There will always be the burning question of repairing your car against the outlay of buying a replacement but sometimes, when life forces our hand, the immediate higher expenditure can in fact save more money long term.

Since the DVLA’s introduction of the new License Plate numbering system, cars produced in the early 2000s still have a new feel to them... until you take into account how old they actually are.

The Age of Your Car

With the average national age of a car approaching 7 ½ years, car buyers have been holding on to their current motors for that extra little bit of time.

With the economy being on a downwards trajectory in these recent years and households feeling the pinch of the recession, it hasn’t always been the easiest thing to buy a replacement or first car.

But as those little repairs start to crop up the question as to whether it’s better in the long term to replace your prized ride becomes ever more prevalent. Average labour rates reached as high as £130 per hour in 2014, meaning that even a small repair to your car can set you back considerably when you factor in the cost for the parts and the total cost when these repairs stack up.

So, What Are The Benefits Of Replacing?

Along with the new car itself of course, comes the perks of warranties and guarantees helping to future proof your purchase for that extra bit of time and bringing you a more sound peace of mind.

Couple this with newer cars being built in a better and more efficient way you can notice your Road Tax could reduce, as manufacturers look to build cars with lower carbon dioxide (CO2) emissions.

You can find out your car’s emission details on your V5C registration certificate, or here online at the VCA (Vehicle Certification Agency) if you don’t have your V5C to hand.

The range in savings you could make per year stretch into the hundreds. Take a look at current vehicle tax rates here.

Where Next?

Most people cannot afford a steep one-off purchase fee of several thousands for a new car. However, in 2015 more people are turning towards the idea of car financing than ever before.

The car finance market is a competitive forum. Fortunately, at Motor Range we’re not restricted to any one finance company, meaning our finance department can search through different options to provide you with a lower rate for customers wishing to use our finance facilities.

We know it can be difficult to leave behind your old car but when the range of car choice and great finance options we available to you, this is a time to consider it, particularly as repair costs continue to rise and repairs themselves come more frequently as your car ages.