Hi Everyone,

I am hoping that I can get some helpful advice about whether or not to keep my 2001 Land Rover Discovery SE7 with about 118,000 miles on it. I am a Freshman in college and am beginning to debate whether or not I should keep paying for the high gas prices/repair bills. I have replaced most of the parts of the car that are known to fail on these, so I feel that it will hopefully run for several more years without heavy repairs if I do decide to keep it. My parents gave me the car, so I don't have any car payments, only the gas each month. With people talking about gas prices going up up and away, I have been thinking about trading to something reliable and small, which I know would make me pay for both gas and car payment each month. Problem is, this car is worth more to me than anyone else because of the repairs I have done. Are most people planning to keep their Disco through the rising gas prices or are people starting to think about trading? Let me know any thoughts that you might have. Thanks

 

You own an aging luxury vehicle. Repairs are going to be expensive.

But if you're considering buying something else, the math is really simple. Figure out how much less you will spend on gas, and add that to your monthly payment for something new. Chances are very good that number is pretty high. If you can afford that payment and want to keep the Disco, pay YOURSELF rather than a loan company. Put that payment in the bank every month as your repair fund. There's a better than average chance that you will use some of it, but end up with more money in your pocket, possibly even enough to buy something else for cash, by the time you're done with the Disco.

 

All depends on what you are using it for really. If you are commuting with it, then yes... not a great college car. If it is just a weekend car and you know everything is solid, no real reason to get rid of it if this was me. I don't think you would get your money out of it if you sold it anyway being you put a lot of repairs into it.