Should I Fix My Vehicle or Replace It?
You may have just been handed a large estimate for repairs needed on your vehicle or maybe your vehicle has been in the shop more than on the road lately. It’s come to the point where you are asking yourself if you should repair the vehicle or get something new or at least newer.
While there may not be a clear-cut answer for this, here are a few points to help you with your decision:
Reasons to fix your vehicle:
There’s no hiding it, Transmission and Engine repairs can be costly however the cost of these repairs may or may not cover the down payment on a new vehicle, and then you have those pesky monthly payments to worry about.
Depreciation! If you replace your vehicle with a brand-new vehicle, your investment will depreciate, on average, 20% in the first year.
Better to be with the devil you know than the devil you don’t. When buying a new vehicle, you could also be buying the previous owner’s problems which could lead to a costly surprise down the road.
Insurance on a new/newer vehicle will probably be more expensive.
What would you look at buying for your next vehicle? If you are looking to go from a car to an SUV you may find your gas budget will increase.
Generally speaking, it is cheaper to repair your vehicle than to replace it.
“If it was built by man, it can be fixed by man” - Ryan
Reasons to replace your vehicle:
You are starting to spend more per year to keep it running then a monthly payment would cost.
You don’t like how it looks anymore, you are tired of the constant trips to the shop, you are embarrassed when you are giving your friend a ride home and you have to bang the dash to get the heater to work, in general, you are just fed up with your ride.
You don’t want to have to worry about future breakdowns. Repairing one problem on your older vehicle does not guarantee that something else won’t break down.
There is no right or wrong answer to this question, and we hope you find these points helpful. To help avoid major break downs Bob’s Transmissions believes in Preventative Maintenance. Check out some of the benefits of Preventative Maintenance here: Benefits of Preventative Maintenance
If you feel you have a major problem with your vehicle don’t hesitate to contact us today and we will be happy to walk you through the process, or if you would like to set up a Preventive Maintenance -appointment call us at 204-475-5590, e-mail us at email@example.com or submit our online questionnaire: Virtual Rewards