It’s a question that has been debated by millions of drivers for decades: when is the right time to buy a new transmission on your old automobile, and when is the ideal time to purchase a new car? It isn’t an easy question to answer – especially if you are unsure as to whether a new transmission is going to end the repair woes on your automobile once and for all, or if you are going to have to continue spending money just to keep it driving. There are advantages to both sides of the argument, so let’s take a look at them so you can make an informed decision.
A new transmission = down payment
While it may seem as if purchasing a new car is the best approach to being able to drive without any interruptions, know this: while a new transmission is indeed very expensive (costing up to $7,000 in some instances), that’s merely a down payment on a brand-new vehicle. Depending on the type of car you want to purchase, you are going to be spending likely tens of thousands of dollars more than that brand-new transmission. If a new transmission is the only thing that is wrong with your car, make the economical decision and buy a new transmission.
New transmission, no insurance/registration fees
If you opt to buy a new car instead of a new transmission, you will also have to spend a substantial amount of money on insurance and registration fees. These can get very pricey – and in some cases, it may cost the same amount as that new transmission! Plus, you have to stand in line at your local Department of Motor Vehicles, find the proper paperwork, and deal with all of the red tape that comes with registering and insuring a new automobile. To many, that in itself will entice them to buy the new transmission instead!
New car, no future breakdowns (for now)
Alternatively, if you have found that your automobile has been breaking down often, you may be finding yourself in a situation in which buying a new car is ultimately the more economical option. Certainly, a new transmission is one of the most costly repairs for an automobile, but what happens if the rest of your car’s components are falling apart? Next you may have to replace the brakes, obtain new tires, etc. That adds up in cost, so if this describes your situation, consider buying a new vehicle.
New cars are safer
Especially if you have a family, a safe vehicle is of the upmost importance. If your automobile is constantly in the shop, it is likely an older model and thus, there are safer vehicle options out there. If safety is a priority, you might as well buy a new car.
You simply want a new car
Sometimes, you just want a new car! If you are embarrassed about driving your current automobile, no amount of repairs is going to take this feeling away. Cut your losses, trade your automobile in, and trade up to a new automobile!