Some Facts you need to consider when you are thinking about trading your car off or fixing it.
- Good Transportation is worth $25 a day, = $625 a month.
- The Average used vehicle now cost over $15,000
- Most used car loans cost you $475 a month for 3 year or more
- 60% of used cars with over 100,000 miles will likely have something costly to repair within the first year of your ownership.
- 85% of people looking to trade off their used car already have a needed repair.
- Your insurance rate will likely rise by as much as 5% more then your current rate.
The fact is, the cost to repair your car will always end up being much less then replacing your vehicle with another used car that you know nothing about! So fixing your current vehicle is a much cheaper and a more reliable way of saving money in the long run.
Still not sure what to do, use this Fix It or Trade it calculator to help you out.