I have a '94 Volvo 850 Turbo that has 150,000 miles and needs about $1,000 worth of work. Should I fix it or cut my losses?
I paid $5,000 for it 4 years ago and have put about $3,000 into it since…
A 94 Volvo with 150K shouldn’t be trashed, if the body and interior are still good. Plenty of them are still on the road at that age and folks still want them. What kind of driving do you do? Do you want a car payment? Would the car be in good condition if you did the repairs?
$1000 is very little money compared to the purchase price of another vehicle especially a less expensive on with $1000 of problems lurking.
I have not looked it up, but I would guess that you could do the repairs and sell it at a profit or buy it yourself for the $1000. That sounds like your best bet.
That’s an interesting way of thinking about it to arrive at a decision. Assume as of now that you do not have a car that functions as intended. Would you buy your car for $1000 and be satisfied with it?
That is the easy part. Beyond that, would you expect the car to run for a decent amount of mileage before it needs repair again? $1000 per year for repairs is far cheaper than car payments.
Sign the title, throw it in the glove box, send the car to me C.O.D. I will pay the shipping charge when it gets here.
What the various replies don’t factor in is, if you like our old car or not. If you’re tired of it, you may be a lot happier in a newer, better on gas model, like a Camry. The repair records are excelent, and the MPG much better.