The online replacement vs repair decision helper

I wrote this tool to help decision-making when you have have to repair or replace something.
It uses a pair of jeans as an example, but it’s meant to be generic. Just replace its parameters and let it calculate.

(I’m assuming as a currency and one as a time unit.
I also assume a %/year growth rate of your assets.)

You are thinking about replacing a:
You have owned pair of jeans for: year(s)
Replacing the pair of jeans would cost you: $
Your pair of jeans is costing you in repairs: $ / year
While the pair of jeans is undergoing repairs, you have a backup plan which costs you: $ / year
Do you feel the pair of jeans at risk of a major, catastrophic, sudden failure?
Not really.
Possibly… but maybe an ice cream would cheer me up again. (+5 $ / year)
I think I’ll have to pay a couple of fine dinners if that happens. (+50 $ / year)
Well, that would cost me about $.
Would a new pair of jeans have significant advantages, or technological advancements, over the old one?
Not really. I’m kind of emotionally bonded to the old one.
For starters, it wouldn’t look old. (+15% value over the old one.)
It has an improvement or two. (+30% value over the old one.)
The new one is way better! (+% value over the old one.)
  • Jerry

    The calculator is well done, thanks for making this. One thing that might add to the utility would be to allow for inputting estimated maintenance costs for the new/replacement item. For example, a new car would not just cost whatever the initial purchase price divided by the # of years of anticipated ownership, but would also have annual maintenance costs associated with it.

    Granted, I could just add that amount into the “cost” of the new car in the calculator above, so perhaps it’s not needed. Either way, this was useful, thanks.