Has your current visit to the car garage turned into nightmares? Did it induce you an impulsive desire to repair or replace your worn-out car? Well, it’s time to evaluate your decision. Nobody loves to shell out constant dirhams on maintenance every time or take the car every time to the garage for a repair to be done.
Often when it comes to choosing the one between the two – repair or replace, you would find it better to consider the math and identify the best time to trade up. You should consider below tips to settle out for one:
Perform the math
How much cost does it entail to maintain your car? This is the first question which comes in your mind when you think to repair or replace. You might be knowing once your car ages, it will result in more of repair and maintenance costs to bear. Shelling out a few hundred dirhams on upkeep and then spending a substantial sum on reconstructing the transmission or engine work does not make sense if the current market value of your car is not sufficient as per the market trend.
If repairs are not cheaper than your new car
You must be finding that the repairs cost you heavy then you purchase a new car. As old cars are prone to heavy-duty repairs such as failed transmission or a blown motor which may blow your pocket with several hundred or hundred dirhams. Sometimes you may feel comfortable shelling out some money and continue with your existing car. It is always recommended to engage a mechanic to determine if there are still major repairs to be done. If various parts are worn out and old, it is more prudent to sell it for a fair price now and consider buying a new car. Here, constant nagging yourself between repairing or replacing won’t be much judicious.
Estimate ‘overheads’
You might be annoyed about driving your worn car and longing to replace it simply because it does not make you worthy like a new car. But what to do, when you might be unsettling between repair or replace? It’s better to educate yourself of financial liabilities that come with buying a new car or cost of retaining the existing one.
It is understood that for a new car the repair and maintenance won’t be burdensome but the insurance premium would substantially be higher.
To obtain a better estimate, visit different companies website which offers insurance policies in the UAE. Compare with the quotes that fit your budget, then consider replacing it. Otherwise, continue with your existing car for a little longer.
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Safety first
Facing constant obstructions in the middle of the road due to sudden car breakdown? It’s time to think wisely when it starts occurring frequently. Does it worth keeping to spend your hard-earned money on consistent repairs? Plus, another thing to prefer is safety. Gone were the days, when cars manufactured used to have very elementary safety features over 10 years back compared to modern counterparts. New cars possess features such as anti-locking brakes system, front and side airbags, forward collision warning, electronic stability control. If you are a safety enforcer and your old car lacks many of these features, consider a replacement.
To conclude, when it comes to repair or replace, draw a better picture for both instances. Just because your finances are involved but should bring peace to your mind. Do your math cautiously and examine the pros and cons of a more constructive solution.