For most people, buying a car is not a crotchet, but a necessity. It doesn’t mean that if someone decides to change their car, it’s because they want something more luxurious, but because they need a more robust and safer vehicle. If you own a car but time and roads damage it, sooner or later, you’ll need to change it for your own safety. But you haven’t fully decided whether to repair or replace it? Here’s what you should do to help make a choice easier.
When repairs cost more than the car
You will know it’s time to replace your existing car if the costs are a lot more than the actual price of the car. If you have another big repair ahead, but you’re sick of wasting money – what if it’s going to break again? What should you do? Keep throwing the cash into it, or sell it and hope to get a better one? Indeed, it is a big decision to make, so the first step in solving this dilemma is to not worry about it. If you do some research and arm yourself with enough strength, you will head in the right direction.
Does the car have any safety features?
Even if ten years ago you bought a luxurious and safe car, you notice that it still wears out. So, it would help if you considered the potential risks when driving. New cars are equipped with lots of safety equipment, such as side airbags, electronic stability control, better brakes, advanced airbags, cameras, etc. Of course, there are a lot of other optional safety features, including:
- automatic parking
- departure warning systems
- drowsiness alert
- traction control
- tire-pressure monitors
- anti lock brakes
- pedestrian detection
- blind-spot warning
- rear cross-traffic alert
- active head restraints
If you want to find the closest car dealership, just type “car dealership near me” and book an appointment. Since your existing car doesn’t have these safety options, maybe it’s time to search for a new one. Still, do not accept the first “offer” that comes in your way. Purchase your next car from a trusted dealership, but don’t exceed your budget.
Think about the potential future repairs
When thinking about whether to repair your existing car or not, you should consider first if there’s any possibility that it can break again. At first, you’ll find it hard to give up your old car. However, you can’t help it but imagine how good you’ll look in a brand-new one. Experts say that you must at the very least, choose a reliable future car.
It’s not going to be cheap – but it’s well worth it, rather than invest in your old car and have no guarantee that it will work in the long run. There comes the point when repair costs to your old car exceed the actual vehicle cost. Beside repair costs of your old car, you should also consider the fuel-efficiency and how it lost its value over time. To make the best decision, consider the pros and cons of these options.
Fixing your old car
- No need for changing the insurance cost
- You won’t spend time selling the car
- The repairs can be done faster rather than buying a new vehicle
- The repairs might soon need new ones
Purchasing a new car
- You have a new warranty and more maintenance
- Recent cars are more reliable
- Advanced safety features
- Buying a new car is a long-term commitment
Have a good idea of how much your next car will cost
Before making the decision to purchase a new car, ensure you do good research and compare prices. Perhaps you have an idea of how your next car should look, or how powerful you want it to be. Still, it’s best to take the time and find out what it’s worth. Since you’ve been spending quite a while browsing magazines to search for the desired model that caught your attention, you’ll also need to consider the payment option for it. Can you afford it? Is this going to exceed your budget? Also, another important rule is to determine if the repair costs are more than 10% of the vehicle’s price.
Your lifestyle changes may “say” it’s time for a new car
Do you have a larger family now and need more space in your car? Do you need to take and pick up your kids from school daily? Are you traveling a lot and you need a lot more space for the luggage? Are always carrying around massive gear or heavy items? Maybe purchasing a new vehicle isn’t a bad idea at all. You’ve had enough of your old car, so your new lifestyle asks for more space and safety. If it makes sense buying a new car, then go for it! Nothing is more exciting than purchasing a new vehicle that suits your needs best.