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Reply to "Repair or Replace Car?"
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[quote=Anonymous]Here is how I would approach it: 1). What's the repair for? Is it essential of just recommended? Could you get it done (or partially done) somewhere cheaper? Is it possible to sell the car without doing the repair? 2). I would not pay off a 0% loan early. There is no financial reason to do so. While it may "feel better" to have the payments gone, the better course is to just wait and pay them on time. 3). You're at the time of year where there may good deals on cars and competition between dealers. I'd consider shopping around and seeing if you can negotiate a value of trade in for your Camry. It may be you get more than $1500 credit. However, as PP notes, you'll likely get the most value selling privately. But selling privately requires time and patience - something you may not have right now. 4). If you really plan to buy the bigger car in a few months, I would cap any repair bills at the equivalent of one months new car payment (approx 400?). [/quote]
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