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[quote=Anonymous][quote=Anonymous]So much for being responsible...

We stagger our cars so no more than one loan at a time.  But we have 1 year left on the current loan and the older car is starting to go.  It will require $1200-$1800 in repairs and has a trade in value of $3k.

Does it make sense to buy a car a year early, get full trade in value and 0% financing. Or, pay for the repairs and try a year later. Assume lower trade in value and who knows if 0% financing is available.

We can swing 2 car payments. We don’t get anything fancy.

Which is the better move? Assume roughly $300/month on car almost paid off and then $300/month on new car payment...[/quote]

OP, no way it's worth it to fix this.  Don't listen to the other people in this thread saying you should fix it.  Once major things start to break, it's all downhill from there.  You fix this then in 6 months you spend another 1k.

Look at it objectively.  Let's say for the sake of argument that nothing else will break even though I don't think this is true.
Your total cost:
$4,000 over the next year to pay off the car + $1,800 to fix the car = $5,800 over the next year.

Or you could simply trade/sell the car for it's $3,000 value and put that into the loan.  $4,000 loan - $3,000 value = $1,000 loan.  Now put $1,000 out of the $1,800 you were going to spend on repairs into the loan and pay it off.  
Total cost is $1,000 and your car.  Now you buy a new car.  Alternatively you can roll the remaining $1,000 loan balance into the new car although I wouldn't recommend that.
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