Here at Park Muffler, we know that repair bills can be scary.
We also understand why you may feel tempted to junk your current car and replace it with something new.
Times are tough and many drivers are being placed in a difficult situation where repairing a vehicle is pricey yet replacing is near impossible.
This doesn’t just apply to individual financial situations – all around the world, used cars are in short supply.
Although buying a used car seems like a financially sound alternative to repairing your vehicle, today’s economy is making that difficult.
Supply and demand issues have made finding a used car near impossible and those that are available are being sold at outrageous prices.
So what do you do? Keep reading to learn more about the used car shortage and why you should focus on repairing and maintaining your current vehicle:
Why Is There a Used Car Shortage?
Due to a shortage in computer chips, car manufacturing has been negatively impacted over the past year. Because there is a lack of new cars available to purchase, finding a used car has become increasingly difficult.
Not only has finding a used car been difficult but the prices have sky-rocketed too.
These computer chips, known as semiconductors, are necessary for manufacturing new cars since more and more models require this type of technology in order to function.
As the COVID-19 pandemic spread across the world, global demand for these parts increased dramatically and supply slowed down significantly since these semiconductors take months to produce.
For this reason, automakers around the world had to cut down on production because of the chip shortage – and the decrease in new cars means that the availability of used cars has plummeted.
Now, more than ever, drivers are realizing the importance of maintaining their current vehicles and repairing them instead of replacing them.
Why You Should Repair Your Car Instead of Buying New
Even if you take good care of your car, repairs are unavoidable due to wear and tear. Components such as belts, brake rotors, and hoses will eventually need to be repaired or replaced.
Repairing is more often less expensive than buying a new or used car. Even a blown motor or failed transmission will cost less than replacing your vehicle.
If you’re tempted to take that repair cost and buy a used vehicle, consider this: Used cars can come with unseen issues that could require an expensive repair down the road.
Plus, hanging onto the car you have means that you know what repairs have been done and what condition the vehicle is in. There’s no guesswork as to the shape it is in!
Buying a new or used car can potentially impact your insurance rates and registration fees. Many newer cars, because they contain so many expensive and hard-to-replace components (especially nowadays), can cause your rates to go up.
Ultimately, you need a vehicle but it’s important not to rush into buying something new or used simply because your current one needs repair.
Focus your finances on fixing it now and work toward the goal of owning a new car in the future.
Will The Used Car Shortage End?
Experts say that car shoppers continue to face less inventory and fewer incentives to buy new as compared to pre-pandemic times but these current conditions won’t last forever.
Car manufacturers are adjusting to their own “new normal” and are exploring ways to make money with lower inventory levels.
While inventory may remain low, a buyer-friendly market will return eventually.
So while we all sit tight when it comes to buying a new or used vehicle, now is the time to focus on the repair and maintenance of your current car.
Saving Money on Car Repairs
Of course, the name of the game here is to spend as little money as possible to keep your car on the road.
In order to avoid huge repair bills, here are some tips you should follow:
- Shop around. Get more than one quote from reputable automotive technicians before having your car repaired.
- Look for in-house financing. Some repair centers will allow you to finance the cost of your repairs to help lighten the load on your wallet and budget.
- Do some repairs yourself. Only DIY repairs you are comfortable doing such as replacing wipers or fixing broken door handles.
Most importantly, you should include vehicle repair and maintenance costs into your budget. Making these changes now will help you avoid financial hardships in the future!
Why Maintaining Your Vehicle is the Best Choice
Even though repairs are inevitable, you can certainly avoid many of them by maintaining your car and keeping it in good shape.
Being proactive while your vehicle is in good working condition can help you avoid expensive repairs!
Here are some ways you can properly maintain your car:
- Have your vehicle maintained at proper intervals.
- Get issues repaired as soon as possible.
- Pay attention to items that commonly break down.
- Regularly check your fluids.
- Keep your tires in good shape.
- Change your vehicle’s air filters.
- Keep your car clean to avoid rust and corrosion.
Regular maintenance is not only important when it comes to avoiding expensive repairs but it also extends the life of your vehicle.
By following a regular maintenance schedule and paying attention to the way your car operates, you can help reduce wear and tear.
Keeping your car regularly maintained also increases its safety by avoiding breakdowns and ensuring it is safe to drive in extreme weather conditions.
Whatever You Need – We Can Help!
Ultimately, you know your car’s history and condition. While buying a new or used car may be absolutely necessary, in many situations having it repaired is the best course of action.
Before you make any choice, however, have your vehicle inspected by a licensed technician.
Our team at Park Muffler offers a wide range of services to help you keep your car well-maintained and in good working order.
We offer in-house financing if you need assistance in covering your automotive repair expenses.
Learn more here or book your appointment today!