Auto Repair in Mint Hill – Should I Trade in My Car?
Have you ever owned a car that seemed to spend more time in the garage getting fixed than in your garage at home? As you sit in the waiting room of the auto shop you find yourself asking “Is it time for a new car? I’m here it seems quite a bit.” The answer to that question, like many other things in the auto industry, isn’t as black-and-white as it may seem.
Consider Current Repair Costs.
It isn’t fun when you have to give up your car for a day to have it fixed. It can seem tedious when you go to your local shop almost monthly, but consider the average dollar amount of what you spend fixing your car – is it less than $509 a month? According to Cars.com, that was the average price of a new car payment in the first quarter of 2017. If you’re spending more than that on average, it’s time for a new car (or a new-to-you used car with low milage – cars just off their first-owner’s lease are great buys!)
Consider A New Car’s Future Repairs.
Buying a new car isn’t like buying a TV. You can’t just save up for it, buy it, and be done spending – even with a new car, you’ll have to visit the shop. Though maintaining a new car is inherently cheaper than maintaining an old one, oil changes, factory-required tune ups at specific mileage, and the like still have to be done. Bottom line – if you can afford a car payment, but can’t afford the car’s maintanence that goes with it, you can’t afford a new car.
Consider the Time Value of a New Car.
Let’s say you spend only $1,800 a year keeping your old car running. Averaging just $150 a month is great for a car 15-20 years old, but what if it is your only mode of transportation and you can’t make the time to go to the shop? It may be time to get a new car. Though you’ll likely be paying more monthly due to a car payment, you’ll be in the shop far less – probably just once every 3-5 months for those oil changes and factory-reqired jobs we talked about earlier. That may be worth more to you than the money you’re saving repairing the old car, depending on your job or health.