It’s not an uncommon situation. Your trusty ride is broken down, and you’re awaiting the mechanic’s prognosis. As you go about your day hoping for good news, there’s definitely some worry. While you hope it’s something small and manageable, there’s just no way to know for sure until your mechanic calls.
While some car repair costs are simple and straightforward, others can leave you wondering if this is the last problem or the first of many. If you find yourself doubting your vehicle’s reliability or worrying it’ll leave you stranded, now might be the time to consider your options.
Sometimes, the cost of a vehicle repair is a worthwhile investment, and sometimes it’s better to cut your losses. The infographic below shows some vehicle repairs that can cost as much as or more than a down payment on a new vehicle.
Overall, the decision of whether to repair or replace your current vehicle comes down to reviewing what your car is worth and what the projected repair costs are. There are great reasons to purchase a new or previously owned vehicle, and there are also great reasons to repair and keep your current one. In the end, it’s just important you take the time to weigh your options.