Repair or Replace?

12/19/2018 |

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Repair or Replace?

When to Replace or Repair Your Car

For most people, a vehicle plays a large part in the smooth progression of each day. From work, to school, to special occasions, our cars are what get us from point A to point B. However, like most things, motor vehicles do have various expiration dates. Are you stuck as to whether you should repair or replace your vehicle? Here are a few helpful tips to determine whether or not upgrading to a new vehicle should be your next step.

Consider the age of your vehicle

One of the first things to consider is the age of your vehicle. The average life expectancy of a vehicle is 8 years, or about 150,000 miles. If your vehicle has surpassed this and is requiring attention that is incongruous to the monetary value of the machine, it is worth considering a replacement.

Consider scale and frequency of repairs

While occasional maintenance is a necessary aspect of owning a vehicle, it is worth keeping note of any recurring malfunctions as well as the magnitude of these malfunctions. Are repair costs making a significant dent in your budget? Are these recurring malfunctions putting your life and the lives of other drivers and passengers at risk? If the answer to either of these questions is ‘yes’, It’s probably time to begin shopping for a new vehicle.

Crunch some numbers:

Take the time to do the math. Is the upkeep cost for your current vehicle surpassing the amount it would cost to pay for a new car? If the answer is yes, it is most likely time to upgrade, regardless of your current vehicle’s age.

Looking to purchase a new or used vehicle? Premier Source is here to help! Begin the loan application process on our website today!

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