WWYD: Pay to repair vs. replace (van)

[Sue G in PA]

We we have this 15 pass. Dodge Ram Van. Had it for about 5 years now. It's a 2001. Broke down last night on way to church and it is likely the transmission which is a costly fix (about $1000). We JUST paid off this vehicle about 6 mos. ago which gave us about $300 breathing room in our monthly budget. I am sick to my stomach thinking about paying that much $ to repair this hunk of junk. A few specs: The van does not have a/c so it get's beyond HOT in the back where the kids sit. The van leaks when it rains. We've had it in for repairs 3x for this and it has yet to be repaired correctly. So, our carpet gets wet in the front and the van constantly smells of mildew. Yuck. PLUS, we just paid about $500 to get something else repaired in the van not 2 mos. ago. I'm sick, I tell you. SICK! I hate the thought of taking on another $300+ payment but am equally sick about paying $1000+ to repair this van that I despise anyway! I'm leaning toward replacing...dh is leaning toward repairing. :glare: Advice? BTW...we would have to put the repair costs on credit (which we hate doing) and then use tax refund to pay it off in Feb. THAT means no vacation...AGAIN! UGh.

[Aubrey]

How much did this van cost? How much would a new one cost?

 

My experience w/ things like transmissions is that they still never run right. I'd be *very* hesitant to pay to fix one.

 

My van cost $1000. To *buy.* Now...it had a lot of repair work up front, so I'm not sure how much I should really say it cost when you figure that in. Maybe 2k. And it's teeny. I can squeeze a 5th kid in if I have to, groceries are already tight. All of that to say, I know a 15 pass would be more, but...have you checked prices?

 

My dh has asthma & severe allergies. Mildew in the van would not be an option for us, & honestly? I'm grateful for that because I know it's bad for all of us. The health issues, headaches, etc....

 

I'm leaning toward replacing it, too, but I don't have enough info. :001_smile:

[Sue G in PA]

I *think* we paid about $15K for the van in 2001. We are looking at at least that much to replace...taking on another $300 payment each month. Dh has great credit so we could probably get a good rate. I am even thinking of (gasp) buying new b/c of the incentives. Looking at the Chevy Express. Not sure though. I just feel sick repairing a van that I hate already and one that smells and leaks and doesn't have a/c. A car is one thing, but a van with no a/c (can't open back windows) gets stifling in summer.

[Aubrey]

I *think* we paid about $15K for the van in 2001. We are looking at at least that much to replace...taking on another $300 payment each month. Dh has great credit so we could probably get a good rate. I am even thinking of (gasp) buying new b/c of the incentives. Looking at the Chevy Express. Not sure though. I just feel sick repairing a van that I hate already and one that smells and leaks and doesn't have a/c. A car is one thing, but a van with no a/c (can't open back windows) gets stifling in summer.

 

Ok, so what are the incentives? How bad would a new van pmt be? $300/mo for 60 mos? I still don't know...the stress & $ of a bad vehicle are hard to accurately measure. Could you poke around Craig's List & see what used ones are going for? That might not be a good idea, really, but if you could find something in much better condition for a lot less...that *might* be a good middle ground. I dunno.

 

And...out of curiosity...how hot does PA get in the summers?

[silliness7]

We we have this 15 pass. Dodge Ram Van. Had it for about 5 years now. It's a 2001. Broke down last night on way to church and it is likely the transmission which is a costly fix (about $1000). We JUST paid off this vehicle about 6 mos. ago which gave us about $300 breathing room in our monthly budget. I am sick to my stomach thinking about paying that much $ to repair this hunk of junk. A few specs: The van does not have a/c so it get's beyond HOT in the back where the kids sit. The van leaks when it rains. We've had it in for repairs 3x for this and it has yet to be repaired correctly. So, our carpet gets wet in the front and the van constantly smells of mildew. Yuck. PLUS, we just paid about $500 to get something else repaired in the van not 2 mos. ago. I'm sick, I tell you. SICK! I hate the thought of taking on another $300+ payment but am equally sick about paying $1000+ to repair this van that I despise anyway! I'm leaning toward replacing...dh is leaning toward repairing. :glare: Advice? BTW...we would have to put the repair costs on credit (which we hate doing) and then use tax refund to pay it off in Feb. THAT means no vacation...AGAIN! UGh.

 

I feel for you. That's awful! :grouphug:

Since I'm not emotionally vested in the problem and from a strictly financial viewpoint I pick fix it. Pay $300 in cash, charge $700 and pay it off in 2 months (because you have no car payment) That's totally better than $10-$15,000 in debt and there is NO guarantee how long the new-to-you van takes before it starts showing it's warts.

 

Our 15 passenger also has no air...but we're up north so it's not outrageous. The windshield wipers have only one speed. The front passenger seat reclines as soon as someone sits in it and no longer adjusts in any way. The drivers seat doesn't lock just right and when you brake it moves forward ever so slightly...just enough to be annoying. Oh and the 2nd side door (the one you open to make it easier to get in and out) totally fell of it's hinges so we can't use it. Other than that...it's grrrrreat! :lol: The worst part? We're still making payments. Aaarrggh!

[qfbrenda]

Well.... we spent $3000 cash for our '94 15 passenger van that has rear air and heat, shoulder belts in the back, and doesn't leak. We don't do car debt. ;) There are lots of nice vans to be had for way less than $15,000.

 

And in your situation, I would fix the leaking van whether we bought another van or not. A vehicle with a broken transmission is worth almost nothing if you try to resell it. You'll need the value from your current van to help buy another one. We would fix it and drive it while we saved so we could buy a different one.

 

If you choose to do a car loan, I would only do one you can pay off in 3 years or less. A 5 yr car loan means you are paying way more for the car than on a 3 yr loan.

Edited July 15, 2010 by qfbrenda

[fairfarmhand]

I'd fix the van and then start looking for something else. You cannot get any money from the sale of your current vehicle if it is not driveable. Then you at least have transportation and have some wiggle room to negotiate for a new one. (you never want to be desperate when trying to purchase something)

 

What is the KBB value on this lemon?

[Danestress]

BTW...we would have to put the repair costs on credit (which we hate doing) and then use tax refund to pay it off in Feb. THAT means no vacation...AGAIN! UGh.

 

that would have to be on credit too, right?

 

Unless you are going to buy a brand new van, I think $1000 repair bills are just part of car ownership - occasionally.

 

I have a 2002 wagon, and I was so frustrated about a year ago because of several months of repair bills. I joked that it was my "$500 a month car" and for a few months, it was. We've had two that were much bigger. I've had it 7 years and probably have had $5,000 in maintenance (this includes very regular oil changes, tires, etc as well as the unexpected zingers). We've had a year, though, with not much besides basic upkeep, though. Knock wood.

 

When I look at replacing it, that seems more expensive. I either buy a new or near-new car, or I would buy something old and I would still have repairs.

 

The A/C though, I would want. Does it not have it or does it just not work?

[Alyce]

It sounds like you've already been putting in a lot of money in this van. You've tried to fix the leak several times and it hasn't worked. You could fix the transmission but with all the other problems esp no a/c you probably won't get much for it, maybe not even enough to pay for all the repairs you've done to get it ready to sell. If you have enough money for a downpayment and have been handling the other payments I'd go ahead and buy another one. You don't have to buy new. Look for used ones. They'll be at a more reasonable price and many car dealers will still give you loans for those as well. You also didn't say what the mileage is on your van. If it's over 100,000 that's also going to devalue it more.

[gingersmom]

I would buy a new one.

 

For me it feels like putting good money towards something bad.

 

My car recently failed inspection. It needed new transmission, fuel line and something wrong with its emissions output. It also had 110,000 miles.

 

I left the repair shop and headed straight to the nearest new car dealer.

 

 

Car payments are always painful but getting stuck by the side of the road is even more painful.

 

For the next 60,000 miles I am going to be in driving bliss (till my warranty runs out)

[SquirrellyMama]

We we have this 15 pass. Dodge Ram Van. Had it for about 5 years now. It's a 2001. Broke down last night on way to church and it is likely the transmission which is a costly fix (about $1000). We JUST paid off this vehicle about 6 mos. ago which gave us about $300 breathing room in our monthly budget. I am sick to my stomach thinking about paying that much $ to repair this hunk of junk. A few specs: The van does not have a/c so it get's beyond HOT in the back where the kids sit. The van leaks when it rains. We've had it in for repairs 3x for this and it has yet to be repaired correctly. So, our carpet gets wet in the front and the van constantly smells of mildew. Yuck. PLUS, we just paid about $500 to get something else repaired in the van not 2 mos. ago. I'm sick, I tell you. SICK! I hate the thought of taking on another $300+ payment but am equally sick about paying $1000+ to repair this van that I despise anyway! I'm leaning toward replacing...dh is leaning toward repairing. :glare: Advice? BTW...we would have to put the repair costs on credit (which we hate doing) and then use tax refund to pay it off in Feb. THAT means no vacation...AGAIN! UGh.

 

What is it worth if you fix it? I think you need to look at that. Is it worth more than the fix if it is fixed? I would get it fixed and then start putting money away for a different one.

 

If it won't be worth more than the fix then I would get a different one.

 

I just re read your post and I'm not so sure I'd keep it if it has leaking problems, mildew and can't seem to get fixed right. If you do get a new one and can't sell the old one I'd suggest donating it to Teen Challenge. You get a tax write off and they will use it for a really good cause.

Edited July 15, 2010 by kwiech

[Aubrey]

I'd fix the van and then start looking for something else. You cannot get any money from the sale of your current vehicle if it is not driveable. Then you at least have transportation and have some wiggle room to negotiate for a new one. (you never want to be desperate when trying to purchase something)

 

What is the KBB value on this lemon?

 

Do you think she'll get $ for it w/ a new transmission, though? She'd have to be able to sell it for more than $1000 just to get back to 0, & ime, when the transmission goes, the engine's not far behind.

[QueenCat]

We're hitting the point where repairs are coming close to car payments... and are going to replace soon. Cars and houses are the only thing we do payments for, and will continue to not feel guilty or like it's wrong for doing so.... don't really get that mentality but that's a whole different thread....

[Sue G in PA]

Well over 100K miles. Van isn't worth much...even working. Doubt we'd even get a good deal for a trade. Not worth it. Some co. will pay us $250 for the van and free towing just to get rid of it. Better than spending over $1000K + towing only to have more probs later. Searching for a good, used van now. Well, later. I'm too overwhelmed right now. Thanks all!