{"id":779620,"date":"2019-05-09T15:36:23","date_gmt":"2019-05-09T19:36:23","guid":{"rendered":"https:\/\/www.finder.com\/ca\/?p=779620"},"modified":"2026-02-22T15:32:39","modified_gmt":"2026-02-22T20:32:39","slug":"when-should-you-replace-an-old-car","status":"publish","type":"post","link":"https:\/\/www.finder.com\/ca\/car-loans\/buying-a-car\/when-should-you-replace-an-old-car","title":{"rendered":"When should you replace an old car?"},"content":{"rendered":"

Deciding to replace your old car or not can be an important decision when it comes finances and safety. In this guide we\u2019ve outlined the details about when it might be best to keep your car or replace it with another newer model.<\/p>

When is the right time to replace my older car?<\/h3>

If you find that your car has a track record of reliability and is cheap to run, then it may not be worth upgrading from a financial point of view.<\/p>

But if you\u2019re starting to see more maintenance costs on your older car, calculate how much you spend per month fixing your car. You might be better off trading in your current car, putting the money towards a down payment on a new car and then using your monthly payments to pay for that car. If you don\u2019t relish the thought of buying new, you might want to buy a gently used, but more reliable, car.<\/p>

In fact, given that vehicles lose much of their value within the first 2 years of ownership, some financial experts advocate buying slightly used vehicles rather than new ones, because you get a car that\u2019s almost new but for a greatly reduced price.<\/p><\/blockquote>

You can also keep track of your car\u2019s value over time. If your car faces a big problem that will cost more to fix than it\u2019s worth, you\u2019ll have to decide if you want to put in the cash to repair a dying car or get rid of it and start fresh with a lower maintenance vehicles. If your car is really beginning to age, it\u2019s anyone\u2019s guess how much maintenance it will need in the future.<\/p>

Keep in mind that your car\u2019s value is also tied to its working condition. You might be hoping to drive your car into the ground, but trading in your car before it dies could actually give you some money to pay for a new or new-to-you car. It could be hard to find a buyer for a car that won\u2019t run or that needs major repairs.<\/p>

Buy, sell or trade-in your car online<\/h3>
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1 of 1 result<\/span><\/small><\/div><\/div><\/div>
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\n Max. Vehicle Age\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Mileage Range\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Available Provinces\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th>\n Vehicle Payment\n <\/use><\/svg><\/use><\/svg><\/use><\/svg><\/th><\/tr><\/thead>
\n 2000 or newer\n <\/div><\/td>
\n Any\n <\/div><\/td>
\n ON, NS, NB, PE and BC (no trade-in option in BC)\n <\/div><\/td>
\n eTransfer funds in 1 business day\n <\/div><\/td>
\n Sell or trade-in your car without the hassle. Upload basic information and get an instant offer. Get the vehicle picked up from your driveway. Available in Ontario and Nova Scotia only.\n <\/div><\/td>
Go to site<\/a><\/use><\/svg>View details<\/span><\/a>
Compare product selection<\/legend>
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