At some point an old car stops being dependable and starts being a waste of money due to the fact that they require more money to fix than a down payment on a new car would cost. Once you start paying money on a monthly or bi-monthly basis for repairs and maintenance you should start thinking about actually getting a new car and just trashing the old one. After all, why continue to throw your money away when you could be using the money to invest in a new vehicle? Simply add up the amount that you have spent in repairs over the last year and if the amount astounds you then it is probably time to go with a new car.
Of course, before you actually head to the lot to purchase a new vehicle you will want to think about trading in your old vehicle or if it is no longer drivable, at least taking some time to find out it’s junk value. Many people are surprised to learn that when they type in something as simple as My Junk car Value they can actually get real estimates on how much their vehicle is worth. Of course, you want to make sure that you choose a reputable website when it comes to looking for a quote, because you want a fair valuation to make sure that you approach the sale the correct way.
Many people write off junk cars because they are not drivable and neglect to even take a look at the Kelley Blue Book value. The truth is that if there are only a few repairs that need done you can knock some off the price tag and still make a profit on the car as-is. Some of the online quote sites can be very helpful with this since you can see the fair value of what a car is worth without the repairs and then judge appropriately.
In these cases, you will usually do better with a private buyer over a dealer since the dealer will attempt to convince you that the car is just a junk car that should be written off. They also could offer you a better trade-in for the junk car, but then offer you a much lower discount on a new car in order to make up for the difference so you end up coming out behind anyways.
Guest blogger Alan
