A major collision can cause quite a bit of calamity in your life and even financial stress, but with a good plan of action, you can bounce back and be on your feet in no time. One of the biggest decisions you’ll have to make is what to do about your wheels. Hopefully, you’ll get a nice insurance check to help with the bills, but either way, you’ll have to choose between repairing your car or getting a new one. While the perks of a new car are pretty appealing, there are some very strong reasons you should consider the repair route.
Insurance is a pain in the butt and will impact the steps you take in a number of ways. The most obvious is the payout. Even in cases where a repair is not possible, it’s very unlikely that you’d receive enough money to cover the cost of a new vehicle that was comparable to the one you lost. In cases where it is possible to repair, it’s even less likely that your return will be enough to pay off a new car.
On the other hand, the cost of repairs are universally much less depending on the age of your vehicle. The insurance check will cover a much larger percentage, and you won’t have to take a hit by putting money down on an inferior vehicle or put your credit on the line for substantial financing. On top of that, your repaired car will cost less than the premiums on a new vehicle. In the end, you’ll pay less money out of your own pocket with this route. Just be sure to get price quotes and make the best decision for your situation.
2. Higher Return Value
New cars depreciate at an extreme rate, especially at the time they go from new to used. When it comes to a used vehicle, the rate of depreciation is much slower. What does that mean to you? Regardless of how much of the expenses come from your own pocket, the money you invest into repairs will hold value much longer than anything invested into new car. This makes repair a more efficient use of your money.
3. No Car Lasts Forever
This sounds like the perfect reason to get a new one right? Well, you already know that you’ll need a new car at some point. If a collision has knocked your vehicle out of commission, then there are likely some other expenses as well: medical bills, missing work and other issues that might create unexpected financial difficulties. As frustrating as it might feel, saving some money by opting for repairs can help you plan for a new car down the road that causes less strain on your current budget.
4. You Can Stick With What You Know
It would be great if you could always count on a new car to work flawlessly. Regardless of whether you’re buying new or pre-owned, it’s difficult to say with certainty that the dealership you’re working with is reputable. Any purchase of this scale is always a risk. Instead, you can stick with the car you already know while relying on the warranties that will come from the new parts and repairs.
This is the biggest one right here. That car has been with you for a while now, and you’ve even faced a collision together. You don’t have to abandon it before its time. Instead, you can have the car you love completely restored, working as well as it ever has. Treat your baby right, get it fixed and enjoy the time you get together.
Choosing a Company for Your Major Collision Repair
When you look to get your vehicle restored, make sure to think carefully about who will do the repair. Select a shop that can handle every aspect of the job, and if they specialize in major collision repairs, then that’s even better. Get your vehicle back in shape so you can get back to your life. At New Look Collision, we’re proud to help people get back on the road, so contact us today to find out about our services.