re: Car Situation: Need Advice

Agreed. Here's the way I look at it, if I have $2K in auto expense and need to decide whether or not it is worth it, I ask myself if spending that will extend the life of the vehicle long enough so that a car note would break even. If my new note would be $400/month, for it to be worth it the car would need to last another 5 months. Also, factor in the fact that by repairing an old car you are avoiding having to put down a downpayment for however much longer the car lasts.

If I need to put $2K down to get a new car or lease one and I'm picking up a $300/mo note, it is definitely worth it to pay the $2K to get the old car fixed if it will make it last for another few months....