What value point to quit repairing a vehicle?

[04SE]

At what value point, do you stop repairing a car and replace it? For instance, say your car is worth $2,500 but needs a $3,000 transmission. Do you replace the transmission, trade it in, sell it or junk it?

At what point do you consider the car's value to not be worthy of a repair that costs more than the value of the car?

 

[oggb]

I think when the repair > 50% of the value of the car you're probably better off dumping it and getting something else.

 

[GROUCHO MARX]

When you're absolutely sure nothing else will fail in a short amount of time.

In reality, it's all just guesswork, however, if the chassis is bad the decision is easier. Things such as starters and alternators can easily fail after major repairs are done. It makes all the decision making frustrating.

One's ability to pay for a new car usually is the more determining factor.

 

[eljefino]

I think it depends on if the example transmission is a fluke.

If you have something like a dodge minivan or ford panther that will last forever, but needs transmissions on a regular/predictable basis, you won't find a used version *with new transmission* for less than getting yours done.

So my answer is, when rust is gobbling the thing up.

Another good example of "time to dump it" is you have some horrible cancer of wiring harnesses or computer rot that appears that if you fix one thing, another will crop up. I am starting to see year 2000 vintage cars blowing solder joints due to the low lead solder they started having to use. This will be, IMO, "the next big thing" that makes people want to roll clunkers down boat ramps under cover of darkness.

 

[Trav]

I think it depend on the vehicle.
If the car is otherwise in great shape and a transmission would fix it so it could deliver 3 or 4 more years of service than it doesn't matter what it book value is if you like the car its worth it.

If the car is a rat or you just don't like it any more then anything more than a few bucks maybe too much.
Old cars are true individuals throw the book away and forget the value in dollars and concentrate on what kind of service can you get out of the repair.

 

[OtisBlkR1]

there is more to consider than just the repairs themselves, what does this auto do for you ? is it a fuel sipping old beater that youv kept as a DD becouse of its MPG ? could you buy something just as dependable for the same cost of the repair ? how mutch have you already invested in it ? is it paid off ? there are ALOT of vairables in the decision making process. with that said, perfect example: awhile back i sold a 1998 Chevy cavalier, 159,xxx miles on the clock, motor was SOLID, Manual transmission was making funky noises that the shop said was internal and it had to come out for inspection and possable repairs. I had that car for 7 years purchased it for $2,000 from a friend with 90,xxx on the clock it got fantastic gas miliage, HAD ALWAYS BEEN DEPENDABLE. but it was rough, body was beat up, it was a base model, it was a 13,000 car (ish) new.. so should i spend the money to investigate a mystery noise or sell it for cheap and recover some of my initial investment.. you bet, sold it within a week for cheap on Craigslist, fully disclosing all issues and concerns, the kid with the $600 didnt care, IT WAS A RUNNING DRIVING CAR.. case closed.. it all boils down to your own opinions and worth in your own eyes..

 

[Steve S]

Take all the above posts into consideration. Great info guys!!!

 

[Mr Nice]

Quote:
I think it depend on the vehicle.
If the car is otherwise in great shape and a transmission would fix it so it could deliver 3 or 4 more years of service than it doesn't matter what it book value is if you like the car its worth it.


True that, especially if you have taken good car of the car and a $1500 trans will give you another 5 years of trouble free service with no car payments.

 

[crazyoildude]

it really depends we have a number of customers that bring in old vans and pick up trucks to get rebuilt engines and sometimes the cost of the engine is a lot more than the beat up vehicle with very high mileage... We talked about this many times with customers in the shop and one large construction company owner said if i sold this truck in good running shape i could maybe get $900.00 because the body is in bad shape but he said if he puts in a new motor for around $2500.00 and then has to spend another $1000,00 later on that one truck pulls in over $75,000
so that is one example that many people tell me

 

[EricF]

I'd like a new car.. just can't afford a car payment for 5 years.

 

[chad8]

Originally Posted By: JRed
I think when the repair > 50% of the value of the car you're probably better off dumping it and getting something else.


good advise . My mechanic friend has told me many times how dumb some people are by dumping excessive money into junk cars.
Most models of cars have a fairly defined track record of life span.I don't want to argue whether your yugo will last 500000 miles but that concorde is a 1000000 mile car .
I will say that it is pretty easy to objectively access what is worth repairing.
150000-200000 is the normal life span of most modern vehicles with many exceptions , but beyond that point the vehicles value is so low , the cost of repairs exceeds the value.

 

[IndyIan]

I think the complexity of the car is a factor and the availability of good used parts.
Something like my Neon is probably almost always worth fixing as long as the body is good. Parts are plentiful and cheap and the car is relatively simple to work on.
I guess most people get tired of an old car at some point and sell it off to a young punk and move on to something new.

 

[Russell]

I may be facing this with my pampered old 95 BMW. The auto transmission will fail- they all do. Cost at an indy with a rebuilt unit is at least $3,000. Car is only worth 5,000 at the most.

However, It has been one of my favorite cars and I do not want to replace it. So I will fix the transmission and drive it several more years and meanwhile get the wife a newer car.

 

[SLCraig]

Depends on how handy you are entirely.
No trans should be worth $3k because I can buy one used and put it in myself.

But yeah, that would make me get rid of the car for sure if I couldn't fix it myself.

 

[mongo161]

I guess it all depends on how much the vehicle is worth to you.

Take a look at all the vintage cars in Cuba still running from the 1950's. Imagine if parts for these cars were still available to the Cubans for repairs on their vehicles?

 

[OtisBlkR1]

smart man.. no arguement from me on this..

 

[Russell]

Originally Posted By: SLCraig
Depends on how handy you are entirely.
No trans should be worth $3k because I can buy one used and put it in myself.

But yeah, that would make me get rid of the car for sure if I couldn't fix it myself.


$3,000 is really not high to fix a transmission. The BMW dealer wants over $5,000 for this car. Some BMW transmissions for newer cars much more expensive. Used auto transmissions euro are a real shot in the dark. I guess if you have the tools/knowledge you can remove and install a transmission yourself. I sure would need a lift.

 

[MrCritical]

So many things to consider. Replacing the car doesn't have to mean buying new, just a more reliable vehicle. I'd consider either an engine or trans replacement in a vehicle that wasn't a candidate for the other (engine/trans) to fail, or need major repairs in the forseeable future. Providing the body, differential, awd/4wd system, ect was in good shape.

A good example would be if my otherwise in good shape Camry needed a transmission, yeah, I'd do it. If it was a Range Rover, no way.

 

[SLCraig]

Originally Posted By: MrCritical

A good example would be if my otherwise in good shape Camry needed a transmission, yeah, I'd do it. If it was a Range Rover, no way.


That's true, when I think "car repair" I think run of the mill Japanese or domestic cars. I could not imagine trying to repair an older Jag or LR. That would be outrageous, and probably not DIYable. That is one reason I drive Honda, Nissan, Saturn, etc.

 

[Pop_Rivit]

It depends.

Is the vehicle otherwise reliable? Or is it at a point that you'll be facing frequent repairs? Is it otherwise safe to be on the road, or are there looming rust, suspension, tire or other issues that would make the vehicle unsafe to drive?

If there are other issues with the vehicle are you willing to invest the time/money to make sure it's reliable and roadworthy? Or is it time to invest in something newer, since you've probably gotten your money's worth out of it?