There comes a time in every owner’s relationship with their vehicle that they need to decide if and when it is time to part ways? Do you repair or replace? This is especially true if the vehicle has spent more time in the repair shop then in your own driveway.
Keep in mind, that ongoing and proactive maintenance is a great way to extend your vehicle’s life. Common maintenance items such as oil, brake repair, and fluid replacement can keep your vehicle running longer. However, sometimes even the best maintenance protocol cannot ensure that your vehicle may not run into costly repairs at some point in time.
When you are faced with the decision to repair or replace your vehicle, you may want to consider a few of the economics involved in each of those decisions. In this blog, we examine the pros and cons of repairing that aged vehicle or replacing it altogether with another used or new vehicle and give you some food for thought on how to arrive at the right decision in the end.
Repair: Key Questions and Considerations
When trying to determine whether you should repair your vehicle, a lot of it depends on your budget and patience level. But if you have reached that point where your vehicle is in need of major repairs, you may want to consider these questions:
- Does the cost of repairs fit into my current budget?
- Has the cost of repairs been greater than the car payments (if it is not paid off)?
- Does having frequent repairs create a lot of inconvenience for my lifestyle?
- Based on the age and condition of my vehicle, do I anticipate more repairs in the future?
- Am I confident that my vehicle is reliable and safe?
Based on the answers to these questions, you may be leaning one way or another in your decision-making to move forward with repairs. To further assist you with that decision, we have listed some of the advantages and disadvantages of retaining your vehicle and taking the repair route.
| Advantages | Disadvantages |
|---|---|
| Incremental repair costs can fit within your budget over a greater length of time | Incremental repair costs add up over time |
| Car buying takes time, repairing the vehicle saves time and effort of having to research and shop for a new vehicle | When the vehicle is in the repair shop it presents a significant inconvenience to you and/or your family |
| Changes to auto insurance and other documentation are not required | Safety and reliability diminishes as a vehicle ages, regardless of repairs |
If you are unsure about whether or not to repair your vehicle, check with your Geller’s Automotive service technician for a cost/benefit analysis. Hopefully, you have been bringing your vehicle to us for all of the maintenance and upkeep. When you do, we keep a detailed record of all the work that is done. This allows us to provide you with advice on any repairs and the best course of action in moving forward.
Replace: Key Questions and Considerations
The decision to replace your vehicle depends largely on similar criteria as the decision to repair.
Much of this decision also comes down to budget and patience level. You may want to evaluate your situation with some key questions, such as:
- Does the cost of buying a new car fit into my current budget?
- Am I prepared for a big up-front investment?
- Do I have the time, ability, and tools to research new or used vehicles?
- Is there a vehicle that better fits my lifestyle and needs than the one I currently own?
- Am I prepared to handle additional costs of a new vehicle such as taxes and surcharges, increased insurance, and down payments?
- Does my credit rating allow me to be more flexible with my vehicle purchase options?
If your answers to these questions led you to the possibility of purchasing a new or used vehicle, there are some important advantages and disadvantages to consider for this choice.
| Advantages | Disadvantages |
|---|---|
| Newer vehicles come with warranties on repairs in the first few years | Depending on budget and credit, you may have to lay out a larger than planned upfront investment |
| You will not be inconvenienced with your vehicle out of commission while in repairs | Vehicle research is time consuming, and can sometimes be frustrating |
| Newer vehicles present less problems and stress and are more reliable and safe | You will be required to make changes to insurance and other documentation |
| If leasing is a consideration, monthly payments tend to be less than purchase options |
If you haven’t already, the automotive repair professionals at Geller’s Automotive would gladly establish a relationship with you. Remember, we can do regular maintenance (oil changes, brake jobs, etc.), on new vehicles that are under still under warranty. Likewise, if you are considering the purchase of a used vehicle, contact us to do a pre-purchase inspection for you. While there is a small cost associated with a pre-purchase inspection, it is invaluable in your purchase decision.
If you have reached the point in your vehicle relationship where it is now time to think about the future, don’t make a hasty decision. Take the time to evaluate your situation and the pros and cons or the options in front of you. The more research and thought you put into this decision the better you will feel in the end. Also, give our auto repair shop in Byram, New Jersey, a call and we will be happy to provide you with our expert advice.
