Auto Repair or a New Car?
Auto repair can be a daunting but inevitable expense! So how do you prepare for it? How do you know when a car repair is all that is needed, or when it is time to buy a new car?
Trading in your paid for car for a newer model with a monthly payment might seem like a nice thought. However, having to do it because you feel like a car repair is too expensive and the monthly payments “aren’t that bad,” will probably cause buyer’s remorse. Consider paying your “monthly payment” into a bank account for several months and within about 2 years, you will have enough to buy a newer car – debt free!
Know When a Car Repair is Worthwhile
The average car repair costs between $400 and $700, which is nothing in comparison to a new or different car. Many people spend $400 per month in car payments and the interest that you’ll accrue will be more than an average car repair.
Be Prepared for the Occasional Auto Repair
Keep about $1,500 in savings, just in case auto repairs are on the horizon. You never know when it will happen, but even a car that is in otherwise great shape will need to be fixed occasionally. Some parts just wear out after a certain number of miles and even the best preventative maintenance cannot stop some wear and tear.
Ask yourself these questions:
1. Is this car worth putting this amount of money into?
2. If you fix your car, will the repair cost more than you could sell your car for even after it is running well again?
3. Has your car been nickel and diming you, or does it just need occasional maintenance and repairs?
Find an Auto Repair Shop You Trust
Avoid getting your car fixed at a car dealership. They are more likely to try to sell you a new car even though fixing your car is still a great option. If you get your car fixed at a reputable auto repair shop that you trust, they will tell you when your car can be fixed and will run well for a long time, and when repair costs are actually more than the car is worth.
With proper maintenance and an occasional repair, you can expect your vehicle will run for between 200,000 and 300,000 miles. Paying off your car and keeping it until you have money saved for the next vehicle you want is better for your budget, even if repairs are needed on occasion.
Finance Repairs for a Few Months
Auto repair shops, like 5 Seasons Tire, often have financing available for that time when you get into a pinch and need a repair. 5 Seasons Tire offers 6 months interest free. You won’t find that kind of deal at any car dealership.
You can always trust the mechanics at 5 Seasons Tire to show you all of your auto repair options – the car repair that will get you by for a while, the permanent auto repair, and even why it may be time for a trade-in. Call 319-366-7683 for vehicle maintenance and auto repair services.