Ah, the age-old question … Is maintaining your car a smart financial decision or are you better off buying a new car or a new-to you used vehicle? Truthfully, the right answer depends on your specific situation. While only YOU can ultimately make that choice, we’d like to highlight some important factors that could affect your decision.

Maintaining Your Car vs. Buying a New Car

Purchasing a brand new vehicle with all the bells and whistles can certainly be tempting. There are certainly some useful features on today’s modern vehicles, not to mention some that are downright luxurious. There’s the shiny new paint, leather seats, and very little worry about auto repairs in the near future. However, all of this comes with a price tag and in today’s market, that price tag is higher than you might think.

Thanks to the COVID-19 pandemic, manufacturer shutdowns, chip shortages, inflation, and a variety of other factors, new cars are fetching record high prices these days. And, with pent-up demand for new cars that simply weren’t available during the pandemic, you may not even be able to get the exact make, model, and features you want if you are looking for a new car.

With this information in mind, it’s important to weigh the pros and cons of buying a new vehicle right now. If your budget can reasonably afford a new car payment, you don’t mind paying higher than sticker price, or you have enough cash to fund the entire purchase, go ahead and spring for a new car.

If your budget is a little more restricted, however, take a close look at the vehicle you’re currently driving. Even if it needs a few repairs or some maintenance services, it could actually be cheaper than buying new. At the very least, maintaining your car instead of buying new could get you by until new car prices even out a little.

Maintaining Your Car vs. Buying a Used Vehicle

Maybe you want something different but you’re not quite ready to pay the high price of a new car. Unfortunately, you might be surprised at the cost of used vehicles these days, too. According to the Bureau of Labor Statistics, used cars are now being sold for 53% more than they were at the start of the COVID-19 pandemic. That’s huge!

What’s driving up the price of used cars? It’s simple – demand. With new cars hard to come by during the pandemic, used cars became more popular … and more expensive. Now, you can still buy a used car but you’re likely to spend more and get less for your dollar than before the pandemic.

So … back to the question of maintaining your car or buying a used one to replace it. With used car prices hitting all-time highs, take a close look at the vehicle you already own. Would some simple auto repairs improve or maintain driving safety? Would preventative maintenance keep it running smoothly and improve overall performance? Chances are, maintaining your car properly can save you some significant money right now. And, if you decide to sell it in the future, a well-maintained used car will fetch a higher price. That’s a win-win!

Affordable Auto Repairs and Maintenance in Tempe, AZ

The decision of buying a new vehicle or maintaining your car for a little while longer is completely up to you. Either way, we’re here to help you get the most out of your investment.

At our Tempe auto repair shop, we offer a variety of auto repair and maintenance services provided by professional, ASE-certified automotive technicians. At every visit, we promise to give you the information you need in order to make wise decisions about your vehicle’s care. In fact, we live by the motto ‘We advise but YOU decide.’

Are you ready to keep your vehicle running smoothly and performing at its best? Simply schedule an appointment for service today and we’ll help you do exactly that!