Should I buy a new car? I am tired of repairing mine.?

Question

I have a 2002 VW Jetta (V6) and up until I hit 100k it was a pretty good car. Now the water pump went out (1200.00 to fix) the turn signal switch went out (200.00) the emergency signal went out (88.00) the AC sensor went out (600.00) now the engine thermosat went out and that is going to be an addional 200-400 depending on if that is the only problem. I don not own my car and would be in the hole weather I sold it independently or to a dealer. I get about 27mpg so gas mileage is not that bad and insurance isn't bad either. But these sudden repair bills are killing me. Oh yes the spark plug wires need to be replaced too 400+. I am a single mom with two kids and now my Visa is maxed out because of this stupid car! So should I buy a new/newer car? If so what? Please don't say ford (owned two and both lemons). I always keep up on maintenance.

Answer 1

Here is the bottom line. Its a VW!  that's a German car that is and will remain VERY expensive to repair, and it's only getting older! You say you are still making payments? take that payment amount, lets say its $400. Now add the money you avg. a month on maint. and repairs. lets say $75 amonth and that's low. That's $475 a month for a car that's getting older a will cost more and more every mile to own.  Now, since you are upside down, shop for a car with rebates or special financing. If you can find a car and can get a lower % rate, you might be able to get into a Newer car with a warranty and lower miles with not much more per month. How much is peace of mind worth to you? $50 a month?  just keep the Big picture in mind. That car will only get worse

Answer 2

Should you buy a new car or keep up the old one?  Easy!...maybe.  

Here is a senaio to think about:

Take the car payments on a new car...say 400 a month.  Multipy that by 12 months in a year and you will spend $4800.00 a year in payments alone.  Ok.  If you spend more than that in repairs, rental cars, inconvience, etc then; "Why arent you driving a new car for that money?"

If you are not spending THAT amt. in a year then you are saving money, right?  Now if you just hate the car, cant stand the color or options, etc then that is another matter of preference.  But looking at it from a business or finacial decision, maybe this will give you another prospective....

Hope this helps....

Answer 3

Unless more was done with the water pump then you were charged too much.......thermostat should have been changed at same time. Check your water pump invoice.

So add up all the money you spent on the car repairs and divide by number of years owned to determine yearly maintenance costs. Then compare that figure to what you think a new car note might cost....then decide.