Should You Buy a New Car or Have it Repaired?  

Should You Buy a New Car or Have it Repaired?  

When your car breaks down, high are the changes that you’ll have to pay a hefty repair bill to get it back to its working order. If now isn’t the first time that this has happened, then you must be tired of wasting money on an old machine. You must be discerning right now whether you should buy a new car or not. 

 

 

However, that may not be the shrewdest decision at the moment, considering your present finances. To know if it’s the right course to take, you have to copiously gauge whether procuring a new car puts you at a better situation than getting the old one fixed. To help you further with that, below are some thought-provoking questions you should answer before making that decision.  

  1. How much does it cost to repair the car?

Even well-maintained vehicles stumble upon costly repairs because cars go through regular wear and tear, which is unavoidable. No matter how virtuous you are at taking care of your car, those rubber belts and hoses will soon dry out and crack. The metal on the rotors will warp and wear thin, and some of the electrical parts will stop working. Other parts such as the axle boots and brake rotors will have to be replaced. The car’s age will catch up with it and once a certain mileage is met, all of these hiccups will gradually emerge.  

  1. How much does it cost to buy a new car?

Now that you know that you’ll end up repairing your car at one point, try to appraise if buying a new car suits your finances. Consider your budget and all other known factors before doing anything. You’ll soon apprehend that it’s almost always less expensive to get a car repaired than to purchase a new one. 

  1. How much do you have to pay for insurance and registration? 

A new car registration is usually more expensive but its insurance is relatively lower. However, it’s the other way around for an old car. Cars typically lose about 22% of its value in its first year. So to make the most out of it, you have to use it longer. If your car breaks down before the time you expected it, then it’s better to get it repaired until you’re ready to get a replacement. 

  1. How much are you willing to let go of your car?

For some people, cars have a sentimental value. If you feel some sort of attachment to your car, then there’s no question that you have to get it repaired rather than replaced. If you’re one of those people who think that giving up a car is like losing an old friend, then find a reliable auto repair technician who can take a look at your car every time you encounter trouble with it.  

No one can tell you if you’re better off buying a new car or getting your old one repaired other than you. So just run these questions over and over again until you’re very certain of your decision. 

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