New Car? Chew on This...

I just returned from the auto shop. Remember a few posts back when I talked about a coolant problem with Mable? Turns out the computer shorted and wasn't running the fans properly. That led to my radiator pretty much being trashed. I ended up replacing the radiator, hoses, thermostat, and computer to the tune of $1742. How much is labor per hour in Minnesota? Anyone? It's up to $98/hr. here. Silly.

I just ran the numbers on my car since I took it over in 2003. I only have receipts from when I moved to TX, but I'm pretty sure I didn't dump anything major into it before I moved to TX.

So, excluding normal wear and tear items, since these would still be incurred on a new car, this is the run down of my expenses on the car...

April 2006, Alternator, $351
May, 2007, A/C System, $873
May 2008. Cooling System, $1742
Total: $2966

Cost per month since 2003 ($2966 / about 47 months): $63
Cost per month since 2006 ($2966 / 24 mos): $124
Cost per month in since last repair ($1742 / 12 mos): $145

Any way you run the numbers, this car has been doing well. I think I made the right decision in fixing it again. As long as my 12 month average stays below the amount of an average car payment, I am going to keep driving it. That $145 would have to get to nearly $300 and that's not including insurance on a new car (I pay $29/mo right now). I have quite a bit of room to wiggle. I also am going to sock away $100 a month in a car repair fund / new car fund just so I can be prepared.

I'm such an accountant.