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Repairing old car vs. getting new one with payment

Posted: Jul 22, 2015

Hello,

I find myself with a now 15-year-old car that I purchased brand new 15 years ago. I know it has been taken care of, because I'm the only owner. It seems like everything wants to break down at once, but I'm convinced that if I repair as I can, that I can keep it running for another 160,000 miles.

I looked at a shiny brand-new car that would set me back about $200 a month for the next six years. I then looked at my oldie but goodie sitting in the driveway looking like it knew that I was contemplating getting rid of her. I also looked at the non-existent personal property taxes I have because my car is so old and the cheap car insurance I can carry.

I've almost got my mind 100% made up; I'm going to replace my oldie but goodie. It's hard to turn down that shiny pretty car, but I also would have a hard time writing the check for that car payment every month.

I guess my question is, have any of you successfully kept an older car on the road, and for how long, by replacing parts as needed and just giving the car a little TLC? Also, any tip on some DIY replacements that aren't so in-depth that maybe I could handle?

TIA

;

How I Look At It - see msg

[ In Reply To ..]
If I start plunking in 100's or 1000s of dollars often, then it's time to get rid of the bugger. Try and sell it if you can, to at least defray some of the price of the other car. I am NOT a proponent of used cars, but you may have to do that---they may even give you money towards a trade.

And research, research, research even brand new cars. There are lemons out there. I know people who spent $40,000 on a new car, only to find it to be a lemon. Perhaps the $25,000 new car is a better deal. More money spent on a new car doesn't necessarily mean it's a better car.

I would buy a used car from a close friend who I knew would be honest with me.

One thing I like about my 18-year-old car, - besides the fact that its paid for, is - smsg

[ In Reply To ..]
every time an automobile recall due to dangerous defects (exploding airbags or gas tanks, steering defects, etc), or the latest "Huh?" problem - getting its computer system hacked, I'm always glad I drive an old relic that doesn't have any of those fancy things. It does have airbags, but not the exploding shrapnel kind, thank goodness.

I researched Toyota SUVs thoroughly before I bought a used one, and almost to a person, the owners all said the same thing: "Runs forever, all you do is change tires and oil every so often."

Also, it has a REAL bumper - the old-fashioned bolt-on metal kind. A neighbor plowed into it last year, and although the neighbor's car was a mess, mine had only a small ding in the bumper that you had to look closely to even see.

Newer isn't always necessarily better!

Our vehicles - are

[ In Reply To ..]
14 years old and 9 years old. Sure we pay the occasional repair bill BUT after it's paid, it's done. A car payment is like having some kind of repair bill every single month for 5 years! And you know the thrill of new and shiny will wear off in a couple of months and when it's finally paid off, here come the repairs.

We plan on keeping our cars for many years to come. Hate car payments with a passion.

I have a 1997 Honda Civic - I remember it was the first

[ In Reply To ..]
I actually bought and owned myself. It really is a good car; I've always done all the required maintenance and apart from it being stolen (and recovered with a missing ignition) never had any huge costs other than maintenance. But now it has a slow tranny leak that will cost apparently up to $1000. Ouch. So I was contemplating getting a "new" car(prob 4-5 year old one). Then I started getting all misty eyed and sad like I was losing someone very close to me. I decided to keep my car. Is that weird? LOL

I loved my Honda - SM

[ In Reply To ..]
I had a 1988 Honda Civic. I loved that car so much. I too had an expensive repair when it was about 20 years old, replaced the computer unit. I finally had to trade it in for a newer car, but I still miss it. Good memories. I now have a 99 Mitsu, an okay car, just not like my Honda. Wish I could afford another one, maybe someday.

I know a woman who drives a mid-1960's - Chevy Impala. I think its - sm

[ In Reply To ..]
the only car she's ever owned. That big heavy car saved her life one time when, while waiting to make a left turn off a highway, a car rear-ended her at about 50 mph. Instead of getting rid of it, she insisted on repairing it, and even wanted it painted the same faded, tan-ish color it had been before the wreck. That was 20 years ago, and she STILL drives that car! She'll probably keep it her entire life.

Not at all weird - No debt please

[ In Reply To ..]
I thought I had my mind made up the other day to get the new car, and when I woke up the other morning (the morning I was going to make the trade-in), I was actually crying at the thought of my Oldie being crushed at a junkyard or sitting on some lot waiting to be auctioned and looking in the driveway and not seeing it. I mean, goodness, it's been 15 years! I hope she keeps on working for me after I've decided to keep her.

When I had a BMW my father tried to give me his - 60s Chevy, thanks but no thanks

[ In Reply To ..]
Vintage car equals thugs wanting to hijack in this town.

No debt please - My experience

[ In Reply To ..]
for heavens sake, it's a machine! Do you keep your old appliances around for sentimental reasons? Unless it has to be towed away, it won't be crushed at the junkyard and will probably get a good home; one of the service techs at the dealership bought mine, fixed it up and is still driving it. The peace of mind of not breaking down somewhere or not being afraid to take a road trip trumps sentimental value any day, IMO. As an aside, why are cars female gender?

1997 Civic - Honda Girl - my experience

[ In Reply To ..]
I understand why you love your Civic. I just got a new one and replaced my 1994. Take this with a grain of salt, but you need to stop being misty eyed and sentimental over that car, it's probably only worth $1500 or $2000, so you are at the point, like I was, where you are paying more in repair costs than the car is worth. My ABS pump went haywire and was going to cost $1500 to fix plus a bunch of cosmetic stuff (worn carpet, broken stereo, etc.). Unfortunately, Hondas break and there comes a time when we have to say good-bye. I loved my old Civic but I love my new one too. It's your choice to spend that kind of money and keep the car because it's a member of the family, but that tranny leak might only be the beginning of your issues, it happens to all cars when they reach a certain age.

Thanks - No debt please

[ In Reply To ..]
Thanks for all of your replies. I'm going to turn down the new car today (told them I needed few days to think on it). And I'm taking Oldie to the shop for a tune-up and to let the mechanic see what needs to be fixed from the "new noise." I've seen stories where people keep their cars for 250,000+ miles. I've been encouraged. Thank you for helping make my it a little easier to say no to pretty and shiny and yes to practical.

It also helps to have a good neighborhood - mechanic instead of going to a - sm

[ In Reply To ..]
dealership for your repairs. The dealerships try to start selling you a new car when the one you have is only about 3 or 4 years old! A had a truck that was the only brand-new vehicle I've ever owned. I remember one time the seat belt broke the the truck was only 5 or 6 years old, and when I went to the dealership to get it replaced, they claimed it was no longer possible to replace it because the truck was "too old." (I got an aftermarket one, instead.) They also tend not to replace components of parts, but instead want to see you an entire new assembly. This happened when I started having differential troubles (a telltale "clank" underneath when you put it in gear). Dealership wanted close to $1000 to fix it; took it to a rear-end specialist and it turns out it only needed a 79-cent part. All I had to pay for was half an hour's labor. Now I go to a neighborhood all-purpose car shop down the street, where the guy is good, honest, and if he can't fix it, he knows who to send me to.

Funny you mention this - No debt please

[ In Reply To ..]
I'm taking it to a very honest mechanic this morning. He is very fair and explains everything thoroughly. An honest mechanic that doesn't talk to you like you're stupid if you don't understand how a car works is a truly a blessing in my book.

Neighborhood mechanics versus dealers - My experience

[ In Reply To ..]
i had my old car for 20 years, purchased new and used the dealer for everything from day one and never had the experience you relate. I got a second opinion a couple of times but the dealer maintained my car all those years. They keep track of all the service history and guarantee their work, which is something a lot of neighborhood shops won't do. I glad you found someone you trust who doesn't mess things up but sometimes a Perron gets what they pay for. Sorry for the typos in my posts, I'm doing this on my tablet.

I have a 2001 F150 and a 1991 Miata--sm - anon

[ In Reply To ..]
Sometimes I get distracted by the newer vehicles, but, our registration costs are lower on the older vehicles. Our insurance is lower on the older vehicles. They both run and are paid for. Yes, there are repairs to be made but once I pay those repairs off, I am not on the hook any more for a while. If financed for 6 years, there is a chance that the new car could require repairs, too, so then you have a payment and repairs. Another thing that makes me want to avoid a new car is I heard that most new cars need synthetic oil. A synthetic oil change is double the price of a regular oil change.

If I worked outside of the house and needed to commute, I might be more inclined towards a newer car but as it is, I just drive to my kid's school and get groceries for the most part. Dh drives the Miata to the bus stop (a whopping total of 4 miles a day) and then takes the bus for the long commute. If we want to go on a trip, we can rent a minivan which is expensive for the trip but still cheaper than a car payment.

I still have my 2003 car and intend to keep it - as long as possible.

[ In Reply To ..]
One good thing about older cars is that they have fewer of the new computer technologies and are easier to fix with less to break. If I ever have to replace my car, I will not buy new. Yahoo even had an article on what cars to look for if you wanted to avoid all the new technology, which is just something more to fix. Word of mouth in your community is a good way to find a reliable mechanic. And I'm only worrying about what is under the hood, nothing cosmetic.

I have a 1996 Buick Skylark with close to 140,000 miles. I just keep getting it fixed - as long as parts are available.

[ In Reply To ..]
I change the oil, check the fluids, do what I'm capable of doing.

One idea, if you think you can afford it--sm - anon

[ In Reply To ..]
Go ahead and put that $200 a month into savings. Perhaps you could one day pay cash for a car or it might hurt enough to sign that big of a check and you may decide to get something cheaper and have more money in the bank. Either way, more of the money benefits you instead of whoever the interest payment would go to.

that is a wonderful idea! - n/m

[ In Reply To ..]
x

Oldies but goodies - My experience

[ In Reply To ..]
I have always kept my cars for a long time. I recently replaced my 20 year old Honda I with a brand new one. It had about 170K and exile it ran, adding up all the things I potentially needed to do, it was more than the car was worth, which is always something to consider when deciding to hang onto n older car. Also, new cars have more safety features than they did 15 or 20 years ago. I got quite a few discounts on my insurance and it really did not go up very much. However, I had saved about 20% down and qualified for a really low interest rate. I understand wanting to keep your payments low, but I would suggest a 4 year or 5 year loan at the most, you'll save a bundle in finance charges. You also run the risk of going upside down and owing more than the car is worth if your term is too long and the car doesn't hold its value. I know how to check my oil, etc. but can't do any maintenance myself so can't offer any advice. It's a big decision. I don't miss my old car at all and think I did the right thing but only you can decide if a new car is right for you. Have fun!

What I decided - No debt please

[ In Reply To ..]
The mechanic did a thorough evaluation, and it needed new brakes and rotors, front and back, and the noise it was making was some parts that needed some grease, nothing broken or damaged. I told him what I was thinking of new vs. old, and he told me that my type of car was known to run up to 250,000 miles; mine is right at 160,000. I only drive to town for groceries, appointments. Once a year I might take it for a four-hour trip to visit family. I'm happy that I decided to think before jumping on the new car payment. I appreciate all of the insight here. The saving the money that was going to be car payment money is a wonderful idea. I will start that next month.

Good decision - My experience

[ In Reply To ..]
It is never a bad idea to save some money. I kept my Honda Civic for 20 years but for me I never shed a tear about letting it go; that was the first brand new car I'd ever had Your mechanic is right, cars can last 250,000 miles but that does not mean stuff won't go wrong, some of it expensive to fix. You'll find out if you keep the car, and each trip to the shop will be the equivalent of a car payment or more. I'm not trying to make you change your mind, but you might want to try and determine your car's value and determine how much money you are putting into something that may only be worth a few hundred dollars; you won't get anything if you trade it in or go to sell it. I'm just mentioning this because I just went through this. I did well on my deal, but probably should not have kept that car as long as I did.

you could also rent a car for long trips if - sereneone

[ In Reply To ..]
you are worried about it breaking down on your trip. Don't know about the others but Enterprise is surprisingly affordable, especially if you have decent car insurance and don't need to buy theirs. Recently rented from them and it came out to just over $25 a day.

Enterprise - My experience

[ In Reply To ..]
I have used Enterprise several times before I got my new car and I like them. Our local office is closed on Sundays so that was sometimes a problem returning a car. When I told them what my personal car was, they would try to match me up with something similar or give me an upgrade, I got to drive some nice cars and can be helpful for someone trying to decide what they want. They sell their cars too although rental cars are sometimes driven hard and abused. I never got anything for $25 a day, though but did use my own insurance.

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