Perhaps you were involved in a car accident, or your engine is making new noises! Maybe you have run out of duct tape tricks, or you wouldn’t be able to tell if it’s a new dent if someone hits you. It might even be a safety hazard to drive your car anymore. Is it smart to buy a new ride, or would you be better off fixing your current vehicle? Is it worth it to repair your car, or will the mechanical bill be too costly for its value? In some cases, maybe your used car is ready for recycling. There is no consensus on when is the right time to cut your losses because the answer depends on so many things. If you are stuck with this dilemma, we are going to tell you about the pros and cons of each option to help you with your decision-making.
4 Reasons for repairing your broken car
1. It is less expensive to repair cars
Estimating car repair costs depend on many factors, but in most cases, auto repair is the less expensive option. Insurance and registration are going to cost you money and recent surges in car prices is another reason for considering sticking with your old vehicle. There are some severely expensive maintenance costs such as motors or transmissions that can cost you up to $7,000 to replace. But compared to monthly payments and down payments of buying a new car, you might as well get some cash for your junk car and look for a used vehicle.
2. No devaluation
A new vehicle’s price depreciation can reach 60% in a 5-year period, which is a jaw-dropping amount. There can be a 25% decrease even only a year after buying your car. That’s a lot of money you are throwing away when you purchase a new vehicle. Your old car on the other hand has already taken the depreciation hit. Depending on what model you drive, your vehicle might be depreciating at 15 percent or less every year, helping to retain a nice resale value.
3. You can’t buy a new car
With new car prices continuing to climb, and used-car prices hitting record highs, it seems like buying a car now is brutal. Finding suitable deals for a new ride may be impossible now and chip shortages are one of the culprits. In Queensland, Australia, The average price of a new car is estimated to be $37,733. This has led to more demand for used cars, causing a surge in second-hand car prices too. That is why many consumers have found that they may have to opt for auto repair services instead of purchasing a new model.
4. Sentimental attachment
If you are one of those people who has an emotional connection with their car, you may not be ready to break up with your friend. You are willing to easily spend a lot more than the car’s value on car repairs just to keep it running. Maybe your old car brings a sense of nostalgia for you, whether it’s your first vehicle or a special gift from a loved one, you want to cherish it as long as you can. You might has spend so long saving up to buy your dream car and buying a new car would mean giving up an old friend. Either way, no one can tell you that you need to sell the car unless, of course, you can no longer afford to keep it.
4 Reasons for replacing your old car with a new model
Each car situation is unique. So when should you not repair your car?
1. Car repair costs are more than your vehicle’s value
If your car is not worth the trouble, you should ask yourself how much could you get if you sold the vehicle in its current condition? Comparing how much cash you can get for your old car with the estimated cost of repairs could help you in your decision. Ask yourself another question: Could you buy a decent vehicle for that money? In that case, it might make more sense to sell, take your savings and earnings, and put them towards a new vehicle. A good rule of thumb would be if the repair in question will cost more than half the value of the vehicle. Some foreign cars may also cost more money compared to local brands because their parts might cost more. Keep these factors in mind before making a decision.
2. Tired of repairing your car
If your local mechanic sighs every time he sees you, maybe that’s a sign you are spending too much time there. In addition, some car problems can’t be fixed in one session, wasting more of your time and resources. If this is bothering you, or you know you can use your time in a more useful way, it might be the time to say goodbye to your old buddy. Determine how much time you are losing due to frequent visits to the mechanic and see if it’s worth the effort. If you decide to get some cash for your car, you don’t need to worry about losing any time anymore, since our junk car removal services in Brisbane will pick up your car from your home.
3. You want something safer
Modern standards of safety are far more superior than older cars models. Features such as automatic emergency braking, backup cameras, and blind-spot monitoring are increasingly becoming standard fare on new vehicles. If you drive an older vehicle, you might be missing out on some valuable safety equipment. You can’t put a price on the safety of yourself or your family members. Do you really want to keep spending money on a car that is inferior by today’s standards?
4. You want something more reliable
Turning your keys in the morning should not be as stressful as bomb diffusion. Old cars can be unpredictable and the second that your vehicle starts ruining your ability to get to work, you should consider getting rid of your old car. Constant trips to the car repair shop, or having to bang on the A/C to get it working can be good enough reasons to move on. Check your budget and decide if you want to fret about future breakdowns.
Making your decision
Selling your car on your own is not an easy task. You have to do preparations before selling your car, and even then it takes a lot of time to find a good buyer. If you decide to sell your old car and you want to receive immediate cash, junk car removals can help you with your deal. Our services are available at Brisbane, Gold Coast, Caboolture, Ipswich and Logan. Just give us a call and we pick up your car for free!