When Does It Make Sense To Replace Your Car?

New and used cars are more expensive than ever before, and with the latest interest rates for car loans, many people end up spending over $1000 per month on car payments. Before you decide to replace your car, take a few moments to decide if it’s the best choice for your budget and driving needs. Ask yourself a few questions before you look for a place to sell my car in Houston.

Is Your Vehicle Too Expensive to Repair?

As time passes, vehicles lose their value. When the value gets too low, you’ll find that some repairs cost more than they are worth. If your vehicle is no longer worth repairing, it’s probably time to buy a new one. Small repairs add up, and if you aren’t repairing the underlying issue, it will continue to rack up bills and empty your wallet.

Is Your Vehicle Spending More Time in the Shop?

An unreliable vehicle does not do its job – getting you from point A to point B safely and reliably. If your vehicle is spending more time in the shop getting repaired than it is in your garage, then you’ll want to seriously consider replacing it with a new or used vehicle with more reliability.

Are You Spending Too Much on Maintenance?

Eventually, vehicles become too expensive to be worth fixing. Reliable vehicles need routine oil changes, tire rotations, and fluid checks. If you are spending hundreds and thousands on new parts and costly labor, then you no longer have a reliable vehicle. Consider how much you are spending on maintenance and repairs, and compare it to what a new-to-you vehicle would cost. You’ll most likely find the new car is worth the upfront cost or monthly payments.

Will Maintenance Keep Your Car on the Road?

The next time you bring your vehicle in for repairs, ask the technicians how long the repair will last. If it will keep your car running for thousands of miles, then the price to repair the car is worth it. If the technicians cannot give you a reasonable answer, then you are wasting your money on a repair that won’t make your car more reliable.

You could spend $500 one month, and another $2000 the next month, and if that still doesn’t take care of the problem, then you’re wasting money on really expensive bandages and not getting to the cure.

Should You Spend Money on Repairs or a New Car?

If you are spending money on repairs, consider how much of that money could go toward a new-to-you car. A $2000 repair bill is a substantial amount of money that you could put down on a car that doesn’t need repairs. New cars come with warranties, and you can add an extended warranty on a used car so you can save money if the vehicle needs repairs. Before you make your decision, shop around for a car you can afford and use a car payment calculator to determine if you can pay cash or get a loan.

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