Car repairs/bill dispute?

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Al3xK said:   Glitch99 said:   Al3xK said:   Sorry I didn't say that I have access to dealer auctions. Either way, putting ~$1600 into a $2500 car isn't worth it to me. It's pretty much totaled. Seems like OP really likes this car.You are thinking of the car as an investment, when it's really a utility. That $1600 wasnt invested in the value of an asset, it bought him XX,000 more miles of travel. Likely very efficient spending, relative to other options.

Typically I'd say a car is more of a commodity than a utility. It is definitely money invested in an asset. And it's also an asset, worth, lets say ~$2k before repair. If he sold the car for $2k and then added the $1600 he planned for repairs, he would be in much better shape with a different $3600 accord. CV joints on an old accord?? That's not money well spent.

If (car value pre repair) + (repair dollars) > (car value post repair)
Then don't do it.
again, the cost of a repair has nothing to do with the value of the car. The efficiency of paying for a repair is determined by what the repair gets you - which is more usefulness.

If you consider a car to be an asset, you'd never buy one because they only depreciate. And I don't mean buying them to flip, I mean buying them to drive.

It's a depreciating asset, yes. At the moment when he decides to repair/sell, it's just an asset with a value. The car was worth ~$3-3.5k pre-repair. Post repair it's probably worth $3.4k-$4k.

So, ignoring what you plan to do with the car, when I have an asset worth ~$3.3k and I'm deciding whether to invest $1.6k into it for a return of ~$500, I'd say don't do it.

If you want to factor in intangibles such as 'peace of mind'...that's another discussion.

Al3xK said:   It's a depreciating asset, yes. At the moment when he decides to repair/sell, it's just an asset with a value. The car was worth ~$3-3.5k pre-repair. Post repair it's probably worth $3.4k-$4k.

So, ignoring what you plan to do with the car, when I have an asset worth ~$3.3k and I'm deciding whether to invest $1.6k into it for a return of ~$500, I'd say don't do it.

If you want to factor in intangibles such as 'peace of mind'...that's another discussion.
You are still missing the point...

He didnt put $1600 into the car to add $500 of value. He paid $1,600 to buy XX,000 more miles of utility.



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