How to choose whether to repair or replace your car?

When deciding whether to repair or replace your vehicle, there are several factors to consider. There are various reasons to get the job done regarding repairs. Some of these reasons include safety, efficiency and convenience. Repairs can ensure that your car is running as well and safely as possible, which goes hand in hand with efficiency – and convenience too! With all that said, sometimes it’s just time for a replacement.

However, if you are still puzzled about where to begin? It will help if you start by determining whether your car is old enough for repair or replacement. You may have wondered whether it could be worth repairing or just buying a new car altogether.

However, hiring a professional and investing in credible car repairs in Melbourne is better. Let’s look at common reasons to help you decide whether to repair or replace a car.

How to decide whether you repair or replace a car?

Here are some of the reasons that can help you choose whether to repair or replace a car:

3 Reasons for repairing a car

Buying a car is not always possible every time you experience a breakdown. Let’s look at some of the reasons why you should consider repairing your vehicle:

Less costly

There are exceptions to the rule that repairing an older car is cheaper than replacing it. For example, a failed transmission or blown motor could cost thousands if you take it to the dealership for repair. You could get another vehicle for this price, but it probably won’t be reliable. However, you could also use the down payment on a new car. If the cost of the repairs is cheaper than what you would spend on a newer vehicle, and if the value of your old car is higher than what you are spending on repairs, it is worth repairing.

No depreciation

A new car loses 20- 30 per cent of its value by the end of its first year on the road. That’s considerable money down the drain, considering that you buy a new car every few years. But you won’t have to deal with this level of depreciation if you purchase a used vehicle. Depending on which model you drive, your car might depreciate at 15 per cent or less every year. It should retain a decent resale value when it comes to selling.

You can’t buy a new car

If it’s not the right time for a new car, consider repairing the old one. You might be saving up for a new car. You may not have that much cash on hand today. Whatever your reason for repairing your current vehicle, doing so can help you buy some more time until you can reach your financial goals.

If you spend $300 on repairs today, you’ll save $3,000 a year; it’s a good investment. However, if you have to pay $3,000 today to fix your current car (which takes away from what you were saving), it may not be worth it.

3 Reasons for buying a car

You should replace your car for many reasons, as many signs indicate it needs fixing. But at what point is a car not worth fixing? Let’s find out!

Tired of too many repairs

If you have frequently visited a local mechanic, consider spending your time elsewhere. Additionally, most problems can be fixed right the first time, leaving little to no downtime as you take your vehicle back in. If you spend a lot of time at the mechanic’s garage, consider finding a shop that employs more highly skilled mechanics. If so, it might be time for an upgrade.

You want peace of mind

You can stop with a newer car when you are tired of worrying about breaking down. Even if you fix the current problem, another could crop up down the road and leave you stranded again. Generally, a brand-new car comes with at least a three-year warranty. Even pre-owned vehicles come with some protection; dealerships offer extended warranties. With these protections in place, you don’t ever have to fret about any more major repairs for at least a short time.

You are looking for safety

Older vehicles may be less safe than newer ones. Recently, auto accidents have decreased as new technology has been added to vehicles. Do you want to keep driving an older car without the latest safety features? A new vehicle might come equipped with automatic emergency braking, blind-spot monitoring and backup cameras for safer driving.

Why should you prefer repairing your car rather than replacing it?

Car repair and regular maintenance are necessary to keep your car operating safely so that you can remain mobile and avoid the expense of purchasing a new vehicle prematurely. Your sentimental attachment to this car should not interfere with your ability to make a sound financial decision. Here are the top reasons why you should consider:

• It increases safety.
• It saves you money.
• It lowers the cost of fuel.
• It saves you time.
• It keeps the car value high.

Conclusion

Though it can be challenging to determine whether you need to repair or replace a car, you can take some steps. If you have taken excellent care of the vehicle and the recommended maintenance schedule, it is more likely that you will be able to extend the life of your vehicle. Changing the oil and filters ensures the car adequately performs while replacing spark plugs helps keep everything running smoothly. However, to ace the repair, you will need the help of professionals.

Thus, make sure you choose a trained BMW mechanic in Melbourne who can assist you throughout the car repair process. It will help you get the right guidance and also help you choose whether you want to repair or replace your car. A professional mechanic will also provide you with advanced and specialised equipment.

For more help deciding if you should repair or replace your car, please see the accompanying resource.