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Author: TMFWaDisco CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71854  
Subject: Fix or flounder? Date: 3/31/2008 6:40 PM
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You've outdone yourself this time, sir.
At least, thats what I keep telling myself.

I have a car, and like most people, it needs some help.

On Friday, the engine seized.
It is a 2005 Saab 9-2X (Linear) with 96,000 miles.
The twist to this story is a fun thing I colloquially call "negative equity". I hear its pretty popular amongst the young crowd.

I still owe $9,000 on my large paperweight.

The cost for an engine (low miles) replacement is ~$5,000.

Is it better to:
A) invest my hard earned dough into repairs?
B) find a shop/dealership that is willing to give me $4,000 for it (and not laugh at me)?
C) repair the car, drive it a bit, then sell it when my negative equity isn't so grating?

Option C seems to be the adult choice.
But Option B makes me cringe less because I'd be spending my $5,000+ on the negative equity and getting out from under.
This option would, of course, leave me without wheels. But thats a different story.

I just want to make sure I make the best decision for the long term.

Thank you all in advance for your mental magic.
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