What If My Vehicle Is Worth Less Than The Cost Of The Repair?
Another great question (dilemma) we at Jim Jennings Transmissions help our customers deal with daily. The answer to this issue is easier than most. Unless you're in the business of buying and selling cars, your goal should be the most cost effective, safe, comfortable and dependable mode of transportation available.
Most of us look at large expenditures on a monthly basis and how the costs fit into our budget. For instance, we look at the cost of our cell and home phones, cable, Internet, rent, mortgage, insurance and car payments on a monthly basis.....not annually. If we looked at those costs for the whole year they would add up to many thousands of dollars and scare the "life" out of us. Looking at the costs based on the period we benefit from them make it easier to justify their purchase.
When faced with a sizable repair on your car, SUV or truck it simply makes economic sense to divide the cost by the number of months you expect to benefit from its use and you can easily decide the best course of action.