Some cars are more than a decade old, have 100,000 miles on the odometer and still run like new. Others, however, need constant repairs and might need to be replaced after just five years. It is important to know when it is time to get rid of an old car. If you have an old car that you are on the fence about, use this guide to decide if you should repair the car, sell the car or just dump it.
1. Constant Small Repairs
If you find yourself getting repairs done on your vehicle every month, you might need to sit down and determine if you are spending more on the car than you realize. When small repairs are needed constantly, you might not see just how much money goes into your car each year. Look online or speak to a mechanic about how much work is typically needed for your model and year. If you can expect more repairs in the future, then it might be worth selling your car and choosing a more reliable option.
2. One Big Expense
Rather than dealing with continual small repairs, some people are faced with one major engine problem. If you are dealing with a repair that will cost thousands of dollars, think carefully about the value of the car and whether or not it is worth it. It may actually be smarter to sell the car at a reduced price and invest in a new vehicle that won’t need any unexpected repairs in the future.
3. Rust or Damage
Although cars are designed to be practical, they also have aesthetic value. If your car is beginning to rust, it may be time to retire it. Rust can be removed and the car repainted, but once you have rust on your vehicle it is hard to stop it from spreading or cropping up in new places on your car.
When you first bought your car, it may well have been a practical purchase. If it is no longer necessary, however, you might want to sell it and choose a replacement. If you bought a minivan to accommodate a large family but now have children in college, for example, it may be time to get rid of the vehicle.
5. Gas Mileage
As gas prices continue to increase, the mileage you get from a tank of gas may play a role in getting rid of an old car. Many older cars require so much gas to run that they are simply not worth keeping around.
Although you might have enjoyed the use of a great car for years, not all cars can last forever. It might be smarter to get rid of an old car for the reasons listed than to continue to invest money in a failing vehicle.
Dave Hendricks is a guest blogger for www.cashfortrucks.com. Go here for more information on what to do with old cars.