Your car is sick, but you aren’t sure just how sick it is. Is it salvageable? If so, would it be worth it? If the answer is no to either question, then it’s time to start researching junk yards in your area and see how much you can get for it. However, it’s sometimes not that easy to determine, and your car is instead in that state of limbo where you’re not sure if you should bother keeping it going or just moving on. Fortunately, these steps will help you decide.
How much is your car really costing?
When calculating car costs, it’s easy to only consider things like the amount of gas that you use in an average month, any tolls that you pay, the cost of auto insurance and regular maintenance such as oil changes, oil and air filter changes and tune-ups. However, many neglect to include things like sporadic trips to get major things fixed such as a brake line or transmission.
Add up every cost that your car has incurred over the past 12 months, including the one that you’re considering, and average them up. Estimate for anything that you don’t have records for or are otherwise unsure about. Also consider what the next 12 months will look like financially. Changes could include a longer or shorter commute, expensive repairs that will likely be necessary in the near future or changes in your insurance policy.
How much would junking it be worth?
Do some research on your car, discovering how much it may be worth to a junk yard. Make sure to include the worth of its parts as well as how well it runs as both of those things can increase its value quite a bit as opposed to simply selling it for how much it’s worth as scrap metal.
How does this income plus however much you would need to spend to purchase a replacement vehicle compare with getting your current one fixed and the expected future costs for it?
Other things to consider
Depending on the newness of a replacement car, upkeep costs will likely be lower.
If you have done a major repair recently, then it will most likely not need to be done anytime soon.
If you’ve had your car for a while but haven’t needed to repair the transmission or engine, one or the other may need fixed or replaced within the next year. Do the research and see if this will be likely.
If a new vehicle is a step up from your previous one, your insurance policy may cost more as a result.
Do you see rust on the outside? If so, it may also exist in pivotal parts of your car. If not, look for it. Decaying parts are obvious red flags that your car may either need costly repairs or should simply be junked instead.
How safe is your car? Does it have air bags? Are the brakes making noises? Do the seatbelts work? Consider the quality of these as another quasi-insurance policy as your life could depend on them.
Do you live in a community with a quality public transportation system? If so, you might want to consider bringing your car to a junk yard and then taking trains or buses instead. This will most likely be a realistic option if you live in or near the center of a major city. Also consider that utilizing a car-sharing company such as Zipcar could take care of the rest of your transportation needs.
Bottom line, consider how much making this fix will impact the cost of this particular car over the next year and beyond. Will it be worth it, or would it make more sense to turn down the fix and replace your car or even go carless entirely if your situation would allow that? Hopefully, these points have helped you make that decision.
If you decide to sell your junk car, make sure you sell to a trustworthy online junk car buyer, like [namebrand]. They will offer your a top dollar quote, and tow all over the country, including Louisiana.