Should I Fix My Junk Car or Sell It?

It’s surprisingly easy to form an emotional attachment to a machine you use each day.

When your vehicle is new, it often seems as though you could never part with the car or truck. This is especially true after you’ve owned it for a few years and have gotten used to driving it each day. However, the time eventually comes when you start to wonder whether taking the car in for additional servicing at the dealership or at your local mechanic’s shop is worth the money. The questions soon becomes, “When should I fix my junk car and when is it best to just sell it to a cash for cars program?”

To help, here are a few things to think about when making this important decision. 

Consider Your Current Vehicle’s Value

Some old clunkers are actually worth a fair amount of money, particularly when they’re popular with vehicle enthusiasts who like to make modifications. Additionally, owners of those vehicles may need extra parts for their car and may only be able to get them when someone sells their car to a cash for clunkers program.

Because of this, if you’re driving around in a clunker and you’ve been spending a lot of money getting it fixed, it’s a good idea to look into the expected sale price of your vehicle. You might find that your car is worth enough to provide the money for a down payment on a new or certified used vehicle.

Look at Your Repair Costs

Unless you have the money to buy a car in cash, you’ll have a monthly payment on your vehicle. Many people choose a new or newish car and a monthly payment over an old car with no monthly payment because the new car is under warranty and less likely to need unexpected and costly repair.

Examine the receipts you have that are connected to your vehicle. Outside of regular and expected costs like maintenance, are there many trips to the mechanic? Look at the type of repairs your vehicle has required over the past few years.

Has the vehicle required major work, such as a new engine or transmission? Or, has the work been mostly cosmetic or routine, such as a new belt, filter, or air conditioning charge?

A vehicle that has required costly maintenance might continue to cost you a significant amount of money. You might be able to save money by investing in a new vehicle, a leased car, or a used vehicle that’s newer than what you’re currently driving.

Never assume that your current vehicle is worthless, even if you’ve decided to buy a new vehicle. Additionally, always think twice before trading your vehicle in to a car dealership or selling your car to a scrap yard.

Getting Cash for Cars from North Texas Auto Buyers

If you decide to buy a new car after you sell your old vehicle, it’s essential that you don’t forget about the value your old car can bring to your transaction. North Texas Auto Buyers will help you get the most money for your clunker, even if you think it’s barely worth the price of scrap metal.

Are you considering trading in your car? North Texas Auto Buyers might be able to get you more for your vehicle! Contact us today to get a free quote.