Is your car starting to show its age? Perhaps it’s not quite driving as it used to, or it’s begun to make a slightly concerning noise. Maybe the fault is one that has reared its ugly head on more occasions than you care to remember. If that’s the case, you might just be asking yourself “Is it worth buying a new car?”
The majority of modern cars are reliable and will serve us well for a number of years. But no matter how much you love your wheels, there’s always the possibility of issues cropping up that need addressing. And when they’re expensive – or they happen regularly – it can leave us with a difficult decision to make.
The average cost of common car repairs will vary depending on the age, make and model of your vehicle, but there may come a point when you feel enough is enough and you want to rid yourself of the hassle that comes with multiple trips to the garage.
But the tricky part is knowing when to buy a new car instead of repairing. Of course, everyone’s situation is different and there’s no one-size-fits-all answer, so it’s important to make the choice that suits you. Hopefully this post will help you decide.
When to buy a new car vs repair the old one
Research has shown that just keeping your car on the road costs the average UK motorist £162 per month – and that’s before you include any finance payments. But of course, they’re an essential mode of transport for millions up and down the country, so it’s not like we can all just do our away with our wheels – even though a recent poll suggests 22% of people claim they’ll drive less after the coronavirus lockdown.
Buy a newer car or keep repairing the old one? The pros and cons
If you’re wondering about when to buy a new car instead of repairing your current one, there are plenty of things for you to consider:
Repairing your old car: the benefits
- Cheaper in the short term: The amount you spend on fixing a problem can vary widely depending on the nature of the fault as well as the age, make and model of your vehicle. However, studies suggest the average cost of unexpected repairs on a used car is £603, which is likely to be significantly less than what you would pay for a new or second-hand model.
- Buy yourself some time: Keeping your car on the road for a little longer will enable you to save up some extra money to put towards a new purchase when the time does come. Additionally, you won’t have to worry about depreciation, with the average new car said to lose 60% of its value over the first three years.
- Sentimentality: This might not be the most practical of reasons for choosing to repair your car, but it’s still an important consideration. It may hold many precious memories for you, and giving it up may feel like a betrayal. If that’s of more value to you than a repair bill, perhaps you can delay the decision a little longer.
Buying a new car: the benefits
- Safety: This should be a primary consideration in knowing when to buy a new car instead of repairing. Faults to major components such as the brakes, gearbox, clutch and steering could seriously endanger yourself and other road users and if you’re worried about old problems reoccurring, it’s perhaps a sign that it’s time to move on.
- Peace of mind: Buying a new car that has been comprehensively checked and has no history of unreliability means you can take to the road feeling confident that you won’t be scuppered by any unforeseen and expensive issues. You can’t put a price on that sense of assurance.
- Cost-effective in the long term: Although buying a new car is likely to mean a larger up-front expense, continuing to pay for hefty repair bills on your old model may cost you more in the long run – especially if you shell out to fix a part that soon breaks down again and leaves you needing to purchase a new model anyway.
Knowing when to buy a new car instead of repairing: Robins & Day are here to help
Ultimately, the decision about whether to buy a newer car or keep repairing the old one is entirely up to you but whichever you choose, Robins & Day can help.
If you’re worried about the reliability of your car, you can always book in for a service and MOT, or sign up for a vehicle health check – a complimentary offering that comes with all repair work. We also have various parts hubs across the UK with plenty of brand-trained staff at each one, so you can be sure your car is in the safest of hands.