Car repairs vs buying a new car
Has your car been in the garage more than on the roads lately? Does it need yet another repair? If so, you may be wondering if you should fork out to fix it again or simply buy a new car. Deciding what to do in this situation can be tough. Read on to find out whether you should go down the line of car repairs vs buying a new car.
More repairs or a new car – which is best?
Usually, the first step to solving this dilemma is to do the maths. If your old car is costing you more than a new car would, it may make sense to replace it. However, you’ll also need to consider your personal situation and whether you’re in the financial position to do so. The cost of a new car can be steep, and you’ll need to make sure you can afford the expense.
How much is car maintenance costing you?
The first question to ask yourself is how much are you paying in repairs? Even if you’re paying a couple of hundred pounds in maintenance every few months, this is likely to be less than any new (or second-hand) car payment would be. If you want to cut your car maintenance costs, you could always start handling some of the basic tasks yourself. For example, you could check and replace fluids or even change spark plugs or air filters with a little knowledge. This can help reduce your car bills.
How much will repairs cost?
Of course, many car repairs will need to be carried out by an experienced mechanic. If you don’t feel comfortable doing them yourself, don’t risk it. Doing work on your car when you don’t have the necessary expertise can be downright dangerous in many cases. A trip to the car garage is likely to be required for repairs such as fitting new brakes or working on the vehicle’s electronics.
Finding out your car needs repairing can be concerning. However, don’t panic until you know exactly how much the repair bill will be. Take your car to a local garage rather than the main dealer as repairs are almost always likely to be cheaper. For car repairs in Barnsley or Wombwell, Wyatt Auto Services can assist. We can repair cars of all makes and models, providing a professional and affordable service every time. However, before you arrange for major repairs to be carried out on your car, there are some things to consider.
Are the repairs less than half the car’s market value?
If the repairs will cost less than half the car’s market value, you’re probably better off getting it fixed. For example, if you take your vehicle to a mechanic and they quote you £2000 on a car that’s worth £5000, it makes more sense to get the work done. However, if the car’s only worth around £3000, getting it fixed may not be worth it.
Although, if you can arrange to spread the repairs out over a longer period of time, it may be more financially viable for you. Another thing to consider is that investing in repairs could increase your car’s trade-in or sale value. If you’re unsure of your car’s market value, we recommend using a free car valuation checker online.
Consider your peace of mind
Although repairing a car will usually always be cheaper than buying a new one, you need to consider your peace of mind too. A car with lower mileage is unlikely to break down as often, which means you can eliminate the back and forth trips to your mechanic. You’ll probably get a safer, more fuel-efficient vehicle too when you opt for a newer car.
However, if you can find a good, honest mechanic to carry out repairs on your current car, there’s no reason why you can’t expand its lifespan. Providing you with many more years of use, your car could be just as reliable as a new one. The average age of cars on UK roads has risen from 6.7 years in 1994 to 9.1 in 2019. This is a good sign that with the right maintenance, your car could last you several more years before needing to be replaced.
Can you really afford a new car?
You need to think carefully about your budget before deciding to replace your car. Even new cars can have unforeseen repair costs, and you need to work out whether you can afford to fork out for these on top of your monthly car payments. Figure out if you can afford a reliable replacement before you give up on your old car. If you can’t realistically afford a high-quality car that you can rely on, you may simply find yourself in the same position you’re in now.
Many people wonder when to cut their losses when it comes to repairs vs buying a new car. However, the truth is that there’s the right time to replace your car since the answer depends on so many things. In most cases, it will usually be less costly to repair it and keep driving it rather than buying a new car. If you do decide to keep your old car, it’s important to have it checked out regularly by a skilled mechanic. You’ll save more money by spotting mechanical problems early. Don’t ignore warning lights either – they can help you identify small issues before they become big, expensive problems.
If you require car repairs in Wombell or Barnsley, get in touch with the team at Wyatt Auto Services now. Call us on 01226 979 087 to discuss your needs. Alternatively, send us a message via the website and we’ll get back to you as soon as we can. We can book your car into our fully-equipped auto centre and carry out repairs to the highest possible standards.