For me, if it’s more than half the value of the car, then it’s time to take a serious look.
I turn my own wrenches, so that cost is almost all parts, no labor, which means that serious repairs are still “in budget” and worth doing.
E.g. A complete suspension rebuild on my wife’s Volvo XC. Shocks, struts, front and rear springs, front and rear spring seats, strut bearings, ball joints, control arms, inner and outer tie rods. Parts cost, $1,500. Alignment $150. Almost the value of the car. It’s a 2002 with 265,000 miles on it.
Worth doing? Absolutely.
That’s two payments on a new Volvo.
It also got a timing belt, tensioner, and pulley, new rear brakes, three engine mounts, a CV boot repair, hood struts, oil change, filters, transmission D&F and some rust mitigation on the rear control arms while it was up on the rack. All due.
That brought the total to just over $2,000 in parts. Roughly $2,200 total. That’s a big bill for most folks.
Still worth it. She has a tight driving, good car that runs perfectly and looks good. For $2,000. If we get a couple years more life from the car, then it was a bargain.
I’m always amazed by the thought process of “what!? A thousand bucks to fix it? That’s ridiculous!” Followed by the rationalization of spending 40 or 50 THOUSAND on a new car. The interest alone on the new loan was more than the repair. Add in taxes, depreciation, insurance and the decision made no sense.
But people think they’re “saving” on the repair by avoiding it.
M’kay....