Had to choose between a new car payment or fixing my old beater, picked the engine rebuild

Tbh my 2008 Honda with 190k miles finally blew a head gasket last week. I was staring at $4500 for a rebuild vs $400 a month for a new car for 5 years. I went with the rebuild because I realized I'd rather own a paid off car than be stuck with a note for half a decade. It's been 2 weeks since I got it back and honestly, just not having that monthly bill hanging over me feels like a raise. Anyone else ever do the math on old car repairs vs new car payments and pick fixing the clunker?

2 comments

2 Comments

uma_patel1910d agoTop Commenter

Oh I read somewhere that the average new car payment is like $730 a month now, that's insane! Going with the rebuild was probably the smarter move since a paid off car means way less stress in the long run. That extra cash each month must feel good, right?

faithrodriguez10d ago

Noticing this all over the place now, not just cars. People are keeping their phones for 4-5 years, patching up appliances instead of replacing them. Feels like the whole 'just finance everything new' thing is finally wearing thin for regular folks.