When does it make more financial sense to fix an old equipment or gadget than buy a new one?

[Trush Jodie]

We all own equipment. They cost money both for purchase and repairs. There are times that equipment break down as well.

When do you think it makes more sense financially to not buy a new equipment but rather fix the one that you already have?

 

[gwolf666]

I believe the decision between repairing or replacing equipment should be based on several factors. In my opinion, if the repair cost is less than 50% of the equipment's value and the equipment still meets our needs, it generally makes more sense to repair it. Additionally, the equipment's age and how frequently it has malfunctioned should be considered: if it's a recent, one-off issue, repairing it might be more economical. However, if the equipment is very old, frequent or expensive repairs could add up to more than the price of a new, more efficient unit. Energy efficiency should also be taken into account, as well as whether the technological improvements of the new equipment justify the investment. In short, if the repair is economical, quick, and significantly extends the equipment's lifespan, repairing is usually the better option; but if malfunctions are recurring or the equipment is very worn, buying a new one might be the smartest choice in the long run.

 

[Kross]

If depreciation has not hit the equipment or gadget and cost of repairs is cheaper, it is better to repair than replace.

 

[Augusta]

When you can fixed it at a low cost but you would use it again for a long period. It would be worth fixing then

 

[eLdavis]

It makes more sense if the equipment is still usable and repairing proves to be cheaper than buying a new one.