When to Repair or Trade Your Vehicle

Things can go wrong even when you’ve strictly followed your car maintenance plan and never missed an appointment. If you need major repairs, it can be a huge financial drain, and you may find yourself considering trading in your old vehicle for a new one. If you’re weighing the pros and cons of each, here are a few questions you should ask yourself.

Do the Repairs Cost More Than the Car is Worth?

The cost of repairs versus the value of your vehicle is one of the biggest factors you should consider. If you only need minor maintenance such as new tires or brake pad replacements, paying for the repairs now will likely be worth it. Even some quick fixes such as spark plug replacements or repairing an oil leak, can fall within a reasonable price range. However, things like transmission or engine work can cost $3,000 or more. If the cost of repairs is more than the car is worth, it might not be best to trade it in before it depreciates even further.

How Often Do You Need Unscheduled Repairs?

The team at Tarr Chevrolet is a friendly bunch, but if you’ve gotten on a first-name basis with everyone in the service department, your vehicle has likely reached the end of its lifespan. Not only has the vehicle become a financial drain, but it’s likely to become a major source of stress and inconvenience as well. Take a moment to add up all the repair costs your vehicle has accumulated over the last 12 -24 months. Include the costs of rentals, towing, or other related expenses. If keeping it on the road for the last year has cost you more than you can expect to sell it for, consider trading it in.

How Old is Your Vehicle?

Your vehicle is getting up in years. Sometimes the costs of repairs haven’t yet tipped the scales in the direction of a trade-in, but the age of the car still makes more sense than repairs. Compare the number on the odometer to the average lifespan of a model like the one you own. If you can reasonably assume that you’ll be able to drive it for several more years, getting repairs could be a good idea, especially if you’ve already paid it off and can squeeze in a few more car-note-free years. If the typical retirement mileage is quickly approaching though, you might want to consider cashing in on it a little earlier and reaping the benefits of its relatively good condition before it depreciates any further.

Are Emotionally Attached to Your Car?

Cars aren’t just a source of transportation. They can carry an emotional value that can’t be quantified. If you’ve had your car for years, it likely holds countless memories, of vacations, road trips, and family outings. While the sentimental value you place on the vehicle is understandable, it is important to think practically. If it doesn’t make financial sense to keep it, consider other ways to encapsulate its sentimental value that won’t continue to impact your bank account. Frame the license plate, take one last photo in the driver’s seat, then hand over the keys and start hunting for a new vehicle to make new memories in.

Repair or Trade Your Vehicle at Tarr Chevrolet

Whether you decide to keep and repair your vehicle or trade it in, the team at Tarr Chevrolet is here to help. We offer Jefferson City, TN, a great new and used car dealership, and a service center staffed by expert technicians. You can depend on us to provide you with a competitive everyday price on major and minor repairs and get you back on the road as quickly as possible. If you’ve decided to say goodbye to your old car, our team will provide a fair trade-in price and help you select a new model that is right for you.