Doing repairs worth more than the car..do you?

[Craig in Canada]

Serious rust and corrosion is, IMO, the one factor that can REALLY kill a car. You can't make any arguments about repair cost vs. blue book vs. depreciation and replacement car payments when there's a hole through your floor or if your strut tower has actually ripped out.

If you've got heavy, structural rusting it might be time to wave the white flag for that reason alone. No one will want to buy it, mechanics won't want to work on it and they'll start causing a lot of collateral damage when trying to do repairs etc... It can be a tough call.

Up here Krown Rust Control does treatments for about $100/year. Krown or something similar should probably be a part of any long-term owner's plan if you're in the rust belt.

 

[daves87rs]

Originally Posted By: Craig in Canada
Serious rust and corrosion is, IMO, the one factor that can REALLY kill a car. You can't make any arguments about repair cost vs. blue book vs. depreciation and replacement car payments when there's a hole through your floor or if your strut tower has actually ripped out.

If you've got heavy, structural rusting it might be time to wave the white flag for that reason alone. No one will want to buy it, mechanics won't want to work on it and they'll start causing a lot of collateral damage when trying to do repairs etc... It can be a tough call.

Up here Krown Rust Control does treatments for about $100/year. Krown or something similar should probably be a part of any long-term owner's plan if you're in the rust belt.



+1

 

[jim302]

For me, it depends on the general reliability of the car and the purpose.

If something expensive fails but the car has generally been running fine, I would probably fix it, tven if it costs more than the car is worth. Car payments are not fun and a used car of unknown history is a much worse option than one where I know everything has been taken care of. If I feel I can rely on the car after the repair, I would probably go for it.

If something major fails while other major or minor things have been frequently failing and the car is no longer reliable, it is time to say goodbye.

 

[Whimsey]

Originally Posted By: jim302
For me, it depends on the general reliability of the car and the purpose.

If something expensive fails but the car has generally been running fine, I would probably fix it, tven if it costs more than the car is worth. Car payments are not fun and a used car of unknown history is a much worse option than one where I know everything has been taken care of. If I feel I can rely on the car after the repair, I would probably go for it.

If something major fails while other major or minor things have been frequently failing and the car is no longer reliable, it is time to say goodbye.


+++1

So far I've kept my bought new 1996 Contour running like new. Used it's not worth much, but to me it's worth a lot. And to spend some money here and there to keep it running great is a lot cheaper than buying a new vehicle. If it becomes a money pit then it's time to ditch it.

Whimsey

 

[daves87rs]

I could say the same thing about my Cavalier....not worth much (maybe 4500 tops?), but it is still in very good shape for it's age. I credit that part to the lack of salt it gets...


But, I'd have np problem dropping money into this one...

 

[otis24]

Originally Posted By: jim302
For me, it depends on the general reliability of the car and the purpose.

If something expensive fails but the car has generally been running fine, I would probably fix it, tven if it costs more than the car is worth. Car payments are not fun and a used car of unknown history is a much worse option than one where I know everything has been taken care of. If I feel I can rely on the car after the repair, I would probably go for it.

If something major fails while other major or minor things have been frequently failing and the car is no longer reliable, it is time to say goodbye.

I agree with the above. My 2005 Dodge Grand Caravan was purchased new by me. It has 125k miles. Replaced the batt, alt and water pump back in November. Just had to replace the rack and pinion for $1200. I owe just under $8k on this vehicle (about 18 more payments)./ I need to keep this vehicle unti it is paid for, and then some.

 

[TomYoung]

With respect, I would like to suggest that buying a car on a loan that last six or seven years and counting on 150,000 miles is pretty questionable. Fully recognize that I don't know your complete set of circumstances. Did you lease first and then get a loan for a buyout?

 

[otis24]

Nope, purchased first. Circumstances were different back in 2005 than they are now. Wasn't as knowledgeable as I am now. While financing a vehicle for seven years is questionable, I don't question keeping the vehicle for 150k plus miles.

The reason I'm in the negative equity situation that I currently am in was that I was (erronously) taught that vehicles were worn out after 100k miles and I average about 20k miles per year. Consequently, I tended to trade too often with negative equity, putting me where I am today.

I've routinely read here and elsewhere of people who have gotten 200k plus miles from their autos with just routine or mimimal maintenance. Since I purchased mine new and have maintained it well, I do not think it unreasonable to expect 150k-200k miles from the engine and tranny. It was the desire to get the most from my vehicles that led me to this site many moons ago.

I use synthetic oils with moderate OCI's (5k-6k). The tranny has been flushed twice and for the year or two that I owned a camper, it was further protected with a tranny cooler that I added on. Serpentine belt and plugs replaced as needed.

I do not expect to operate my vehicle trouble free. Expecting a well maintained engine and tranny to last 150-200k should not be unreasonable. As a car salesman (LOL), I see too many people trade their autos and up their payment $100 or more per month because they can not afford a $1000-$1500 repair on an otherwise good automobile.

 

[CharBaby]

I have put money into a vehicle that cost more than the car was worth. But, I did it over a period of about 18 months. The car was in very good shape although parts were waring, that's all!

The car wasn't worth anything to anyone else but me, there was no more resale value/trade in value and it served my purpose just fine. I didn't have to carry collision insurance any longer, just liability. The car ran well, the mpg was very good and it was gerat for around town which is how the car was used and it was used everyday.

I didn't have to shell out money for a down payment on a new(er) vehicle, pay taxes on another vehicle and again involve myself with higher insurance/interest rates. Factor in these dollars and, driving a vehicle into the ground makes sence. I have done this many times in my life.

But, doing most of the work myself made it all worth while. Even a little painting/body work. I have never had to put in, oh let's say...$1000.00 all at once. Few hundred at a time over a period of months. Kinda like car payments! But the work I'm talking about was really brakes, tires, alternator, exhaust parts etc. No major overhaul, just the nessessary stuff!

Sometimes a person can get bit by buying a used car cheap and, having to put in more money than we paid for the car, just to keep it running. Problem is, if you don't do any work on your own vehicle, your at the mercy of the mechanics. Learn from experience and don't keep doing these things all of your life. Let this be a lesson...It's good learning experience although expensive. This is how we grow/learn/age.