Billy Cox wrote: > I know this is the conventional wisdom, but it is based on a faulty premise > - namely that the resale value is the main indicator of your car's value. In > reality, the value of your car is based on it getting you from point 'A' to > point 'B' reliably and safely. > > Instead of comparing the cost of the repair to the market value of your car, > you should compare the cost of the repair to what you reasonably expect to > pay for a newer vehicle in one year. > > So if your choices are a $1,000 repair on a $1,500 car or spending $3,600 (1 > year of car payments at $300/month), it's already a no-brainer that you > should repair the car, but let's consider other expenses. In one year, your > paid-off (1998) car's value isn't going to go down much, but your newer car > could lose 20-40% of its value. You also have expenses related to buying a > newer car, tax title and license, as well as insuring the new car. > > If one year of repair expenses is comparable to the cost of buying and > owning a newer car then it makes sense to buy a newer car if only for > reliability's sake. > > The conventional wisdom is really just an excuse buy the new car you really > want before you really need to, and no car dealer is going to tell you > anything different. Retroactive +1!
I said it first but I concede you said it more thoroughly. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;192386516;25150098;k Archive: http://www.houseoffusion.com/groups/CF-Community/message.cfm/messageid:259400 Subscription: http://www.houseoffusion.com/groups/CF-Community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
