A car is one of the biggest investments you will make in your lifetime. Depending on the brand and model you choose, your expenses may range from a few thousand dollars to perhaps your entire life savings. So, it can be emotionally and financially difficult to let go of your used car.
However, there will come a time when you finally need to replace it. After all, it’s your safety and that of your passengers that are at risk every time you are on the road, so buying a new car may be your best course of action.
An occasional breakdown is normal but when you must pull over to the side of the road because your engine dies every few miles, things are beginning to get serious and a change is needed. You can always choose to repair the problem but if it keeps on recurring, perhaps the engine has already begun to fall apart and there’s nothing more that can be done.
From a financial perspective, the best way to know if it’s time to let go of your old car and buy a new one is to determine how much money you are spending on monthly repairs. Then compare the monthly repair cost of your used carto buying a brand-new car with monthly payments. For instance, if you repair your used car monthly, and it costs you a few hundred dollars to do this every month, it really makes financial sense to just purchase a new car and not deal with all the used car hassles. Not only will you have the potential of saving money but there are other intangible benefits, like taking back valuable time that would have otherwise been spend at the auto repair shop.
Environmental emissions standards are constantly improving to meet tightening government regulations. As a result, most older vehicles may no longer pass the current emissions tests approved by the EPA. If your car fails the most recent tests, it means the car’s carbon emissions are no longer healthy for the environment. You will not be allowed to use your car unless you update it emission system, which can be very expensive. So, buying a new car at that point may be a good idea.
For best results, we recommend you get your used car checked at one of the top-rated Chevrolet dealership’s in Portland Oregon called Mcloughlin Chevrolet. Whether you decide to buy a new caror simply use their GM certified auto service center to repair your old car, Mcloughlin Chevrolet is your best choice in Oregon.
Buying a New Car: Signs It’s Time to Buy, investopedia.com
10 things to look for in a new car, drive.com.au