Repair, Adjust or Replace?

[Retired To Win]

In my blog post "A Frugal Tale of 2 PCs" I tell the story of how my initial move to buy a replacement laptop turned into a repairing effort that got me TWO functioning computers for a third of what I was going to spend on a replacement. And that's got me thinking about the overarching question: when does it make sense to repair what you already have and when does it make sense to spend money to replace it?

I keep repairing and servicing my 1996 Dodge Dakota instead of replacing it. But when my refrigerator's compressor was diagnosed by the repairman as terminal, I did not replace the compressor -- I replaced the refrigerator. When one of my toilets would not flush or fill its tank properly, I spent lots of time finding and retrofitting parts to make it work. But when my calculators stop working, I don't even check to see if it's the battery -- I just buy another one (for a buck!).

When is it worth it to you to repair your stuff and when do you spend the extra money to replace it?

[danielhermann]

I generally do it based on the useful life of the product. If it is nearing the end of its economic life and it breaks down, I replace it. Else I get it repaired. One exception is when the object is one which has sentimental value. Then I delay the replacement as long as possible.

[Retired To Win]

I generally do it based on the useful life of the product. If it is nearing the end of its economic life and it breaks down, I replace it. Else I get it repaired. One exception is when the object is one which has sentimental value. Then I delay the replacement as long as possible.

I've learned to look beyond the end of an item's "economic life." One good example is my 130,000-mile 1996 Dodge Dakota. I still spend the money to keep it in good repair and well maintained because -- to me -- that's a much more cost-effective option than buying another vehicle. The Dakota's resale value doesn't enter the equation at all, as far as I am concerned.