It’s a tale as old as time; something is wrong with your car, and when you take it to the mechanic, your bill makes you question whether or not this relationship (the one between you and your vehicle) should finally come to an end. This isn’t the first time you’ve felt this way, and it most likely won’t be the last. Every car owner goes through the, “Should I keep it, or should I sell it” scenario. Let’s face it. We’re fickle creatures, and we also don’t like to pay repair bills.
While you may take care of your current vehicle, some high-priced repairs are hard to avoid. Certain car parts wear down over time, like axle boots, timing belts, and brake rotors, no matter what steps you take. While it can be expensive to fix these items, that doesn’t necessarily mean it’s time for a new vehicle. Before you trade it in or decide to fix it up, consider these five questions to ensure you are making the best decision possible.
Repair or Trade it in? Questions to Ask
- Which Will Cost More? In the majority of cases, repairing a car is typically much less expensive than purchasing a new one. Let’s say, for instance that your Ford recently suffered a failed transmission or blown motor. While these parts can cost as much as £7,000 to repair, most new cars will cost two or three times that much. Even if you put that money towards a down payment, you still have to face payments every month.
- What’s My Insurance Premium? You wouldn’t believe how many individuals purchase a new vehicle without checking the insurance rates for that make and model beforehand. Smaller, more economical cars are less expensive to insure, as well as safer and some environmentally friendly models. Always check with your insurance company before making the final decision on a new vehicle.
- Am I Going to Buy Used? According to the Office of Fair Trading, roughly 3.6 million used cars are purchased by UK consumers every year. About 65,000 of those consumers quickly find their second-hand vehicles aren’t up to par. Purchasing a used car instead of repairing the one you’ve already become familiar with can be a gamble. Be sure to have any used vehicle checked out by a qualified mechanic. They should be able to provide you with a list of current and future repairs, which will help you to make an informed decision.
- Am I Attached? Here in the UK, we don’t just drive our cars; we fall in love with them. In fact, many of us even name them! When a vehicle becomes part of our identity, it can be hard to say goodbye. Are you really ready to say goodbye to your grandfather’s BMW? Maybe you should sleep on it.
- Is My Current Car Safe Enough? While older cars may have charm, they become unsafe with every necessary repair that we ignore. You may have a vision for restoring that old VW Beetle one day, but are the repairs getting out of hand? Sometimes they all seem to sneak up at once. Another concern is whether it will pass the annual MOT test. The Ministry of Transport test evaluates the car’s ability to operate properly and safely on the roadway. If your car can’t pass this test, you won’t be approved to drive it on the road.
The decision of whether to repair the necessary car parts or trade in your old car is never easy, but it is a decision all of us must face at one point or another. The next time you’re stuck in this situation, consider these five questions.
If you’ve decided to take the time to repair your vehicle, visit GSF car parts online for the best in high quality parts for every make and model.