repair or replace car?

Question

While at the gas station a gentlemen hit my car with his rv.  His insurance has accepted full responsibility.  The repair estimate for my car is 5500.00. My question is wether I should get it repaired or keep the money for a down payment on something newer.
My car:
2000 mustang GT
164000 miles
Looks great (well until accident)
runs great

I am still waiting to hear from state farm as to wether they will actually ok the repairs as my car value is only around 6000.00 due to age and miles.

Would you use the opportunity to have a good downpayment and buy something newer?  If I go for repairs and then 6 months down the road the engine starts having issues I will feel like I wasted a good opportunity.  Thoughts?

? · Accepted Answer

If the accident caused $5500 damage to a $6000 car, it's totaled. The insurance company is not going to put that much money into doing repairs. It's time to go shopping for a new car.

Anonymous · Answer

Take the money and spend it wisely, doesn't mean you have to buy a new car but don't sink that kind of cheese into something with that many miles. You never want to spend more money on a car than it's worth unless someone gives it to you...

2. If they give you a check and you have a friend in the auto body biz you may can get it fixed for less than half the estimate. Take your time and hold out for a car that's worth the cheese and one that you will be happy with. 

What is going on around here, the whole house just shook, earthquake or something, wow..

? · Answer

It feels like your Toyota has greater incorrect than precise with it. Whoever took you funds for the song up and brakes ought to puzzled in case you particularly had to place this funds in a automobile with such truly some issues. i might have mentioned that maximum each and every thing must be fastened with a clean engine different than for the physique harm. that must be very exspensive based how undesirable it truly is. The 2005 Pontiac must be 12 years greater moderen , yet that's not comparable to being greater suitable.you ought to assume that it would have issues too. exceptionally via the time you get it paid for. If it has a guaranty that should help, yet not for long. Take the Toyota to a save and fiind out what quantity of funds it would fee to restoration it (such as a results of fact the physique harm) and how long it would take and what sort of guarantee they might supply Time must be the figuring out element as a results of fact if your Toyota is interior the keep for a month. you're able to choose yet another automobile to get via. in case you are able to arise with the money for to restoration it, it particularly is probable your ultimate guess. in case you won't be in a position to, then go searching beforehand you purchase the Pontiac it truly is basically procuring and advertising one set of issues for yet another

Anonymous · Answer

being 12 years old and the amount of your driving it would ge to your benefit to get another one trading a car damaged could be at a loss.

pjr4241@sbcglobal.net · Answer

a car is usally totaled when damage is close to 80% of its value

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repair or replace car?

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