There comes a point for every car owner when they have to determine if they’re better off buying another used car instead of paying for the repair costs of the current one they have. Our team here at Certified Autoplex is here to walk you through this difficult time and share some advice as to whether you should keep the one you have, or start shopping for a new one.
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First, drivers will need to decide what their plans are for this vehicle. Do you plan to give it to your children as a hand-me-down, or do you not see yourself in it any more a few years down the road? These are questions you’ll need to ask yourself before deciding if you’re going to trade it in or spend the money to get it repaired.
Repair vs. Replace: Used Vehicle Decisions –
Let’s start with reasons why you may decide to keep the car you have and repair it instead of getting another one. We’re going to give you our top three reasons why a lot of drivers decide to take this route to give you a better idea of what to do next.
Reasons to repair:
- Repairs are inevitable, and most of the time won’t have to be repeated.
- Most of the time, it’s more cost efficient to repair versus buying a new one.
- Insurance and registration will likely be higher for a newer car versus the one you have.
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Although these are valid arguments to repair your car instead of buying your next one, we’re going to play devil’s advocate and give you three reasons why it’s a good idea to junk the one you have and get a new one altogether.
Reasons to replace:
- Newer cars often come with a warranty, so no need to stress about all the potential repairs.
- If you’re simply tired of having your car in the shop, this is the solution to getting more time on the road.
- Purchasing a newer car often means more advanced safety features are included.
What it ultimately comes down to is how you feel about your current vehicle. If the cost to repair your vehicle is greater than the overall value of the vehicle, then going through with the repair is probably not the smartest financial decision. Also, if the repair costs more than one year of monthly payments for a new car, it’s a good idea to consider a new vehicle.
Those interested in starting the car shopping process are encouraged to contact our team here at Certified Autoplex for more information. Drivers can browse our full inventory online and schedule a test drive for a specific model they’re interested in.