Although holding on to your business vehicle for a long time makes you save more, even the sturdiest vehicles eventually wear out and need to be replaced. Here are signs to tell you that it's time to let go of your vehicle and invest in a new or a lightly used car.
Frequent breakdowns and repairs
It's reasonable to experience breakdowns and even buy some new repairs for an old vehicle, but when this is done frequently, then the vehicle becomes a liability. A major breakdown that requires costly repairs should raise eyebrows.
Experiencing over two major breakdowns in a year that will require big repairs such as fixing engine malfunctions and radiator replacement or exhaust systems is a big sign that it impractical for the vehicle to continue running.
When the interior of the car starts deteriorating, it's a clear indication that the vehicle is beyond salvage. Damages such as floors with holes, falling off knobs, and torn fabric mean that even riding the car feels like a hardship.
Friends and family get ashamed being seen with you
Most people are not aware that their vehicles look as bad as they do and keep comforting themselves that provided it is still running, it serves the purpose. This may continue until even customers judge the image of your business depending on your vehicle. If you realize that customers associate your old and worn out car with the quality of your business, then you should consider ditching the old machine and buy a better vehicle that doesn't ruin the reputation of your business.
The vehicle doesn't pass emissions test
The emissions that come from the tailpipe of your car ought to be safe for the environment and the atmosphere. But if your car is a not a 'drive clean' model, then consider purchasing a newer model of vehicle that can pass environmental emission tests. You have to pass this test when renewing your vehicle's plates. Don't waste a lot of money in adding some newer technologies to the vehicle to pass the test, but instead start making calls and shopping for a better vehicle for your business.
High insurance costs
It's easier to get cheap insurance quotes among a host of other safety features for a newer model of car as compared to trying to insure and older model. Even if your driving license has a clean track record, the annual insurance premiums will keep increasing as the car gets older. You ought to pay attention to all costs that come with operating a car such as gas, repairs, and insurance premiums so as to avoid incurring substantial liabilities on your business.
Spending too much time at the Gas Pump
Older vehicles are less fuel efficient as compared to newer models. Every year, a newer model of car is said to be more fuel efficient than the previous year's counterpart. A car that was bought in the 1990s cannot be compared to a 2015 Toyota Prius gas-electric hybrid in terms of fuel efficiency. The costs of operating an old vehicle can add up quickly and ruin your business' objectives. Driving an old car is not safe, especially when driving on highways. Moreover, older cars don't have the safety features found in modern models of vehicles in the market today.
If you realize that the cost of repairing your car is higher that the car's worth, just dispose of the car. It will not make sense to spend about $2,000 on repairing a car that is worth $500.