it. Or, you might get a windfall and decide to upgrade your original car instead of buying something new.
When You Decide To Buy a New Car Here Are Some Tips
When you decide that you are tired of putting money into your old car and you want to find something new, one of the first things to do is talk to your banker. Find out the interest rate you might get based on your credit. Next, check out your insurance company and find out what comprehensive insurance might cost on the new vehicle you are considering. Lastly, call the DMV to see what it will cost to get your license tags and register your vehicle.
Remember that you always have a choice when your car is concerned and a good automotive mechanic can make the difference for you whether you purchase a new car or a used one. They can also help you keep your older car and turn it into a classic.
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Tagged as: buying a new car, keeping your old car