Is It Best to Repair or Replace Your Car?
Too Expensive to Repair?
Choosing the Right Auto Repair Center
7 Good Reasons to Buy a Used Rental Car
(NAPSA) - A growing number of people are finding that the economy has them debating whether it's best to buy a new car or repair the one they have. If you are trying to decide it's time to replace car, here are some tips that may help:
It is typically less expensive in the long run to repair the vehicle you already own rather than purchasing a newer one. Financing even a $2,000 repair typically means lower payments (or similar payments for a shorter time) than those incurred when purchasing a newer vehicle.
The 50-Percent Rule
After receiving the estimate of a major repair, consider the "50-percent rule." When the cost of a needed repair approaches 50 percent of the vehicle's value, it is time to seriously consider replacing it.
Reliability and Maintenance History
The best way to know a vehicle's condition is by maintaining it on a regular basis and using the same repair shop. If a repair shop knows the service history of a vehicle, consumers can look to its technicians for guidance on when their vehicle likely will need major repairs.
"Following the vehicle manufacturer's maintenance recommendations can greatly increase the life span of vehicle," said John Nielsen, director of AAA Approved Auto Repair and Auto Buying.
The cosmetic condition of a vehicle can greatly affect its value and a motorist's desire to hold on to it. Motorists should take a critical look at their vehicle for signs of wear and tear and evaluate how important their vehicle's cosmetics are to them.
Changes in lifestyle can be a large factor in changing vehicles. Family size, commute length, recreational usage and business needs are all legitimate reasons to consider purchasing a newer vehicle that is better suited to a consumer's driving routine.
Several outside factors may impact the decision between repairing and replacing a vehicle, such as reduced pricing and special offers from manufacturers. A vehicle that could become a valuable classic might be worthy of extraordinary repairs and maintenance.
If you decide to go with a major repair, be sure to use a qualified and trustworthy auto repair facility. A listing of AAA Approved Auto Repair shops is available at www.aaa.com/repair
Take the Next Step:
- For more articles on car repairs and car buying, visit The Dollar Stretcher Auto Section.
- Do you struggle to get ahead financially? Then you'll want to subscribe to our free weekly Surviving Tough Times newsletter aimed at helping you 'live better...for less'. Each issue features great ways to help you stretch your dollars and make the most of your resources. Subscribers get a copy of our ebook Little Luxuries: 130 Ways to Live Better...For Less for FREE!
More Tips & Tools to Help You
Live Better...For Less
- 4 costly car maintenance mistakes to avoid
- 5 common ways you are killing your car
- 5 easy DIY car maintenance moves for fall
- 7 secret sales tactics car salesmen hope you don't know
- 7 smart steps to switching your car insurance
- 15 mistakes to avoid when selling your home
- 9 ways to buy furniture for less
- Need a bigger home? How to maximize the space you already have
- Are you overpaying? Find a better auto insurance rate .
- Auto loan calculator
- Should you buy or lease you next car?
- Is a new car or used car best for your next purchase?
- Auto down payment calculator
- More helpful auto calculators