The past year or so has been an incredible journey, hasn’t it? Covid has interrupted our lives in so many ways, and now, it is interrupting common businesses, such as new and used cars.
Chances are that you haven’t driven your current car very much in the past year but now that things are slowly returning to normal, you may wonder if this would be a good time to get a new car.
As of May 2021, Kelley Blue Book rolled out their market analysis showing that the price of new vehicles is 5.4 percent more than the same month a year ago. Even more shockingly, this figure represents a huge jump compared to April of this year with an increase of 1.2 percent. When you consider that the average cost of a new car is about $41,000, and the average new car monthly payment is well over $600, is it any wonder that people are keeping their current cars longer than ever before?
Should you invest in your current ride or consider a new one? Let’s take a look at the numbers.
It’s Cheaper to Keep Her
That’s an old R&B song title, but when talking about an older model, you sometimes need to consider whether you are throwing good money after bad.
When do you finally say “Enough!” and ditch your old car or truck?
1. Get The Experts Opinion
Of course, it’s almost always cheaper to repair your old car. Imagine putting that $600 a month into your old car for three or four months. It may make your old car run and feel like new again.
However, if your older vehicle needs a huge repair and also needs other repairs and maintenance found during an inspection, then it’s probably time to go car shopping and weigh out your options. The service advisors at My Mechanic can provide you with the information you need to help you make that decision.
2. Consider Your Vehicle as a Whole
You should also take into consideration your vehicle’s overall condition, however. If your car has been well-maintained, looks nearly new, but the transmission has blown or the timing belt is shot, you may find that a single repair, even though it is expensive, can keep your vehicle going down the highway for another 50,000 miles. That’s about 4-5 years more that you can get out of the vehicle for that one repair.
Vehicles that have more than 100,000 can sometimes nickel and dime you to death with minor issues, such as batteries, tires, brakes, a fan clutch, hoses, and belts, but these small items can be less than you would make in a single monthly payment for a new car.
One Helpful Tip No One Mentions
The fact is that having a local mechanic that you trust can help you with your decision to sell your old ride or keep it.
There are a few unscrupulous mechanics who will tell you that the car should be kept but their advice comes from the fact that they can see that the car will need numerous repairs. This means more money in their pocket.
A local mechanic that you can trust, such as the expert mechanics at My Mechanic, will give you an accurate idea about how much life your vehicle still has left, as well as the types of repairs it needs now, what might happen in the near future and their thoughts as to whether your old car is worth putting more money into it.
The Benefits of a Local Mechanic
The pros at My Mechanic aren’t afraid to tell you that your current car, truck, or SUV has outlived its useful service life. Why? Because they know that they will still have your business.
New cars do not have to be serviced at the dealer. Unless your new vehicle is a lease and the lease states that you must have work done at the dealer, you can have your new car serviced anywhere.
Having a local mechanic that you can trust is worth your car’s weight in gold! The ASE-certified repair pros at My Mechanic will have more affordable prices than the dealership and chances are that our hours are much more flexible than the dealer.
Of course, if your new car has repairs that will be covered under warranty, My Mechanic will let you know so that you don’t pay for repairs that the dealer will handle.
Last, but not least, having a local mechanic that you trust means convenience you can count on.
Did You Know We Have Two Locations?
For even more convenience, My Mechanic has two locations to serve you, Elmhurst, and Clarendon Hills.
The pros at My Mechanic care about you and your vehicle. Whether you decide to keep your current car or if you get a new car (or a second hand “new to you” car) we want to help you keep your car in the best and safest condition possible.
At the End of the Day
If you aren’t sure what repairs your car might need, whether you are trying to decide to keep your car or get a new one, or if you’ve purchased a new car and it will need service soon, let the experts at My Mechanic help.
We enjoy building relationships with our clients. We offer ASE-certified mechanics who live in your neighborhood, so they understand you and your family.
My Mechanic is locally owned and operated, which means we offer more personalized service than a dealership. We will go over and above to make our customers happy. Can you honestly say that about any new car dealer?
Call the friendly pros at My Mechanic today. We want your business!
My Mechanic, in Elmhurst or Clarendon Hills, is the one-stop auto repair shop you can trust.
