Make the right choice when deciding whether to ditch or keep your ride
The average age of vehicles on the road rises and falls, pretty much depending on the current economic situation. When times are good, people have more money, and their cars are younger. When times are bad, there isn’t as much money floating around, so people hang on to their cars longer.
Proper maintenance can go a long way toward keeping those older cars on the road longer, but major car repairs can quickly stack up and make us wonder, “Is ‘old reliable’ still reliable enough to repair?” and “When is it time to look for a new car, or at least a newer car?” We wish the answer was simple, but it turns out there are a lot of factors involved in making the decision to stick with what you already have, or spring for something newer.
Generally-speaking, you need to try and separate sentimental value from the monetary value of your car. In other words, how much is your car really worth? Also, how much would it cost to buy a new car or newer used car? That way, when you look at how much maintenance and car repairs cost, you can judge whether or not it’s worth your hard-earned money to: a) repair the car, or b) replace the car.
