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7 Signs it is Time to Trade-in for a Brand New Car

According to Consumer Reports, cars are lasting longer than ever before, with the average vehicle lasting over 11 years. Of course, there will always be cars that die early and cars that last far longer than ever expected. If you're on the fence about whether or not it's time to trade in your car for a new one, here are some points to consider.

1. Your vehicle is an unrestored classic

If you're driving around in a 1987 Tercel with Bondo all over the panels and a rag for a gas cap, it's time to either restore it or trade it in. Continuing to drive a classic car that hasn't been properly restored only decreases its value and can be unsafe.

2. The transmission is starting to slip

The cost of a new transmission can be outrageous, and your car will lose the majority of its value once the transmission stops working entirely. This is especially true if you drive an automatic.

3. You're experiencing ongoing and expensive engine problems

Engine trouble can leave you stranded over and over again, and the cost of the repairs can eat far more money than you may expect. If your car needs a new engine, weigh the cost against that of purchasing a new vehicle.

4. You're paying off your mechanic to pass your car's inspection

If your car can't pass inspection, emissions or both, it's time to get rid of it. Paying off your mechanic for tags or stickers is illegal and can land you in some hot water if the bribe is discovered.

5. The safety features are ancient or nonexistent

You may have anti-lock brakes and front passenger airbags, but technology has made some amazing strides since your old car rolled off the assembly line. Side curtain airbags, collision detection and other safety features are important, especially if you drive around with kids in the car.

6. Your car is being eaten alive by corrosion

In areas with wet weather or hard winters, corrosion is a fact of life. If you don't want to pay to have the parts replaced and the new parts sprayed against future corrosion, it will likely be cheaper to just buy a new car at a local dealership such as Chuck Colvin Ford Nissan.

7. Your family needs have changed drastically

If you're still bombing around in your Chevy Suburban long after your four kids have gone off to college, you're wasting money. Similarly, continuing to wedge two teenagers and an infant car seat in the back of a Geo Metro can be unsafe and uncomfortable. If your car no longer suits your needs, it's time to trade in.

Deciding when to trade in your vehicle and get a new car is a big step. Keeping these points in mind will help you make the right decision for yourself and your family.

Article written by Lizzie Weakley

Written on Monday, October 19, 2015 by
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