Many people mull over the idea of whether to sell or repair their junk of a car. Maybe your car is due for another repair and wondering whether you should put more money into it before its hit again. I know you are probably pulling out your hair right now, wondering how much is too much. You’d kill for a crystal ball right now. At least, you’d get to know how long you’d use it before hitting or getting hit.
Well, since we can’t have that crystal ball, let’s use logic and wrap our tiny little heads around it. Just know that junk car ninjas are peeping through the walls, sharpening their wallets, ready to throw cash your way at the slightest hint. Should you fix your junk car or sell it? We are here to lend you a hand in your decision making.
Check whether the new insurance rates will be if you decide to junk your car for a new one. Obviously, the rates for a new vehicle will be higher. Check and see whether such rates fit in your budget.
In case you decide to junk it for a new one, consider what incentives are being offered, and if it is sweet enough, you can let it go. Sometimes, dealers offer attractive incentives such as free periodic maintenance to get an edge over their competitors.
The Car’s History
When it comes to assessing your car’s condition, be conscientious or truthful about whether you’ve been strict with its maintenance regime. It will give you a rough idea of the current state of the vehicle.
On average, a car’s body can last up to twenty years. Even though you may not see rust on your vehicle, it’s happening in other areas not visible to the open eye, such as the brake and fuel lines. Don’t be too quick to declare that your car isn’t a rust bucket.
Consider the safety features of your old car. Are the safety belts, airbags, and breaks working? Does it have visible tire treads? Compare it with the characteristics of a new car such as back up cameras and electronic stability control. Is the mention of such worth anything to you?
If your financial fortunes were great, you would whip out your wallet and go for the car of your choice. Let’s say you had the money to pay for the down payment. Would it be an excellent time to commit yourself to pay the monthly payments? Ideally, it would be good to pay at your on conducive time rather than out of desperation. Getting that new car isn’t going to solve your financial woes. Look at your car’s condition relative to your finances. You’ll definitely have a sense of priority.
Maybe your dad bequeathed you with the junk car. He took your mum on her first date with that rust bucket. I get it, I really do. Sentiments aside. You’ll need to have a clear perspective since emotions and finances are at play here. Should you fix your junk car or sell it? Weigh your options critically. I hope you come out with a better deal on this one.