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having a delimma if I should keep or replace my car

634 views 5 replies 5 participants last post by  Kajtek1 
#1 ·
have a dilemma if I should keep my paid off car, or get another same exact car with less miles and in good condition? I really like this model (W210)

I have a 1998 Mercedes E320 sedan with a check engine light illuminated; reading seven codes. I have alot of MINOR mechanical problems that will add up well over the cars worth ($1600). The total cost to repair all the maintenance is around $4000 or more.
The used E320's with lessor miles are selling for $3000.

What would be a smart decision; by getting rid of my paid off car and paying $4000 on another exact model (in good condition) with less miles, or just fixing up the one I have now?
My car cranks up and drives but the minor mechanical problems is irritating? It has 237,000 miles on it now.

Here are the list of MINOR mechanical issues: (Transmission switch replacement), (Differential replacement), (small oil leak), (ac leak), (catalytic converter/ exhaust leak)) (shocks, ball joints)
(paint job), (and body work).
 
#2 ·
This is obviously a subjective question without a clear, right or wrong answer. :confused:You will obviously need to determine the nature of what’s to be repaired & what’s the total cost of parts and labor? A general rule of thumb is that if a cost of repairing your current car is less than 15% to 25% of your car’s total Blue Book value, it is still worth repairing. But that’s not always true. I recently spent almost half of what my 13-year old car is worth :crying– but this is because the car only has 43,000mi, the entire car still looks the same as when I first purchased it brand new, 100% garaged with interior super clean.:wink

Obviously, your paid-off car is now an asset and a payment-free transportation but with very high mileage that now requires you to spend for mechanical repairs & body/paint job more than what the car is worth, it becomes a wiser move to let the car go rather than keep the car- except of course, it has a sentimental or memory value you can’t let go.:crybaby2:
 
#3 ·
How much you can sell the old car for?
I am afraid it will cost you to get rid of it, so why not evaluate the necessary repairs,
You don't need AC, at least not this time of the year. Is exhaust leak and small oil leak bothering you?
If you think the newer $3000 car will come with no issues, dream on.
 
#4 ·
i can't imagine buying an 18 year old replacement car will solve your expensive repair/maintenance issues. i think having high maintenance costs in some respects comes with the territory when dealing with older high-mileage cars, period. i am not sure i have seen many cars built as well as my 98 e320. 190K miles - i do maintenance on the wear parts and when necessary get parts from a junk yard.

if you can't afford to repair the car - i would suggest a much newer Jap econobox. of course - don;t get hit in it.
 
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#5 ·
My wife, admittedly smarter than most ordinary human beings, had a car she bought new and loved, a 1991 SAAB. Her solution was the following.

If you are comfortable with the car payments you have been making, then keep the car and keep making the payments but to yourself. You may need to open a separate account for this.

When she was finally ready for a new car after about 7 more years, she had enough in the account to pay cash for a new 2008 Mercedes E320 BlueTec.

As do others, I think buying another car just like you have will cost a Hell of a lot more than $1600. Bottom line is; I recommend fixing your car and keeping it while building up a new-car fund. Worked for her.
 
#6 ·
I think there 2 general ideas how to make MB brand working for you.
1. buy or lease new and keep till warranty expires
2 buy used cheap and DIY.
My latest wagon was leased for 1 year new, so some people have enough money for something like that.
I think the worse option is to buy MB at 10 or older age and start taking it to shops.
Than for DIY, typical myth is expensive parts.
All the comparable parts I bought on the net for my MB and for my Ford Truck - the Ford prices were always higher.
 
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