+1 for no car payments! On Wed, Apr 30, 2008 at 11:44 AM, Billy Cox <[EMAIL PROTECTED]> 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. > > > > > -----Original Message----- > From: Scott Stewart [mailto:[EMAIL PROTECTED] > Sent: Wednesday, April 30, 2008 10:28 AM > To: CF-Community > > > Subject: RE: when to ditch a car? > > > Go to KBB.com, (Kelly Blue Book) and look up the approximate value of the > car. > > Compare that to what you're spending on repairs. If it seems out of line, > it's time for a different car. > > Check out Carmax, I've had good luck and found a couple of good deals. > > PS: sounds like either the timing is off, or a bad spark plug/cable. > > -- > Scott Stewart > ColdFusion Developer > > SSTWebworks > 4405 Oakshyre Way > Raleigh, NC. 27616 > (919) 874-6229 (home) > (703) 220-2835 (cell) > -----Original Message----- > From: Paul Ihrig [mailto:[EMAIL PROTECTED] > Sent: Wednesday, April 30, 2008 11:21 AM > To: CF-Community > Subject: when to ditch a car? > > last week 300 bucks for an oil change and replace serpentine belt 2 days ago > driving home almost 60 miles from work, and engine light starts blinking car > stutters on high way and starts to back fire... > > guess i blew a shock plug. > they have to drill it out. and re do weiring. 450 bucks > > 98 VW Beetle > 138k miles > > tried to buy a smart car today, but they are back ordered from April 2007... > i hate money, and dont care for cars... > > > so will drive beetle till it explodes again. > > > > > > >
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