The value of a repair.

I’m often asked “is the car worth the repair?”

When faced with a large repair bill, many owners begin to wonder if it’s worth investing all that money or should they take a serious look at replacing the vehicle. It’s a great question.

How do you value your car? Well, let’s remember that the used car market is brutally honest. A vehicle, like any other piece of used equipment, is worth only what someone is willing to pay for it. The value is loosely based on the amount of service life left in a vehicle, its overall condition and its general appeal.

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For example: high mileage vehicles are worth less than those that have travelled fewer miles. Four door vehicles sell easier than do two door vehicles because the family based market is larger. Also, a two door has larger and heavier doors, meaning they’re harder to move and they can’t open as far outward in a crowded mall parking lot.

The brand of your car also affects its value. Toyota and Honda top the pecking order as far as used car residuals are concerned. On the other hand if you own a Daewoo, the value would drastically reduce.

The question still remains

Here’s the formula I use to appraise the fix it or dump it dilemma - take the cost of the repair, plus the reduced value of the vehicle (remember, it needs repair) plus applicable taxes. Then ask yourself “what can I buy for this amount?”

I’d be surprised if you could buy your car back. So the usual answer to the “is my car worth fixing” question is “yes; fix it.”

Q: I have a serious problem. My current ride needs a transmission overhaul. I have been to two different speciality shops and both estimates are in the $2,000-$2,500 range. My question is: “is it worth repairing my 12 year old Mazda Protégé?” Other than this issue, the car has been trouble free.

A: Great question. Actually, the Mazda is a great car and really doesn’t have any major flaws; in fact it has a great reputation for reliability. The first thing I would suggest is to audit the car. Have a competent tech go through the vehicle and give you a picture of its general condition. If the prognosis is good, I would definitely go for the repair.

Dave Redinger has more than 40 years’ experience as a mechanic and has run his shop, Doctor H Honda Specialists, in Toronto for the past 26 years. Tune in to Dave’s new shows “Dave’s Corner Garage” on Sun TV and “In the Shop” on Men’s TV. Check local listings.
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