One of the Frugal Living sites I read is Super Saving Tips.
I just read an article they posted about whether to repair or replace. Since I am single and not very handy with a screw driver, this is a problem I face more often than I would like. Although my current woes have been over my old car, this article deals more with common items we use today, as in our electronics, etc.
I took this quote from that article and it will be my new rule of thumb for dealing with repair vs. replace.
Never spend more than 50% of the cost of an item for a repair, and if it’s a second repair and out of warranty, it pays to just replace that item.
Thought you might enjoy this article.