When you have been driving the same car for a very long time, it can be tough to know when it is really time to part with it. Whether it's due to increasing repair costs or a growing family, there are some key signs that will help you determine if your car is still worthy of repair or if it's really time to start looking for a new one. Here are a couple of things to consider.
Is The Car Still Suitable For Your Family?
One of the biggest considerations is the most practical one. Consider whether or not the car is still suitable for your family. If you and your significant other have been talking about having more children, or if there's a baby on the way that's going to make the car a bit cramped, that's a key indication that the time to trade has come. If, however, your family has grown as much as it's going to, or there's going to be several years before you have a child, it may be feasible to put the money into repairs.
Will The Repair Provide Return On Investment?
Another key consideration is whether or not the repairs are going to be worth the investment. To determine this, you'll want to start by finding out what the value of your car is right now, before the repair. You can use an online value estimators to determine this. Then, you'll want to find out what the value would be if you do the repair. If the repair itself is going to cost you more than the difference in those two figures, it may not be worth putting the money into. You may want to start your search for a new vehicle.
How Much Are You Spending On Repairs?
Another thing to think about is how much you've been spending on repairs over the last few months. You might be hesitant to take on another car payment, especially if this one has been paid off for quite some time. However, if you're spending more in repairs on a regular basis than you'd be spending on a car payment, it may be worth your while to sell it and buy a new one. Your new one will typically come with a warranty that will cover any repairs for the first few years, cutting that expense. In addition, buying a new one will often save you money on gas because of increased fuel mileage.
If you have decided that purchasing a new vehicle is the answer for your family, reach out to a local auto dealer. A new Subaru for sale might be just the upgrade you've been looking for.