Is Your Car Worth Fixing
You’re late for work again, and your cars not starting. What are you going to tell your boss this time? Don’t you think they are going to get tired of hearing the same excuse? By the grace of God your car starts, but then, there you are stopped in traffic along your normal commute, only this time the normal situation proves to be agonizing. A orange check engine light appears on your dash. It’s time to ask yourself is your car worth fixing?
Is a Dependable Vehicle Better?
I get it, you want to hang onto your car as long as you can. Because as we all know, not having a car payment every month is fabulous.
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However, are you spending more than $300/month to keep your car running? If so, do the math. At that rate, numbers add up.
Furthermore, the repairs are now getting more frequent and extremely unpredictable. You’re now put in a place that forces you to choose: “Should I buy a new car or is your car worth fixing?”
No need to fear, God’s Wrench is here to help you make the right decision. Simply, follow the guide provided below to better weigh your possible out comes.
Time to Weigh the Possibilities
To make this easy to understand, let’s break this down into simple figures. Because after all, numbers don’t lie.
Start by estimating how much your car is worth in its current condition. Then, figure out how much it would be to repair the broken components. Run the numbers and weigh the outcome.
For example, let’s say your car is worth $3,000 as is, and the repair is $500. Then the new value of your car after the repair is done is $4,000. This means your car is worth $1,000 dollars more and it only cost you $500. In this case, you’re probably gonna wanna go with a repair.
However, if these repairs and break downs are becoming a common occurrence is the car with the headache?
On the other hand, if that initial cost to repair your car was closer to $1,000, and the value of the car increased to only $3,500 with the repair, you’re likely gonna wanna go with selling the car.
The reason being, if you were to sell your car before the repairs and add it to the $1,000 you were going to use to repair the car, you would have a total of $4,000. As opposed to a repaid car that when sold only earns you $3,500.
Is Your Car Worth Fixing Yourself?
Time needed: 15 minutes.
The step by step guide to quickly answer the question is your car worth fixing yourself?
- Figure out the problem
Diagnose what’s wrong with the car by using an OBD2 Scan Tool, visually inspecting, feeling, or listening. For DIY repairs, your computer is your friend. In addition to providing you with the cheapest place to buy car parts and tires, we also have a collection of car how-to guides via our YouTube channel. These videos will help you learn how to fix different parts and systems on your vehicle so can drive confidently on the road.
- Figure out the cost and time needed for the repair.
Is the repair quick and cheap or hard and expensive?
- Do I have the necessary tools and space to repair the car myself?
Once you understand the problem determine if you have the proper tools required to complete the job. If not consider buying the tools. This might prove to be a cheaper option than sending it to the shop.
- Is the amount of time I’m going to spend doing it myself worth the money I’ll save?
Is it worth your time and effort. Ask your self how much are you willing to save in order to do something yourself.