Getting rid of an old car is a challenging task for most people, especially those who have established strong connections with their automobiles. Many people who choose to keep their old cars enjoy reduced payments and other perks associated with such models. However, there are times when common sense needs to kick in. It does not make sense to have a car that has a mileage of more than 300,000 and produces unhealthy smoke from its engine. Here are three classic signs that indicate it is time to get a new car.
Rising Cost of Insurance
Insurance companies do not like older cars. The most common reason is for this distaste is that older cars have few safety features when compared to new models. Hence, they are more likely to get involved in accidents. Even if you have a spotless driving record, the insurance premiums will begin to rise as the car gets older. You need to pay close attention to your insurance premiums and determine whether it is cost-effective to keep the car. Consider replacing the car if the insurance premiums surpass the regular maintenance costs. Some insurance companies will notify you about the significant increase. Some companies will even require you to sign a new contract or terminate the current policy.
Repair Costs Exceed the Value of the Car
It is normal to repair cars occasionally. But an increased number of visits to the mechanic can have a significant impact on your budget. A vehicle that stalls on the road and at the traffic lights will waste your time and cost a fortune to repair. Old vehicles usually exhibit the same mechanical problems repeatedly. There are some people who have even parted with more than $2,000 to repair a vehicle that is worth $500. It would be foolish to pay such colossal amounts of money to have the vehicle fixed when you could replace it with a new one.
One of the most effective ways to determine whether the cost of repairing the vehicle is more than its value is to do a tire test. Replace all the tires and ask yourself if the car is worth the cost of the new tires. If the cost is more, you should head out to buy a new car. Even if the car has been a good servant to you for many years, you cannot afford to lose thousands of dollars in repairs just because you don’t want to part ways with it. Talk to dealers near you and ask them if they are willing to take the car in exchange for a few dollars or a new car with a discounted price.
The Car is No Longer Safe
Every car reaches a point where it is no longer safe to operate. According to Indiana car accident lawyers, unsafe cars are some of the common causes of accidents. Unsafe cars are unreliable and prone to breaking down at dangerous times. Such cars can break down on major highways and intersections, causing accidents and traffic jams.
Most old cars do not have the required safety features found in new variants. These features include airbags, electronic stability controls, rear view cameras and blind spot monitors. As a result, old cars are likely to collide with others and even hit pedestrians in blind spots. Due to the safety concerns, people will fear to ride with you in the car. You might also attract the attention of law enforcement officers. If you or any other person in the car has a general feeling of uneasiness every time you are on the road, it is time you consider a new car.
If you are familiar with the signs discussed above, get rid of your car immediately. You can sell the car or trade it in. You can also donate the car to charity or dismantle it for spare parts.