In today’s fast-paced world, owning a car is a necessity rather than a luxury and that goes even more for people living in the UAE and driving every day. It doesn’t mean that you can’t pamper your car; it just means you simply cannot do without a car these days. Whether your car is Toyota or Mitsubishi, just like other machines, every car do wear down after a certain period of time and a certain thousand kilometers. When this happens, you are faced with an axe to get it repaired or see it get deteriorate. While every one of us tries to get it fixed, there are situations when we have to decide – weather to retire it or repair it. If you are in such turmoil, here are 5 LOGICAL points that will help you take the big decision!
When repairs or maintenance costs more than the car’s worth.
Do some basic calculations and take the decision. Get an estimate of fixing the car from a mechanic and then take your car to a dealer. Ask him to quote the best price if you were to sale it then and there. Since now you have both the cost of repair and current worth of the car, the decision won’t be hard to make. Apply the simple “50 percent rule”, when your cars repair cost has reached to 50 percent of its worth then it’s the time to replace your old box.
Keeping your love for your old car aside, do watch it for your own safety. Keep in mind that not only the older and carelessly maintained ones, even the well-maintained cars wear out. I would recommend you to consider all the risks of breakdown while driving. In this advanced technological world, new cars are equipped with a long list of safety features like SRS airbags, ABS+EBD (Anti-breaking system and Electronic brake force distribution), anti-theft alarm and rearview cameras. Obviously your old car would not have these unless it's an Audi R8 or Ford GT, or BMW M4 or Lexus LFA and hence your old car should be replaced.
Your car is eating more gas
If the car is consuming a lot of gas per kilometer, than what it was consuming a year ago, it has lost its fuel efficiency and it’s time to bid it adieu. You might know the fact, the older your car is, the less fuel-efficient it gets. Even if you get it fixed, thanks to the old technology it will get back into its bad shape and keep on asking for more fuel unless you want to save it for Cadillac Ranch or car museum purposes. Also consider the fact that the repair cost of an older car will keep on increasing with time.
Follow the laws
The government has laid down a few automobile rules that need to be followed while on the road. These laws state the minimum conditions that your car must meet to be on the road. Get a quick check done of your car to see if it follows all the norms. If not, it would be wise to get rid of it and invest in a better car.
For the sake of LIFESTYLE
Lifestyle changes and so does the society; and believe me change is good and you should be a part of it. Do you have plans of growing your family? Have you expanded your business and facing the loading problem? Dude! You are in need of a new car. Your old car might not be able to bear the all the burden and new responsibilities and hence must be replaced.
Repairing or selling off is a critical decision to make. While you might be blindly in love with your automobile, sometimes the machine ceases to respond back with similar care; and when this happens, it can get harsh for your bank balance. Next time you take your old hooptie for a repair, do consider these 5 things.