How to Stop Wasting Money on Your Vehicle

Wait, what? I’m wasting money on my vehicle? You bet you are! But many of us aren’t even aware that we are pointlessly spending money on something that truly isn’t worth it.

When you’ve got a commuter car that saves on gas, but constantly needs repairs, you really aren’t saving anything at all.

Or when you’ve got a car that “is in really great shape, aside from it needing a new transmission”, it’s not really in good shape.

So, is it really worth it to do such a major repair on an older vehicle? Or perhaps one that isn’t old, but has high kilometers? Well, this blog is here to help answer those questions, along with many others. If you want to stop emptying your pockets during times of massive inflation, continue reading…

Am I Spending Too Much Money on My Car?

When you’ve owned a vehicle for a long time, it can be hard to let go. Even when it’s costing more money that it’s worth, many of us hang on for far too long. But why?

Is it because we like wasting money on a lost cause? Or maybe it’s because we have so many memories associated with our vehicle? Or perhaps it’s just because we don’t honestly know when we should pull the plug on a dying car. All in all, we’ve all been guilty of putting way too much money into our vehicles just to keep them running.

When is the Right Time to Sell My Car?

There comes a point when you need to stop dumping every penny you have into your car. However, it can be hard to know when exactly you should sell it. So, how do you know when it’s the right time? There are a few different ways to know when to give up the goose.

1.Frequent Mechanic Trips

Vehicles, in a way, are like humans; they need regular check-ups to stay healthy. However, if you spend more money on repairs than maintenance, it could be time to sell. If you find that your car is getting repaired more than it’s getting maintained, it could be a sign that it’s ending its life cycle. Its normal to have the odd repair needed as vehicles age, but too many repairs can mean that the whole vehicle is on its way out.

The next time your car is in the shop, you should ask your mechanic to perform a full check on your car.

This will give you a good indication of what potential repairs are up next, and whether or not you should invest more money into it.

Alternatively, BCAA offers a 100-point inspection on used vehicles for consumers as well. It’s relatively inexpensive, and they’ll provide you with a list of ‘Coming Attractions”. This way, you’ll know what could be on it’s way out next.

2.The Cost of Repairs is More Than the Value of Your Car

It’s never enjoyable to get hit with a massive repair bill at the mechanics. However, sometimes we are spending much more than we should. If you’ve got an older vehicle, especially one with other issues, spending a fortune on a major repair could be a waste of your money.

For example, if you have a 1994 Dodge Neon that needs a new transmission, it would be a better idea to sell it to a scrap car removal company like us, instead of fixing it. Why? Because the cost of a new tranny is thousands of dollars, and the vehicle itself isn’t worth that much.

Also, if you’ve got a different major repair like a blown head gasket, or need a timing belt replacement after the valves have been bent, you also need to consider your vehicle’s worth. Often times, people think it’s cheaper to repair a vehicle than replace it, but that’s a common misconception. There are many decent used vehicles out there for less than the cost of replacing a transmission or engine.

3.Your Vehicle No Longer Covers Your Needs

We’ve already touched base on the fact that many people think buying a new vehicle is more expensive than repairing it. However, sometimes there is nothing mechanically wrong with our car, but it simply isn’t covering our needs.

Perhaps when you first bought your vehicle, it was with the intent that you’d be using it primarily for commuting. However, now you’ve got a family and it just isn’t covering all the bases. Now you need something with more seating, bigger cargo space, and is still good on gas mileage.

So, you’d switch to a minivan or SUV, right? Many people try to hold out as long as possible before making the switch. They think that if they don’t have to fork out money right away, they’re saving it.

Aren’t I Saving Money By Not Buying a New Car Though?

Although in some respects this is true, it’s not the case with used cars. The longer you drive a used vehicle, the more kilometers and wear and tear you put on it. This, in turn, decreases its value. Which means you’ll have less of a trade-in value towards a newer, more practical vehicle. If you aren’t getting what you need out of your car, especially if it’s starting to age, you should sell your vehicle to More Cash For Scrap.

4.Fixing Cosmetic Damaged Yourself

If you’ve got dings and dents all over the place, you may need to consider selling your car. Depending on the severity of the damage in the paint job, the cost to refinish and repaint could be more than your car is worth. Plus, leaving blemishes all over your car promote rusting and paint chipping, which makes selling your car later even harder.

We’ve all been guilty at one point or another of using things like nail polish and house paint to “touch up” any little dings and knicks. Although it looks okay for a short while, it too will become unsightly as it is exposed to the weather. Not only that, nail polish has a tendency to chip worse than paint itself. Unfortunately, this will make it look worse in the long run.

Additionally, it’s not going to prevent rust from forming either, and rust equals more money lost in vehicle value. Most paint shops will be happy to provide you with a free estimate on a new paint job. If they quote you a number that’s larger than your car’s value, it’s time to sell or scrap your car.

5.Your Car is Sitting in Your Driveway, Year After Year

If you’ve got an older vehicle that’s just been taking up valuable space in your driveway, you’ll want to think about selling your car. More often than not, people lose much more value by sitting on an old vehicle, instead of selling it. The longer a vehicle sits (especially outside) the more it depreciates.

Things like weather, rodents, pets, and everything in between can affect your vehicle’s worth. Even the potential for vandalization is increased the longer it sits. When riff raff see a vehicle parked for a long time, they assume it’s not being used. This invites them to use it for a place to sleep, or something to simply vandalize.

What If I’m Still Not Sure if I Should Sell My Car?

If you’re still on the fence about selling your car, talk to one of our dedicated and helpful team members today. We are always here to help, even if it’s just for some free advice on selling your vehicle. We are the experts when it comes to scrapping cars, but we also buy older vehicles. That means we know whether or not you should sell or scrap your car for cash. Even if you don’t become one of our customers, we are always happy to offer free information. That way, you can make a more informed decision about what your next steps should be.

How Can I Sell My Car for Cash If It Has Mechanical Issues?

Owning a vehicle with mechanical issues is never a great experience. The good news is, we happily buy vehicles with mechanical issues! It doesn’t matter if the problems are big or small, are electrical or mechanical, or if its issues are stopping your car from running altogether. If its a vehicle, we’ll buy it. And we’ll pay MORE cash for it than any other scrap car buyer in the Lower Mainland.

All we need are a few basic details about the car you’re selling. Let our team members know the make, model, year, condition, and kilometres. Then, provide us with the location for pick-up. We’ll make you and INSTANT cash offer right then and there!

If you accept our offer, we’ll arrange a day and time (it can often be the same day) to have our free towing service pick up your vehicle. Our tow truck driver will load up your car, then pay you cash in hand before leaving. Scrap car removal really can be this quick and easy! Just choose the junk car removal services of More Cash For Scrap!