Debate: I chose a $1200 used car repair over a $400 monthly payment.

My old Civic needed a new transmission. I could have taken on a new car loan, but I spent my emergency fund to fix it instead. It's been 8 months and I'm still saving that $400 every month. Did I just get lucky, or is fixing a beater always the smarter money move?

2 comments

2 Comments

cole_patel413d ago

Honestly, that's the move right there. My old Corolla needed a big fix and I did the same thing, and it just keeps running. The math on avoiding a new payment is almost always in your favor.

angela_carter3d ago

Wait, you fixed an old Corolla and it's still going? Those things are basically immortal. I'm shocked you even had a big repair, mine just drinks oil and refuses to die. People really do throw away perfectly good cars over a single bill.