Trade in or run till it dies?

S

Sillygirlme

New member
I have a Honda CRV EX with approx. 130K miles on it purchased from a dealer in 2008 and I am coming up on the end of my payments. The car has cost about $2000 per year of ownership in repairs and maintenance costs with many more to come (radiator leaks, oil leak, exhaust needs replacement and front end problems will be the 3rd time I have replaced something on that front end!)

Should I put out the money and fix my car up to run a while longer so I have no car payment. Or should I trade it in for something more reliable but an auto payment?
It's not a 2008, model year is 2001 I bought used.
 
J

JetDoc

Member
If it's paid for, it's still cheaper to keep it running than it would be to trade it in on a new car (and a new set of car payments).

Take the money you were using for car payments and put it in the bank. By the time your CR-V fails completely, you may have enough saved up to buy a new car for cash.
 
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