I remember the first time I had to make this decision, on my own: I was 19 and in college, and while everyone else took public transportation and lived in dorms, I was living in a house with five friends and we all had cars we drove into town to work or school.
After taking out loans that were ridiculous for our age, we finally bought our first cars — a Toyota Corolla and a Honda Civic. After a few years of driving these cars, we were in front of two options, to keep the cars after fixing every single damage, or to sell them in order to buy new ones.
Well, this case is not odd for any car owner, you arrive at this exact situation where you have to take a decision regarding the dream car of your youth, to let it go, or keep it.
Although there is no specific criterion where you know the time to sell a car or keep it, there are some indicators that can determine whether to do that or not, depending basically on your financial situation and other few factors.
So, What Is Better? Keeping Your Old Car or Sell It?
If You Want To Keep Your Old Car, Are You Ready for Repairing Cost?
When it comes to repairing or selling an old car, most people make their decision depending on the money, and this decision may seem simple enough, but the reality of the situation can be different for each individual.
A few factors that can influence an individual’s decision are maintenance costs related to the current vehicle, how much time he or she spends driving this particular car, and how long they plan on owning this car before selling them off.
Depending on the pre-mentioned factors and many others, you can decide whether to repair your car or not, calculate what will save you the most money, what is hassle-free, and then do what you feel is best for you.
If You Want To Sell Your Car, Do You Have Enough Money To Pay for a New One?
Many people have a lot of questions concerning the subject of selling their current car and buying a new one, and one of those questions is “is it easy to sell my car in Dubai?” and “do I have enough to pay for a new car?”
The price range for a new car can vary wildly, but you don’t need to buy a brand-new one to get something expensive, you can always go for purchasing a used vehicle, and the idea behind getting a used car is practical because buying new means spending so much money you’d probably never get back from them.
First, you need to consider whether or not it’s worth it for you, and then determine just how much money you’re willing to commit.
It comes down to your personal preferences and circumstances as well as how much that specific type of vehicle will cost.
However, if you fixed your old car properly and sold it for a fair price, it could provide the investor with a good return.
Whether or not this is an issue that concerns you will depend on financial stability and what type of vehicle suits your needs best.
So, What Should I Do, Sell or Keep?
If you are considering selling your car, the three most common reasons are because it is not working, it is too expensive to fix, or you don’t have enough space.
The choice of selling your car is reasonable when your car is still operating and running properly, and buyers will absolutely check the car’s condition and ask for the car’s history before making their mind, so you can not run from making some repairs before selling the car.
Finally, there is another option in your hands which is to sell and buy your car every two years or so.
You might think that selling a car after a short time is going to gain you a very good sum of money because you maintained the value of your car and therefore it will be considered relatively new, and all you need to do next is to pay some extra money to get a new one.
On the other hand, some people are not ready to make such a commitment every two years, (which is paying money to buy a new car) so they choose to keep the vehicle for a longer time and save their pockets from paying the extra money, but owning the car for many years just makes it cheaper if you want to sell it in the future.
Not to mention that maintaining a car over and over again in order to keep it running can be really tiring, frustrating, and money-consuming too, so you are going to end up not saving as much money as you think you are by not selling the car.
So, you can see how keeping an old car is not going to save you money as much as you think because you are always will need to repair it and fix it to keep it running smoothly, and I think that selling the car before major damage occurs is the smartest thing you can do.