Cars- if you needed a new one or an expensive repair, which would you choose?

It depends on how old the car is, how many expensive repairs it has already had, etc.

Nothing has really ever been wrong with it. I’ve replaced the O2 sensor and the windshield, other than that nothing except the normal tires and a door once when I got hit.

It’s a 2001 I bought brand new and have driven carefully, although perhaps a little faster than I should…lol

You know it could cost more for the rebuilt motor and installation, than the car is worth.

I always go for the option that allows me to save the most. Yeah, it’s nice to have a big birthday present and all, but what kind of savings do you have for retirement? Unless I had a lot of money in retirement savings, I wouldn’t choose to spend on a new car. I go for the most reliable, least expensive transportation I could round up.

But if you must have a big present, then get a new car. It should make you feel good for a year or so.

@wundayatta Yeah, I know…my Catholic guilt is probably not going to let me get a new car until the medical bills are paid off, but I’ve been paying for 6 years now on one and only have $900 more, then about $1k for the seizures this year. Then about $4k for overpaid unemployment (they say he shouldn’t have claimed after his seizures since he could have found light duty, which wasn’t available at his job.)

For retirement I only have about $20k in my 401k, but I don’t plan to live that long. I smoke and my mom and gpa both had cancer, so I should be okay. I really need to pass first so my husband is taken care of anyway….lol

It really depends on how much a rebuilt motor costs. For an ‘89 Golf or fourth-gen Civic, you could get a new motor for under $500, and swapping engines in a Golf is so easya drunken monkey could do it in an afternoon. (A qualified VW mechanic with an engine hoist could do it in under two hours!). Of course, getting one from a dealer it’s likely to cost at least $4000 installed, which would not be worth it, so you have to get a little resourceful. I got a good deal on a transmission from a junkyard; it was pulled from a car that was rear-ended.

But honestly, it may be better to get another car. I’ve gotten rid of a few cars for less serious issues. Granted, most were $500 beaters, but the principle is the same; never spend more on repairs than the car is worth.

I would use your husband’s car for now and look to see what the deals are. There might be some end of year great deals on car lots. You might want to consider leasing a car if you are dying for a new one. It does not make the most sense financially long term if you buy a new car and keep it ten years. But, for a few years it will be a cheaper payment than buying a car, and if you will be done with other expenses hanging over your head in a couple years it might make money easier and give you a car your prefer to drive.

I assume it is not definite your husband will be able to drive in a few months. Which makes me lean again towards using his car. Sorry to be all over the place in my thought process. Saving a lot right now could give you what you want in 6 months to a year without so many financial worries.