Should I Fix My Old Car or Buy a New One?

There is one particular moment in our lives, especially for those that are car enthusiasts, when one of our favorite cars started to break down and become unusable. Now, in this situation, we are left to make a decision on whether we should fix the car or just get a new car or buy used cars in auctions and marketplaces.

Both of the options would have their own pros and cons, so it is important to discuss the different aspects of those options so that you will have a better idea of which one is most suitable for your situation. Here are the various details about fixing your old car or getting a new one.

Fixing an Old Car: The Pros and Cons

A lot of people would usually try to fix their favorite car first, as most of them believe in the sentimental value of the vehicle. If the car was a gift from a loved one or if it has a special story, like the owner saving money for many years to purchase the vehicle, it would be much more difficult to let go of the car, even if buying a new one is the best option.

Thankfully, most models of cars available today can easily be fixed or repaired, as spare and individual parts can be purchased in auto stores and auto retailers worldwide. However, there are specific caveats when it comes to purchasing these parts. To know more, here are the pros and cons of fixing an old car.

Pros

  • It is usually less expensive to repair or replace parts of a car rather than to buy a new vehicle.
  • You will be able to keep your car if it has sentimental value.
  • Some issues with your old car can be fixed at a relatively affordable price.
  • If you can only fit one car in your garage, fixing the old car will be the best option for you since you won’t have space for a new car unless you will be able to sell the previous vehicle.
  • If you have already gotten used to the feel of your old car, fixing it will make it last longer so that you won’t have to familiarize yourself with a new car, which can take days or weeks.
  • Save money on insurance and registration fees that are needed when you buy a new car.

Cons

  • For serious issues with your old car, it would sometimes be cheaper to just buy a new car rather than to fix the one you currently own. Шt’s better to use the vin decoder to make sure there hasn’t been any major damage in the past.
  • A repair on an old car may become unsuccessful and may create more problems than solutions depending on the age of the vehicle.
  • An old car needs plenty of maintenance, so you may need to be ready to afford multiple repairs if you don’t want to buy a brand new car.
  • Old cars can be quite unpredictable, so you will never know when it would need a new set of repairs.

Buying a New Car: The Pros and Cons

parked new car

If your old car doesn’t really hold a sentimental value for you or your family, then it would be much easier for you to buy a brand new car. A new car may offer you new features that can be beneficial for your driving experience, and it may usually feel much better to drive compared to an old car. However, there may be issues that may arise whenever you buy a brand new car, and these issues won’t really bother you that much, depending on how willing you are to fix them. Here are the pros and cons of buying a new car.

Pros

  • A brand new car would require little to no repairs in the long run compared to old cars that may need constant maintenance and repairs.
  • A new car that you can get from auto dealers and auto auctions is much safer to use, unlike old cars that can sometimes be unpredictable and may sometimes break down unexpectedly.
  • Buying a new car can sometimes be much cheaper compared to fixing old cars that have so many major damages or issues.
  • The most recent cars would have advanced safety features like airbags, security cameras, and automatic collision detection systems.
  • New cars are typically more reliable, so you can use them for longer trips or drives during the weekends or whenever you and your loved ones decide to go on a road trip.

Cons

  • Buying a brand new car is mostly more expensive than fixing an old car with only minor issues.
  • You would need to take care of new insurance and registration fees, which will require you to make an effort to go to numerous offices and agencies near you.
  • Using a loan to buy a new car would require a long-term financial commitment.
  • If you only have one space for a car in your garage, then you may need to get rid of your old car first before you can buy a new one.
  • Selling an old car can sometimes be difficult, so it may take you a while before you can actually purchase and use a new car.

Which Option is the Best for You?

dashboard of a new car

Now that you have seen the pros and cons of fixing an old car and buying a new one, we hope that you will have a much easier time making a decision on what to do with your current vehicle. If you do have the budget, you can just buy a new car, although you may need to get rid of the old car first by selling it as a whole or selling it piece by piece. 

Luckily, there are many people that like to buy unusable cars or spare parts that are still in good condition, so you may be fortunate in selling your old car in just a few days or weeks. But, if the old car has sentimental value, it would be best to just keep it in your garage if you have extra space for it.

If you also want to save a bit more money in buying a relatively brand new car, you can visit auto auctions, where you will be able to purchase cars that are in mint condition and are not used that much by their previous owners. Be sure to check all the options available before you actually buy a new car.