This can often be an emotional decision, as many of us become attached to our vehicle, and if you’re here looking for some guidance you may fall into this camp. That, or you’re simply looking for a pragmatic answer, regardless, let’s dive into the pros and cons of repair vs purchasing a new vehicle.
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Repair costs - Let’s start with the big one: expense. A basic guide here is to compare the value of your car against the cost of the repair - if the repair is near the vehicle’s value then it might be time to shop and see what you might be able to buy with that repair bill.
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Age, condition, and mileage - Where is your vehicle in its life cycle? Is the repair you’re facing now an indicator of more to come? Even the most well-maintained vehicles’ condition will deteriorate over time, it’s a matter of how quickly, and whether you have the desire to continue investing in replacement parts instead of getting a newer vehicle.
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Safety considerations - This may seem excessive, but is your car safe to drive? Due to constraints of either time or money corners may get cut to keep the car technically drivable, but there are a variety of maladies that can add up, from the simple to the structural, that create the opportunity for a catastrophic failure. Safety should always be a priority.
Some further considerations for purchasing an updated vehicle:
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Warranty - Depending on where you’re purchasing the vehicle, there may be a warranty offered, immediately securing you from large repair expenses should they arise.
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Your driving habits - This ties in with #2 above, but if you’re putting a lot of miles on your car then getting a fresh steed may be the way to go.
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Car type - What type of vehicle are you driving now, and does it still suit your lifestyle? Also, this will apply to the following point as well, but it’s important to be realistic about what model you’re looking to get into, as even basic operating costs can vary, including insurance.
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Finances - And here we’ve circled all the way back around: what is your financial situation? Most everyone gets excited about the prospect of a new car, but it pays to be responsible. If you can’t quite get precisely what you want now, then be good to yourself and allow for the ability to save for the future when it doesn’t feel like a repair is pressuring your decision.
Whether you absolutely love the car you’re in and want to keep it rolling forever or are keen to get behind the wheel of something different, newer, and may better fit your situation, the team here at Greensboro Auto Center are happy to help you on your path.