would u pay 1k to fix a 10 yr old car worth 4K?

General » General Discussion

Site Notices

[ARCHIVED THREAD] - would u pay 1k to fix a 10 yr old car worth 4K?

Posted: 2/1/2011 10:22:04 AM EDT

I could buy a new car but i just see it as a horrible waste.

But 1k for a 4K car would really hurt...

Posted: 2/1/2011 10:23:39 AM EDT

[#1]

1K dollars is a lot cheaper than another car.

Posted: 2/1/2011 10:23:42 AM EDT

[#2]

Depends on whether, or not, I WANT the vehicle. I need to drop around 2k (total) into my 89 F150. I plan on doing it.

Posted: 2/1/2011 10:25:47 AM EDT

[#3]

depends on the car and what is wrong with it. Im my honda I have dropped over 1k into cars worth 2k because it will run for another 150 thousand miles with the jap import swap. Thats a lot cheaper than a new car.

Posted: 2/1/2011 10:26:31 AM EDT

[#4]

Pics?

Posted: 2/1/2011 10:27:41 AM EDT

[#5]

Absolutely.

You go buy a "new" car and you will still be dumping a bunch of money into it. To keep a warranty valid you have to pay hundreds or thousands just for the dealers troutine services.

Posted: 2/1/2011 10:28:13 AM EDT

[#6]

Quoted:
I could buy a new car but i just see it as a horrible waste.

But 1k for a 4K car would really hurt...

What would your car payment be?

$1000 of maintenance is probably 3 car payments for me...so if that $1000 keeps the car running for another 3 months, that's a break even.

however, if you regularly need to drop $1000 into that car, it's time to cut your losses and move on.

Posted: 2/1/2011 10:28:49 AM EDT

[#7]

Quoted:
1K dollars is a lot cheaper than another car.

good point, your avatar scares me!

Posted: 2/1/2011 10:29:02 AM EDT

[#8]

I've put 4 or 5k into a car worth 4k that I bought for 2.5k. Do whatever suits you.

Posted: 2/1/2011 10:29:11 AM EDT

[#9]

Makes sense. If you fix it, its worth 4k. If you don't, its worth crush value; that's like $200 around here. Hell, even if you fix it and sell it you'll come out ahead.

Posted: 2/1/2011 10:29:39 AM EDT

[#10]

Depends on mileage and the type of car.

A high-demand car like a Civic or a WRX or a Mustang? sure.

Something nobody wants like a Saturn sedan or a Daewoo? wholesale it while it still runs if it does.

$1000 sounds like a major service, is it timing belt time?

Edit- Yeah if the car is actually broken you have to fix it to get the residual value out of it, broken cars are impossible to sell.

Posted: 2/1/2011 10:29:57 AM EDT

[#11]

At some point it is stupid to keep pouring cash into a beater.

It really depends upon the condition of the car after the repairs.

If you foresee dropping another $1k into because of some other iffy component, then no.

Posted Via AR15.Com Mobile

Posted: 2/1/2011 10:30:17 AM EDT

[#12]

Last year I put $3,500 into my 10 year old truck that has a value of $5,000. For me it was worth it because I have maintained my vehicle and it is still in pretty good shape. I have had very few problems out of it so I decided to keep it.

Posted: 2/1/2011 10:30:40 AM EDT

[#13]

Yep, did it many times.

Posted: 2/1/2011 10:30:45 AM EDT

[#14]

We dumped about $12,000 into an $800 dollar car...but it's cool..

..It's a 1967 MGB.

Posted: 2/1/2011 10:31:11 AM EDT

[#15]

Just depends on how much you like it.

Posted: 2/1/2011 10:35:43 AM EDT

[#16]

Probably. My camry is probably only worth 2-3k but since the engine is still A-OK it made sense to replace the struts and do the timing belt. When compared to spending 12k on a new car, it's a no brainer, especially if your 1k will get you another 20+ thousand miles out of the car.
Now if it was something re: fixing a problem with the engine, where I may not be sure if the car will keep going after the repairs...then fuck it, the car is junked. But in the case where it's a repair or maintenance that needs to be done, will cost a grand, but gives me 20, 50, 100k more miles...well worth it
People these days get way too far into the habit of just throwing away anything that needs repairs/maintenance and buying a new one. That works fine for alot of things, but if you treat your car like that, you'll be wasting a LOT of money.

Posted: 2/1/2011 10:37:26 AM EDT

[#17]

Quoted:

1K dollars is a lot cheaper than another car.

Posted: 2/1/2011 10:37:41 AM EDT

[#18]

Because the vehicle is paid for !?!?

Posted: 2/1/2011 10:39:25 AM EDT

[#19]

One month in payments and insurance will probably put you near 1k, after that you will only have 70 some months of payments and insurance. 1k ain't shit.

Posted: 2/1/2011 10:39:56 AM EDT

[#20]

what will it cost to replace it?

Posted: 2/1/2011 10:43:18 AM EDT

[#21]

Yes, it's almost always much cheaper than buying a new "used" car, which you'll then have to pay another sum to fix up. At least once you've fixed your used car, you'll have a car you KNOW is reliable (assuming you're taking care of EVERYTHING).

Posted: 2/1/2011 10:44:14 AM EDT

[#22]

Hell, you would probably lose 4 grand driving a new car off the lot.

Posted: 2/1/2011 10:45:19 AM EDT

[#23]

Fix it.

Posted: 2/1/2011 10:48:27 AM EDT

[#24]

I'd pay it if I couldn't find a better car for $1000 plus whatever the value of the current car is in its current condition.

Posted: 2/1/2011 10:48:47 AM EDT

[#25]

I just paid $1100 to have my 1993 chevy Z71 trans rebuilt. I got some heavy duty parts thrown in. My trucks not worth 3500 bucks maybe. But everything still works, 350 runs great. What am I gonna do scrap it and buy a 20k truck? hell no it's paid for!

Posted: 2/1/2011 10:50:07 AM EDT

[#26]

Quoted:

Quoted:

1K dollars is a lot cheaper than another car.

good point, your avatar scares me!

It comes down to cost of ownership.

If the car has been solid, but you need to stick 1k into it to keep it running solid than it is worth it.

You can easily spend much more than 1k in car payments on a new vehicle, and not come out much further ahead.

If it were me and I was happy with the vehicle I had, I would spend the 1k.

Posted: 2/1/2011 10:53:42 AM EDT

[#27]

We did.

1k on a '98 Altima, 125k miles, we use for local trips.

We've maintained it, garage it at night and know it's in good shape for many more miles.

Posted: 2/1/2011 10:56:56 AM EDT

[#28]

What kind of car? If it is USA-built car, save your money and junk it. I tried to repair 2 cars twice, and wasted $3,000; those CARs(for some ARFOMmer who comes up with my TRUCK has gone 500,000 miles) are pretty much trashed by ~150,000 miles. Now if can't afford a new car, then I would definitely try to repair it.

Now if it is a more reliable car, ie Honda etc, without hesitation I would go for it.

Posted: 2/1/2011 11:01:33 AM EDT

[#29]

Ask yourself how often is this vehicle going to need 1000.00 repairs?

If it is every other month, then probably no.

Posted: 2/1/2011 11:04:09 AM EDT

[#30]

I paid $1800 one time to fix up my 1985 Toyota Truck, that was over 10 years ago. Truck wasn't worth $1800 hardly, but it saved 10 years or 120 months of new car payments

Posted: 2/1/2011 11:08:08 AM EDT

[#31]

I have a rule about non-earning assets: pour as little of your money into them as possible.

My rule for vehicles is to buy quality, slightly used; let somebody else take the hit of driving a new car off the lot. Then I try to sell them while they still hold some re-sale value, but before they begin to nickel and dime me. Usually this is around 80-90k in mileage, but not always.

Good luck to you!

Posted: 2/1/2011 11:11:40 AM EDT

[#32]

$1K could be little more than a new set of tires, and new Brake Pads and Rotors.

Not unreasonable at all.

BTW, I drive a Jeep, so what I consider a reasonable price for a set of tires is a bit higher than the owner of a Honda Civic.

Posted: 2/1/2011 11:12:47 AM EDT

[#33]

No. In my experience once you start having problems with a vehicle, you will contimue to have problems with it. I refuse to through good money after bad.

Posted: 2/1/2011 11:17:04 AM EDT

[#34]

I put $1600 into my $4000 car back in November, and successfully had it totaled for me in January.

So, yes... it's worth putting the money in versus spending a ton for new... just watch out for idiots on the road.

Posted: 2/1/2011 11:23:55 AM EDT

[#35]

It's pure choice if it fits your pocket book then that's all that matters at the time.

Another strategy to consider is buy a decent used car for 5 grand,change fluids,change belts,change tires install new breaks,and tune up. drive it for 2 years. Then do it again... Sell, buy etc.etc.

Posted: 2/1/2011 11:25:48 AM EDT

[#36]

How much do you have to put out towards another car?

What I've learned about buying cheap cars (~2 grand and under) is that I usually just buy myself a job. A very expensive job.

If you dont have much money to put out for another car, I'd say suck it up and put the grand into your car. At least you know what you've got with it once you repair whatever it is that needs repairing.

Posted: 2/1/2011 11:31:52 AM EDT

[#37]

Quoted:
Depends on mileage and the type of car.

A high-demand car like a Civic or a WRX or a Mustang? sure.

Something nobody wants like a Saturn sedan or a Daewoo? wholesale it while it still runs if it does.

$1000 sounds like a major service, is it timing belt time?

Edit- Yeah if the car is actually broken you have to fix it to get the residual value out of it, broken cars are impossible to sell.

Not impossible, just slow to sell. Recently faced with the decision to replace the engine in my 95 4runner with 292000 miles or get rid of it. It took a while but it sold on craigslist for 1100 dollars. Not running and partially disassembled.

Posted: 2/1/2011 11:34:10 AM EDT

[#38]

Rule of thumb is never go over 50% of car's value.

If it is less than 50% of the value of the car to fix it, then fix it.

Over 50%, dump it and move on.

Posted: 2/1/2011 11:43:11 AM EDT

[#39]

Quoted:
I have a rule about non-earning assets: pour as little of your money into them as possible.

My rule for vehicles is to buy quality, slightly used; let somebody else take the hit of driving a new car off the lot. Then I try to sell them while they still hold some re-sale value, but before they begin to nickel and dime me. Usually this is around 80-90k in mileage, but not always.

Good luck to you!

+1 - I'm just at this point with a vehicle at 95K and starting to consider a slightly used "upgrade" that I'll pay cash for and keep until similar mileage.

Posted: 2/1/2011 11:46:28 AM EDT

[#40]

$1000? That's about 2 or 3 car payments.

Posted: 2/1/2011 11:48:33 AM EDT

[#41]

Think of it in number of payments. $1k is probably 2-3 months of payments. Decide from there.

Posted: 2/1/2011 11:55:47 AM EDT

[#42]

Couple years ago i put $1500 with me doing all but the machine work in a 20 year old heep. Hoping it last another 20.

Posted: 2/1/2011 11:57:30 AM EDT

[#43]

In November and December, I put over $1,000 into my 1998 F-150 that has 240K on the clock. It was a great investment. I plan to get another 12 years out of it.

[ARCHIVED THREAD] - would u pay 1k to fix a 10 yr old car worth 4K?

General » General Discussion

Warning

Confirm Action

About AR15.COM

Stay Connected

Newsletter

Contact Us