The question to ask yourself at this point is this: Can I replace this car with
another car of good integrity for the same amount of money?
In the above example let’s say that you just had the engine replaced 20,000
miles ago and you had the transmission resealed last year. You know the
transmission is in good condition internally because the fluid is clean and there
was nothing more than normal wear material in the pan at the time of the reseal
job. In this case, the car would be a good candidate for repairing versus
replacing.
Now that you know what it will cost to refurbish the car ($3,166.56), take this
figure and divide it by 36 (36 months is the average length of a car loan) and
compare this monthly figure ($87.96) to the average car monthly payment,
which is roughly $380 to $500.
Your choice to keep the car and fix it is obvious if you’re motivated to act
according to what’s best for your budget; however, if you’re just tired of the old
chariot and would like a change in scenery, then you may decide to replace it
even though it will cost you more. That’s the beauty of living in America; it’s
your choice.
A final word about fixing up “old faithful.” A wise salesman once told me,
“Logic rides on the horse of emotion.” Get your logic in line and leave your
feelings and emotions outside the door before making a decision on major
repairs. There is a point-of-no-return when it’s time to retire “old faithful.” That
point usually comes when repairs far exceed the value of the car. Remember
these words the next time you’re faced with this dilemma.
singke
(singke)
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