When an old car is damaged, there can come a point when you ask yourself: ‘Is this worth fixing, or should I scrap it?’. Fixing your car could allow you to keep using it, but there may be more expensive repairs around the corner. Scrapping your car could save you these potential repair costs, but you still need to afford the cost of buying a new car. All in all, it can be a tough decision to make. Below is a guide to help you make the right decision.
Signs your car is on the way out
It’s possible that your car may have reached a point where it is effectively falling apart. At this stage, all of the parts are likely to wear out one by one. While you can fix each of these parts, you’ll likely spend huge amounts in the process – money that could easily be spent on buying a new car. A few signs that your car is on the way out include:
- A mileage of over 100,000 miles.
- Major part failures such as faulty transmission or broken suspension.
- Constant small engine part failures in the space of a year
Reasons to fix your old damaged car
If your old damaged car has been fairly reliable up until now and you’re not looking at a major repair (nothing over $1000), it could be worth repairing your car. It’s likely there’s still life left in it yet no matter how old it may be.
If it costs a lot more to buy a new car than to get repairs or you ideally want time to look for a new car, this could be another reason to seek out repairs. You’ll also be able to sell your car in working condition instead of scrapping it – giving you more money to put towards a new car.
Just make sure you’re getting the best deal on repairs. With fairly expensive repairs, it can be worth shopping around for quotes (if you know the problem). Those that are DIY-savvy may even be able to carry out certain repairs themselves.
Reasons to scrap your old damaged car
If the cost of repairs is close or equal to the cost of buying a new car, you may decide that you’re better off scrapping your car and getting a new set of wheels.
Scrapping your vehicle might also be worthwhile if you’re fed up with the stress of seeking out constant repairs. If you need your car for work, it could even be affecting your livelihood – it may be time to get a new car.
There are companies such as Sanford and Son Junk Cars that can take your car away for you and pay you money for it, no matter what state it’s in. This could give you some money to put towards a new vehicle
So, should you fix or scrap?
If your car has been unreliable in the past and you’re currently facing another expensive repair, you might want to consider scrapping the vehicle. However, if the car has been fairly reliable up until now and you would prefer to wait and sell your vehicle in working order, fixing your car is the better option. Assess your budget and assess the costs involved to work out the best option for you right now.