My daughter has invested a fair amount of maintenance/repairs into a 2005 Audi A4 that was purchased two years ago. Now, with 155,000 kilometres on the odometer, it has a blown motor, and quotes for repair start at $3,600. Any advice on how to offer it out to mechanics who could repair and sell, or other avenues? – Dave S.
Connecting with a buyer willing to offer reasonable money will be a challenge. Along the way, she will likely have to deal with multiple, slick buyers, audacious enough to suggest that they can "take it off her hands" for free.
I'm going to make a couple of assumptions. Firstly, that she paid at least $6,000-$7,000 for the car and has invested at least $1,000-$2,000 into repairs before the engine failure, thus creating an estimated $8,000 money pit. Selling it now, in its current condition will presumably only net roughly $1,500, at which point your daughter will have to start over again with sizable negative equity.
What will she replace it with – another used car or a brand-new vehicle? I won't dispute the idea of a new car, but if she is considering another used car, I offer this thought: She is going to suffer a loss either way. When faced with the choice of another unknown used car or repairing her existing Audi, I suggest that she complete the repair on the Audi. It's the lesser of two evils.
Lou Trottier is owner-operator of All About Imports in Mississauga. Have a question about maintenance and repair? E-mail globedrive@globeandmail.com, placing "Lou's Garage" in the subject area.