Is it wise to keep vehicle?
I have a 2000 Ford Taurus station wagon the value is $1600 I was foolish to finance purchase for $6500 two years ago now the car needs around $1700 in repairs I need new abs modulator a new brake caliper new struts and tire rods and hub bearing is it worth putting money into or should I let the car go to the junk yard not to long ago I had to repair the windshield and get new rear brakes financially I can't afford to get the repairs done I'm torn because I don't want to buy a new car and finance the purchase but I'm tired of this car
If you can't finance the repairs then you have to let it go - its a matter of time before the car become unusable anyway.
sell it, try to save some money and buy a used car for the time being.
You have to weigh how much it means to against how much it will cost to repair.
First, forget the history. How much you paid for the car no longer matters.
The considerations are: how much will it cost to repair, how likely is it to need more repairs, how much will it cost to replace the car?
The second question requires a guess, unfortunately. The third question means how much the replacement car costs minus how much you can get for the current one, which is more guesses, plus you have to guess whether $1700 in repairs adds $1700 to the resale value.
Boy, you really are clueless.
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