Is It Smarter to Fix Your Car… or Buy Another One
Is It Smarter to Fix Your Car… or Buy Another One?
Is It Smarter to Fix Your Car… or Buy Another One?
If you own your car long enough, this question always comes up:
“Should I fix this one — or should I buy another car?”
It’s a fair question. Repairs feel expensive when they’re right in front of you. Buying another car can feel like a fresh start.
But when you slow it down and look at the real numbers, the answer often surprises people.
Let’s walk through a simple, fair comparison.
How Long Can a Well-Maintained Car Really Last?
With proper maintenance, many modern vehicles can reliably reach 300,000–500,000 miles. Longevity isn’t about luck — it’s about consistent care and informed decisions.
So instead of asking “Is this repair expensive?”, the better question is:
“What does this cost compared to replacing the car?”
A Helpful Tool: Edmunds “True Cost to Own”
You’ve probably heard of Edmunds. Beyond selling cars, they’ve built a tool called True Cost to Own, designed to show what a vehicle really costs over time — not just the purchase price.
You can find it by searching:
“Edmunds True Cost to Own”
Edmunds estimates ownership costs over five years, assuming 15,000 miles per year, and includes:
- Insurance
- Maintenance
- Repairs
- Taxes & fees
- Financing
- Depreciation
- Fuel
A Real-World Example
Let’s say you’re considering buying a 6-year-old Honda Accord — a very common, practical vehicle.
According to Edmunds:
- Five-year ownership cost: ~$43,000
- Fuel cost portion: ~$11,000
If we remove fuel (because you’d pay for fuel no matter what car you drive), that leaves:
~$32,000 just to own and operate the vehicle
But you still have to buy the car, which adds roughly $22,000.
Total five-year cost:
~$54,000
Over 75,000 miles (15,000 miles × 5 years), that works out to:
About 72¢ per mile
Now Let’s Compare That to Keeping Your Current Car
Every car — new or old — needs maintenance:
- Oil services
- Brake service
- Tires
- Fluid services
- Occasional repairs
Let’s be intentionally conservative.
Scenario A: Worst-Case Catch-Up
Let’s assume:
- You’ve done no maintenance
- You catch everything up
- You replace brakes, tires, and handle a few repairs
Total over five years: ~$18,000
That comes out to:
About 24¢ per mile
And realistically, nobody spends that all at once.
Scenario B: A More Realistic Situation
Let’s say your actual repair and maintenance needs total $7,000 over five years.
That drops your cost to:
About 9¢ per mile
The Big Picture
When you compare the numbers:
OptionApprox. Cost per MileBuy another car~72¢ per mileMaintain your current car (high estimate)~24¢ per mileMaintain your current car (realistic)~9¢ per mile
That’s a huge difference.
So… Should You Fix Your Car?
In many cases, yes — especially if:
- The car still meets your needs
- The repairs are maintenance-related, not structural failures
- You’re trying to avoid unnecessary monthly payments
Fixing the car you already own is often the most financially efficient decision you can make.
That doesn’t mean buying another car is wrong — but it should be a fully informed decision, not a reaction to a repair estimate.
One Last Tip
If you are considering replacing your vehicle, the Edmunds True Cost to Own calculator is a great resource to compare options realistically — beyond just the sticker price.
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