how much money should you put into a car before it is time to get a new one?

Answer 1

That's up to you. If you like your car and wouldn't trade it for anything, that means you should spend as much as you want repairing it.

Typically, you can repair an old car for much less than it costs to purchase a new car.

Take an engine repair, for example. To replace an entire V8 engine in a car would cost around $5,000. There isn't a new car on the market that you can purchase for $5,000. And after you have replaced the engine, you essentially have a new engine that should last another 150,000 to 200,000 miles, so you won't have that repair bill again for a long time.

Also, because old cars are typically not worth as much as new cars, your registration and insurance costs will be fractions of the costs for a new car.

One of the main expenses of a car is fuel. If you are happy with the fuel mileage of your old car, keep it. New cars get better fuel mileage and so they save money on fuel over old cars, typically.

Bottom line, it's up to you to decide.

Answer 2

When the cost of your monthly repairs start rivaling the cost of a new car payment, or when a single repair equals (or comes within 80%) to the actual cash value of your vehicle.

Answer 3

:et me put it too you this way....do you have to work on it just to keep it going so you can get to work? I got tired of having to fix something on my truck every couple of days, so I bought a new truck and now i have a hobby truck to restore and piddle with.