A modern lens will have less flare. You might look through yours and see if there is any haziness inside, a lot of the old Collapsible Summicrons fogged up with age and this will increase flare and reduce sharpness. If so, it can be cleaned for much less than a new lens costs. I haven't shot the collapsible, my Summicron is an early 1980's model with focus tab (same optical design as the current Summicron 50, but the new one has built in lens hood and no focus tab). But, Many people here do shoot the collapsible and love it. If its hazed up, I'd get it repaired.
Another thing to look at is the front element, he coatings on the collapsible were very soft and most of these lenses have scratches on them, some quite severe. Minor scratches or cleaning marks wont affect the image but a lot of them or deep scratches will increase flare and reduce sharpness. That's harder/costlier to fix and I'd buy a newer lens if that is the case.