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Expensive car repairs
By Ruben Austria
What is expensive car repair? Expensive would be something like repairs costing twenty percent (20%) or more of your cars value. Why? Because a car depreciates around that rate every year and that is costly unless it earns more than that in one way or another. The next question is, will the repair cost offset the one (1) year depreciation of your car? For tax deduction purposes, it will not. It might, however, give good re-sale or scrap value after it has totally depreciated after five (5) years. For others, meanwhile, expensive could be something they could hardly afford. As I have frequently asked from car owners, I ask what they consider the costliest replacement they have on their car. Not one I have asked gave me the answer that I was expecting. Most mentioned extensive body part replacements, transmission or engine. They shook their heads when I told them that replacing used fuel was most expensive and frequent! That's the truth! When parts increase, we hardly hear people complain. But when fuel increases we hear complaints all over the world! So, when thinking about repairs expensive car repairs, think first on the cost of fuel you spend on every year. The repair that you might need on the car could last more than a year or two. Would you consider it to be more expensive than the annual cost of your fuel costs? Even if your car is an exotic car like say a Ferrari, Lambourghini, Maserati or whatever. It should guzzle more fuel than standard road cars, so it balances out whatever car repair that might be needed. The point here is when you need that expensive car repair you pay it one-time. Expense on fuel is like paying probably the same cost on installment. As of 11/24/2008 Gasoline costs $1.892 per gallon. If your consumption is 20 miles to a gallon and drive an average of 40 miles a day per month, that narrates to $114.00 a month and $1,368.00 a year, more or less! That's almost 10% of a brand new car worth $15,000.00! If that car is two and a half years old, fuel expense goes up to about 20% of its depreciated value. From here, I would say expensive car repair will depend on each car owner that needs it. It is plainly up to an individual to decide whether it is expensive or not, based on the value of his car and fuel expenses. A car might be fully depreciated but the service it gives is the "value" to the owner. I used to have a 1980 model a year ago and the fuel costs and repairs I spent on it was a lot more than the price I sold it for. Expensive? It is the car owner's decision to call it as expense or investment. Expensive means it will be less than the returns. Investment means it is break-even or returns could be more.
This intel first appeared on: http://www.helium.com/items/1252309-what-is-an-expensive-car-repair
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