REPAIR OR REPLACE: GUIDELINES TO DECIDE

We often come across situations, when we don’t know, whether we need to get our car repaired or to replace it. Some cars do last for a long time but it’s not the case with every car, so you should stop thinking to get more from your car. But how would you know if you need to give up on it or get it repaired and run it for some more time? We will provide you with some guidelines to make your decision an easier one.

Evaluation of your vehicle

Inspect your vehicle and evaluate its condition so that you can take further steps. You can do this step after making a checklist by yourself or can get a mechanic to perform this step. Evaluating the condition of your vehicle will give you the exact report and you will be able to know the potential of vehicle and its problem.

Determine Future Maintenance Cost

Assemble maintenance schedules as according to the mileage of your car and mileage required in future. Take your car to the mechanic of your trust and pay them to inspect the car as according to the maintenance schedules. The cost of these inspections should be fairly inexpensive, and the information they will provide will be more than worth the expense. Add up all recommended repair costs plus all previous repairs during the year. Divide this number by 12 to determine your average repair cost for the given year. This number will not however include any breakdown or unexpected repairs.

How much is your car worth

After getting every piece of information from both the steps above, you now need to determine the value of your vehicle. Also determine the value of competitive cars that are available around you, this will help you to know the real worth of your car. It is important to know the worth of your car, to make you able to get the best price if you are planning to dispose off your car.

Cost of your next Car

Now that you have determined your yearly repair costs, the value of your current vehicle, and a possible sales price you must calculate the monthly payment of the new car. Paying a larger down payment on the new car will lower the monthly payment. Keep in mind you are replacing a vehicle that you know will be incurring future repair costs, so don't take on more money debt than you can handle. Hopefully you have a month or two before these expected repair bills will be required, so you will have some time to price shop the new car, and have time to sell your current vehicle.

If you can’t purchase a new car due to shortage of funds, don’t worry, just connect with Shriram Automall India Limited (SAMIL). SAMIL provides a wide range of used vehicles and equipment.  You can own the car of your choice easily by accessing SAMIL’s online as well as physical bidding platforms and get the best deals. Finance services from SAMIL in association with Shriram Transport Finance Company (STFC) makes acquiring used vehicle very convenient and safe.