To sell or not to sell, that is the question. Owners of old autos are often confronted with one common question: Is my car worth the fixing, or is it better off sold? Here’s a brief guide to help you decide. Find out when is a junk car worth fixing and worth selling.
Why Do People Keep Their Old Autos?
People hold onto their old cars for various reasons. Among the most common causes include:
#1 They cannot afford a new one
Most car owners keep their old autos only for one reason: they cannot replace them with newer ones. To date, the average new car scores over $47,000 in the market. With such a staggering value, it’s no surprise that many car owners choose to keep their old autos and endure the constant overheating and engine troubles.
#2 Their cars only have minor problems
Some people have the funds to purchase a new car, but they still choose not to. The question centers on practicality, not capability. Owners that are only troubled by minor car issues such as paint wear and rust formation choose to endure these problems and settle for some quick repairs instead of purchasing a new auto.
#3 For memories’ sake
Money isn’t the only thing that keeps owners from junking their old cars. Some people also like to keep their autos for sentimental reasons. After all, driving isn’t just a simple chore; it’s also an experience. Going on trips and sharing roadside scenery with other people constitute good memories. For some, letting go of their cars means letting go of those precious times, too.
#4 As collateral for a loan
Cars are high-value properties. You cannot just snatch them without a reasonable sum of money at hand. Consequently, they can help you in times of financial trouble. Old and new cars alike can be used as collateral for a loan. Many car owners choose to hold onto their old autos to use them as loan security in times of financial emergency.
Should I Fix My Car or Sell It?
While some are willing to keep their old autos, others are quick to sell them. If you’re still stumped on what to choose, here are a few questions to ask yourself to come up with the right decision.
How much do you spend on maintenance and repair?
One common misconception among car owners is that keeping an old auto is a good way to save cash. Yet, this is not always the case. Just think about the regular repairs needed to keep your car running.
How much do you pay for an oil & filter replacement? How often do you need to replace your car’s battery? Are your brakes working just fine? Is that $1500 oil leak getting worse? Try to list all the maintenance and repair works necessary to keep your car running. Add them to your fuel costs, licensing fees, and other necessary expenses. Once you’ve done the math, search up your car’s current value online. Which one is higher? If maintenance and repair-related expenses score better than your car’s current market price, then it’s wiser to bid your old auto goodbye.
Is your car safe to drive?
Your safety should be your top priority. Submit your car for an inspection to see what issues it has. An expert mechanic can inspect and identify which problems are fixable and which are not. There are also many tell-tale signs that your car is already unsafe to use. Among these common warning signs:
- The smell of fuel or burning oilwhile driving.
- Squeaks or rattles in your brakes.
- Unexplained noises in your car when being used.
- Steam and smoke from your exhaust.
- Difficulty getting the car started.
- Puddles of oils and fluids wherever you park.
Although keeping your old car may allow you to save up some cash in the meantime, a future breakdowncan break your bank account in an instant.
Where Can I Sell My Car?
If your old car isn’t worth the fixing, you can sell it to any of the following:
If it’s still functioning well and only has minor issues: Car dealer or private buyer
You can sell a functioning car to either a car dealer or a private buyer. If you want to boost your car’s possible value, you may submit it to a professional technician or mechanic to make some quick minor improvements. Giving your old car a new paint or replacing some of its old parts may help you score higher prices in the market. Just make sure that the repair expenses will not cost you more than what you can receive from the sale.
If it has major technical problems: Car junk buyers
You may still sell your car even if it has major technical issues or is already inoperable. Many local and national junk buyers are willing to pay more for that chunk of metal sitting on your lawn. Try to get at least three quotes from the nearest junk buyers in your area and choose the one that offers the best deal.
Why you should sell your car to Sell Us Your Car
Think your old ‘auto buddy’ isn’t worth fixing anymore? You can sell it to us here at Sell Us Your Car AZ. We take pride in our over 15 years of experience in the car buying industry. The whole process is pretty simple. Simply give us details about your car, schedule your pick-up or drop-off time, and get instant cash!