When something goes wrong with your car, it can be quite depressing to see what the estimated bill is going to be. Sometimes you may need to question whether or not it is even worth the cost, when you could trade in for something with fewer miles on it.
After all, even if you take excellent care of your car, some-high priced repairs are unavoidable. Wearable items such as axle boots and brake rotors eventually need to be replaced, or repaired.
When the cost of a bill goes over a several hundred dollars, it may be time to scrap the whole thing. However, buying a new car may not be on your radar at this point.
If you are not sure if fixing it is the right thing to do, you may need to swallow the bill and just repair it. It is usually still less expensive to repair a car than buy a new one.
Although something as severe as a blown motor or failed transmission will run you between three and seven thousand dollars, it still is not enough to buy a new automobile. It would certainly make a nice down payment, but then there are the monthly payments to consider.
Insurance and registration fees will go up with a new car. A new car typically loses an estimated twenty percent of its value the moment you drive it off the lot.
You may even have a sentimental attachment to it. Maybe it was your first car, a gift from a loved one, or a dream car you finally were able to purchase.
The only option is to make it work. Look at your financial decision, and decide if you can afford to keep it.
It may be time to give up the car if you do not want to worry constantly about future breakdowns. After all, repairing one thing does not guarantee that another breakdown will not happen down the line.
If you buy a new car, you will have at least three years before you have to worry about paying for any major repair, and some new ones come with free standard maintenance as well. You will not have to do the back and forth to the repair shop anymore.
Plus, lets’s face it-it’s always fun to have a new one. Every morning when you walk outside and see the neighbor’s ride, you long for something new.
That is perfectly normal. Just take a good look at your budget and make an honest assessment of your financial situation.
A good rule of thumb to estimate when it is time to throw in the towel, is if the cost of repairs is greater than either the value of the vehicle, or one year’s worth of monthly payments. When the time comes, buying a used car ride is always a more cost-effective option than buying new, largely because you avoid the big depreciation hit.
Just keep in mind that another used one could come with its own set of issues. If you are not yet faced with making the tough decision to fix or trade your vehicle, there are steps you can take to prevent or avoid high-priced repairs.
Get your new vehicle serviced at its proper intervals to avoid problems and breakdowns. Maintaining a much older automobile means paying close attention to items that commonly break down.
You might consider purchasing an extended warranty. If you plan on driving it for a long period of time, this can be a great way to save money and have peace of mind at the same time.
A three thousand dollar repair for a new transmission is not as intimidating, when you only have to pay two hundred bucks for the deductible, plus a small monthly fee. Remember that extended warranties are negotiable.
If you are experiencing issues with your vehicle and do not know whether things are likely to get worse, try checking out online advice, or words from a professional to decide what to do.
Most likely, other people have gone through the same problems with their vehicle, and can offer you advice. You can benefit from others’ experience and see what types of problems are associated with your vehicle as it ages.
What you decide in the end is completely up to you. Just make sure it fits within your budget.
Jack R. Landry is a certified technician and has been repairing broken and cracked windshields since the 80s. He has written hundreds of articles about windshield replacement St George.
Jack R. Landry