Fix your old car or buy a new one? We can help you decide

According to a new study, the average new vehicle now goes for $32,086, which works out to a typical monthly payment of $633 over four years. That’s a jump of more than $1,000 in the past year—and it that’s before you factor in insurance, gas and maintenance!

Even if you buy an inexpensive car and have a great interest rate, you’ll be paying thousands of dollars a year in car payments for four to six years. In comparison, even a major auto repair, such as replacing or rebuilding your engine, often costs less than one year’s worth of payments on a new car.

Another issue to take into consideration is insurance, which is often less on an older car than on a new model.

We urge you to check out these resources for more details on the true cost of buying a new car:

• Edmunds: Edmund’s True Cost to Own tool helps you calculate the cost of the car loan plus depreciation, loan interest, taxes and fees, repairs, insurance and more. Start your research here!
• Consumer Reports: What that car really costs to own
• Kiplinger: Should you keep your old car?
• Edmunds: When to repair your car and when to buy a new one
• Money Crashers: Keep driving an old car or buy new – what’s better?
• Lifehacker: Should I repair or just replace my old car?

At CARS of America, we pledge to give you the best auto repair advice for you and your needs – accurate, unbiased and without regard for “the sale.” We’ll take the time to thoroughly inspect your vehicle every time you visit our shop at no charge to you. We’ll help you prioritize necessary repairs so you have a clear picture of what needs done and when. And if you like, we can help talk you through the decision to repair an older car or to buy a new one.

If and when the time comes for major repairs, we offer the Car Care One card through GE Capital to help spread out the cost. With the Car Care One card, you can receive:

• 0% financing for 6 months on any repair of $299 or more.
• 0% financing for 12 months on any repair of $750 or more.

Whether you decide to stick with your current car or invest in a new one, we’re here to help make owning a vehicle easy!

Brian Blohm is the Service Manager and Managing Partner - Operations CARS of America in Glenview. He is an ASE-Certified Automotive Service Technician and ASE-Certified Service Advisor with more than 25 years of automotive experience. A graduate of Triton College with an associate's degree in Automotive Technology, he has continued his training and education with the Automotive Training Institute and RL O'Connor. You can reach Brian via email at brianb@carsofamericainc.com or by phone at (847) 961-4363.