Auto Repair Shops Thrive As Owners Keep Used Cars Longer
2nd April 2009
Auto Repair Shops Thrive As Owners Keep Used Cars Longer
The global recession continues and as a result, millions of people are tightening their purse strings. One of the most noticeable recent trends is that more drivers are willing to keep their used vehicles longer. Auto parts stores and repair garages have reported a sharp increase in business over the past several months.
In this article, we’ll explore the reasons why motorists are driving their used cars longer. I’ll explain the costs of purchasing a new vehicle as well as how reliable auto parts can help you squeeze more mileage from your car.
The Cost Of Buying A New Vehicle
Most of us would like to think that our decisions at the dealership lot are based upon objective reasoning. That is, we “need” a new truck or SUV. We “need” the top-of-the-line GPS unit and stereo system. And saying no to the $500 alloy wheels would be ridiculous. By the time we drive off the lot, we saddled with hefty monthly payments that we’ll be servicing for the next several years.
Buying a new vehicle is expensive. While you may not need to visit the repair shop (hopefully), the cost of registration, taxes, and insurance are significant. Plus, the interest on your auto loan can add up to thousands of extra dollars.
This is the main reason people are holding onto their older models longer. It may cost a few hundred dollars to replace a water pump, alternator, or radiator fan, but it’s a small investment compared to purchasing a new model.
Longer Use Through High-Quality Auto Parts
Automotive parts are designed to last much longer today than they did years ago. While a car that was built in the 1980s might be expected to last 10 years, vehicles that are built today may last several additional years.
Of course, parts fail due to excess wear and tear. You may need to replace your transmission or engine at some point, especially if you drive a substantial number of miles each year. But, the replacement parts can last over a decade, reducing your annual cost of repairs and maintenance below the cost of servicing an expensive auto loan.
More Mileage For Your Money
Owning a new car can be invigorating. But, it can deliver a swift blow to your monthly budget. What’s more, your new vehicle will lose nearly half its value during its first three years. If your current car is less than ten years old, consider keeping it rather than purchasing a new model.
By investing in high-quality auto parts, you can squeeze more mileage without assuming a costly monthly payment. And with a little regular maintenance, you can enjoy reliable transportation without taking a devastating hit to your pocketbook.
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