10 Compelling Reasons to Repair and Keep Your Used Vehicle on the Road

It's easy to become distracted from the real value of your older, reliable used vehicle when you're surrounded by advertisements for new vehicles. However, there are several valid reasons why keeping your older, reliable used vehicle can be one of the best decisions you'll ever make. This article explores ten solid arguments supporting the logic of repairing and maintaining your older, used vehicle — both to benefit your bank account and the planet.

1. Cost Benefits

   
   

Repairing and maintaining your older used vehicle can be extremely beneficial to your bank account. New vehicles lose about 20 percent of their initial value as soon as they leave the dealership parking lot. Additionally, a new vehicle loses another 10 percent of its original price within the first year after purchase. On the other hand, because your older, used vehicle has already experienced this depreciation, you receive more for your money. Routine repairs and maintenance will be much cheaper than your monthly loan payments on a new vehicle. For example, a typical used vehicle owner can expect to save approximately $400 per month by not financing a new vehicle.

2. Familiarity and Relaxed Driving Experience

   
   

You've most likely developed a close relationship with your used vehicle. You know how your vehicle drives, its idiosyncrasies, and where it has limitations. The comfort level you develop with your used vehicle provides you with a relaxed driving experience. As opposed to spending months learning the layout of a new vehicle's dashboard or adjusting to the controls, you can enjoy the ride and focus on the destination.

3. Environmental Impact

   
   

Maintaining your used vehicle is also an environmentally friendly choice. Approximately 14 percent of all greenhouse gas emissions worldwide are attributed to the automobile industry. Producing new vehicles requires large amounts of natural resources. Consequently, production and manufacturing create pollution. When you choose to maintain your existing vehicle, you are assisting in reducing waste and lowering your own carbon footprint, and in turn you are helping to protect the environment.

4. Personalization and Customization Opportunities

Your older used vehicle is the perfect platform for personalizing your vehicle as you see fit. With no manufacturer warranties limiting you, you have the flexibility to customize your vehicle to suit your tastes, whether you upgrade the audio equipment or install a set of distinctive wheels. For example, if you choose to invest in a premium audio system (which can cost anywhere between $1,000 to $2,000), your driving experience will improve greatly.

5. Longevity (Reliability)

An older vehicle can be remarkably reliable. Many vehicles produced over the past 10 years were built with longevity in mind. Regular maintenance (oil changes and tune ups) will allow most vehicles to reach over 200,000 miles. Making an investment in your vehicle today, with regard to repairs, can provide you with years of dependability.

6. Lower Insurance Costs

Insurance rates are generally lower for older vehicles. Studies show that you can save at least 15 percent on insurance premiums when you opt to keep an older vehicle. Additionally, should you maintain a clean driving record, you can earn additional discounts on your insurance, further increasing your savings. These savings make it even more fiscally prudent to keep your older vehicle.

7. Reduced Stress of Buying a New Vehicle

Buying a new vehicle can be a long and arduous process. Researching different models, negotiating prices, and completing paperwork can be frustrating. Choosing to repair and keep your older vehicle eliminates the stress of buying a new vehicle, allowing you to focus on what matters – driving.

8. Mechanics Supporting Your Community

The majority of the time when you repair your older vehicle, you are providing business and employment opportunities to local mechanics. This will provide additional support to your local economy and build a relationship with a professional that you trust. Ongoing visits to the same mechanic can lead to a customized approach to servicing your vehicle.

9. Increased Resale Value

If you plan on selling your vehicle, keeping it in good condition will give you a competitive advantage. Vehicles in good condition sell faster and for a greater profit than those that have not been properly maintained. Properly maintaining your vehicle and documenting all service performed can increase your resale value by 20% or more.

10. Emotional Connection

There is often a strong emotional connection to your vehicle. It has accompanied you through road trips, commutes to work, or special events. Repairing your older vehicle ensures that your future road trips, daily commutes, and memories continue.

Conclusion

There are numerous economic, environmental, and emotional advantages to repairing and maintaining your older vehicle. Savings, reduced carbon footprint, increased resale value, reduced stress, and the ability to personalize your vehicle are just a few of the benefits of choosing to repair your older vehicle. Not only do you make a savvy financial decision, you also contribute to the sustainability of your community and the environment. Before deciding to buy a new vehicle, consider the many advantages of continuing to use and repair your trusted vehicle.