My broke down car
October 11, 2006 5:55 PM Subscribe
I need help deciding whether to fix my older car or buy a new one.
posted by eggerspretty to travel & transportation (13 answers total) 1 user marked this as a favorite
I have a 1999 Mazda Protege with 120k on it, a huge dent in the front passanger quarter panel, bad tires, bad brakes, brad struts, and little burn marks through out it. (The burn marks are from the previous owner.) It recently broke down with severe transmission problems. The mechanic (who is very trusted) said it would cost at least $2000 to fix. The problem is: I am upside down in it - I owe about $3600 on it (2 years at about $150 a month). If I buy a new car, I will have to take on at least $300 a month in car payments, plus pay off the broken car I can't drive - I'm not sure I can afford this. BUT I'm not sure it is smart to just fix the old car. What should I do?