Comments on: Are Old Cars With Expensive Repairs Worth It?

By: debt debs

debt debs — Thu, 07 Aug 2014 21:35:05 +0000

We replaced one of our old cars when the repairs were costing thousands of dollars and not even just once per year. As you said, we felt it was costing us more than a car lease, but looking back now, I wonder how bad it really was. Of course, there’s always the concern that after you have just done a bunch of repairs it should be good to go for more than another year. Like, when do you cut it loose? You really have to do the math and also maybe willing to gamble a bit on the old car and hope the odds are in your favour. Worst case is it probably won’t cost you too much more than a car lease, so that’s one way to look at it and in favour of taking the chance. The car we got rid of was a gas guzzler and we got a 5 speed manual transmission in it’s place.

By: StaplerConfessions

StaplerConfessions — Thu, 07 Aug 2014 00:48:49 +0000

I think our oldest car is getting to this point, too. It’s a ’99 Corolla and we use it just to get to and from the train station. But, like you said, the repairs are always less than replacing it — and we don’t have the $$ to buy a new-to-us car without a loan. We plan to get a Prius station wagon next, which also can make the decision difficult because we factor in how much we’ll save on gas with a more efficient vehicle.

By: ImpersonalFinance

ImpersonalFinance — Thu, 07 Aug 2014 00:33:02 +0000

BudgetBlonde ha! actually a jeep (never needs anything) and 2005 s60 which is ridiculous. We had a butt ton of repairs to make when it hit 100k miles, and honestly it seemed like the second one thing was fixed, another went wrong, but since we got everything taken care of, it’s been smooth sailing for the past 40k miles.

By: BudgetBlonde

BudgetBlonde — Wed, 06 Aug 2014 23:26:42 +0000

theFinancegirl It’s true. We’re definitely going to hold off for a little while!

By: BudgetBlonde

BudgetBlonde — Wed, 06 Aug 2014 23:26:24 +0000

Beachbudget 6k is a lot to spend in one year -that’s a huge bummer :/

By: BudgetBlonde

BudgetBlonde — Wed, 06 Aug 2014 23:26:05 +0000

BudgetforMore It definitely is!

By: BudgetBlonde

BudgetBlonde — Wed, 06 Aug 2014 23:25:50 +0000

ImpersonalFinance You make a good point. What kind of cars? Because both of mine are volvos and even the littlest part is so freaking expensive. They were hand me downs – I’d never pick one on my own.