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Should You Buy A New Car? Or Fix The One You Have?

Should You Buy A New Car? Or Fix The One You Have? Should you purchase something new or spend the money to fix up your current vehicle?
The experts from PSECU, a Pennsylvania-based credit union, examine this age-old question.
These tips and strategies will help you make the best financial decision for you and your family.
Purchasing a vehicle is one of the biggest financial decisions a person can make. Next to real-estate, an automobile is the second-largest expense for many. Cars don’t tend to last as long as homes, and depending on the type and condition, the maintenance costs might make keeping it a poor financial decision. At times, this can bring us to an important question: should I fix my car or buy a new one?
Getting out of a vehicle that’s expensive to maintain, even if it means spending more on something in better condition, might be the best decision if the repair bills are racking up.
However, that’s not always an easy conclusion to come to, as there are many factors to consider. Here are a few things to look at before swallowing a big down payment in hopes of cutting long-term losses.
Conduct Research
Sometimes a car goes through a careful selection process, or maybe it’s a cheap hand-me-down that fell into someone’s lap. Most people can tell you the make and model of their car; in that sense, they are familiar with it. However, if a person is not familiar with their car’s history and reputation for reliability, they can do some research to determine what kind of experience other owners have had. Conducting this type of research is important when making the decision between trading up or fixing up.
Consumer Reports, car enthusiast magazines, and online portals like Autotrader are great resources when researching repair costs. Local dealerships can process the vehicle’s VIN and determine which recalls have been issued and if they’ve been performed. For someone considering keeping their ride, ensuring all recall work is complete is a good way to preserve resale value.
Eventually, even the stoutest cars will succumb to the wear and tear of regular use after enough years or miles, unless its been obsessively maintained. Even then, some cars just weren’t made well from the factory. For example, certain Mercedes-Benz vehicles from the early 1990s have a reputation for lasting forever. Cars built by Daewoo represent a great value for the money, but typically don’t last as long due to less robust construction.
Should you purchase a new car or spend money to repair the one you have? The experts from PSECU, a Pennsylvania-based credit union, provide some insight into this important question.
Understand The Financial Situation
Maybe someone would like to have a new car, but is not clear on how the additional expense will impact their ability to pay rent or college loans. After all, the average price of an used car is $20,153, which can take a big bite out of a tight budget. This is a scenario where, despite the long-term cost being greater, someone might have to bite the bullet for a short time and have the necessary repairs made so they can maintain financial security.
There might be options to repair a car in a way that costs less. For example, a dealership may quote one price for a repair, but a private garage will almost always cost less. It’s best to ask a mechanic if there’s a way to save money on the repairs by getting used parts. If someone is handy in the garage, they might even be able to do the repair themselves. Replacing a spark plug or changing a thermostat is typically something the average DIYer can do.
Ask a trusted mechanic if used parts are right for your car.
Consider Resale Value
Should someone choose to go down the path of buying a new car, financing becomes the name of the game. Paying in cash for a vehicle can sometimes result in a better deal, but many dealerships prefer to secure a higher bottom line through long-term financing offers. They might not respond to a lower, all-cash offer the way an used car operation might.
What is the current value of the car? It’s never a good idea to purchase a vehicle as an investment, but certain ones can hold their value well. This can work in someone’s favor if they need to make a switch. A Toyota Tacoma with a damaged transmission, for example, might be worth repairing because the resale value of those trucks is legendary.
A less reputable car that needs an expensive repair might be better sold for parts.
Certain vehicles, like the 2019 Toyota Tacoma, hold their resale value quite well. Always consider the resale value of your current vehicle when deciding whether to trade up or fix up. Photo: Toyota Motor Sales, U.S.A., Inc.
Related: Toyota often scores high in studies focused on longevity and resale value.
What Does Your Car Mean You?
Fans of Top Gear might remember the hosts saying someone can’t be a true “petrolhead” without owning an Alfa Romeo. These Italian automobiles, famous for sultry looks and sonorous engine notes, are notorious for breaking down. That’s just part of the Alfa ownership experience. Old Jaguars and MGs have comically bad electronics. To the right person, that’s not a fault — it’s just character. To justify keeping a car for sentimental value, drivers should make sure they can provide a well-informed summary of their financial situation.
However, if someone understands that and owns a car truly special to them, then it’s okay to make the necessary repairs. Certain things are hard to replace, and newer isn’t always better. People don’t always get the same joy out of a newer, more reliable car.
Ideally, if someone is in a position to preserve a car that’s special, it’s likely not their only vehicle. With a well-organized financial plan, people can budget for the inevitable repairs and enjoy the experience of owning that unique automobile until the time comes when they can afford to buy something else. Maybe they just want to keep bleeding it out so they can drive their “forever” car daily. That’s not necessarily a bad thing. Cars are an extension of the driver’s personality, and the right one doesn’t come along every day.
This post sponsored by the Pennsylvania State Employees Credit Union, a not-for-profit financial cooperative. Started in 1934 by 22 state workers, PSECU provided reprieve to those struggling against low wages, high living costs, and predatory loan sharks. Today the institution helps more than 450,000 members achieve their financial goals through the founders’ original philosophy of “people helping people.”

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Mitsubishi Engelberg Tourer Concept: A Glimpse of Magnificence?

Mitsubishi Engelberg Tourer Concept: A Glimpse of Magnificence? Mitsubishi says the Engelberg Tourer Concept can handle any and all weather conditions.
Total driving range of the plug-in hybrid – engine and batteries combined – is over 430 miles.
A special home charging system with solar panels accompanies the Engelberg Tourer Concept.
The Mitsubishi Engelberg Tourer is more than a glimpse of magnificence from the once-mighty Japanese diamond star. It is proof that future crossover vehicles – whether plug-in hybrids or full-electric – will be far from boring. And they won’t look the same, either.
Look at this thing, for example. The Mitsubishi Engelberg Tourer is hard to figure out, which is probably the reason I’m loving it already. There’s a shock and awe factor when you first catch this SUV. There’s no denying the sporty and adventurous DNA; Mitsubishi vehicles are known for their sportiness anyway.
Yet viewed from the side and rear, the Engelberg Tourer has subtle hints of rugged luxury, similar to the Range Rovers and Land Cruisers of the world. Folks, you are looking at Mitsubishi’s next-generation plug-in hybrid SUV.
Brutish & Modern Style
Sadly, the Mitsubishi Engelberg Tourer is just a concept. Then again, this SUV is actually pretty close to reality, and similar to the Nissan IMQ concept CUV in some ways. Although different in size and scope, both concepts would likely find promising markets, given consumer demand for SUVs and crossovers today. But unlike the Nissan (which seems like the offspring of a Nissan supercar and Lexus crossover), the Mitsubishi Engelberg bears a striking resemblance to current Mitsubishi vehicles.
Are you familiar with either the Mitsubishi Triton/Strada/L200 pickup; Montero Sport/Pajero Sport SUV; or the Xpander MPV? The common denominator between each is the “dynamic-shield” face. But with the Engelberg Concept, the dynamic-shield design is cleaner and more defined. The design is a bit polarizing, I’ll give you that, but the brutish face grows on you like a goatee.
The Mitsubishi Engelberg Tourer features an updated version of the dynamic-shield face design. Photo: Mitsubishi Motors North America.
What’s In A Name?
But compared to existing Mitsubishi SUVs, the Engelberg Tourer is chunkier and more purposeful. There’s no doubt the Engelberg Tourer concept is a vehicle for active lifestyles. Even the “Engelberg” appellation is derived from a well-known ski resort in Switzerland. I’m sure you’ll agree, it doesn’t get sportier or more outdoorsy than being named after a Swiss alpine resort.
But if I were Mitsubishi, I’ll choose Outlander or Pajero Sport as a final name. And if I’m betting my hard-earned dollars, I have a feeling this concept will shed the odd name for something more familiar or appealing like, umm, Outlander or Pajero Sport.
Advanced Electrification
As the Mitsubishi Engelberg Tourer made its entrance during the Geneva International Motor Show, most of the hype focused on the Twin-Motor 4WD plug-in hybrid system. Now that’s quite a mouthful, so allow me to break it down. Similar to other plug-in hybrids, the Engelberg Tourer comes with a 2.4-liter gasoline engine. But it also comes with a rather large battery pack and two electric motors – one for the front and one in the rear. This allows the vehicle to achieve an impressive all-electric cruising range of 43 miles or 70 kilometers.
But if you take into account a fully-charged battery pack and a tankful of delicious petrol, the Engelberg Tourer has a cruising range of 434 miles or 700 kilometers. This is because the gasoline motor is acting as an onboard generator to charge the battery pack in series-hybrid mode.
Combined with the sleek shape and active radiator shutters, the Mitsubishi Engelberg Tourer is aerodynamically-enhanced to achieve every ounce of range, according to the company. And Mitsubishi was able to do all this without scrimping on cabin space. This vehicle is roomy enough to accommodate seven.
Mitsubishi Engelberg Tourer interior layout. Photo: Mitsubishi Motors North America, Inc.
All-Wheel Control Technology
But the talk of the town is the twin-motor, full-time 4WD system. This is enough to make Mitsubishi fanboys blush with excitement. The Engelberg Tourer utilizes Active Yaw Control (AYC) and Super All-Wheel Control (S-AWC) in the powertrain.
Now, where did I hear that before? If you answered Lancer Evolution, you’re right on the money!
Active yaw control allows the electric motor to tailor the torque split between the front wheels. In the meantime, S-AWC alters the braking force at each wheel. It also monitors the power output in the front and rear electric motor. What does this all mean exactly? Picture the handling dynamics of a rally car combined with the ruggedness of an off-road SUV fed by electrons. If you add other abbreviations like ASC (active stability control) and ABS, the Engelberg Tourer is an SUV you can definitely throw around.
What’s next? The Dakar Rally or World Rally Championships, perhaps? Come to think of it, that’s not a far-fetched idea considering Mitsubishi’s affiliation with all things related to rallying and off-road endurance.
Photo: Mitsubishi Motors North America, Inc.
Green Charging Options: DENDO Drive House
It’s nice that Mitsubishi is making an initiative towards sustainable energy options. The DENDO Drive House (DDH) technology is proof of that. The goal is to package the DDH system with the Engelberg Tourer. It consists of a bi-directional charger, solar panels, and home battery.
Yes, it’s remarkably similar to Tesla’s Powerwall. The DDS system will basically absorb power from the sun and store the energy in a larger battery pack. This means you can charge your plug-in hybrid vehicle using pure solar energy. This also means you can power your home at night using the juice from the home batteries and PHEV.
The DDH system will be available at Mitsubishi dealers in select markets around the world, but the Japanese car maker will start offering the service initially in Japan and Europe later this year. The dealer will handle installation and after-maintenance.
Photo: Mitsubishi Motors North America, Inc.
Pricing & Availability
All of this sounds promising, but how much will it cost? Considering a pair of Tesla Powerwalls will set you back around $15,000, it will be great if Mitsubishi bundles the DDH system at a lower price. As for the Mitsubishi Engelberg Tourer, it’s just a concept for now. It’s our best guess as to when we will see it on the market, if at all.
Alvin Reyes is the Associate Editor of Automoblog. He studied civil aviation, aeronautics, and accountancy in his younger years and is still very much smitten to his former Lancer GSR and Galant SS. He also likes fried chicken, music, and herbal medicine.
Mitsubishi Engelberg Tourer Concept Gallery

Photos & Source: Mitsubishi Motors North America, Inc.

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Porsche Introduces New 911 GTS Models

“Faster and more capable than ever before,” says Porsche. Which, when applied to the 911 GTS, might actually be bending the laws of physics, but people have foolishly underestimated Porsche for decades now, so I’m not going to argue with them.

Look, before we get our hands dirty with the nitty-gritty here, let’s just get one thing straight: The previous GTS variants are titanically capable cars. They go and stop (Porsche’s two high altars) and turn like you wouldn’t believe.

And they almost have that terminal (just like the “terminal” in any disease or sickness) oversteer dialed out.

Okay, first things first, there are five of these little beasts available. The 911 Carrera GTS with rear-wheel drive, the 911 Carrera 4 GTS with all-wheel drive, both available as a Coupé and Cabriolet, and the 911 Targa 4 GTS with all-wheel drive.

Power & Performance

Impetus comes from Porsche’s 3.0-liter flat-six cylinder, cranking out 450 horsepower with larger turbochargers. That’s 30 horsepower more than the current 911 Carrera S and 20 horsepower above the previous, naturally-aspirated GTS model. All GTS cars are standard with a seven-speed manual transmission, specifically for you luddites. The seven-speed Porsche Doppelkupplung (PDK) dual-clutch transmission is available for you customers without 1100cc brains and bulging occipital bones.

Said mill puts out 405 lb-ft. of torque (37 lb-ft. more than the Carrera S) that “further improves acceleration and responsiveness,” according to Porsche. Ya think? Maximum torque is available between 2,150 and 5,000 rpms. Broad shouldered, no?

911 GTS Coupé models accelerate from 0 to 60 mph 0.2 seconds faster than the Carrera S and 4S Coupés. When equipped with the optional PDK transmission, the Carrera 4 GTS Coupé takes just 3.4 seconds to hit 60. Top track speed of the GTS models is up to 3 mph higher, depending on the variant. For example, the 911 GTS Coupé with manual transmission and rear-wheel drive is capable of 193 mph.

On the track, you knuckle dragging Saracens. On. The. Track.

Porsche Active Suspension Management is standard on all GTS models with the Coupés featuring the PASM Sport Suspension, which drops the ride height by 0.39 inches.

Photo: Porsche Cars North America.

Body & Styling

All GTS variants are based on the Carrera 4/4S body. The new Sport Design front end with a spoiler lip painted in black emphasizes the car’s performance character. Combined with an increased rear spoiler extension height, lift is cut on the front and rear axle more than on the Carrera S models. Tinted tail lights, rear lid grill strips with a satin black finish, and tailpipes in high-gloss black give the GTS a noticeable look. Sport Design exterior mirrors, 20-inch center lock wheels painted in satin black, and black GTS logos on the doors are added bits of flash.

The characteristic Targa bar, which is black with a satin finish for the first time, gives the 911 Targa 4 GTS a very exclusive look.

The GTS interior is unique as well, seen especially in things like the stopwatch from the standard Sport Chrono Package in the center of the dashboard. Standard Sport Seats Plus with GTS logos on the headrests provide increased lateral support and comfort. They are fitted with a combination of leather and Alcantara with new seat stitching. The standard GT Sport steering wheel is also covered in Alcantara as is the gear lever and the armrest. Finally, brushed aluminum interior trim is anodized with a black finish.

The Porsche Track Precision App features automatic recording and a detailed data display for smartphones. The MSRP ranges from $119,000 for the 911 Carrera GTS, up to $ 138,200 for the 911 Targa 4 GTS.

Start saving.

Tony Borroz has spent his entire life racing antique and sports cars. He means well, even if he has a bias towards lighter, agile cars rather than big engine muscle cars or family sedans.

Porsche 911 GTS Gallery

Photos & Source: Porsche Cars North America.

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Ford Introduces City of Tomorrow as Ranger & Bronco Return

Ford Motor Company made significant announcements regarding their vehicles and the future of mobility this week at the North American International Auto Show. The automaker showcased their new, 2018 F-150, confirmed the Ranger and Bronco will return, revealed an expansion of their Chariot ride-sharing service, and presented a dynamic vision for the “City of Tomorrow.”

“This year, the expansion of our business as an auto and mobility company moves into even higher gear,” said Mark Fields, President and CEO, Ford Motor Company.

Fields underscored the significance of Ford’s recent investment of $4.5 billion in the next five years to their vehicle line and to the future of mobility.

“We’re introducing even more new vehicles and technologies to make life better for millions of people in the near term, plus we’re presenting a vision and partnering with cities to move more people even more efficiently in the future,” he said.

Electrified & Autonomous Designs

Part of the aforementioned investment is targeted towards 23 new electric vehicles, including hybrid versions of the F-150 and Mustang, two pursuit-rated hybrid police vehicles, a Transit Custom plug-in hybrid, and a fully electric small SUV with an estimated range of at least 300 miles. Other plans include a high-volume, fully autonomous SAE level 4-capable vehicle. It will be complete with – or incomplete with we might say – but, the vehicle will have no steering wheel, gas, or brake pedal.

It’s expected to be in commercial operation by 2021 as a ride-sharing type vehicle.

Within the next five years, Ford expects autonomous vehicles will be introduced in cities around the world. The automaker is also predicting global EV offerings will eventually outnumber gasoline-powered ones in the next 15 years.

Ride Sharing Surge

These days, it’s not uncommon for us to have a ride-sharing app on our phone. Ford’s app-based, crowd-sourced ride sharing service Chariot is expanding rapidly. Chariot, which currently operates in San Francisco, California and Austin, Texas, is adding eight cities in 2017, including at least one outside of the United States.

Ranger & Bronco

While there were dozens of rumors flying about, nothing was confirmed until this week. Ford is indeed bringing the Ranger back to North America for 2019. The Bronco follows in 2020 and will be available globally. Both vehicles will be manufactured at Ford’s Michigan Assembly Plant in Wayne, Michigan.

“We’ve heard our customers loud and clear. They want a new generation of vehicles that are incredibly capable yet fun to drive,” said Joe Hinrichs, Ford’s President of The Americas.

The success of the Chevrolet Colorado and Honda Ridgeline proved the midsize truck market is alive and well, and ripe for the taking. Although a Ranger/Bronco combo were merely rumors up until this week, it would be hard to imagine Ford giving up any ground here against competitors. Sooner or later, we expected this announcement, given the demand for midsize trucks and SUVs.

“Ranger is for truck buyers who want an affordable, functional, rugged, and maneuverable pickup that’s Built Ford Tough,” Hinrichs said. “Bronco will be a no-compromise midsize 4×4 utility for thrill seekers who want to venture way beyond the city.”

City of Tomorrow. Photo: Ford Motor Company.

City of Tomorrow

Beyond building vehicles, Ford wants to optimize the infrastructure of our urban homes, and directly address the growing changes and challenges when it comes to mobility. Ford’s City Solutions Team is the first of its kind in the automotive industry, working with the world’s major cites to tackle everything from gridlock to air pollution.

Bill Ford, Executive Chairman of Ford Motor Company, is particularly passionate about the topic.

“This is an issue that goes far beyond congestion. It is one that represents a massive challenge to mankind, one that affects our well-being and access to health care, clean drinking water, food, a safe place to live, and even the ability to find work,” he said.

Ford’s City of Tomorrow looks at how near-term mobility advancements like autonomous and electric vehicles, ride-sharing and ride-hailing, and other connected vehicles interact with urban infrastructure. The entire “transportation ecosystem,” if you will, is examined, and most of the vehicles included in that ecosystem are autonomous and electrified.

Ford envisions a world where drones play a critical role as well. For example, they could be quickly deployed to survey and map the hardest-hit areas following earthquakes, tsunamis, or other major disasters. Meanwhile, data from all aspects of the ecosystem could be gathered on vehicles, bikes, mass transit, street lights, parking meters, and charging infrastructure to quickly access a multitude of situations.

Elsewhere in the City of Tomorrow, reconfigurable roads can respond to commuter needs and traffic flow. Other solutions include eliminating traffic jams, reducing emissions, and bringing accidents and collisions to record low levels. Road space is even saved in favor of greener landscapes like parks and recreation areas.

It’s a brave new world, not without it’s challenges, yes, but certinately possible.

“By solving the mobility challenge, we have the chance to create a better world for future generations. It’s both an exciting opportunity and a big responsibility,” Ford said.

Carl Anthony is Managing Editor of Automoblog and resides in Detroit, Michigan.

Photos & Source: Ford Motor Company.

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Redesigned Mercedes-Benz GLA Debuts In Detroit

The Mercedes-Benz compact SUV, the GLA, has been refreshed with what the Stuttgart company calls an “expressive design.” The revamped GLA features updated equipment, both inside and out, and new safety features.

Oh, and there’s an AMG model too.

Outwardly, the 2018 Mercedes-Benz GLA has modified bumpers, new wheel designs, and the new color “Canyon Beige.” Also, you’ll notice that the previously-optional bi-xenon headlamps are gone, making way for more efficient LED headlamps.

The automaker officially revealed the new GLA at the North American International Auto Show in Detroit, Michigan this week.

Interior Layout

The interior of the GLA has been reworked with high-quality materials as well as new seat covers. There is a free-standing 8-inch media display and new gauges in the instrument panel with red needles. Also, there’s lots of chrome strewn hither and yon. The controls for the electric seat adjustments have highlights in silver chrome, and the stowage compartment in the center console is also surrounded by a chrome frame. There is also an optional Interior Package with standard sport seats aimed at the “particularly sporty customer.”

An exterior nicety is an appearance package that includes 19-inch AMG wheels, black window trim, exterior mirrors, roof rails, exhaust tips, and exterior accents. Mercedes-Benz calls this option “The Night Package.” Kind of hilarious.

There is a 360-degree camera available that can display a full-image depiction or in seven different split-screen views on the media display. The camera system can also make a virtual top view of the car to aid in getting in and out of tight parking spots.

It’s not all just cake decorating though.

Mercedes-Benz focused heavily on aerodynamics with the GLA, giving the vehicle solid flow characteristics that contribute to increased fuel economy and reduced road noise. Testing was done in a high-speed wind tunnel in Sindelfingen, Germany. One dynamic change is the low A- pillar step, corresponding A-pillar design, and the aerodynamically optimized exterior mirror housings. Furthermore, the trim on the main floor, additional trim in the center section of the rear axle, and even the rear silencer with a connected diffuser improve the flow of air beneath the vehicle. Photo: Mercedes-Benz USA.

Power & Performance

Now, in case you’re a gearhead (like us) and all this interior frewforaw leaves you cold, hold on, because they also make the AMG GLA45.

The AMG version of Mercedes’ little ute is provoked by a handcrafted 2.0L turbo engine. “Only two liters,” you moan? Shut up. The thing reels out 375 horsepower and 350 lb-ft. of torque, good enough for a time of zero to 60 mph in just 4.3 seconds. It’s also good enough to stop your whining. The little turbocharged 2.0L four-cylinder mill has extremely fast throttle response thanks to the spray-guided Piezo direct injectors that are centrally located in the four combustion chambers.

The AMG SPEEDSHIFT DCT 7- speed transmission includes shorter ratios in gears three to seven to emphasize acceleration. Together with optimized response and shift times, the closer ratio spread ensures better transitions, especially when upshifting. There is an optional AMG Performance Exhaust System for an even sportier exhaust note too. You can even vary the sound via a switch, which is especially nice under acceleration.

The standard all-wheel drive AMG Performance 4MATIC system provides traction in a variety of weather conditions. The technology transfers power to all the wheels as torque is distributed to the front and rear axle. This configuration is designed for an optimum ratio of sportiness, efficiency, and traction to match any driving situation. A multiple-disc clutch is integrated in the rear axle differential with AMG-specific control passes on the engine torque to the rear wheels, should the front wheels lose traction. The spectrum ranges from purely front-wheel drive to a 50:50 ratio for the front and rear wheels. Photo: Mercedes-Benz USA.

Appropriate Styling

The AMG variant also looks a little different, natch.

We expected as much . . .

The front section has been sharpened with the front bumper and given an even more dynamic shape. The new air intake grilles and front splitter insert in silver chrome plus flics (i.e. dive planes) in high-gloss black are other nice additions. The LED High Performance headlamps are now part of the standard AMG equipment.

The twin louver on the AMG Twin Blade radiator grille is now done in silver chrome, as are the inserts in the side sill panels. There are optional multi-spoke 20-inch light-alloy wheels available in two colors, matte black or painted titanium grey. Out back there’s a new diffuser, trimmed in silver chrome, plus a new spoiler lip on the roof.

Inside, the dash is covered with standard MB-Tex and has red contrast topstitching. The trim, extending over virtually the entire width of the car is, a high-gloss surface with AMG lettering available in black/red or in black/silver, depending on upholstery.

The 2018 GLA will go on sale in the United States this summer.

Tony Borroz has spent his entire life racing antique and sports cars. He means well, even if he has a bias towards lighter, agile cars rather than big engine muscle cars or family sedans.