What if repairs are more than car is worth?
What if repairs are more than car is worth? Edmunds offers a simple rule to follow: “If the cost of repairs is greater than either the value of the vehicle or one year's worth of monthly payments, it's time for another vehicle.” Remember, though, that repairing an old car is almost always cheaper than buying a new one. Your car insurance may go up as well. Are old cars worth fixing? It is almost always less expensive to repair a car than buy a new one. Although something as severe as a blown motor or a failed transmission will run...