The Cost of an Engine Rebuild vs. A New Vehicle
These days it seems like the trend is to run out and by a new car when you see the first signs of issues with your current car. According to the Engine Re-power Council (ERC) and the Car Care Council (CCC), that could be a costly trend in the long run. There are several factors to weigh. It may make more sense to your wallet if you simply perform a simple engine repair or even a major engine rebuild if all signs point to the engine and the rest of the car is in good condition. Consider the fact below:
REBUILD ENGINE?
Chances are when you start seeing engine problems that prompt an engine rebuild, your car is already paid off and your insurance rates are low. Those are two of the biggest month-to-month costs associated with a new car. A complete engine rebuild normally costs about 10% to 20% of the cost of a new car and comes with a one year warranty. The biggest con is the wait time you suffer from the moment you order to the installation and tune-in, which could be four to six months depending on what type of engine.
BUY A NEW CAR?
The advantage of buying a new car is simply the time frame. You can get one fairly easy and quick if you are qualified. The cons are payments ($300 to $600) for the next 60 months and a significant boost in insurance premiums due to full coverage.
Either way, you decide it would be in your best interest to do some research on both options to see what would be better for you and your wallet.
Anxious about a potential engine rebuild? Consult our ASE Certified Technicians at Gary’s Quality Automotive for more information about engine repair and to schedule an appointment. Our auto shop proudly serves vehicle owners in Grand Island, NE, Wood River, NE and Doniphan, NE.
These days it seems like the trend is to run out and by a new car when you see the first signs of issues with your current car. According to the Engine Re-power Council (ERC) and the Car Care Council (CCC), that could be a costly trend in the long run. There are several factors to weigh. It may make more sense to your wallet if you simply perform a simple engine repair or even a major engine rebuild if all signs point to the engine and the rest of the car is in good condition. Consider the fact below:
REBUILD ENGINE?
Chances are when you start seeing engine problems that prompt an engine rebuild, your car is already paid off and your insurance rates are low. Those are two of the biggest month-to-month costs associated with a new car. A complete engine rebuild normally costs about 10% to 20% of the cost of a new car and comes with a one year warranty. The biggest con is the wait time you suffer from the moment you order to the installation and tune-in, which could be four to six months depending on what type of engine.
BUY A NEW CAR?
The advantage of buying a new car is simply the time frame. You can get one fairly easy and quick if you are qualified. The cons are payments ($300 to $600) for the next 60 months and a significant boost in insurance premiums due to full coverage.
Either way, you decide it would be in your best interest to do some research on both options to see what would be better for you and your wallet.
Anxious about a potential engine rebuild? Consult our ASE Certified Technicians at Gary’s Quality Automotive for more information about engine repair and to schedule an appointment. Our auto shop proudly serves vehicle owners in Grand Island, NE, Wood River, NE and Doniphan, NE.
