Tradition states that it's when the cost of the repair is more than the cost of the car. But, that's an incomplete analysis. Because that's simply treating the vehicle as a parked asset and not a means for transportation.
If the car is worth $500 and the repair costs $600, it still makes sense to make the repair if I get more than $600 out of the car in the future. And while there is some risk involved in that not knowing the future, the economic choice is to choose the repair.
But, I feel like I'm still missing some factors? What else do I need to think about? Let's solve this today so tomorrow I can talk about leasing, which I've always wanted to figure out how to make sense of.
In other news, my wife's company, Sweet Table Chicago, designed a dessert table for recent Stanley Cup Winner and Chicago Blackhawk defenseman, Brent Sopel. The party was ridiculous. And the table was her best yet. Check out the pics.
