Should you repair or just replace your old car?
As your car gets older, you might just find that the issues that it has kept getting more and more frequent. This is just a property of its age.
Of course, wear and tear is a feature of age, as all machines that have moving parts and a lot of friction tend to accrue more and more of it as time goes on. So, it is safe to say that a vehicle that is fifteen years old won’t work as well as it did when it was brand new.
Eventually, you will need to sell it. That’s just the cold hard truth. But when? Do you wait until it broke down for the last time and costs too much to repair? Or do you sell it now and leave it up to someone else to drive it until it reaches junk status? Junk cars are easier to sell to Auto Wreckers compared to selling it privately.
Is it Financially Pragmatic to Keep Driving Your Old Car?
If you want to determine the level of wisdom behind continuing to drive your old vehicle instead of selling it off, you would be best advised to consider the cost. There are many things that you are paying for. Not just the petrol required to run the automobiles, but the regular maintenance that the vehicle requires and the monthly payments that you are probably making. If you miss-calculate any of these factors, you may just end up paying even more.
Cost of Repair and Monthly Payments
If your car is spending an inordinate amount of time at the repair shop, you might be paying more each month on repairs then you are on the monthly finance payments. If this is the case, then you probably should have sold the vehicle already.
Cost of Repair vs the Cost of a New Car
If your old wheels cost you more in repair bills each year than it would to simply get another vehicle then you should buy a new car. This is almost common knowledge by now. It really is simple. And there are more reasons than just the cost as well.
Old cars are less safe than new ones. How so, I hear you ask. Well, it really is as simple as counting to three. Old vehicles have old technology in them. As the years have rolled around the boffins designing new parts and technologies for cars have had a safety on their minds constantly. This is because cars are incredibly dangerous. People seem to die in them all the time. So newer cars will always have better safety features. If your old car is twenty years old you should sell it because it is relatively unsafe.
Not only have the car manufacturers been making vehicles safer, they have been making them more fuel efficient. This is another great reason for getting rid of your old vehicle. It is probably a gas guzzler. Sell it and buy a new one this instant. You won’t be sorry.