Sharing Daily Discoveries About Personal Finance And Business Topics

Having To Repair A Cheap Item Versus Buying A New Item Value Wise

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Today I was with a few other people who caught up with a person we haven’t seen in quite awhile and apparently he recently sold his car and bought an RV. While that alone is kind of a big change it was interesting to learn that the RV he bought wasn’t new but he was expressing how he got a great deal as it was only about $4000. It definitely needed work to be done on it as there were so many damaged parts on it.

That’s when people started to comment how they would have only paid about $2000 for that considering the amount of work and resources that will have to go into repairing that RV. But the person that bought it still considered it great deal which kind of got me thinking about the discussion of buying super cheap things that need a lot of repair.

In some cases that can be good where if you are very good at whatever is necessary to repair something then it make sense to do so. Especially if it’s a case where the time and money to repair something is simple for you where in doing so you could say resell the item for double the price you bought it for. No different than how many used shops fix broken gear to resell them at a higher price.

But for things that you actually need in your daily life just a little bit of savings isn’t good enough I feel for the time you would have to invest. Like for this RV I would have personally probably rather pay like say $7000 and get something that doesn’t require all that heavy repair. Because in the end while financially you may save like “maybe” $1000 I would try to imagine how much you lost in time as well. Unless you are doing it as a hobby of sort then that is different.

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