When to buy a new car?

[riooso]

Just remember that your insurance and, if your state is like mine, your state registration is going to increase. The registration might not be a lot in your state but in California $500/year is not uncommon.

That being said, a newer auto may include more safety features than the one that you presently driving. "Itchy" sounds like "Want" instead of "Need"......something that I lost a long time ago when bringing up a family. There is nothing like driving a car that you own. I do not know your economic situation but since you brought up payments that would indicate that you are extending a bit. Take the money that you are "itching" to spend and put it into an account somewhere and just use that money when you do "need" another car.

Not for everybody but I can tell you that being debt free is a weight off your back that is very liberating.


Take Care,
Richard

 

[BBrad]

Not for everybody but I can tell you that being debt free is a weight off your back that is very liberating.

So true . . . the lack of weight on my back makes my twelve-year-old-paid-for Ford Ranger go faster . . .

 

[djm2]

I'm still driving a 1999 Olds Bravada with 190K miles on it. Doesn't burn oil and still runs reasonably well. I too have been getting the "itch" but suspect that my first move will be a visit to my mechanic -- who I trust a great deal -- and ask him to give it a once-over as if I was buying this old beater at Kelly Blue Book price. I suspect that he'll tell me to buy it.

Seriously, though -- bringing in your mechanic to assess the condition of your current car is not a bad option to take before spending too much time looking at alternatives.

 

[Snappy Lunch]

Both of our automobiles are paid for. Both Toyota's, so I'm banking on at least 250,000 miles on each. I would rather keep driving my Corolla and buy a Motorcycle (looking for a early 70's Honda CB750 four).

 

[mandoman]

when your car looks like this

 

[Shantytownbrown]

View attachment 304963
when your car looks like this

point taken! lol

 

[Shantytownbrown]

ok folks, a little update as I resurrect this old thread...

in the last month, I have found out that my 2002 156k mile Pathfinder, may have an oil pan leak, need new tires, and now a major problem with the transfer case, in addition the front end has suddenly become "wobbly", this all as winter has come to a close here in New England...I bring it in for diagnostics on Friday...

I have been asking around, and debating as well with SWMBO, as to how much I should invest in this at this point in its life...body wise, it seems fine, interior, needs new floor mats, and some things tightened, and the glove box is starting to fail as a small plastic retainer clip broke, and the heater/AC fan bearings are going as it rattles when it runs...(these interior things i can live with)

any thoughts so I have a well formulated decisions tree when they call me to tell me what the damage is Friday afternoon?

 

[shavious]

Basically, just determine what you're willing to spend on repairing the car. Take into account a new car means a new payment, not just a one time payment for a repair.

My last car was only worth about $1000 on trade in, but at one point I put almost $800 in repairs into it because $800 one time was better than taking on a $300 monthly payment at the time. We ended up hanging on to that car for another year while saving up a nice down payment for the new car that we bought in November.

So basically, just figure out how much not having a payment is worth to you and start the decision tree from there. Set a solid number at which point the scale tips for you and it should logically work itself out.

 

[GarrettReid]

I had a 2007 Audi A4 I bought in 2010, for about two years. My main reason for trading it in was that it was going to need some serious work to get it to an acceptable state for me. I mean I had check engine lights on, the paint was corroding, new tires, etc. At the same time I was already saving up for a new car by putting away $75-$125 each paycheck, along with any other money I came by. But the amount of repairs needed was going to heavily bite into my savings, while only adding a marginal amount to the trade in value.

So I traded in the Audi for a loss (paid cash) and got a low mileage Range Rover Sport s/c. I worked it out so that the payments were no more than the $75-$125 range I was already saving up.

Now if I could do a redo, I would probably get something a little more practical than a supercharged rover.

 

[Shantytownbrown]

Word from the mechanic...

Rear main seal leak est $1400
Rear suspension linkages bad est $1500
Oil cooler gasket leak est $350
small problem with Transfer switch gearing-minor jam up, fixed for $50
tires and brakes within 3-6 months est $1200

he said I have time to think about it, nothing is a safety problem, but he would do the linkages first, and then think about the oil problems, the rear main seal needs to be done in less than 6 months probably sooner.

hard call, he says things are likely to start going, but he said my car's body and interior are in great shape for age/mileage, he himself was struggling with what to recommend...

looking at the Subaru Forrester, Outback and Ford Escape, maybe a low milage pre-own of something else, but I have to think this over...its so nice not to have a car payment!!

 

[StillShaving]

Good that you have some time to think about it. So that if you decide to get another used car you will have plenty of time to causally shop around and not be pressured into buying.

The way I look at it is that tires and brakes are consumables much like razor blades or soap. They certainly last a lot longer and might change the inflection point on when to make a trade in, but are almost independent items when trying to value your vehicle. Which leaves the first three items as being the most important, but its hard to judge things without knowing how bad these leaks are. I have known people to drive cars with minor leaks for many 10K of miles. Also its unclear what a bad rear suspension linkage means, whether its just worn and not providing ideal service or if its a potential safety issue or breakdown waiting to happen.

 

[Shantytownbrown]

Good that you have some time to think about it. So that if you decide to get another used car you will have plenty of time to causally shop around and not be pressured into buying.

The way I look at it is that tires and brakes are consumables much like razor blades or soap. They certainly last a lot longer and might change the inflection point on when to make a trade in, but are almost independent items when trying to value your vehicle. Which leaves the first three items as being the most important, but its hard to judge things without knowing how bad these leaks are. I have known people to drive cars with minor leaks for many 10K of miles. Also its unclear what a bad rear suspension linkage means, whether its just worn and not providing ideal service or if its a potential safety issue or breakdown waiting to happen.

he said the leaks are not bad now, but will become a problem soon, especially the rear main seal
As for the linkages, they are already causing some poor handling, and he said soon I will begin to loose control around turns, as the rear end will run away from me, he says as long as I drive carefully for now, I will be fine...I was actually told about these a while ago (I forgot about them) now its a must do soon.

I agree fully re: tires/brakes, but the timing couldnt have been worse...I dont want to invest $1200 in tires and brakes for 10-20k (essentially 12.5-25% of their life) just to ditch the car at that point....

I think I will go shopping when I get back from vacation, and if I dont like what I see in my price range, I will put money in my car...250K miles here I come!!

but, on the other hand, I am attatched to my vehicle, its hard to think it go...

 

[Sir Lurkalot]

Check out Toyota's FJ Cruiser. The xterra pales in comparison for off road capabilities. No mods needed. However it's not "tinker" friendly like the Jeeps are.

 

[Antares600]

Personally I keep a car until it just isn't practical to have it. Like for example if it becomes no longer worth the cost of repairs.

 

[Shantytownbrown]

Personally I keep a car until it just isn't practical to have it. Like for example if it becomes no longer worth the cost of repairs.

that's what I am trying to tease out, when is it no longer "worth the cost of repairs"?
Current value of the car according to KBB $2200-3200 in trade and $3200-4200 private sale, so basically i'd be spending what the car is worth to fix it, but not what I'd pay over the next year in car payments...

 

[mark the shoeshine boy]

There is nothing wrong with being frugal and trying to squeeze all the miles out of an automobile or truck that you can. Our side business has a 1995 dodge dakota with over 200,000 miles...I bought it from the original owner with 180k on it. Replaced an EGR valve, one hose, one connector and two bolts-15 minutes...I am not a technician, but since I work at a dealership, the techs told me what to do.

This truck looks pretty good and it does the job.

 

[Dusty1]

Start a new car savings fund now in increments of what a new loan payment would be and keep driving them until its not practical. Best of both worlds, saving money and peace of mind.

 

[Cedar]

2002.
156,000 miles.
4,500.00 in repairs that you know of.
A private sale of 3,200.00 is doubtful with it needing 4,500 in repairs.
Peace of mind is gone at this point.
Time to trade it or sell it. You have got your money out of it.

Put the 4,500 down on another vehicle. Drive it, love it.

 

[Shantytownbrown]

2002.
156,000 miles.
4,500.00 in repairs that you know of.
A private sale of 3,200.00 is doubtful with it needing 4,500 in repairs.
Peace of mind is gone at this point.
Time to trade it or sell it. You have got your money out of it.

Put the 4,500 down on another vehicle. Drive it, love it.

yep, thats what I am gonna do! Test drove a Subaru Outback yesterday...I came to the conclusion that despite living in a town full of Audi's and BMW's that I am a middle class, middle aged dad, who needs a reliable utilitarian car for the snow...I like the Outback, much better than one I test drove for my wife back in 2005

 

[Mick]

yep, thats what I am gonna do! Test drove a Subaru Outback yesterday...I came to the conclusion that despite living in a town full of Audi's and BMW's that I am a middle class, middle aged dad, who needs a reliable utilitarian car for the snow...I like the Outback, much better than one I test drove for my wife back in 2005

You will like the outback. A friendly word of advice. Get a set of White Line racing sway bars for it before you take it from the dealer.

Trust me. You will thank me externally. It will turn it from a mushy wallowing tub into a roller skate that is stuck to the road with magnets.

http://www.whiteline.com.au/index1.php