Engine Service: An Engine Rebuild or Not?
Deciding to keep a vehicle and take care of a needed engine service is a hard decision unless money is no object. If you are like most drivers, a new car or truck in the garage would be great, instead of putting out hundreds of dollars on an engine rebuild. But, purchasing a vehicle is a huge financial commitment in today's economy.
So, before deciding whether to go ahead and buy that beautiful new car or truck, or go for that engine rebuild, take a few minutes to answer these questions:
- What can your budget handle? If you purchase a new vehicle, will it compromise your living expenses, savings, or retirement accounts? If a monthly payment or cash purchase of a new vehicle restricts your budget or decreases your savings drastically, an engine rebuild would be a wiser investment instead.
- What is the value of your current vehicle compared to repair costs? As the years go by, maintaining an older vehicle gets relatively more expensive. Repairs costs will continue to increase while the value of your vehicle decreases. Keep in mind that generally, if an engine service or a complete engine rebuild costs more than 30% the value of your vehicle, consider buying a newer vehicle if your budget can handle it.
- Any big expenses coming up in the near future? If you will be sending kids to college soon, or you own your home and need a new roof, take these large expenses into consideration before purchasing a new vehicle. Don't drain your financial nest egg.
- What is the expected lifespan of your current vehicle? Do you love your car or truck and just don't want to get rid of it? Also, before making a decision, consider how many miles you drive a year, the major repairs that have already been done on your vehicle, pending repairs (need an engine rebuild?), and the depreciation of your vehicle.
Whether to proceed with a major engine rebuild, a minor engine service, or just purchasing a new vehicle is a big decision. For professional advice, contact our ASE Certified Technicians at Cannon Auto Repair today by calling 507-263-2120 for more information about our engine service. Our auto repair shop serves vehicle owners in Cannon Falls, MN, and the surrounding areas.
About the Author
Deciding to keep a vehicle and take care of a needed engine service is a hard decision unless money is no object. If you are like most drivers, a new car or truck in the garage would be great, instead of putting out hundreds of dollars on an engine rebuild. But, purchasing a vehicle is a huge financial commitment in today's economy.
So, before deciding whether to go ahead and buy that beautiful new car or truck, or go for that engine rebuild, take a few minutes to answer these questions:
- What can your budget handle? If you purchase a new vehicle, will it compromise your living expenses, savings, or retirement accounts? If a monthly payment or cash purchase of a new vehicle restricts your budget or decreases your savings drastically, an engine rebuild would be a wiser investment instead.
- What is the value of your current vehicle compared to repair costs? As the years go by, maintaining an older vehicle gets relatively more expensive. Repairs costs will continue to increase while the value of your vehicle decreases. Keep in mind that generally, if an engine service or a complete engine rebuild costs more than 30% the value of your vehicle, consider buying a newer vehicle if your budget can handle it.
- Any big expenses coming up in the near future? If you will be sending kids to college soon, or you own your home and need a new roof, take these large expenses into consideration before purchasing a new vehicle. Don't drain your financial nest egg.
- What is the expected lifespan of your current vehicle? Do you love your car or truck and just don't want to get rid of it? Also, before making a decision, consider how many miles you drive a year, the major repairs that have already been done on your vehicle, pending repairs (need an engine rebuild?), and the depreciation of your vehicle.
Whether to proceed with a major engine rebuild, a minor engine service, or just purchasing a new vehicle is a big decision. For professional advice, contact our ASE Certified Technicians at Cannon Auto Repair today by calling 507-263-2120 for more information about our engine service. Our auto repair shop serves vehicle owners in Cannon Falls, MN, and the surrounding areas.
About the Author
