Traveling by plane is looking less desirable with the current state of the country. Many people may be considering upgrading their vehicle. The shiny new cars in the commercials are giving a bit of car envy. While purchasing a new car is exciting, there are many benefits to keeping your older vehicle. With consistent vehicle maintenance and repair, an old car can last well over 200,000 miles. There are a few benefits to walking off the lot and keeping your old vehicle:
You save extra money on car insurance.
New cars traditionally cost more to insure, especially if they are being financed.
No car payment.
Unless you purchase your car flat out, you may need to finance it. Financing your vehicle will cost a lot more in the long run, based on the interest rate. Depending on how old your vehicle is, you may not have a car payment anymore. It may be more cost-effective and worthwhile to take care of a car you already own. As a depreciating item, a new car loses its value the moment it’s driven off the lot, and that’s money you’ll never be able to recoup.
Maintenance and repairs may become more affordable with time.
New vehicles come with sophisticated engines that require complex repairs. With the assumption that you took proper care of your vehicle, maintenance of an older car can be straightforward.
Less emotional attachment.
There’s no doubt that you love your old vehicle, but it will break your heart a bit more if your new pair of wheels gets scratched or dented up.
Older vehicles have cheaper licensing fees.
Sometimes the newer your vehicle is, the more expensive the state automotive fees can be. The required ownership taxes for each car will decrease with age.
Don’t hesitate to bring your older vehicle into McSpadden's Tire and Automotive. If you need expert advice in Buda, TX, we’d be happy to give your car a complete bumper to bumper inspection. This comprehensive inspection can indicate how much more life your vehicle has left and whether you need any repairs. This can help you decide whether purchasing a new car would be in your best interest. For some drivers, it may be best to maintain the vehicle they already have. Give us a call today if you would like to schedule an inspection.