It can be smarter to keep your car now because of interest rates, car prices, and inflation. We will talk about some of the things to consider when deciding to replace your car or keep it.
As your vehicle ages, there are maintenance services that have to be done at various mileages. Also, as your car wears, parts can fail and will need to be replaced. Both of these examples add to the cost of owning a used vehicle.
Oil services, tires, and batteries will need to be taken care of on newer vehicles just like your current car. Unlike most used cars, new vehicles typically will have a payment and higher insurance. Not to mention how high interest rates have gotten. According to Bankrate, in November 2023, new car rates range from 5.07% to 21.38%. The average car payment in the United States is $729.
It's easy to see how expensive a new car can be, but there are some rare cases when replacing a car is better than repairing it. In most scenarios, it is financially reasonable to maintain your current vehicle rather than buy a new one. So, if you enjoy your car, don’t feel bad spending money on maintaining it for a few more years.
When you bring your car to Crabtree, we will inspect it thoroughly to prevent unexpected repairs and unnecessary expenses.
At Crabtree Automotive, we work on all makes and models, even Diesels. From Honda to Audi and everything in between! So give us a call or schedule an appointment today using the link below.
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