Does it make more sense in the long term to repair a car with issues or buy a new one?
Answers | 5
It really depends on the problem. I'm not into going in debt just for a new car.
When it costs more to fix the problem than to buy something else... and even then, I wouldn't buy a brand new car.
I think the "issues" will determine the answer. If it is something repairable and done without breaking the bank than it may be worth it. How ever if it is multiple issues that could or will just lead to a money pit than seems replacing it would make more sense.
I think it really depends how much money you have to buy a new car and how often you want to spend time and money repairing a used car. If you are mechanically inclined and enjoy repairing cars, go for a used one, but if you are not and need dependability, a reasonably priced new car may be the way to go.
If the issues are relatively minor, such as replacing things that are inexpensive fixes and not issues that steadily get worse, such as hidden oil leaks, then it's worth the cost of repairing, especially if the mileage is not incredibly high. Once a vehicle gets a few years on it and has racked up over 150,000 miles, then issues begin creeping up regularly. That's when I'd start looking for another vehicle - preferably a slightly used one.