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Reply to "How to decide between repairing or replacing car?"
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[quote=Anonymous]My car is similar age and mileage and I would fix it except I wouldn't have bought a car 10 years ago without a backup camera. My rough thinking would be about $24k for the same car divided by 60 months is $400 without any interest, so I'd only need to expect 4 months out of it to make it worth it. Even if you divide it by 120 for ten years that you've kept this one, that's less than 8 months. I realize this is a super rough calculation that ignores all kinds of things like depreciation and interest and higher taxes on the new car, plus I wouldn't be financing a new car, but this is what I do back of the envelope. I also take the price I paid 10 years ago plus large repairs so far and see how much I've already paid per month and compare the repair to that.[/quote]
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