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It’s not exactly a secret that the major auto manufacturers are struggling right now. In fact, they are struggling so much that they are offering unprecedented deals in terms of financing and pricing. The trouble is that many of us are struggling financially as well, but for those who can scrape up enough cash to potentially purchase a new vehicle, the deals seem too good to pass up. Does that mean you should get rid of your old trusty auto?
Reliability
The first thing to keep in mind when making the decision of whether or not to get rid of your old auto is its reliability. Many auto magazines and other publications (i.e. Consumer Reports) usually rate autos on their reliability over a certain period of time. The trouble is that many autos are not tested until they hit six digits on the odometer. Granted, some autos are, but for the most part any idea of longevity is hard to come by. In times like these, it is up to you, the owner to decide on the reliability of your auto. No matter the mileage on your auto, ask yourself if the auto has been relatively problem free. What I mean by problem free is if it has had any major breakdowns, (i.e. transmission failures, major engine issues, etc.). Only you know how you drive your auto and how hard you are on it. If your car has never caused you trouble, then your old auto may be worth holding on to.
Maintenance
As always, maintenance is vital. If you have maintained your car well since you have owned it, there is a good chance that with more care, it will continue to last. By simply changing your oil and other various fluids on schedule, you are not simply ensuring that your auto doesn’t break down in the short term, you are conditioning it for the long term. The less wear an auto has on its drive train, the better off it’s going to be in the end. For example, would an auto whose owner changed its oil every 3,000 miles last longer than an auto whose owner changed its oil every 11,000 miles? It’s as simple as that.
Is 100K It?
The old adage is that if an auto hits 100,000 miles (about 160,000 kilometres), it is essentially done and you should take whatever you can get on a trade-in. Again, first assess the reliability of your auto. Has it been relatively problem free over the past 100,000 miles? If so, the mileage on the odometer isn’t necessarily a bad thing. Then, assess how well maintained the car has been in your care. Have you changed the oil and other various fluids on schedule? My theory is that you know what has gone wrong and what has been replaced. It doesn’t matter if it is just brakes, tires, bearings and whatever else there may be; you have a unique knowledge of your auto. You know what is new, what is old and may have an idea of what may go out next. If something major going out is on your mind, it may be time to move on.
Weigh Your Options
I understand that some of us have bad luck and have purchased autos new and used that have been nothing but trouble. In cases like that, it is much easier to get a new auto and get rid of the headache. If you currently own an auto that is packing on the miles and has been no trouble, I still do not blame some for making the move to a new auto. In some cases, it is cheaper and easier than potentially shelling out money for repairs on an old auto that you could have used towards a new one. In other words, if you find a deal that you cannot pass up, you might as well take it.
On the other hand, times are indeed tough and holding onto your old auto is the best financial choice for the time being. If you have maintained the auto well and it has been reliable since you have owned it, just keep up on the maintenance and you should be good to go until you can afford a new auto. It may be cheaper to replace a few parts here and there instead of purchasing a new auto.
The choice is up to you.
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