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With the price tags on new cars growing steadily, car owners across
the country are choosing to invest money in their current
vehicles before thinking about buying a new car. Not only are regular
maintenance and occaisonal repairs important to keep you safe, but
they are smart financial decisions.
Your car or truck is probably one of your most valuable assets,
so it's very important to keep it in good running condition to
save you money in the future.
The Big Fixes
Even cars that have had every bit of their deserved
TLC will inevitably run into some issues. Parts like
axle boots and brake rotors eventually need replacement.
After you've racked up 150,000 to 200,000 kilometres, you
might also be looking at replacing your timing belt, water
pump or other drive belts. These repairs can cost over a
thousand dollars, but this is no time to run to the nearest
new car dealer. Though these parts carry a hefty price tag,
an investment like this in your vehicle can keep it running
safely and reliably for years to come.
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Ami-go
Automotive
264 Bronte St. South Unit 8
Milton, ON L9T 1Y8
(P) (905) 875 3644
(F) (905) 875 4635
Email:
service@ami-go.ca |
The Cost of a New Car
A new car in Canada averages a final price of about $28,000,
which breaks down to 20% down-payment, and $475 a month for
five years. That's $5700 a year, and that doesn't even take
into account registration fees and the hike in insurance prices.
Even the most expensive repairs (transmission, suspension,
radiator, and so on) won't usually set you back a quarter of that.
The Cost of Your Car
For vehicles older than three years, we recommend setting about
$50 a month aside, and about $75 a month for cars more than seven
years old. For most people this will cover all typical repairs
and maintenance in a year.
The Verdict
Repairing an old car is almost always less expensive than buying
a new one. Though a high repair bill is discouraging, it is likely
a better financial decision than buying new, and if it
isn't, your Ami-go mechanic is always there to offer advice, make
suggestions, and answer all of your questions.
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