My 10 year old Hyundai Santa Fe was running along just fine at 100,000 miles when the timing belt shredded. The engine is apparently a complete loss. I’ve already spent $800 to an overpriced mechanic to be told this.
The car’s blue book if running is only about $3000 (though on Carmax and other used sites they sell for a lot more). Currently it’s worthless. It would cost at least $2500 to get a new engine installed, which added to the money I’ve already spent would make it over blue book. Once installed, there’s always the chance that its timing belt will go or something else will break down.
OTOH AC and transmission and everything were working perfectly in the car before it died. And to scrap the car would only bring me about $350-$400- the tires and battery are damned near worth that.
I’m not able to buy a new car or anything close to at the moment. I can spend in the $3000-$4000 range.
Sorry- more venting than opinion asking. Here’s the opinion asking:
Any rule of thumb over when you should scrap a vehicle vs. repair it?