Should I upgrade my beat up car?

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driftingaway
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Should I upgrade my beat up car?

Post by driftingaway » Wed Oct 05, 2016 8:11 pm

I have been driving a 2002 Toyota Corolla that I bought used in cash in 2008. It still runs just fine, I lost some acceleration after some engine trouble some years ago but after repairs, its been chugging along. I have about 150K miles on it. The car looks like a bit of a beater - the paint is shot, its picked up some pretty serious dings after a number of city winters, the interior is no longer new and shiny, seats are getting a little rough look, etc. However, it continues to be a reliable car that I don't mind driving.

I come from a family where cars are driven until the engine falls out, and I had always sort of assumed that would be the case for me. I'm not really a car guy and I frankly hate spending money on vehicles. There are however two aspects that are giving me pause:

1) I was recently promoted into a management position (I'm a youngish engineer). For the first time, I am starting to feel some embarrassment when I've needed to give a ride to one of my employees, or worse my boss. This doesn't happen frequently, but its worrying me a little that it doesn't set the right tone. This was never a concern for me before, if anything it was a point of pride. This certainly isn't the kind of work place where I'm going to be looked down on for not driving a Mercedes, but I am beginning to wonder if a tiny bit more conspicuous consumption would be prudent.

2) The Takata airbag recall really made me take a look at vehicle safety. The airbags are arguably replaced and safe now, but it made me take another look at how safe my car is. There is no arguing that this car is less safe than almost any new car with a modern safety system. I'm of course worried about my wife and I's safety, but I'm also worried about how my being injured in a car accident (I drive about 1-1.5 hours a day in heavy, fast moving traffic) would impact us financially. I'm pulling down a comfortable six figures, and losing out on any earnings now would seriously hurt us long term. I'm beginning to look at a safer car as in some ways an insurance policy.

This is really throwing me for a loop, I don't really want to buy a new car, I have a car that works fine. Does anyone have any recomendations for how to mentally compare the 'semi-necessary conspicuous consumption of climbing the corporate ladder' with the significant expense of car ownership. Also, do any of the car people out there have any recomendations? Safety, affordability and ability to blend in with other upwardly ambitious people would be more or less what I'm looking for.

mortfree
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Re: Should I upgrade my beat up car?

Post by mortfree » Wed Oct 05, 2016 8:14 pm

Honda Accord or Toyota Camry, used.

SUV: Honda CR-V, used

or consider a paint job on your corolla.

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Watty
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Re: Should I upgrade my beat up car?

Post by Watty » Wed Oct 05, 2016 8:40 pm

mortfree wrote:Honda Accord or Toyota Camry, used.

SUV: Honda CR-V, used
+1

Opinions differ but a new one would make sense because they depreciate so slowly that the price of a three year old one with 40,000 miles does not cost all that much less than new.

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NYC34
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Re: Should I upgrade my beat up car?

Post by NYC34 » Wed Oct 05, 2016 9:03 pm

I just went through this myself.

I drove a 2000 compact car that was falling apart, promoted in to management (boss commented on old car) and finally purchased a 2013 Civic EX-L with 40,000 miles. I paid $12,000. I am very happy with my decision. I feel like I am driving a brand new car and am proud to drive it and have people see it.

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snowshoes
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Re: Should I upgrade my beat up car?

Post by snowshoes » Wed Oct 05, 2016 9:12 pm

-deleted- edited below.
Last edited by snowshoes on Wed Oct 05, 2016 11:21 pm, edited 1 time in total.

orca91
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Re: Should I upgrade my beat up car?

Post by orca91 » Wed Oct 05, 2016 9:16 pm

Trade it in for a 2012 Corolla and call it good.

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jabberwockOG
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Re: Should I upgrade my beat up car?

Post by jabberwockOG » Wed Oct 05, 2016 9:25 pm

There is absolutely no need to be ashamed of driving a nicely maintained well kept clean older car. Someone that drives a poorly maintained beat up worn out dirty car (especially the interior) is another story.

If your car is presentable and clean but just old then I suggest you keep it clean, maintAin it by the book, and just keep driving it. Otherwise get a 3-4 year old low miles Camry or Accord and take good care of it.

Topic Author
driftingaway
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Re: Should I upgrade my beat up car?

Post by driftingaway » Wed Oct 05, 2016 9:29 pm

Its finding that line. e.g. the plastic on the interior door handles is coming off and it sometimes will cut you if you open the door too quickly.

Its not exactly a maintenance issue, but its also not a terribly good impression to have to warn people that the car might try to cut them.

simplextableau
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Re: Should I upgrade my beat up car?

Post by simplextableau » Wed Oct 05, 2016 9:37 pm

I was in your shoes. I replaced my car. If you look at the statistics comparing cars across model years, there's no question that newer cars are substantially safer. Plus the cost of purchasing a newer car isn't *that much* when you plan to keep it for another 15 years again. Your advantage is that you're selling your car while it still has some reasonable value, and if you buy a two or three year old used car from a private party like I did, you can purchase at the sweet spot for depreciation and then just keep it for 10-15 years.

Over the past few months, I read all the cross-model year studies on safety that I could find. There is a significant safety gap between 15-year-old cars and modern cars. There is no shame in purchasing a newer car for that purpose. I spent probably 100 hours trying to figure out what "safe" car I could purchase that would be reasonable. I looked at the raw data in the crash test reports. There are a number of two and three year old cars that do not perform well on the small overlap front crash test.

I ended up with a car which aces all the current IIHS tests.
Last edited by simplextableau on Thu Oct 03, 2019 11:35 pm, edited 1 time in total.

EJS22
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Re: Should I upgrade my beat up car?

Post by EJS22 » Wed Oct 05, 2016 9:41 pm

I'm in the same boat with an older civic but higher miles. Literally having people tell me I need a new car :oops:

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snowshoes
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Re: Should I upgrade my beat up car?

Post by snowshoes » Wed Oct 05, 2016 9:45 pm

driftingaway wrote:Its finding that line. e.g. the plastic on the interior door handles is coming off and it sometimes will cut you if you open the door too quickly.
Its not exactly a maintenance issue, but its also not a terribly good impression to have to warn people that the car might try to cut them.
:P Thats what color coded duck tape is for! However todays WSJ claims auto's sales are in a trough, should you not have read the linked pages above concerning auto savings wisdom and agree
viewtopic.php?f=2&t=119712&start=50 Additionally: http://www.thetruthaboutcars.com/2010/0 ... ontenting/
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bottlecap
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Re: Should I upgrade my beat up car?

Post by bottlecap » Wed Oct 05, 2016 9:48 pm

Get something you can have a little pride in. But take care of it and repair stuff that breaks. There's no reason paint should be peeling on a 2002 and the interior should be a danger to anyone!

JT

health teacher
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Re: Should I upgrade my beat up car?

Post by health teacher » Wed Oct 05, 2016 10:04 pm

Don't stress too much either way. Sounds like you're in a good spot. Intelligently upgrade.

finite_difference
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Re: Should I upgrade my beat up car?

Post by finite_difference » Wed Oct 05, 2016 10:44 pm

If you upgrade, definitely go for a car with high safety ratings and side air bags. And consider automatic emergency braking. By getting a newer car you'll also get ESC. If you get all these features I think you can definitely rationalize it as a safety upgrade :)
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh

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sunny_socal
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Re: Should I upgrade my beat up car?

Post by sunny_socal » Thu Oct 06, 2016 12:20 am

Let me be the first to say "Just get a new Honda or Toyota." They're very close in price to the used versions. At this point in life it's really not that much of a splurge to get a _tool_ that can get you and your passengers safely around town.

I drove a beat up old car once upon a time, the interior was falling apart, the AC didn't work so I kept the windows down. I took my boss out to lunch and asked "Are you cool enough?" He said "I can't hear you, it's too loud in here!!"

Bought a new car the next week :mrgreen:

letsgobobby
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Re: Should I upgrade my beat up car?

Post by letsgobobby » Thu Oct 06, 2016 1:45 am

2002 isn't all that old - I drive an 06 Toyota and feel like it's in great shape, though not super clean. I'm about to do $800 worth of preventative maintenance to keep it going another 50k miles and 3 years.

But my 06 has ESC. Does your 02 have ESC? Especially in a place with bad winters, getting ESC is worth it and if you can afford a newer car, I'd go for it before the snow and ice arrive.

sambb
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Re: Should I upgrade my beat up car?

Post by sambb » Thu Oct 06, 2016 5:19 am

a new-ish honda accord or camry is never the wrong answer in your situation. never.

The Wizard
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Re: Should I upgrade my beat up car?

Post by The Wizard » Thu Oct 06, 2016 5:39 am

Another question is: how big is your New Car Replacement Fund?
(Not your Emergency Fund.)

My preference is to buy new and keep for ten years. Most recent acquisition was bought last December, replacing vehicle bought Feb, 2004, so almost 12 years there.
Other car bought new March 2009, so another three years before possible replacement.
Better to have a plan like this vs driving it until the floorboards rot out...
Attempted new signature...

surveyor
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Re: Should I upgrade my beat up car?

Post by surveyor » Thu Oct 06, 2016 6:11 am

I drive a presentable 2005 trailblazer that just won't die. I'm also one of the owners of a firm of about 30 employees. One of the other owners has an early 2000ish Outback that he keeps going. I'm at the point where I don't give a crap what people might think. If you're not there yet pick something else up.

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just frank
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Re: Should I upgrade my beat up car?

Post by just frank » Thu Oct 06, 2016 6:28 am

I was in similar position, driving two cars with a combined age of 19 years (the wife got the newer one).

I finally said enough is enough, and we got two newer (cheap) cars 2-3 years ago. No regrets and feel MUCH safer.

adamthesmythe
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Re: Should I upgrade my beat up car?

Post by adamthesmythe » Thu Oct 06, 2016 9:33 am

> I am starting to feel some embarrassment when I've needed to give a ride to one of my employees, or worse my boss.

Just tell everyone that you only drive the Porche on track days.

alfaspider
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Re: Should I upgrade my beat up car?

Post by alfaspider » Thu Oct 06, 2016 10:05 am

If it's not a financial stress, I think safety is a legitimate reason to get something newer.

cannondale
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Re: Should I upgrade my beat up car?

Post by cannondale » Thu Oct 06, 2016 10:17 am

I got a brand new 2014 honda accord lx, which is the base model. The Honda drives way better than a Toyota.

With the new Honda, you can get a lot for the money. It has active noise cancellation tech, too. And as another poster said, it received one of the best safety crash test ratings. I live 5 miles from work but put about 14000 miles on my car per an. IF you drive <70 mph, you can get around 37-38 mpg on the hwy.

I bought it for $18900 +TTL. But I think you can knock about 300-400 off that price with a little bit more negotiation.

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El Greco
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Re: Should I upgrade my beat up car?

Post by El Greco » Thu Oct 06, 2016 10:35 am

Yes. It's time for a new car. Add Subaru and Mazda to your consideration list, as they are becoming the new Toyota and Honda. Reliable and well-engineered. You can still be frugal and sensible but not have to drive a beater. I grew up under very modest circumstances and owned several beaters until I was able to afford my first new car. Never regretted it and never went back. Mind you, I drove that car for 10 years (Acura Integra). My subsequent vehicles (Subarus and Mazdas) were all driven for seven years max and traded in while they still had some value. They all looked good, were reliable, had reasonably modern tech and safety features, and were never an embarrassment in a business or social situation. After my first new car, The Acura, I promised myself I would never drive an old rust bucket again that needed constant repairs, rattled, and made me hesitate to take it strange places because I would fear for a breakdown. Yes, I'd save some money by driving a crappy, old car until it dies, but in my case something inside me would die a little too. I work hard. I save. I deserve it. :mrgreen:

miles monroe
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Re: Should I upgrade my beat up car?

Post by miles monroe » Thu Oct 06, 2016 10:39 am

a car is like a baseball player; better to trade em a year too soon rather than a year too late. i also keep my cars until the wheels fall off; unfortuneatly i usually keep em a year too long.

13 year old car, got some issues ya don't like about it -- time for an upgrade.

surfhb
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Re: Should I upgrade my beat up car?

Post by surfhb » Thu Oct 06, 2016 11:11 am

I bet a small payment to a local body guy on Craigslist and some elbow grease on your end, the car will look like new. :)

I think you're going a little overboard on the safety point. Just driving a vehicle on the highway is a risk.
Last edited by surfhb on Thu Oct 06, 2016 11:32 am, edited 1 time in total.

SouthernCPA
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Re: Should I upgrade my beat up car?

Post by SouthernCPA » Thu Oct 06, 2016 11:28 am

I'm a CPA that works with a bunch of cheap accountants. We take pride in how many miles we can squeeze out of a car. I'm proud of my high mileage toyota truck and plan on keeping it as long as I can. Our clients don't care and I certainly don't worry what my coworkers think.

FWIW, I know several engineers who own firms with employees. All of them drive old cars and no one really cares. Engineers and Accountants sort of share the same luxury of the public not expecting us to drive a certain car, own a certain type of house, etc. My lawyer and doctor friends can't say the same. You wouldn't believe the social pressures those guys have.

jrhampt
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Re: Should I upgrade my beat up car?

Post by jrhampt » Thu Oct 06, 2016 11:52 am

I have a 2001 Toyota Echo that is starting to accumulate some issues and looks pretty beat up. I decided it was time and got a 2013 Honda Fit this week. I found a lightly used one with 36k miles on it for $7200, so it's not breaking the bank. It's worth it for the peace of mind, although I could probably get another 100k miles out of the Echo if I absolutely had to. I like to buy used compacts with low miles and keep them for 10+ years.

alfaspider
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Re: Should I upgrade my beat up car?

Post by alfaspider » Thu Oct 06, 2016 12:02 pm

surfhb wrote:I bet a small payment to a local body guy on Craigslist and some elbow grease on your end, the car will look like new. :)

I think you're going a little overboard on the safety point. Just driving a vehicle on the highway is a risk.
Everything in life of a risk, but you are MUCH more likely to survive a collision in a modern 2016 car than a 14 year old compact car. With electronic stability control and other modern electronic age, you are also less likely to be involved in a collision in the first place. For a healthy guy in his 20s not involved in organized crime or drugs, a traffic accident is the #1 cause of early death.

stoptothink
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Re: Should I upgrade my beat up car?

Post by stoptothink » Thu Oct 06, 2016 12:19 pm

alfaspider wrote:
surfhb wrote:I bet a small payment to a local body guy on Craigslist and some elbow grease on your end, the car will look like new. :)

I think you're going a little overboard on the safety point. Just driving a vehicle on the highway is a risk.
Everything in life of a risk, but you are MUCH more likely to survive a collision in a modern 2016 car than a 14 year old compact car. With electronic stability control and other modern electronic age, you are also less likely to be involved in a collision in the first place. For a healthy guy in his 20s not involved in organized crime or drugs, a traffic accident is the #1 cause of early death.
Totally unrelated, but the best way to minimize this risk is to drive less. Just speaking to my situation, we have a single 9yr old 2-door subcompact as our "family vehicle". We get people (primarily our parents) all the time telling us it isn't safe for our family, that we need to buy another or a larger car. Personally, I don't see how a 9yr old car which is well maintained is inherently unsafe, but more importantly we have mitigated this by hardly driving at all. Who is more likely to be injured in a car accident, my mother who drives her brand new large sedan 400 miles/wk or my family who drives the 9yr old subcompact <50? For the most part I think the discussions about buying a new car because they are inherently so much safer are way overblown unless it is very old and/or not well maintained; how much and how you drive are by far the greatest factors.

That being said, in the OPs situation I'd probably hold onto the current car (I think the "pressure" to drive a nicer car based upon work environment is bizarre and usually an excuse to justify a want), but buying a newer one isn't a bad idea at all. You've gotten your money's worth, make a personal decision about whether or not you want a newer car.

MrDrinkingWater
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Re: Should I upgrade my beat up car?

Post by MrDrinkingWater » Thu Oct 06, 2016 12:34 pm

There are a lot of great answers above. I think your commute is long enough for you to consider getting a newer safer and nicer car and do so with a clear conscience.

I recall reading once (but I can't find a verifiable good link now) that one threshold that could be used to decide when to sell an older car was whether or not was the repair and maintenance expenses exceeded a certain dollar value (say $2500) during the current year. If you think you are likely to spend another $2500 on repair and maintenance next year, the car is no longer a "keeper". If you know what that dollar figure is for you, it might make it easier for you to go ahead and get a different better car.

furnace
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Re: Should I upgrade my beat up car?

Post by furnace » Thu Oct 06, 2016 12:48 pm

Here's some safety upgrades that don't involve buying a new car:

1. Keep your eyes on the road.
2. Keep your distance from other vehicles.
3. Keep a reasonable speed.
4. Keep night time driving to a minimum.
5. Stop completely at stop signs and red lights.

The biggest safety feature is the driver. Learn safe driving habits.

alfaspider
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Re: Should I upgrade my beat up car?

Post by alfaspider » Thu Oct 06, 2016 12:57 pm

furnace wrote:Here's some safety upgrades that don't involve buying a new car:

1. Keep your eyes on the road.
2. Keep your distance from other vehicles.
3. Keep a reasonable speed.
4. Keep night time driving to a minimum.
5. Stop completely at stop signs and red lights.

The biggest safety feature is the driver. Learn safe driving habits.
Sure. But you can drive safe in a new car too, and you will be safer than if you drive the same way in an old car. I'm not saying you need a new car ever 3, or even 10 years for safety. But when you are talking about a 15-year old compact car, I think it starts to become a legitimate concern.

I have a vintage car in addition to my daily driver. I'm fully aware that it is a dangerous proposition compared to my daily- which is why I would never daily drive it.

TRC
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Re: Should I upgrade my beat up car?

Post by TRC » Thu Oct 06, 2016 4:04 pm

It sounds to me like:

- You're embarrassed by the condition of the car, especially in front of co-workers and management
- It's outdated in terms of safety
- It's sluggish

BUT...
- You feel pressured to keep it based on family history
- You can afford a new(er) car, but you have an aversion to spending money on cars

My 2 cents, it's time for a new car.

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M_to_the_G
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Re: Should I upgrade my beat up car?

Post by M_to_the_G » Thu Oct 06, 2016 4:12 pm

jabberwockOG wrote:There is absolutely no need to be ashamed of driving a nicely maintained well kept clean older car. Someone that drives a poorly maintained beat up worn out dirty car (especially the interior) is another story.
What does it say about someone if they drive a poorly-maintained, beat up, worn out, dirty car (especially the interior)?
"It’s basically the plot of 'Charlie and the Chocolate Factory.' If you stick around, doing nothing, while everyone around you ****s up, you’re going to win big." - John Oliver

lemonPepper
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Re: Should I upgrade my beat up car?

Post by lemonPepper » Thu Oct 06, 2016 4:57 pm

Great discussion. I'm going through the exact same thing. I take my wife's 5 year old car to work if I have to give ride to anybody or somebody is gonna notice my car.

Next year when I have to do smog on my 2001 corolla 210k miles, I will probably donate it. The interior is falling apart and I can no longer make it look acceptable.

While I resent the social pressure to drive a nicer car, perceptions do matter. People are more likely to associate themselves with more "successful" people. Nobody knows the balance in your retirement accounts.

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jabberwockOG
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Re: Should I upgrade my beat up car?

Post by jabberwockOG » Thu Oct 06, 2016 8:24 pm

M_to_the_G wrote:
jabberwockOG wrote:There is absolutely no need to be ashamed of driving a nicely maintained well kept clean older car. Someone that drives a poorly maintained beat up worn out dirty car (especially the interior) is another story.
What does it say about someone if they drive a poorly-maintained, beat up, worn out, dirty car (especially the interior)?

Asking a question to which you already know the answer? That also speaks volumes : )

RudyS
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Re: Should I upgrade my beat up car?

Post by RudyS » Thu Oct 06, 2016 9:02 pm

finite_difference wrote:If you upgrade, definitely go for a car with high safety ratings and side air bags. And consider automatic emergency braking. By getting a newer car you'll also get ESC. If you get all these features I think you can definitely rationalize it as a safety upgrade :)
Agree wholeheartedly. The newer safety features (backup camera, rear cross-traffic alert, blind spot alert, anutromatic emergency braking, are worth a heck of a lot. Love my 2015 Outback with all those features.

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NYC34
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Re: Should I upgrade my beat up car?

Post by NYC34 » Thu Oct 06, 2016 9:19 pm

furnace wrote:Here's some safety upgrades that don't involve buying a new car:

1. Keep your eyes on the road.
2. Keep your distance from other vehicles.
3. Keep a reasonable speed.
4. Keep night time driving to a minimum.
5. Stop completely at stop signs and red lights.

The biggest safety feature is the driver. Learn safe driving habits.
The one wreck I have been in involved sitting behind a car at a red light at 5:00 pm on a Sunday. I was hit by a drunk driver who was going 40+ and did not touch his brakes before hitting me from behind. Not sure your upgrades apply, sometimes spending money gets you upgrades that are worth it (your life).

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stevewolfe
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Re: Should I upgrade my beat up car?

Post by stevewolfe » Thu Oct 06, 2016 9:28 pm

I went through this same thing in 2008 with my 1997 Corolla that had 239,000 miles on it. Ran great, was reliable, interior was in excellent shape, but the paint finish was bad. In the end, I felt I'd really feel stupid if I was in an accident and something that could have been prevented in a new car caused me serious injury or worse. So I got a new 2009 Corolla. 145,000 miles later it was the right decision. Looks good (enough), very safe and economical. Worth every penny.

Teague
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Re: Should I upgrade my beat up car?

Post by Teague » Thu Oct 06, 2016 11:00 pm

jabberwockOG wrote:
M_to_the_G wrote:
jabberwockOG wrote:There is absolutely no need to be ashamed of driving a nicely maintained well kept clean older car. Someone that drives a poorly maintained beat up worn out dirty car (especially the interior) is another story.
What does it say about someone if they drive a poorly-maintained, beat up, worn out, dirty car (especially the interior)?

Asking a question to which you already know the answer? That also speaks volumes : )
Well now, you have made me curious. So what does driving such a car mean, anyway? I'd genuinely like to know.

As for me, I primarily drive a well-maintained, somewhat beat up and worn out (comes with the territory, it has 200K miles on it) usually dirty inside and out (we live in a dusty rural area) car. While we're at it, what does that combination indicate?
Semper Augustus

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sunny_socal
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Re: Should I upgrade my beat up car?

Post by sunny_socal » Fri Oct 07, 2016 12:33 am

Teague wrote: Well now, you have made me curious. So what does driving such a car mean, anyway? I'd genuinely like to know.

As for me, I primarily drive a well-maintained, somewhat beat up and worn out (comes with the territory, it has 200K miles on it) usually dirty inside and out (we live in a dusty rural area) car. While we're at it, what does that combination indicate?
I asked my wife:
- The person doesn't have enough money to afford a nicer car
OR
- The person is cheap.

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M_to_the_G
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Re: Should I upgrade my beat up car?

Post by M_to_the_G » Fri Oct 07, 2016 1:32 am

sunny_socal wrote:
Teague wrote:Well now, you have made me curious. So what does driving such a car mean, anyway? I'd genuinely like to know.As for me, I primarily drive a well-maintained, somewhat beat up and worn out (comes with the territory, it has 200K miles on it) usually dirty inside and out (we live in a dusty rural area) car. While we're at it, what does that combination indicate?
I asked my wife:- The person doesn't have enough money to afford a nicer carOR- The person is cheap.
She's got me pegged, anyway. I am cheap. I can, however, afford to drive whatever car I want. But in the case of my car, I simply don't derive any satisfaction from impressing others, certainly not Jabberwocks, which as we all know, we must beware...
"It’s basically the plot of 'Charlie and the Chocolate Factory.' If you stick around, doing nothing, while everyone around you ****s up, you’re going to win big." - John Oliver

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jabberwockOG
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Re: Should I upgrade my beat up car?

Post by jabberwockOG » Fri Oct 07, 2016 7:00 am

M_to_the_G wrote:
sunny_socal wrote:
Teague wrote:Well now, you have made me curious. So what does driving such a car mean, anyway? I'd genuinely like to know.As for me, I primarily drive a well-maintained, somewhat beat up and worn out (comes with the territory, it has 200K miles on it) usually dirty inside and out (we live in a dusty rural area) car. While we're at it, what does that combination indicate?
I asked my wife:- The person doesn't have enough money to afford a nicer carOR- The person is cheap.
She's got me pegged, anyway. I am cheap. I can, however, afford to drive whatever car I want. But in the case of my car, I simply don't derive any satisfaction from impressing others, certainly not Jabberwocks, which as we all know, we must beware...
My point was that old car or new car, people that take care of their car and keep the interior clean despite it being old and worn have nothing to be ashamed of at work - in fact most folks would respect that behavior and level of care.

I have also seen plenty of relatively new low mile cars that are disgustingly dirty inside. I don't really know what it means or understand it, but I do know that old or new, a car with a beat-up dirty interior produces bottom of the barrel value. When dealers take them in trade, they go straight to the auction.

Jack FFR1846
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Re: Should I upgrade my beat up car?

Post by Jack FFR1846 » Fri Oct 07, 2016 8:24 am

Buy some cans of plastidip and "paint" your car with it. It'll be the new, hip matte finish in any color you want. Heck, you can 2 tone it or add racing stripes. WoooHooo
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cjking
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Re: Should I upgrade my beat up car?

Post by cjking » Fri Oct 07, 2016 8:45 am

I used to drive more than two hours a day in frugal cars. Now I'm retired, having saved more than necessary, so don't need to be frugal, so have a nice new car. It sits in the garage, quietly depreciating. Used less than once a week on average, as I no longer need to drive to work. :oops:

If I could send money back in time, I'd buy my younger self a nicer car to spend more than two hours a day in. (I can't say he was wrong to be frugal though, he didn't know he'd become me until he did, and he legitimately prioritised financial independence ahead of spending.)

wfx
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Re: Should I upgrade my beat up car?

Post by wfx » Fri Oct 07, 2016 9:54 am

I used to look for used cars or entry level new cars. Not anymore. My wife and I just bought a new Sienna with almost all the bells and whistles. Why? Because we are no longer young. If we keep the car for 10-15 years as intended, there will only be maximum 3 new cars (including this Sienna) for each of us in our life time (based on average US life expectancy). In the end, it was an easy decision.

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lthenderson
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Re: Should I upgrade my beat up car?

Post by lthenderson » Fri Oct 07, 2016 10:19 am

When I was part owner of a company, I considered it a badge of honor to drive my old beater car (which I still have now five years after cashing in my stocks and leaving) to work when other's below me drove much nicer cars. I always felt that it provided comfort to the workers that I was looking after them rather than spending profits on shiny new vehicles. If I had to go on a business trip, I just took one of the company cars or a rental to provide the look to other companies we had to deal with.

wrongfunds
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Re: Should I upgrade my beat up car?

Post by wrongfunds » Fri Oct 07, 2016 10:25 am

Only used Honda/Toyota worth buying is an old one. Financially it makes zero sense to purchased slightly used Honda or Toyota. If you shop carefully, you can buy brand new instead for just slightly more money once you make use of all the incentives which are available on the new car but none on the used car.

runner3081
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Re: Should I upgrade my beat up car?

Post by runner3081 » Fri Oct 07, 2016 10:52 am

driftingaway wrote: For the first time, I am starting to feel some embarrassment when I've needed to give a ride to one of my employees, or worse my boss. This doesn't happen frequently, but its worrying me a little that it doesn't set the right tone. This was never a concern for me before, if anything it was a point of pride. This certainly isn't the kind of work place where I'm going to be looked down on for not driving a Mercedes, but I am beginning to wonder if a tiny bit more conspicuous consumption would be prudent.
I stopped caring what people think and proudly drive my car with missing clear coat. I manage a fair number of employees and they all have nicer looking cars than me.

On one side, people could think that you drive a crappy car and don't know how to manage your money. The flip side, you drive a nice car and maybe don't need that big pay raise :)

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