If the car is otherwise in good nick, its probably worth repairing. My philosophy is that all cars, new or old have pretty much the same annual cost - road tax, insurance, fuel and wear and tear items like tyres., so I look at the additional annualised cost of repairs vs depreciation. £2 grand is a big sum but compare it with > £3k in depreciation on a new MX5 as soon as you drive it out of the showroom! Cars are rarely an investment (except Classics) - if you have spent less than £500 /annum on your car in the years you have owned it , then you have had good value - repair it and enjoy 4-5 more years?
If you have spent less than £500 /annum on your car in the years you have owned it , then you have had good value.
[/quote]
Not a bad philosophy.
Perhaps putting £10.00 aside every week to cover car repair costs would be a good idea. £10.00 is only a couple of pints down the pub (depending on where you live of course - could be three pints !), and it would soon mount up if you didn’t need any repairs.
I did try it many moons ago, but there always seemed to be something else that needed the money - wife, holiday etc, but it’s a plan !
Just a reflection, by quoting William Woolard’s 1989 view of the then new MX5 Miata, how the definition of “raw” has changed.
Hi Saz,
Difficult to argue with William Woollard. What a legend! I don’t know if he ever received a knighthood but if not he certainly deserved one.
Cheers
Matt
William Woollard, then that turned into Jeremy you know who, no contest, WW everytime.
If you really love your car then why not invest the money into repairing it. You will most likely go and spent that amount or more on another, it could have the same problems pretty soon if the correct checks aren’t done when buying. Better the devil you know.