Is my car worth trying to save

VINNY COOL

MEMBER
2007 BMW 328XI
6 CYL
4WD
MANUAL
104,000 MILES

Haven’t driven the car in a year and some change after my driveshaft snapped and put a hole in my transmission. I finally decided to fix it and had the transmission replaced, clutch replaced and driveshaft. After repairs my car would not start. Mechanic suggested it could be a compression issue so I took it to a BMW specialist. They found my battery terminal was filled with water and burnt out the battery case and cables and replaced them. Now my car cranks but still won’t start and they also believe it could be a lack of compression or timing issue. I’ve already put $3,100.00 into the car and want to have it fixed but the BMW specialist is saying I’m looking at another $2,500.00 if they have to remove the valve cover to check the timing etc, and that still could not be the issue. I don’t want to just keep pouring money into this car for no reason but I need a vehicle. What should I do?

Thursday, July 2nd, 2020 AT 8:26 AM

1 Reply

KASEKENNY

MECHANIC
18,907 POSTS

This is always a subjective question because if you like the car and are going to keep it and you have the money to fix it then that is fine.

However, in general we don't fix a vehicle if the repair cost is the same or more as what the vehicle is worth. The reason is, if you fix it and want to sell it, you are only going to get your money back and that is if you can sell it for what it is worth. It is not worth the risk.

It is better to sell it as is and take what you can sell it for and the money you would have used to repair it and buy another one.

For example, if a vehicle is worth $5,000.00 in good running order, and you have a $1,000.00 repair, then it would be worth fixing it and selling it if you didn't want it. However, if you have a $4,000.00 repair to get it running, it would not be worth doing it because at best you will get your money back with a small profit. So if you sell it as is for let's say $1,500.00 + the $4,000.00 that you were going to use to repair it, you come out ahead.

Based on what I am seeing, I would get a second opinion on repair costs if you want to keep the vehicle. However, if you want to sell it, I would cut your loses now sell it as is.

You can't evaluate this by saying you are already $3,100.00 into this so should you continue with more repairs? The answer to this is always no. You are throwing good money after bad. Meaning the $3,100.00 is gone and you are not going to make it up by putting more money into it. From what I am seeing the vehicle is worth around $3,500.00 to $4,000.00 in good condition (that means well running) so putting another $2,500.00 into is not going to it worth more.

So that means the only decision you have to make is if you really like this vehicle and if so, is it worth it to you to spend another $2,500.00? The fact that you are asking this question tells me that you are probably looking to unload it.

Let me know what questions you have. Thanks

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Thursday, July 2nd, 2020 AT 9:40 AM