Car Decisions: Is it Worth Buying a Car that Needs Work?

While you are searching through the classifieds for a new ride, you may stumble across a vehicle that needs a few repairs. While your initial response may be to pass over the advertisement, the flawed vehicle may actually be a diamond in the rough. Once the vehicle is fixed, it may be able to last for many years to come. Here are some of the pros and cons of buying a car that needs work.

Cons: Fear of the unknown

Purchasing a vehicle that needs work always carries an element of uncertainty. For example, the seller may tell you that the vehicle will not crank due to a failed alternator. While this may be true, the car could also have other mechanical problems as well. Unfortunately, you will not find out until you install the new alternator.

Cons: Underestimate the cost of the repairs

At first glance, the total cost of the necessary repair work may seem very affordable. However, the damage could be more extensive than you originally thought. Upon taking the vehicle out for a test drive, you make notice that the steering is off-kilter. While the car may just need a simple wheel alignment, the steering problem could also stem from damage to the frame. Frame damage is very expensive to repair.

Pros: Leverage in negotiating a deal

Depending on the amount of work that is needed, you may be able to negotiate a great deal with the seller. Some people are in a financial bind and simply can not afford to make the repairs. This is a win-win situation for both parties. Although the cost to repair the vehicle may total $450, the low purchase price will more than make up the difference.

Pros: A new hobby

If you don’t need the car right away and are looking for something to do on the evenings and weekends, a project car may be perfect for you. Many people gain fulfillment in fixing up project cars. Often, the finished results are amazing, unique, and personal to you. There are plenty of books and websites to help you learn how to build up your new car.

You do not always have to buy brand new parts. Purchasing salvage parts can save hundreds of dollars, and may be more inexpensive than a flashier new car. For example, f the vehicle has a damaged fender, you should easily be able to find a dent-free replacement at the salvage yard.

Do not make the mistake of passing up a great car due to a few minor problems. The key is to take the time to analyze all of the critical factors. You can decide if you have the time and resources to fix up the car. You may even find a fun project.

Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing about business and finance and spending time with her dog, Max. Information credited to www.salvageyardphoenixaz.com.