Is Your Car Worth Fixing, or Should You Just Sell it ?

If selling or renovating is a question that many homeowners ask themselves, the same can be applied to those who own an older car, SUV or pickup truck. Is it better to sell or to repair?

Car Guide journalist Antoine Joubert and CAA-Quebec automotive expert Jesse Caron agree that the first step towards answering this question is a professional inspection. This step will cost you a hundred dollars, but the report that will come out of it will help you make an informed decision, because you will know what to expect in the near future in terms of maintenance and repairs.

After this, it's always good to evaluate the actual market value of your vehicle. You can do this by using different tools like Canadian Black Book and Carfax, but also browsing through specialized online classifieds like Otogo and looking at models in similar condition as yours. Don't forget that, in the current context, used vehicles have increased in value considerably, which is a big game-changer. On the other hand, if you sell your car, what price will you pay for the next one? Rebates are rare and interest rates are higher than before. Maybe you'll avoid work on the vehicle, but that doesn't necessarily mean you'll come out on top!

According to CAA-Quebec, you should consider repairing your car if…

• It has never been seriously damaged and has always been reliable.
• It has been well maintained and the engine, transmission, structure, suspension and brakes are still in good condition.
• The odometer shows less than 200,000 kilometres (modern vehicles have a useful life of around 300,000 kilometres, sometimes more)
• It is paid and you want to avoid taking on monthly payments.

On the other hand, you should consider selling your car if...

• The body is falling apart and/or rust has started affecting major components of its structure.
• Major repairs are imminent, such as an engine or transmission swap.
• You often travel very far from your home.
• The peace of mind that comes with a brand new car offers is important to you, or you want to take advantage of new technologies such as automatic emergency braking.

"A good compromise would be to repair the most critical elements, then decide if it's time to sell, says Jesse Caron. But either way, if the obvious signs of fatigue are present, it's probably time to move on."