When your old Audi has served you well for years, it just seems natural to repay that favour by putting money into it when it needs repairs. However, if the repair in question is a major one, you may be wondering whether it's finally time to bid a fond farewell to your Audi. Here's what you'll want to consider when you're trying to decide if your car is ready to retire.
Your Monthly Repair Cost
Whilst you might think that your monthly repair cost isn't very high, adding up those costs and averaging them out can tell a different story. If you spent several thousand on car repairs last year, that means you spent a couple hundred dollars (or more) per month on average. If you were to get a new car, the money you're spending on repairs could be applied towards payments on that new vehicle.
Your Insurance Cost
Many people neglect to consider insurance costs when they're trying to decide whether to buy a new car, so make sure that you think about it before you get a shockingly high insurance bill after buying a new car. In most cases, the insurance on a new vehicle will cost significantly more than it does on your current Audi—possibly twice as much or more. Contact your auto insurance provider to inquire about insurance rates on the model of new car that you're considering. The difference might be big enough to convince you to keep driving your old Audi for a while longer.
The Value of Your Vehicle
Once you know the cost of the repair that you need, you can use your car's current value to help you decide whether it's worth it. Check your car's current value using a resource like Redbook—you can enter all the exact specifications to get the most accurate value possible. Now, compare that value to the cost of the repair. If the cost of the repair is higher than the value of the vehicle, it may be time to seriously consider a new car instead. Even if the cost of the repair is around half the value of the car, the repair investment might not be worth it. After all, when you're dealing with an older car (or just a car that's been driven a lot) this is probably just one of many repairs that you'll have to deal with in the future. At some point—possibly now or quite soon—it might seem like your car is a travelling money pit.
Use the three things above to help you decide whether to opt for Audi car repairs or a brand-new car. The choice might just be clearer than you thought!
Share21 June 2018
My name is Donna, and I love my toys! I have an ATV, a caravan, a boat and a range of other "toys". I find that there is a lot of information online about auto service but not that much about servicing fun types of vehicles. Inspired by the phrase "be the change you want to see in the world", I decided to start a blog full of information that is usually hard to find online. I will write about servicing toys, vintage cars, sports cars and a range of other topics. I hope that you like these posts and that you learn from them. Thanks for reading and enjoy your toys.