When to Keep an Old Car vs Buying a New One

Picture this: You're driving down the road and all of a sudden your vehicle starts making a weird noise... and it seems to be getting louder with every mile you drive. Then, your check engine light comes on. Oh no, not again. You've been driving this car for years now and it's been nothing but trouble the last few months. After you make a service appointment, you wonder whether you should keep this old car or buy a new one. It's a tough decision to make, especially if this is the first car you've owned. It can be hard to say good-bye to a vehicle that you've had years of adventures with, but with every farewell comes a fresh start. Before you rush into anything, let's look at the pros and cons of keeping an old car vs buying a new one.

In recent years there has been a record number of cars being sold and that's partially because buying a new car is now easier than ever. Instead of keeping up with expensive repairs on your current vehicle, you could be making monthly payments toward a vehicle that you actually want to be driving. You don't even have to get the newest or the best models to get an upgraded vehicle. There are so many options available from pre-owned to brand new, you will be able to find something that matches your needs and your budget.

Value Your Trade

Keep Old Car vs Buy New Car
Repair Costs Expenses Monthly Payments
Older models have less safety features Safety New models have more advanced safety features
Cassette/CD Player Technology Bluetooth/SiriusXM Satellite Radio
Low  Fuel Efficiency High

New vs Late Car Features

  • Safety
    The vehicle you have now might not just have expensive frequent repairs, it might also have outdated car features. Older car models don't have the safety innovations that now exist. For example many older models might just have seat belts and airbags to offer, but technology has advanced since then. Now Toyota vehicles in particular come with a long list of safety features, including the Toyota Star Safety System that includes Traction Control, Anti-lock Brake System, Brake Assist, Electronic Brake-force Distribution, Smart Stop Technology and Vehicle Stability Control. Many Toyota vehicles even come standard with back up cameras, lane departure warning and more.

  • Technology
    Newer models also have more advanced technology features, instead of a just AM/FM radio, a cassette player or a CD player, you will get a Bluetooth capabilities and some vehicles even have the option of SiriusFM. Many vehicles also have available navigation systems so you don't have to worry about getting lost or fumbling with maps while your attention should be on the road ahead.

  • Comfort
    Newer models also have the added advantage of being more comfortable both of drivers and passengers. Your current vehicle might even have stuffing showing from the seats, which can be both unappealing and uncomfortable. Just imagine how comfortable you will be with a new model with supportive, stain-resistant seats like the available SofTex seats available on select Toyota models.

Should you buy a new car?

Before you pay for another repair on your current vehicle, consider buying a new vehicle from Toyota Palo Alto. Your monthly payment could be the same or even more affordable than the frequent repairs on your older model. It might be a hard decision to make, but consider what will be smarter financially in the long run.

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