Should I sell my current hybrid that needs repairs and get a non hybrid or fix my car up?
My hybrid looks like it could need anywhere between 1500 and $4,000 in work. It has 170,000 miles on it 2008 Toyota.
Half of me wants to invest the money and see if it can go to 300,000, as it is a nice car with leather and a moonroof, and I can't find anything like that for 4,000… Plus it is paid off.
The other half of me wants to trade it in because I would have a hard time selling it if it needs repairs… I could probably get 2000 for it, put that 4000 toward a used car, and then Finance another 5000…
I already see a 2015 Ford Fiesta with only 10000 miles on it for $10,000.
A 2015 Kia Optima for $10,000 with only 60,000 miles.
And a 2008 Lexus 250 for the same price but it has 116,000 miles such a nice car but I think I would be foolish to get this one even though it's super nice…
My biggest fear is that I will repair the hybrid and then have other issues come up down the road although it is a very sound vehicle.
What should I do! What would you do?
KEEP THE ONE YOU HAVE NOW… They run better when their paid for.
The last I heard it was 2008 Camry Hybrid with a Hybrid System warning light and VSC (if I understand correctly) light. If it is indeed a VSC light it will come on whenever the Check Engine light or Hybrid Warning comes on.
Get an actual diagnosis - the dealer is likely to be your best bet unless there's an independent Toyota hybrid specialist in town. You can also retrieve the codes with any OBDII CAN reader. Right now you are in the dark… It could be as simple as a bad 12V battery (by far the most common fault with Toyota Hybrids) or as bad as a burned up MG2 in the hybrid Transaxle (very rare in the 2004+ hybrids.
What could you sell the car for AS IS today?
What could you sell it for after repair?
If the difference between the 2 numbers is more than the cost of repair, it makes financial sense to repair the car.
Otherwise, it makes financial sense to sell it as is.
Of course, money isn't always the only consideration. If you LIKE the car, that influences YOUR choice.
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