When to decide if a car is a write off.

[obi_waynne]

We all accept that when a cars cost to repair exceeds the market value or a percentage of the market value it is time to cut your losses and get rid of the car.

At what point or when do you determine when to get rid of a car. Have you ever held on to a car and spent far too much money on it keeping it running?

Why do we get so attached to our cars?

 

[HDi fun]

I don't totally agree. It's not the market value that matters - it's what it'll cost you to get a car that was otherwise in the same condition as the one you're considering writing off.

 

[obi_waynne]

So what is your formula?

Cost to replace car + £200 for niggles and tax and hassle = repair cost.

Its fair to say we all think our cars are worth far more than they are. Hey that gives me an idea for a thread.

 

[HDi fun]

It could be ten times that if you take into consideration all the things that could be wrong with a second user car.

 

[prevtec]

when your in the back of an ambulance lol

no, if you pay 1000 euro for a car and god forbid you crash it, and its 500 euro to fix, bin it

but if a car is worth 1000 euro book value but you spent 3 or 4 grand on it, keep it, as long as its driving perfct

if any car has to be pulled and straightened, whether its a fiesta or a ferrari, scrap it

 

[dpsubaru]

prevtec, i disagree, i have pulled/straightened a car before and whereas it isnt really financially worthwhile (unless you have a cheap donor car) there is a certain satisfaction of getting it running properly etc...

in general i prefer to keep something that i've done the work on rather than replace it, as HDi says, you could end up doing a mountain of work to another car just to get it into the same condition in any case.
I draw the line to when it goes on fire though (especially if done by oneself :embarrest

 

[turbonutter69]

I would want to drive a car that has had to be pulled straight. Doesn't drive properly in my opinion no matter how straight you get it.