Author: Emily Guy Birken / Source: Wise Bread
Your aging car’s engine has been knocking loud enough that turning up the radio doesn’t help anymore. You take it to your trusted mechanic, who gives you the bad news: One of your main bearings has worn out, and the repair will cost around $3,000.
Since you can’t know for sure if this is just the beginning of your car’s transition into a rolling money pit, or if the $3,000 repair will get you motoring happily along for another 50,000 miles, it can be nigh-impossible to figure out whether to stick it out with Old Faithful or cut your losses and buy a new car.
Thankfully, there are some guideposts that will help you to make this difficult decision. Here’s what you need to consider if you are trying to decide whether to fix up your old car or get a new one.
Consider the age and safety of your ride
If you are still driving a car that emerged from the factory in the early-to-mid 1990s, you might want to factor safety into your decision of whether to repair or replace. Safety standards have grown and changed a great deal in the past 20 years, and upgrading your car to something that was built in this millennium could make a big difference if you were to get into an accident. This is especially true for anyone using an older car as a family vehicle. Newer cars have made it much easier to properly install car seats, for example, which can offer parents a great deal of peace of mind. (See also: 8 Common Car Repair Mistakes That Can Cost You)
Take rust seriously
According to automotive journalist Steven Lang, there is one type of car problem that indicates your automobile is ready for that big garage in the sky: “If the integrity of the car’s frame has been compromised by rust, then you should plan on getting a new car.”
While a little surface rust on a car’s frame is not necessarily a big deal, your mechanic will let you know if the frame has rusted to the point where it has become dangerous to drive….
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