Owning a car is all fun and games until it starts needing repairs—and then more and more. And generally, as your car ages, the repairs get more demanding and more $$$. And, of course, your car value goes down with age as well. Next thing you know, you’ve invested a lot of money in an aging machine, and at some point you’ll need to ask yourself—should I repair my car, or is it time to let go?
And to this we say, there is always one clear answer: Sell your car to Peddle. Juuuuuust kidding. (Well, kind of.)
BEFORE you make any decisions, let’s run through the factors you should consider.
First, figure out precisely how much the whole repair process will cost—get a quote from your mechanic, price out the parts, and consider your own time as well, especially if the repair will take away from time at work. (Spending money < making money.) Other factors to consider include the frequency of the repairs and your car's value. If the repair costs more than 75 percent of the car's value, your insurance company can declare it a total loss vehicle.
Let's look at this example: If you have a car that's worth $5,000 and its total repair cost is $1,000, that means your car's value should appreciate to $6,000. If you think it is possible to sell your car at $6,000 and find a willing buyer, repairing your vehicle sounds like a viable option.
On the other hand, if your car costs $5,000 but the total repair costs is $4,000, that means you should be able to sell your car at $9,000 for you to recoup your money, but it’s highly unlikely. In that case, a repair would be less optimal.
After analyzing your vehicle, if you think repairing it is the way to go, consider the following:
1. shop around for a car repair doer
Assuming you don’t have a preferred mechanic, you should not accept the first quote you get. Ensure that you have an initial diagnosis from a trusted dealership, then negotiate the repair costs. The first offer is usually …exaggerated, so look for ways to reduce it by negotiating or looking for alternatives.
2. figure out what car repair you can do yourself
While it's true that most car repair services require a professional touch, there are some that you can do on your own. Get the brakes fixed at the shop, for sure. But you can probably find a market replacement for your door handle and do that yourself. (It’s amazing what you can learn on YouTube!)
Given that you have been driving the vehicle for a considerable amount of time, you probably understand how the basics work. Figuring out what repair services you can do on your own helps reduce the overall repair costs.
3. decide what can wait
If you get a repair quote that you are not comfortable with, look for additional options for reducing it. Ask your mechanic what needs to be fixed urgently and what can wait. However, do not skip the crucial safety features such as tires, timing belts, and brakes. You can stay without automatic windows for some time, but safety first.
4. have a budget for future car repairs
Truth bomb: If you’re asking yourself whether you should sell or repair your car, your car is probably close to the end of its road anyway (we know that’s sometimes hard to admit or fully realize). Even after you choose to repair it, you should be mentally ready for the next repair or breakdown. You should always have a backup plan or budget, if you can.
The decision to sell a troublesome car should be an easy one, even though you might have developed an attachment to it. To determine whether or not to sell your vehicle, calculate the total repair cost. If it costs more than 75 percent of the car's value, selling it is ideal.
Some of the most expensive parts to repair in a vehicle include the air conditioner, compressor, brake line, catalytic converter, head gasket, camshaft, suspension, transmission, hybrid battery, and cylinders—pay attention to these.
Figuring out that you need to sell your old, damaged car is one thing. Finding a buyer is another, amiright? Who buys used cars? Especially super-used, low-value cars for cash?
Fortunately, for the very-used car owners of the world, Peddle buys all kinds of cars for cash. Doesn’t matter how damaged, or broken down, we’ll even pick it up, free.
To get cash for junk cars with Peddle, all you need to do is visit peddle.com, answer a few questions, get an instant, no-pressure offer, and accept it (or not) within seven days. Then, you create an account, easy peasy, and schedule your pickup.
We’re gonna be frank with you here. If you’re reading this article, the chances that your car is actually worthy of a repair are pretty low. And selling your damaged car to a reliable car dealer (like us!) is an easy option.
If your car is stressing you out, why not get a free, no-obligation, instant offer? It only takes a few minutes and we won’t even ask for your contact info unless you accept. Peddle is all about making the car selling process easy and awesome. Get an instant offer today!
Finally retiring old-trusty? Get an offer in minutes-it's easy as pie