Cash for Clunkers... wonder or blunder

*Update* I realize I did not put in the cost of parts and repairs for the older vehicles!

hmmm. Admittedly I am tempted, after all there are cars out there you can get for $5000 brand new after the government credit! So why do I hesitate, the gas mileage would be alot better than my Nova (which by the way is never an option for trade in or sale) My van is decent mileage about 18 or so on a good day. It would be prettier than my van that is for sure, poor little work truck, filled with gear, waiting for a little more in the budget for her makeover.

So I couldn't help myself... had to figure it out. Now I am no accounting wizard here just gathered some information from what I knew personally regarding parts and from what I got when I called local shops.

So here it is check it out I think you would be shocked as I was! The money alone we could save... would fix the air conditioning in the van, brand new paint job, and reupholster the whole thing in just a couple of months of what I would save if I opted to not get a new car. The Nova by the way is perfect in all those departments

The figures for monthly expense includes what you would need to put away for replacement of wear and tear. Most people say well older cars are not dependable. On our newer car we learned that everything is much more expensive; from simple oil changes, inspections, etc. From talking with other people at the time our car payment was considerable low at the time. All in all these figures I believe will be different for each person, maybe your car payment is higher or maybe your gas mileage is better. I think it is better to hammer out the long term factors before considering Cash for Clunkers.

For me I'm thinking maybe not, because I can put the van in perfect running order with new paint and interior and not only, not have a car payment but save other expenses as well.

Good Luck in your decision