Recession has put great pressure on people’s finances. With job cut backs and increase in cost of maintaining vehicles, more and more drivers are having second thoughts on owning a car. Often, these expenses range from insurance to fuel, service and other operating costs. For recession-battered drivers, now is the high time to decide whether it’s still convenient to own a car. But whether you decide to keep your car or let it go, it’s important to consider your lifestyle and the available transportation alternatives so the savings you expect to get out of selling your car won’t be eaten up down the line.

Meanwhile, before you put that ‘for sale’ sign in your windshield, here are things for you to consider:

Repairs

Repair bills eat up most of your hard-earned money. Whether it comes in small streams or in one big hit, repair costs would leave a huge gap in your budget when added up. It’s best to get the opinion of your mechanic when deciding whether or not you’re still getting a good price for your car. Sometimes, though, you need not wait for your mechanic to tell you that there’s something wrong with your ride. If you notice something odd in your car, address it at once and do the necessary repair. Keep in mind that most of the time early detection of damaged parts can mean cheap expense in the long run.

Practicality

If the only reason you’re keeping your expensive sports car is to show off, then that’s enough reason to dump the thing. This attitude would surely pull you to insolvency sooner than you expect. Remember that vehicles are more than toys; you need a car to help you get things done and not just to use for bragging.

Likewise, if you live in a place that has no garage or not enough space for parking, it’s not practical to keep your huge car. You’re better off with a smaller car that won’t take a lot of space.

The best thing you can do to decide whether to keep your car is to make a list of your needs. Out of this list you can determine whether your car is for keep.

Fuel Efficiency

If you had your car for long now, you probably can attest to the difference in gas prices from three years before to today. If your current car eats up a lot of gas, it may be best to switch to a more fuel efficient car, especially if you take long drives often. However, do your research first before deciding on ditching your car. Find out how much it would cost you to keep your car as opposed to buying a new one.

Safety

When it comes to vehicles, safety is of great importance. From the seat belt to the car lights, everything has to be in top shape to guarantee safety on the road. So, when there are components that require repair or replacement in your vehicle, get on top of it right away. Ask your mechanic how much it would cost to bring back your car to utmost safety. As opposed to buying a new car, repair can save you a lot of money and even get a little extra for your car.

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