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Fix the Car or Dump It?
There are times when you have an older car and are faced with the choice as to what to do with it. Do you dump the car or do you fix the car? Maybe it’s a transmission Riviera Beach issue or another very expensive issue that brings you to the point of no return. There are several points to ask yourself to determine whether or not to fix it or dump it for parts. Before you make any rash decisions—take a look at what you need to know.
Is a blown transmission always a signal to dump it?
In the comparison yes and no—if we couldn’t confuse you more. Well, here is what to look at. Buying a brand new car would be an option. You could be using the money that it would take for you to fix it and put a down-payment for it. However, how does that weigh up against the car-payment itself. We would say pretty badly. So, with that plus fully comprehensive insurance is a bigger ongoing bill than a one-time repair—even a $3000 tranny.
Why you may choose a new car instead anyway:
Well, just because you invested a lot in the pricey repair—that doesn’t mean all is said and done. A used car could have you repair shop hopping and that may not be as cost-effective. At least a new-car is under warranty and if you want to be extra sure—it would be wise to get an extended warranty. A new car is less likely to have a repair for maybe years. If you have decent credit you may be able to have a better payment. If you have a lot of money saved—maybe you could put it down on a car that you can pay off in a year and not 5 or 10.
This is all relative to the person in the situation. It depends on the budget you have—if any. It depends on the wear and tear of the car as well as your dynamic.