Boy oh boy, is this bum advice. The cost of that cord is inconsequential.

The cost is not huge, no.  (Though it is a significant percentage of the
cost of that car.)  The _point_ of the advice, however, is not
inconsequential.  Before just throwing money at a problem, it is
wise to actually diagnose the condition.  For example, had I bought
a new cord for the Chicken Wagon's very strange (and multiplex) block
heater system it would have been a total waste of money.  In fact, the
block heater element was burnt out, so a new cord would be useless even
though the old cord was quite obviously a total mess.  The new element
itself came with a new cord.

From the description it's clear that the insulation has worn through after all those years and patching it together to save pennies is nuts. Suppose you plugged it in and suddenly you have 120V AC standing on the car's chassis, just waiting for someone to touch it. Can you spell electrocution?

No supposition about it.  If my advice is followed, there is absolutely
no risk whatsoever, because you've totally examined the situation and
have not done anything that is unsafe.  Nor have you left unexamined
any part of the system that _could_ be unsafe.  If you do not feel
qualified to repair simple wiring, you should not try to repair
simple wiring.   That's a no-brainer.  But if you _are_, why not
save the money for something more necessary?  Advice traded here
is among competent adults who are assumed capable of evaluating
their own abilities and acting accordingly.  Not children.

Do you think that I was crazy to have replaced the three stranded
10ga wires in my home furnace that had oxidized, overheated,
and burned out.  Total cost: nil, I had a roll of suitable wire.
Should I have ordered a new furnace instead?  How do I know that
it won't explode instantly when it's turned on, the old furnace at
least has proven itself to be safe and reliable over 30 years.

Humph.

-- Jim


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