How much should you put aside or expect to pay for car repairs on an older car?
Its a 2001 Ford Windstar. It's never stalled and been great so far this past year we have replaced
Intake gaskets, alternator, battery, both front door lock actuators, various bulbs, all 4 tires, aligned, all new brakes, new brake fluid, a number of oil changes, air filter, exhaust hangers and now need to replace spark plugs and wires..
So how much should you expect to put aside or pay for repairs and maintenance on an older paid off car, until its economically unwise to keep that car?
Compare the cost of repairs (not normal maintenance like oil and filter changes because you will have that expense with a new car too) to the cost of purchasing a a replacement vehicle. The easiest way to do that is to take your annual repair costs and device by 12. Compare this to what a car payment would cost you. For example, if you pay $1200 for repairs, that is a monthly cost of $100.
Right now you have a van with good tires, and good brakes. With the tune up, it should run fine for a good while longer.
When the cost of repairs start to equal the cost of replacement, then it is time to replace the vehicle
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