A: While this is a common question, there is no single answer that is right for every vehicle or owner. That being said, there are some guidelines that we can offer to help you make the right decision for you and your family.
First, we suggest you bring it in for a check, if you haven't done that recently. Assessing the current condition of your vehicle, noting if it needs any maintenance or repairs will be a big factor in your decision. We can tell you what is critical to be repaired and what looks like it will need work in the future, but can be put off without risking your safety or the life of the vehicle.
Once you have an idea of what work needs to be done to your car or truck, you can make a better financial decision. The other part of that is considering how much money you have routinely been putting into the vehicle. For some people this makes it an easy choice: when their car repair bills are approaching or surpassing a new car payment, they get a new vehicle.
But keep in mind that a newer vehicle will most likely cost your more in taxes and insurance, so be sure to weigh that into the financial equation.
But there may be reasons why you choose to keep a car that go beyond finances. For some, there is an emotional attachment to a vehicle. For other folks, the car or truck has a specific purpose that perhaps is not going to last that much longer. Especially if there is not plan to replace the vehicle, it might make sense to hang on to the current one.
Bottom line, we can't answer the question of whether or not you "should" keep your vehicle. We can however make sure that the car or truck you drive is safe and give you the best information so you can make an informed decision about when the time is right to get a new one.