While there is some truth to that however. there are variables in everyone's lives that can factor in to calculating their $/time ratio. Me personally, I've come to the point where I choose to only work 3-4 days a week. 3 day weekends are standard. The kids are gone so my time is my own. I have evenings and weekends for hobby time so I don't relate repairing my car with cutting into leisure time, how much money I could be making, and whether it's more cost effective to hire it out. I look at it more like going to the grocery store, mowing the lawn or clearing snow from the driveway. It's just something that life requires occasionally. But that's just me.
Shouldn't repair costs be added instead of subtracted? I fundamentally disagree with calculating the current value in also as vehicles are not generally "investments". If you are a collector of antiques or a retailer of cars, sure that would be a consideration. But, I probably analyze too much