Making the decision to repair or replace a car can be a difficult one. Generally speaking, it's almost always less expensive to repair a car than to buy a new one. To find a reliable mechanic for a lower price, ask a few friends where they go to perform reliable work. Then call to find the best price.
As you talk on the phone, ask about any discounts and special offers they may currently offer. Fixing an old car is almost always cheaper than buying a new one. However, there are exceptions to this rule. A growing percentage of car buyers are choosing to extend their monthly car payments much longer than traditional four-year auto loans. Beyond repair costs, Consumer Reports suggests factoring in the savings of a new car with better fuel efficiency and the loss of value of the new car over time. Paying attention to maintaining your car can save you from having to spend even more money on repairs later on.
Create an item in your budget for future car repairs and maintenance to ensure that you have the money available when you need it. To get the car of your dreams without paying for it, focus on saving money. When your old car breaks down, leading to costly repair costs, it can be difficult to decide whether to repair or replace the car. Buying a “new” used car will likely cost more upfront than repairing your car, but in the long run, if you consider possible future repairs to a vehicle, replacing your car may be the most affordable option. Leaving your old car may seem like a no-brainer at first, but there is a point where mathematics says it's time to stop injecting money into the old car. Making the decision between repairing or replacing your car can be tricky.
It's almost always less expensive to repair an old car than buy a new one. Consider factors such as fuel efficiency and future repair costs when making your decision. Pay attention to car maintenance and create an item in your budget for future repairs and maintenance. If you want to get the car of your dreams without paying for it, focus on saving money.
