When is it time to buy a new car? Is it when you need to start making repairs? Is it when you can afford a new automobile? This is a dilemma I am currently facing. Is it worth keeping your old cars knowing you will have problems with them but the chance of having a problem out ways the new monthly payment you will have to take on.
I have two cars a Dodge Durango and Chrysler Concorde both about ten years old. Both of my automobiles have over 140,000 miles on them and have needed to be fixed over the last three years. Is it time for me to bite the bullet and trade at least one in or should I hold off. If I had to part with one would be the Concorde it has about 20,000 less miles on it and already has major repairs done to it. A few years ago it needed a new engine, then more recently a new timing chain both pretty expensive fixes. The engine cost well over $2000 and the timing chain around $1200 but the vehicle has been paid off for 5 years. How I see it I made out, $3300 over 5 years breaks down to $660 per year or $55 per month. It’s a lot better than a $350 per month payment.
Our Durango is also paid off but has more miles on it The only real problems it has had has been around the air condition unit and a mishap by my children. My kids jammed money into the CD player causing the radio to short out. The total to fix both was $1300. Our reason to keep the Durango is because it is more useful to us.
So my dilemma again is, is it a good time to consider purchasing a new vehicle? My wife and I have been deliberating over it for a while now. I have a few reservations about getting a new vehicle. The first of course is taking on a hefty new payment. We would want another SUV if we purchase. We do a lot of outdoor activities, canoing, camping, snowboarding ect., so we need something to lug our gear, kids and clothes. With our Durango also older we know over the next few years we will also need to replace that vehicle. So to us it just makes sense to get the SUV first as a more reliable vehicle we can feel safe in on longer trips.
Reliability is our 2nd reason we are considering a new automobile. Since both of our cars are older there is a reliability fear that lingers over us on longer trips. This would be solved with a new car.
Another issue to look at would be our insurance rates. They would go up by at least $100 per month with a new automobile fully covered. Even if I applied all the discount auto insurance techniques I know.
It may not be time to purchase right now with the holidays coming up and our finances kind of low but this is something we will need to look at within the next year. The reliability and safety factors out way the new cost we will have to endure. After the holidays we will be on a vehicle hunt. Should we buy brand new or something with low miles a couple of years old. Hmme, This sounds like something to write about next.
Click Free Insurance Quotes Online to compare multiple Auto Insurance Quotes Online.
RSS FEED
