Also something to consider.The reliability charts are based on responses on hundreds of thousands of vehicles from our latest Annual Auto Survey. I'm typically a lurker not a commenter, as I'm certainly not as well versed in personal financial matters as most who frequent this sub, but I hope this was helpful in some way.Įdit: Considering the current damage to your car (cracked windshield, etc.), you may be hard pressed to get the exact Blue Book value for it if you fix it, even in a private sale. I took collision off my truck because to me it wasn't worth the extra coverage, and that saved me about $400 a year. You may also want to check your insurance policy, and see if there's anything you can alter/remove that can help your budget in the long run. How inconvenient is it for you to not have a car? Are there are any carpooling possibilities in that event, public transport, or are you virtually stranded? If they follow the same trajectory, your decision is easy. What's most affordable? Compare that to what's most important to you. If you got a new car, consider what would change in your budget (gas, insurance, loan payment, maintenance) versus fixing and keeping your Vibe (gas, current insurance, no loan payment, cost of fixing and general maintenance). So, my suggestion would be to run the numbers. Your situation, I'm sure, is a bit different. It's a 4x4, great in snow, and with the impending shitty winter it was well worth it to have it fixed considering the number of miles I travel and its reliability over my ownership. This is the second major fix it's had in the last four years, the last being a fuel pump last summer (at around 180k miles). The value of the truck is arguable, between 1k and 4k. Got it fixed at a shop for $600, paid in cash. Got my cousin (mechanic by trade) to take a peek at it, and diagnosed a leaking (spewing) water pump. Two days before Thanksgiving, it was acting funny. I drive an 02 Chevy S10 pick-up, just crossed the 198k mark and I commute 300-500 miles a week. Is the car reliable enough to continue driving? Have there been any other major mechanical failures recently and/or ever?Īre you more interested in protecting the value of the car, or keeping your budget manageable (taking on a new loan, paying for the fix, etc.)? Having been in a similar situation just a few days ago, here's my hay penny on things to consider: That being said, I'm not terribly fond of taking on another car payment so soon after just paying this one off.Įdit: I've been offered a private interest free loan to pay for the repairs to my car, as well, which would be a much smaller commitment, but no way to build my credit of course. I pull in approximately $2800 each month before tax. I don't currently have many other huge financial obligations - I'm going to be starting to rent an apartment early in the new year for hopefully less than 500 a month, I have about 250 in student loans each month, along with the usual grocery, mobile and miscellaneous bills each month. My question is, is it even worth it for me to pay almost 1/4 of what it's worth in a private sale when it's not broken to get the clutch fixed, when the car itself is likely to experience more and more mechanical breakdowns over the next few years because of age and mileage? Should I try to sell privately, take what I can for trade-in value and use that as a down payment on another car, or fix it up and drive it into the ground in a few years? It has only a few other more minor problems, among which are a faulty air conditioning motor, a cracked windshield, and some interior damage. Trade-in value is no more than $3000, which I likely wouldn't get because if my recent mechanical breakdown. The Kelley Blue book private sale value for this car in fair condition is approximately $4500. The clutch went out over the weekend and the average quote I've gotten to fix it is around $1200 I own a 2004 pontiac vibe, manual transmission Here, please treat others with respect, stay on-topic, and avoid self-promotion.Īlways do your own research before acting on any information or advice that you read on Reddit. Get your financial house in order, learn how to better manage your money, and invest for your future. Banking Megathread: FDIC, NCUA, and your cash.Private communication is not safe on Reddit. Scam alert: Ignore any private messages or chat requests.
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