5 Hidden Costs of Owning a Junk Car

1. Constant Repair Costs & Unpredictability

Most obviously, your old vehicle is probably costing you a lot in repair costs, both expected and unplanned. Regular vehicle maintenance and repairs, like oil changes, fluid replacements, tire rotations etc., are required to keep your vehicle in top condition. However, as a vehicle ages, it can break down at a faster rate and features and functions, like A/C, seat warmers, automatic windows, etc. can stop working and major repairs could be required.

The unpredictability of the frequency of required repairs and the mounting costs make keeping a junk car more of a hassle than it’s worth. Regardless of the stage of life you are currently in, you need a dependable vehicle, not one that could possibly break down every time you drive on the Thruway.

2. Time Missed Off From Work

How many times has your old vehicle made you late to work, an important appointment, meeting friends or family, or just arriving on time? While a broken down car may be a common excuse for arriving late to the office, your boss will only accept it so many times. You may be required to start using PTO or vacation time to cover the number of hours spent at the auto shop waiting for your vehicle to be repaired, leaving you short when emergencies or illnesses come up unexpectedly.

3. Increased & Unnecessary Stress

The mental stress of knowing your junk car could not start when you are ready to leave or that, at any moment, you could have dangerous engine failure while driving is a major side effect of owning an old vehicle. Your vehicle’s job is to get you from point A to point B safely and successfully. If it can’t, you need to ask yourself why you are bothering to keep it and allowing it to add extra stress to your daily life.

4. Cost Of Keeping the Vehicle Registered & Insured

In recent years, the cost of registering and insuring a vehicle seems to keep increasing. With a junk car that keeps breaking down, it will become increasingly more difficult to pass NYS vehicle inspections, leading you to pay more money to repair your junk car before you can even legally have it on the road.

Once your vehicle passes inspection, you also need to remember to continually update your vehicle’s registration and continue to pay your mandatory NYS auto insurance. While insurance companies may provide discounts for vehicle safety features, good driving records, or other vehicle updates, your junk vehicle may not apply due to its age and condition. That means more money out of your pocket to keep driving your old vehicle when it may not even be worth that amount.

5. Vehicle Loss Of Value Over Time

The longer you wait to sell your vehicle, the less you may potentially receive. Vehicles are heavily and rapidly depreciating assets. Once your vehicle starts to accumulate higher mileage and years, its value declines, even before factoring in issues and vehicle failures.

Selling Your Junk Vehicle

If you plan to sell your junk vehicle, there are several factors to consider that impact your junk vehicle’s worth. For example, pay attention to the continually changing value of materials, which directly impacts how much you can expect to receive for your vehicle. Additionally, do some research on seasonal vehicle trends to see if there may be an ideal time to turn in your junk car.

Your junk car may be costing you more than you realize. Everyone needs a reliable vehicle they can count on to get them where they need to go. While purchasing a new car may be expensive, ask yourself how much your junk car is already costing you to keep it drivable. Sell My Junk Car can offer you cash for your old vehicle to help you in your search for your next car!

Want to find out how much your junk vehicle is worth? Get a quote now!