Auto,Repair,Fix,Buy,New,When,y car Auto Repair: Fix It or Buy New?
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When your old car bites the dust and needs extensive auto repair, is it better to just do it or trade it in for a newer model? It can be frustrating to have your automobile in the shop over and over again. It's also quite expensive. Some motorists get tired of shelling out so much cash to keep their old jalopies on the road and they'd rather put that money into a snazzier set of wheels. But would that really be a financially sound decision? There are several things to consider:-Repairs can be expensive: When a vehicle begins to rack up the miles, especially if the odometer is approaching 100,000 miles, auto repair will be pricier than in the earlier days. It's not uncommon to have to shell out $1,000 or more for a repair. While that may seem astronomical, it's really just part of the expected package of maintenance. And when you think about it, a thousand bucks wouldn't even cover the down payment on a new auto.-Were you planning to trade it in anyway: When a motorist has a five year plan for turning in his or her vehicle and the thing breaks down at four years, eleven months, it may be better to go ahead and trade it in. If a pricey repair is done, that amount will have to be figured into the 5 year plan. Either the driver will have to wait a while to recoup the cash outlay or just realize he or she will have less money to put toward the new car.-Buying another vehicle in a rush isn't wise: When a person decides to buy new instead of fixing the old one, he or she may end up making a snap decision about a new mode of transportation. If the person needs something to drive right away to get to work the next day, chances are the decision will be rushed. This is never a smart way to make a major purchase. At least rent a car for a week or borrow one from friends or relatives so that consumer reports and various research sites can be checked into before signing on the dotted line.-Whether this auto has been reliable up until now: If an owner has a dependable vehicle with a great track record, a couple of repairs shouldn't be the reason to get rid of it. If the thing has been a lemon all along, maybe it is time to make lemonade by buying another more reliable ride.-Consider additional expenses: While the latest model is shiny and novel, it will also cost more than just the sales price. Your old sedan most likely has inexpensive registration fees as well as insurance. That glossy new automobile will cost more to insure and register.When an old car is starting to need auto repair on a regular basis, it's time to do some thinking. In some cases, it's best to fix it and keep it on the road while other scenarios point toward a trade-in. Article Tags: Auto Repair
Auto,Repair,Fix,Buy,New,When,y