Repair or Replace: What’s your car really worth?
As cars get older, it’s natural to look at repair costs and start dreaming about a new vehicle.
Is it really such a good idea to sell or trade-in your vehicle, though?
Count The Cost
It’s not only about numbers on the page or the price the salesperson throws out. It’s also about what your car is worth to you and “counting the cost.”
That means checking things like: the current value, how much it costs per month, how safe it is, service history and more.
Be In the Know
The Kelley Blue Book is one tool you can use to decide whether to fix your car or buy a new one. Use the online calculator to figure out the current retail or trade-in of your vehicle.
Remember, fixing your car is almost always more affordable than purchasing a new one.
Monthly payments, tags, registration, insurance increases, and other driving costs add up quick and can last for quite a while.
The value of your car is more than what the Blue Book says. It’s also the value of no car payments and owning the vehicle.
At [atc], we encourage customers to be good stewards of their vehicle and finances. That means making wise choices and getting the most out of your vehicle.
The easiest way to save money on your vehicle is to drive it longer.
In contrast, a new car costs an average of $479 per month and is financed for over 60 months!
And don’t forget to figure in your driving costs (see illustration). With new cars, several of those driving costs may go up.
What about buying used cars? We’ll cover that more in a future article. But for now, please do yourself a favor and let us look it over before buying. It’ll be $100 well spent!
Our Service Advisors help put repair costs in perspective by showing you the “Breakeven Point.”
That’s the number of months it takes to get back to $0 when compared to the average monthly car payment.
So, for a $2500 repair, your Breakeven Point will only take around 5 months to get back to paying $0 per month. Compare that to 6.5 years of monthly car payments!
When you’ve had your car for a while, you tend to notice even small problems as soon as they occur. And that’s a good thing!
To keep a car functioning at peak performance, it’s crucial to perform standard maintenance plus any repairs that are needed.
It’s tempting to let minor repairs slide as a car ages. But keeping up with things like fluid services minimizes costly problems in the long run. More importantly it keeps you and your family safe.
With regular upkeep, an older car can still provide peace of mind in your travels! You have a history with your vehicle, and you can have a long future with it as well.
You know your car better than anyone, and we’re always here to answer questions, provide expert advice, and give you honest answers about how you can keep your vehicle running safely and smoothly for years to come.