When To Retire The Old Car?

[jyl]

When do you guys say its time to haul out the shotgun and terminate the old car?

My 1995 Range Rover has become a really expensive vehicle to maintain. Last week it ate a CV joint and maybe more while up in Yosemite, I got to enjoy the $450 flatbed journey back to the Bay Area and lose a precious day of vaca. Arrgh.

My problem is, I only buy used cars, and I buy them for cash. No financing. So shooting old Bessie and buying something more reliable means spending $20K out of pocket, not the best time of year for me to do that . . .

Maybe I need to give in and actually buy a new car with financing. Rented a Nissan Pathfinder to finish the vaca, gee that was a pretty nice vehicle and it's not even anything special as new cars go.

What's your rule? Do you only drive new warranteed cars, or are you willing to pump maintenance dollars into old ones? (Not referring to P-cars here, just to the daily driver aka wifemobile.)

[Dantilla]

Originally posted by jyl

Maybe I need to give in and actually buy a new car with financing.

NOOOOOO!!!!!!!!!

I also buy only used cars with no financing. There are plenty of good used cars out there. no need for you to take the huge depreciation hit.

Hearing somebody say they are going to finance a new car makes my ears hurt!

[RickM]

Originally posted by jyl
I got to enjoy the $450 flatbed journey back to the Bay Area and lose a precious day of vaca. Arrgh.

Perhaps your insurance policy will cover a one way tow. Many do.

[Joeaksa]

If you are going to have an older car, get AAA if you are traveling with them. The $35 a year is well worth it.

I only have older cars (with one exception) and like you will not buy new. Will not/cannot take the large depreciation hit that they take the first couple of years. Nothing wrong with a car that is a few years older if its in good shape.

[IROC]

Originally posted by jyl
What's your rule? Do you only drive new warranteed cars, or are you willing to pump maintenance dollars into old ones? (Not referring to P-cars here, just to the daily driver aka wifemobile.)

I buy used Toyotas for daily drivers and wifemobiles. :>) We bought the current wifemobile (2001 4Runner) two years ago for about half what it sold for new and financed it with a loan from my company savings account (I paid myself back the interest...). Paying cash is not an option for me...

Buying a Toyota typically mitigates the need to pump maintenance dollars as they seem to run forever. I've had two that had over 175k miles when I sold them and they were still reliable at that point.

Mike

[dd74]

I've always thought of the ubiquitous Japanese car as exactly that -- ubiquitous, and thus, disposable. There are a few exceptions, of course, but something like a used Honda SUV, Toyota or Nissan, is just a car. So I'd also buy used if you need an SUV, but only those three.

I wouldn't touch anything American or European if used. They could have too many prior-owner issues for my peace of mind.

[jyl]

Used AAA Plus for first 100 miles, then $6/mile for the last 75 miles. Ouch. Sitting in a hot tow truck for 4 hours, then renting a car and driving 3 hours back to resume my vaca. Ouch. Just ouch all around.

The debate is whether we keep the Rover for an extra vehicle to haul lots of people and take roadtrips, thus freeing us to buy the wife a compact car w/ 40 mpg for her daily driving. I can repair and maintain the Rover myself, if it is an extra car and can sit around for a week or two until I can get around to it - kind of like the 911.

Or do we shoot it in the head and spring for a minivan / station wagon / SUV thingy.

I'm leaning toward the former. But right now, I'm mad enough that it would feel nice to pull the trigger

[Z-man]

I bought my 1995 Subaru Legacy new back in the fall of 1994. Right now, I have 185,000 miles on the clock, and have not had a significant problem with it since day one. (And I haven't maintained it as well as I should have...) Car was paid of back in 1999, so every day I've been driving it since, it's like putting money in the bank! The car owes me nothing.

Granted, I could have bought a similar car in the used car sector for far cheaper, but buying a used car can be hit or miss - you may get a terrific deal on a solid car, or you may be getting someone else's lemon. While there are new cars that are lemons as well - that's what warranties are for, as well as lemon laws.

I feel that if you're going to buy a daily driver type car and keep it for a long time, buying new may offer you a more stable platform to work with.

Oh, my P-car I bought used, while my wife's daily driver, a new Beetle Turbo, was bought new.

Just my $0.42,
-Zoltan.

[id10t]

If you can do the self fixing deal, then I'd say do it that way. Only concern would be increased insurance costs - unless you can get a really great rate on a vehicle that isn't driven too often.

[gaijindabe]

Used cars are fine and a second hand Toyota is about the lowest cost per mile vehicle you can own.

The problems start when you buy an old Range Rover, Jag, Audi and etc.. As they say "the best new cars make the best used cars.."

[mschuep]

You can usually get certified pre owned cars if they're not too old. I'm not saying they're the best cars out there, and you'll undoubtedly pay a bit of a premium, but you can get the remainder of the warranty if there is one, and you know that the PO has gotten the oil changed and taken it to the dealer to at least attempt to keep it in good working order. +1 for Toyota

[RPKESQ]

I will only buy used cars. As for vacations, I always rent a car to go any distance. Except when I'm taking my 930!

[kaisen]

Retire the old car when the repair cost exceeds half its replacement value. Your $3000 car needs a $1800 transmission?... time to junk it.

By the way, if you've noticed, good used cars are getting much more expensive. A friend just sold their 1997 Toyota Camry LE 4 cylinder with 176K miles on it for $4500. We just sold a 1992 Saturn SL2 with 177K, warm a/c, and a rapping timing chain for $1200 and had over 100 calls in four days.

E

[Laneco]

I've always had used cars. I buy them cheap, fix them and drive them. When I sell them it's for more than I paid for them even if I drove them for years.

Bought my first nice new car two years ago. I got a new job with a significant pay increase plus a $500 car allowance. Further, they buy all my fuel. So I splurged and bought a nice new family car - the payment and insurance combined are less than my car allowance plus all the fuel is paid. I must say, pretty nice to have a new car.

But I chose the new car based largely on my used cars... One of my favorite used cars was a 1993 Mazda 6 with the V6. I bought it with 272,000 miles on it. Original everything. Put a clutch in it immediately. Nothing else but tires, oil changes and gas. Drove it for two years, Steve and I devoted a weekend to paint it and sold it with 298,000 on the clock for $3000. Passed emissions, ran like a champ. Strong car. Based on that car's performance, I bought another mazda with the ford/mazda duratech V6.

Any toyota will go 250,000 miles plus. Had a old Tercel with 360,000 on it - gutless wonder but really honest good running car. We sold that one 7 or 8 years ago and its STILL driving around town. The car that would NOT DIE...

Buy used, but stay away from american (unless its actually ameri-japanese), way way away from anything european. Let a Toyota be your FIRST used car choice. angela

[kaisen]

It doesn't matter whether it is Japanese, Korean, American, or European.

Is the '01 Toyota Corolla better than the '01 Chevrolet Prism?
Is the '04 Toyota Matrix better than the '04 Pontiac Vibe?
Is the '06 Mazda 6 better than the '06 Ford Fusion?
Is the '05 Honda Pilot better than the '05 Saturn VUE V6?
Is the '05 Subaru WRX better than the '05 Saab 9-2x?

You get my point (They're all the same).

Buying a used Toyota Camry is a safe bet (mine has 208K miles) but you'd better believe you are paying for it up front compared to the American equivalent.

E

[ben parrish]

Go used, I always do. I could never stomach the hit on new cars. Did it once in my 20's. Buy them cheap, drive for a year or so and sell. Last was a 98 Volvo 850 turbo wagon ($7000 cash). Loved the car and it ran great and would fly. Befor that Olds Bravada ($6000) , Chevy Suburban ($5000) , Nissan Pathfinder ($10,000) , Nissan 300ZX ($11,000) , Chevy Blazer ($7,000), etc., etc..
Look for the "car to have" from 3-6 years ago...uh, don't buy a mini van.
There are fantastic deals on used cars out there. Local paper and look for the yuppie adresses.

[CamB]

You're asking for trouble with a mid 90s Range Rover. I wouldn't be surprised to find they are the least reliable cars of that age...

I mostly drive a '91 Opel Vectra GT - 2 litre 4 door etc. Its a POS, but I'm guessing will last at least 10 more years of minimal expense. Its only done 110k miles and they are apparently good for at least 200.

[slow&rusty]

I have a friend who works at the Range \ Land Rover Dealership in Denver...he always says that he has job security forever and gets paid around $70K...he always has some great stories to share when an owner is presented with a repair bill. He cannot believe how unreliable those '90s and even newer models are....what does he drive a Ford PowerStroke!

Good luck...and don't throw good money after bad....buy Japanese if you want reliable, the 4Runner is a great option for good looks, good value and 200K without missing a beat. The 3.4L quad cam engines are incredible.

Yasin

[126coupe]

I have never made a car payment. My 2 "drivers" have over 200K on them. 1991 420 SEL and a 1984 500 SEC.
I believe the "126" chassis was the last of the true MB's
I do all my own maintainence, these cars are Tanks

[jyl]

minkoff, that is a great idea - I love old MBZs, we drove a W123 for years. If I got another, I'd like to avoid the era of pneumatic actuators, I never could get comfortable w/ troubleshooting those.