You purchased a new or almost new vehicle 10 or so years ago. It’s been paid off for a while now. Being without payments is great. Just a few fix-it issues to take care of, no biggie. But there is that feeling of a possible break down leaving you stranded and a huge repair bill.
With car prices and interest being so high, is it really time to change vehicles?

 Reasons to keep your paid-off car:

• Financial benefit: You save money on car payments and potentially avoid a car loan with interest.
• Reliability: If your car is reliable and well-maintained, it might be cheaper to keep it than buy a new one that could have unexpected repair costs.
• Sentimentality: You might be attached to your car for sentimental reasons.

Reasons to sell your car:

• Cost of ownership: Repairs, maintenance, and insurance can add up, especially for older cars.
• Needs change: Your car might not fit your lifestyle anymore. For instance, if your family has grown, you might need a bigger car.
• Fuel efficiency: Newer cars tend to be more fuel-efficient, which can save you money on gas in the long run.

Some additional things to consider:

• Age and mileage of your car: Generally, newer cars with lower mileage will have a higher resale value and potentially lower repair costs. You can check online resources to estimate your car's value.
• Your budget: Can you comfortably afford the ongoing costs of car ownership, or would the money saved from not having a car payment be better directed elsewhere in your budget?

Ultimately, the decision depends on your individual circumstances. Weigh the financial pros and cons, consider your needs, and make the choice that best suits you.

*Visit our web site for replacement parts to get your vehicle back up to snuff - I know I'm keeping my vehicle :)
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