Is your vehicle spending additional time within the shop or perhaps in your driveway? “If you have a large repair bill it's tempting to want to ditch your vehicle,” says Ellsworth Buck, Vice President of Insurance, Florida's leading independent car insurance agency.
Most automotive experts agree, you will emerge on top financially by fixing your car. Car repairs are nearly always less expensive than buying a new car. But, will this function as the last repair you'll need for a while, or are more nearby?
Saving money is a big help to fixing your car, but could it be reliable? Keeping it safe for you personally and your loved ones requires not only addressing major repairs, but regular maintenance as well.
Not will just it will save you money but also time. Car research and shopping need a significant commitment out of your schedule. If you're in a season where cannot spare a minute, wait and don't make a rushed or regretful decision on the car.
And then there's a time to let your vehicle go. Automotive site Edmunds recommends when the repairs exceed the vehicle's value a treadmill year's worth of monthly payments on a replacement, upgrading is warranted. Higher price repair items may include a blown motor or failed transmission.
“A significant advantage in buying a new car, are advanced safety features, which makes it more reliable,” says Ellsworth Buck, V . p . of Insurance, Florida's top independent auto insurance agency.
Keep in mind, the vehicle is not the only new expense you'll cope with. New cars require upgraded car insurance in addition to licensing costs, registration and taxes.
What you'll eliminate are endless repair costs. Most new and certified used cars include the bonus of warranty and free maintenance periods.
Consumer Reports found significant variations in maintenance cost between 3, 5 and 10-year-old vehicles. Here are the average maintenance costs over a 12- month period from 25 car brands.
3-year-old (2021) $83
5-year-old (2021) $200
10-year-old (2010) $458
The three-year cost is kept low because several car brands offer free maintenance periods on new cars. Costs really increase when the warranty and free maintenance period ended. This might assist you in deciding how “new” you want your vehicle.
Whether your vehicle is fresh from the lot or has logged serious miles, we've got you covered. Contact Insurance for reasonable and dependable auto insurance that suits your requirements.
