Sell Your Car or Fix It? How to Decide

It’s a fact of life that sooner or later, your car will break down. Cars only last so long. When your car has some issues, a big decision will no doubt be whether or not to sell the car or to fix it. Car repairs can cost a serious amount of money, depending on what is wrong. This is why you really need to think about whether to spend on repairs or to sell the car and look for another vehicle. The following are some things to think about when deciding whether or not to have your vehicle fixed.

What Will it Cost?

The key to deciding whether or not to sell your car or fix it is to think about the involved costs. Sometimes, car repairs can cost more than the car itself is worth. So take the time to think about the year, condition, make, and model of the car and how much you could get for it. If the repairs are half or more the car’s worth, then it may be time to say goodbye to the car and work on getting a new one. Repairs are only worth the cost if you think that it will lengthen your car’s life span by a year or more.

Get Professional Advice

Always consult with three mechanics and experts before you make a decision about your car. Having a professional opinion will no doubt help you make the right decision for your life and for your bank account and getting multiple opinions ensures you are being given sound advice. These people will know how much more life is in a car, even with these repairs.

Ask loved ones who know a thing or two about cars whether or not they would have the vehicle fixed and really listen to what they have to say. There’s no use shelling out major dough for repairs if you are just going to have the car fixed again a month or two later.

Ask Others Who Own the Same Kind of Car

Think about the car’s age. Is it just another break down waiting to happen, even if you repair it? Check forums online to find out the experience of other owners with an older model of the same car. If the car seems to be reliable for others, it should be good to you as well, assuming you perform regular maintenance and don’t abuse the car with an aggressive driving style.

Be smart about this decision to protect your bank balance and stress levels. Forget about the idea that your car is an investment. Otherwise, you just think about all the money you are losing over repairs. Instead, see the car as an expense. Will it cost you more to fix it and keep it, or will getting another car be a bigger expense? You can’t be certain you are making the right choice either way, but thinking about it logically improves your chances.