To scrap or not to scrap

Money_Grabber13579

The way I look at it is to ask how many months of depreciation the repairs would cover versus buying a new/replacement car.  If I’m going to buy a car that costs £15k and say it’s expected to depreciate at £3k in the year I buy it, then by repairing the old one, I only need it to last for another 6 months before I’m in a break even position.

It’s never going to be as clear cut as just looking at the break even position but it’s a useful starting point I think.

jimjames

tomas311311 said:

Thanks @facade! I’m doing the very opposite of looking for an excuse to get rid, I’m tempted to keep it, but wanted to see if anyone would tell me I’d be a fool to do that!!

No, you definitely wouldn't be a fool, it would be very MSE and indeed also environmental to keep an older car on the road and avoid the resources needed to produce a new one