I put $500 worth of labor and parts into my car today. It's a 2001 Saturn L200 with 80400 miles on it. Then I learned that it needs over $3000 more of labor and parts to keep it on the road. Do I fix it? Or trade it. The book value of the car is $4500 on a good day, and in its present condition (needing all of that work) it's perhaps worth 2500.
Thoughts, anyone?
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2 comments:
Well, I think you've answered your own question - it's going to cost more to fix it than it's worth! Though I suppose that would still cost less than a new car.
Yeah, that's the thing. A replacement vehicle would cost more.
Of course, if I have the work done, I suppose it will be the replacement vehicle.
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