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I've done this. You need to go to your local electronic store and ask the guy what options he has (he'll ask you questions about your current VHS, DVD and computer).
In my case, I plugged the VHS into my computer using a Belken lead and then captured the video in the computer, edited a little and then burned a DVD. It was time consuming even though my computer was new. Before you get rid of your VHS make sure you watch the DVD all the way through to ensure sound sychronises well, there is no 'sticking' etc etc. - better safe than sorry!
In your case, you may have a DVD which can already record so it may be something as simple as plugging your VHS into your DVD player.
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