Comments on: Car Repairs – Scrap it, Park it, or Fix it?

By: Personal Finance Roundup: Lower Your Car Insurance Costs

Personal Finance Roundup: Lower Your Car Insurance Costs — Fri, 26 Aug 2011 02:53:12 +0000

[...] of cars, how do you handle your car repairs – scrap it, park it or fix it? A Debt Free Adventure reader asks if he should spend another $6,000 to fix a vehicle that is only [...]

By: damion

damion — Fri, 27 May 2011 17:01:28 +0000

Thank you so much. we are now in a similar situation. i was considering getting another credit card to fix the vehicle, but that would only exascerbate the situation. Thankks a bunch and God bless!!

By: New Schedule on Couple Money — Couple Money

New Schedule on Couple Money — Couple Money — Mon, 21 Feb 2011 21:21:51 +0000

[...] Car Repairs via @mattjabs [...]

By: Steve in W MA

Steve in W MA — Sun, 29 Aug 2010 04:33:31 +0000

Hubby is out of work, why doesn’t he get about $500 worth of tools and learn to change the engine out himself. What else have you been doing with your time?

A used engine will run you a maximum of $1000, in fact I’d guess most likely around $600.

With a reasonable tool set and a rented engine hoist and jack stand, hubby and you can drop a new engine in yourself over a weekend or a couple of weekends since you are novices.

By: Graduation Roundup

Graduation Roundup — Sun, 16 May 2010 14:03:10 +0000

[...] Car Repairs -Scrap it, Park it, or Fix it at Debt Free Adventure [...]

By: Jenna

Jenna — Fri, 14 May 2010 18:37:28 +0000

If you do decide to park it until you come up with the money, make sure to cancel your insurance on the car (or lower it). That will save you some money.

By: Jon

Jon — Fri, 14 May 2010 15:37:54 +0000

All good advice John, but you may notice that Matt didn’t write this particular article.

By: Trunk Monkey brings us the Car Coach Roundup | Car Negotiation Coach

Trunk Monkey brings us the Car Coach Roundup | Car Negotiation Coach — Fri, 14 May 2010 14:34:49 +0000

[...] Debt Free Adventure gives advice on car repairs [...]

By: Have You Flipped a House? / Weekly Roundup

Have You Flipped a House? / Weekly Roundup — Fri, 14 May 2010 09:02:49 +0000

[...] Car Repairs -Scrap it, Park it, or Fix it at Debt Free Adventure [...]

By: Green Panda; What is Cool Around the Web This Week « Green Panda Treehouse

Green Panda; What is Cool Around the Web This Week « Green Panda Treehouse — Fri, 14 May 2010 09:02:16 +0000

[...] Car Repairs @ Debt Free Adventure [...]

By: BG

BG — Fri, 14 May 2010 02:26:08 +0000

I wouldn’t even replace the engine — why can’t it be fixed? Rebuilding a motor is what? $2,000 or so?

Unless you cracked the block or something. $6,000 could replace everything under the hood (engine, powersteering, AC, etc, etc). Find a better mechanic.

By: Kate

Kate — Wed, 12 May 2010 20:01:07 +0000

I would definitely get an estimate from another mechanic. I just rebuilt the engine in my Jetta and that was $4k with getting a new clutch and some other work done at the same time.

You can also look into used engines.

By: KimC

KimC — Wed, 12 May 2010 19:52:25 +0000

I agree with the recommendations to get additional quotes, but don’t limit yourself to yellow pages auto garages.
We’re about to have the engine in our Mazda replaced. We have found used ones locally for $400-700, and will be paying a knowledgeable friend a few hundred to install it for us when he has a free weekend.
Swapping out engines isn’t like changing the oil in your car, but for someone with the proper tools and experience, it’s actually not a huge job. You may find you know someone with more time than money who can save you thousands of dollars.

By: I Stop for Pennies

I Stop for Pennies — Wed, 12 May 2010 19:37:31 +0000

Your best option is the one Jim recommended. Get SEVERAL quotes on a used engine. $6,000 sounds a little steep when I’ve heard several low $3k quotes for other vehicles.

A rule of thumb with these situations is if the scrap value + repairs is larger than the value of the car then it’s not worth repairing. It sounds like you fall into this situation unless you find a cheaper engine. Best of luck.

By: james presta

james presta — Wed, 12 May 2010 18:57:45 +0000

oh wow my friend you are in a very tough pickle, you will be better off keeping the minivan because in the long run it will help you out.

By: Jim

Jim — Wed, 12 May 2010 17:00:18 +0000

I love the idea about writing the car dealership or the manufacturer. 52,000 miles is not a long life on a brand new car. It would definately help if you had the receipts from the different services you have performed on the van. It is worth a shot, even if they can cover some of the cost. Good luck!

By: Financial Bondage

Financial Bondage — Wed, 12 May 2010 16:19:59 +0000

tough call. wow. sorry to hear this.

can you refinance the car with a loan for the extra $ to replace the engine? then just make payments on the balance, try to pay off asap. I mean spending the $6k is still cheaper than getting another car.

did you buy this car from a dealer? Id write them a letter, trying to get them to pay for 1/2 of the engine. it should not have gone bad so early

By: Thomas

Thomas — Wed, 12 May 2010 13:58:52 +0000

Wow! What a dilemma! As implied by the multitude of reponses, there is no real easy way out of this one. It’s going to take some sacrifice on your part to get through this. Here are a few questions/points I’d like to bring up:

1. Is a minivan a necessity at this point in your life? If so, I’d say go ahead and save up, get the car fixed, replenish your emergency fund back to around $1,000 and then work hard to pay off the car loan. If the van is not a necessity, I’d say split your savings 50/50: half towards car repairs and half towards paying down the principal on the loan.
2. Are you planning to go back to work? If so, your recovery might be faster than you think. Even if you got something part time. Heck, after the van is repaired, you could continue to work and dump all your earnings into paying off the car.
3. Are there other areas in your life right now that you could cut back on to save some money? It sounds like you guys might be in a tight spot right now and may already be cutting back. If not, now’s the time. : )

By: Jim

Jim — Wed, 12 May 2010 13:08:53 +0000

$6000 seems a bit high for an engine repair to me as well. Another option that has not yet been explored is the possibility of replacing the engine with a used one. This could cut thousands of dollars of the cost of repair and make it an easier decision. I agree that cars can be very frustrating when you start adding up the costs. This car is relatively new and should have lots of life left in it, so I don’t think I would be against such a repair. If you can, try to use one car while you save up money and shop around for the best rate and a good used engine.

This is another great example of how the depreciation costs associated with buying new can really hinder your options down the road.

By: ChrisFM

ChrisFM — Tue, 11 May 2010 21:08:24 +0000

I’m of the opinion that in the medium to long run, it would be better to just let it go. That’s sort of easy for me to say, seeing that I drive a beater that was all but given to me.

Best of luck.