Hang on to old car or buy new one?

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fredflinstone
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Hang on to old car or buy new one?

Post by fredflinstone »

My daughter Pebbles is driving a 2010 Acura MDX with 130,000 miles on it. She drives a fair amount. We are not handy, so we take the car to a mechanic for repairs. We are incurring repair expenses of about $1,500 per year for this and that.

I drive a 2017 Honda CRV with about 50,000 miles on it.

Here are my two options. Please help me decide.

Option 1: Status quo.
Continue with the current arrangement, likely incurring gradually increasing repair expenses on the Acura (say, $2,000 per year over the next several years, ignoring routine maintenance). Costwise that isn't bad, but I am starting to worry a little about reliability and Pebbles' safety.

Option 2: Trade in the Acura MDX; give Pebbles the Honda CRV, and buy a new or lightly used car for me. I don't need an SUV anymore. I don't want a fancy car and I don't drive much. I see that I can buy a low-mileage CPO 2018 Hyundai Elantra or 2017 Nissan Sentra for $13,000-$14,000. Suppose I own this car for 5 years, then resell it for $3,000-$4,000. If so, my total cost (assuming no major repairs and ignoring maintenance costs) would be ~$10,000 over 5 years. That's ~$2,000 per year over a period of 5 years.

It looks like the annual cost of the two options would be similar, but Option 2 gives us a newer (and presumably more reliable) car than Option 1. So I'm leaning toward buying a "new" car. Am I missing anything?

We are financially comfortable (debt-free) and would pay for the "new" car with cash.

P.S. Forgot to mention that there are a lot of hail-damaged cars for sale here in Bedrock. So I might be able to get an even lower price on a "new" car.
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ponyboy
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Re: Hang on to old car or buy new one?

Post by ponyboy »

How is the acura costing you $2k/year in repairs? Is it a lemon? That car has low miles and isnt that old...how can it possibly cost that much per year to maintain? I hope you're not including the cost of insurance and fuel.

We have 3 cars...newest is a 2009 with 99K miles, My daily driver is 2008 with 200k miles, and wifes is a 2006 with 100k miles. We rarely have any issues in terms of mechanical. Tires/brakes/rotors...thats about it. If your acura is costing you $2k/year...get rid of it. Something is wrong with it.

Im more amazed on what people consider old cars with high mileage. I have no reason to believe my 200k mile car will sit me on the side of the road over a brand new car. Mechanically, its sound.
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Re: Hang on to old car or buy new one?

Post by Dandy »

I like the idea of giving your daughter your car and you a newer car. Don't forget safety for you or especially your daughter since she drives a lot. Newer models often have improved safety features.
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Re: Hang on to old car or buy new one?

Post by fredflinstone »

ponyboy wrote: Tue May 12, 2020 6:44 am How is the acura costing you $2k/year in repairs? Is it a lemon? That car has low miles and isnt that old...how can it possibly cost that much per year to maintain? I hope you're not including the cost of insurance and fuel.

We have 3 cars...newest is a 2009 with 99K miles, My daily driver is 2008 with 200k miles, and wifes is a 2006 with 100k miles. We rarely have any issues in terms of mechanical. Tires/brakes/rotors...thats about it. If your acura is costing you $2k/year...get rid of it. Something is wrong with it.

Im more amazed on what people consider old cars with high mileage. I have no reason to believe my 200k mile car will sit me on the side of the road over a brand new car. Mechanically, its sound.
Yesterday I spent $660 on new tires, $209 for driveline transmission service, $63 for driveline T-case service, $160 for Rec Rack & Pinion Unit (replacement of a right side bellows boot), $104 for a new oil filter adapter gasket, $20 for valve stem/service kit, $44 for computer spin balance, $12 for tire disposal, $80 for Alignment 4 Wheel Thrust, $10 for battery service, and $10 for a new air filter, among other things. The total for labor came to $574 and the total for parts was $982. Total with sales tax was $1659. Overall, I am happy with the car, but within the past 10 months I've spent more than $3,000 on repairs, tires, and so forth.
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Re: Hang on to old car or buy new one?

Post by fredflinstone »

Dandy wrote: Tue May 12, 2020 7:16 am I like the idea of giving your daughter your car and you a newer car. Don't forget safety for you or especially your daughter since she drives a lot. Newer models often have improved safety features.
Yes, that is what I am thinking. Thanks.
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Re: Hang on to old car or buy new one?

Post by Kenkat »

I would probably go the route of giving your daughter the CRV. The other consideration - you could probably buy a new Camry or Accord, keep it for 10 years and keep your cost down to $2000 a year depreciation while driving a nicer car overall.
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Re: Hang on to old car or buy new one?

Post by emoore »

fredflinstone wrote: Tue May 12, 2020 8:08 am
ponyboy wrote: Tue May 12, 2020 6:44 am How is the acura costing you $2k/year in repairs? Is it a lemon? That car has low miles and isnt that old...how can it possibly cost that much per year to maintain? I hope you're not including the cost of insurance and fuel.

We have 3 cars...newest is a 2009 with 99K miles, My daily driver is 2008 with 200k miles, and wifes is a 2006 with 100k miles. We rarely have any issues in terms of mechanical. Tires/brakes/rotors...thats about it. If your acura is costing you $2k/year...get rid of it. Something is wrong with it.

Im more amazed on what people consider old cars with high mileage. I have no reason to believe my 200k mile car will sit me on the side of the road over a brand new car. Mechanically, its sound.
Yesterday I spent $660 on new tires, $209 for driveline transmission service, $63 for driveline T-case service, $160 for Rec Rack & Pinion Unit (replacement of a right side bellows boot), $104 for a new oil filter adapter gasket, $20 for valve stem/service kit, $44 for computer spin balance, $12 for tire disposal, $80 for Alignment 4 Wheel Thrust, $10 for battery service, and $10 for a new air filter, among other things. The total for labor came to $574 and the total for parts was $982. Total with sales tax was $1659. Overall, I am happy with the car, but within the past 10 months I've spent more than $3,000 on repairs, tires, and so forth.
Most of that is routine maintenance. You'll have to buy tires no matter what car you drive. Same with oil changes and alignments. I would just keep the car if your daughter likes it.
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Re: Hang on to old car or buy new one?

Post by Sandtrap »

Option 3
Swap cars??

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onourway
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Re: Hang on to old car or buy new one?

Post by onourway »

I think either option sounds ok. Realistically though you are swaying the cost analysis by counting the maintenance on the Acura, but ignoring the maintenance that will be required of both the Honda and whatever newer vehicle you buy. As noted, most of the costs you recently incurred were maintenance, not repairs. Those costs will be basically the same for whatever vehicle you end up with.
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Re: Hang on to old car or buy new one?

Post by Watty »

fredflinstone wrote: Tue May 12, 2020 5:45 am likely incurring gradually increasing repair expenses on the Acura (say, $2,000 per year over the next several years, ignoring routine maintenance).
How much could you sell the Acura for now?

You might have years when you need to pay $2K for maintenance but but that seems way too high for an average.

In addition to the non-routine maintenance the Acura would also be depreciating some each year and the monthly combined depreciation and non-routine maintenance may be comparable to the depreciation you would have with a newer car that is unlikely to need much non-routine maintenance. Here is a post where I gave some example numbers for looking at car ownership that way.

viewtopic.php?p=5245950#p5245901
fredflinstone wrote: Tue May 12, 2020 5:45 am Costwise that isn't bad, but I am starting to worry a little about reliability and Pebbles' safety.
Safety features have improved a lot in the last 10 years. Electronic Stability Control(ESC) seems to be a very good safety feature to have and it became required as standard equipment in 2012 so your 2010 Acura may or may not have it. It would be good to check on that.

Having a car brake down at an unsafe place or time is also a safety issue to consider especially for a young woman.

It was also about 2012 when they started doing a new side offset safety test and lot of cars did not do well on that test so many manufactures improved the safety design about then to do better on that test.

In the last few years they have also added a lot of advanced safety features like automatic braking. In 2018 Toyota made a lot of those advanced safety features standard equipment and which is one of the reasons why I decided to get a replacement car a few years earlier than I planned to.
fredflinstone wrote: Tue May 12, 2020 5:45 am I don't want a fancy car and I don't drive much. I see that I can buy a low-mileage CPO 2018 Hyundai Elantra or 2017 Nissan Sentra for $13,000-$14,000.
One of my pet peeves about used cars is the tires since I have had to buy new tires not long after buying a used car. When I bought the car I knew that the tires would not last long but it still stung to pay for tires less than six months after I bought the car. The original tires often don't last a long time so with either of those cars you may need to buy replacement tires in the not too distant future so be sure to budget for that.

It was two years ago but I was able to get a new Corolla LE for a bit over $17K. That was likely a much better than average deal, there is link in the prior link I gave about how I got that deal. With the pandemic I am not sure if there are good deals or not but I would think in normal times it would not be hard to get a new 2020 Corolla LE for around $18.5K and that would likely have a lot more safety features and a better warranty. I am not sure how much cars like the Civic are selling for now.

https://www.kbb.com/toyota/corolla/2020/le/#survey

You could then keep it a lot than longer than five years.

I would shop hard for a new Corolla or Civic to see if I could get a good enough deal to make those a better choice than the used cars you are considering. If it works out the cost per year could be comparable and you would get better safety features and a better warranty.
Last edited by Watty on Tue May 12, 2020 9:17 am, edited 1 time in total.
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Re: Hang on to old car or buy new one?

Post by hudson »

Fred,
I'd pass your vehicle to Pebbles.
I'd get a new vehicle and plan to drive it 10 years as possible, appropriate, and if you want.
I'd personally get a new Toyota/Honda. Chance are, you'd get at least 3 years problem free. With experienced vehicles, you just don't know.
I've had 5 Toyota's since 2000. Most have never been back to the dealership except for recalls. I don't remember ANY warranty service...oops...I had to take back a vehicle for the remote start. An outside shop installed it. It turns out that they didn't fully seat a wiring harness.
Last edited by hudson on Tue May 12, 2020 9:24 am, edited 1 time in total.
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Re: Hang on to old car or buy new one?

Post by go_mets »

Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
+1

more reliable car for the daughter

I have a Honda Accord with nearly 220K miles on it; the Acura has more life in it.

.
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Re: Hang on to old car or buy new one?

Post by geerhardusvos »

fredflinstone wrote: Tue May 12, 2020 5:45 am My daughter Pebbles is driving a 2010 Acura MDX with 130,000 miles on it. She drives a fair amount. We are not handy, so we take the car to a mechanic for repairs. We are incurring repair expenses of about $1,500 per year for this and that.

I drive a 2017 Honda CRV with about 50,000 miles on it.

Here are my two options. Please help me decide.

Option 1: Status quo.
Continue with the current arrangement, likely incurring gradually increasing repair expenses on the Acura (say, $2,000 per year over the next several years, ignoring routine maintenance). Costwise that isn't bad, but I am starting to worry a little about reliability and Pebbles' safety.

Option 2: Trade in the Acura MDX; give Pebbles the Honda CRV, and buy a new or lightly used car for me. I don't need an SUV anymore. I don't want a fancy car and I don't drive much. I see that I can buy a low-mileage CPO 2018 Hyundai Elantra or 2017 Nissan Sentra for $13,000-$14,000. Suppose I own this car for 5 years, then resell it for $3,000-$4,000. If so, my total cost (assuming no major repairs and ignoring maintenance costs) would be ~$10,000 over 5 years. That's ~$2,000 per year over a period of 5 years.

It looks like the annual cost of the two options would be similar, but Option 2 gives us a newer (and presumably more reliable) car than Option 1. So I'm leaning toward buying a "new" car. Am I missing anything?

We are financially comfortable (debt-free) and would pay for the "new" car with cash.

P.S. Forgot to mention that there are a lot of hail-damaged cars for sale here in Bedrock. So I might be able to get an even lower price on a "new" car.
I would buy your daughter a ~$5000 Corolla and make her pay for it overtime if she doesn’t have the money already. Safe, reliable, reminds her that she doesn’t always need new things. Unless your net worth is well above 2 million, this is way too much to be spending on cars in my opinion. We have close to $1 million net worth and we have two Japanese cars from the 90s that have 150000 miles each... Your daughter would own a car 5x what mine is worth. I make $200,000 a year... If you are going for this regardless, yes the CRV for your daughter seems like a very generous idea
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Re: Hang on to old car or buy new one?

Post by fredflinstone »

Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
very good idea. I hadn't thought of this.
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Re: Hang on to old car or buy new one?

Post by fredflinstone »

onourway wrote: Tue May 12, 2020 8:52 am I think either option sounds ok. Realistically though you are swaying the cost analysis by counting the maintenance on the Acura, but ignoring the maintenance that will be required of both the Honda and whatever newer vehicle you buy. As noted, most of the costs you recently incurred were maintenance, not repairs. Those costs will be basically the same for whatever vehicle you end up with.
OK, good point. Thanks.
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Re: Hang on to old car or buy new one?

Post by MrBobcat »

fredflinstone wrote: Tue May 12, 2020 5:45 am My daughter Pebbles is driving a 2010 Acura MDX with 130,000 miles on it. She drives a fair amount. We are not handy, so we take the car to a mechanic for repairs. We are incurring repair expenses of about $1,500 per year for this and that.

I drive a 2017 Honda CRV with about 50,000 miles on it.

Here are my two options. Please help me decide.

Option 1: Status quo.
Continue with the current arrangement, likely incurring gradually increasing repair expenses on the Acura (say, $2,000 per year over the next several years, ignoring routine maintenance). Costwise that isn't bad, but I am starting to worry a little about reliability and Pebbles' safety.

Option 2: Trade in the Acura MDX; give Pebbles the Honda CRV, and buy a new or lightly used car for me. I don't need an SUV anymore. I don't want a fancy car and I don't drive much. I see that I can buy a low-mileage CPO 2018 Hyundai Elantra or 2017 Nissan Sentra for $13,000-$14,000. Suppose I own this car for 5 years, then resell it for $3,000-$4,000. If so, my total cost (assuming no major repairs and ignoring maintenance costs) would be ~$10,000 over 5 years. That's ~$2,000 per year over a period of 5 years.

It looks like the annual cost of the two options would be similar, but Option 2 gives us a newer (and presumably more reliable) car than Option 1. So I'm leaning toward buying a "new" car. Am I missing anything?

We are financially comfortable (debt-free) and would pay for the "new" car with cash.

P.S. Forgot to mention that there are a lot of hail-damaged cars for sale here in Bedrock. So I might be able to get an even lower price on a "new" car.
If you don't drive much why not just swap cars?

Edit, nevermind, I see others already beat me to it.
Last edited by MrBobcat on Tue May 12, 2020 9:31 am, edited 1 time in total.
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Re: Hang on to old car or buy new one?

Post by fredflinstone »

go_mets wrote: Tue May 12, 2020 9:22 am
Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
+1

more reliable car for the daughter

I have a Honda Accord with nearly 220K miles on it; the Acura has more life in it.

.
I am leaning toward this. What a simple, elegant solution.
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Re: Hang on to old car or buy new one?

Post by 3funder »

I understand $1,500 worth of maintenance. $1,500 per year, however, is suspect. Something must be off. Perhaps the car is a lemon? Also, who performs the service? I hope you steer clear of the dealer.
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Re: Hang on to old car or buy new one?

Post by bottlecap »

That totals $160 in repairs. The rest is maintenance, wear and tear, and unnecessary dealer profit items.

FWIW, I think $2,000 a year is a very high estimate. I've driven 10+ year old cars for more than 10 years now and $2,000 in repairs is a rare year. None of my brands have the reliability of an Acura. If you lived close by, I'd buy the MDX.

The most economic sense is to keep the Acura hands down. Pebbles aint gonna like going from an MDX to a CRV, either.

But lots of people prefer paying a premium up front to do their best to keep ”repairs” at zero.

The choice is yours.

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Re: Hang on to old car or buy new one?

Post by Texanbybirth »

fredflinstone wrote: Tue May 12, 2020 9:30 am
go_mets wrote: Tue May 12, 2020 9:22 am
Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
+1

more reliable car for the daughter

I have a Honda Accord with nearly 220K miles on it; the Acura has more life in it.

.
I am leaning toward this. What a simple, elegant solution.
Just another vote for this "simple, elegant solution". I can understand you wanting your daughter to be in a safe car, and the 2010 is probably fancy enough for you given what you've said above.

(I agree with the poster above: since you're not handy a lot of the mechanic charges you posted are pretty routine and you'll need them with any car. Might be slightly more expensive because it's a "luxury" brand, but still.)
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Re: Hang on to old car or buy new one?

Post by jharkin »

ponyboy wrote: Tue May 12, 2020 6:44 am How is the acura costing you $2k/year in repairs? Is it a lemon? That car has low miles and isnt that old...how can it possibly cost that much per year to maintain? I hope you're not including the cost of insurance and fuel.
They probably go to the dealer and pay their exorbitant rates for simple services plus buy all the up charges for unnecessary "inspections" and over maintenance.

I second the thought that a 10 year old Honda product should be very inexpensive to maintain. When I was in my 20s I drove an Acura hatchback... 11 years and 120k miles and other than oil changes the only unexpected repaisr I ever had was to replace a secondary o2 sensor ($100 part, 5 minute job) and one power door lock actuator ($50).


Follow up question - how old is the kid? If its a teen I wouldn't be buying them an expensive new car. When I was 17 my Dad bought me a $2000, 12 year old 140k beater and I was thrilled just to have wheels. And that thing broke down all the time ( mid 90s... it was an early 80s vintage car - carburetted engine, manual everything,etc)
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Re: Hang on to old car or buy new one?

Post by Kookaburra »

Texanbybirth wrote: Tue May 12, 2020 9:49 am
fredflinstone wrote: Tue May 12, 2020 9:30 am
go_mets wrote: Tue May 12, 2020 9:22 am
Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
+1

more reliable car for the daughter

I have a Honda Accord with nearly 220K miles on it; the Acura has more life in it.

.
I am leaning toward this. What a simple, elegant solution.
Just another vote for this "simple, elegant solution". I can understand you wanting your daughter to be in a safe car, and the 2010 is probably fancy enough for you given what you've said above.

(I agree with the poster above: since you're not handy a lot of the mechanic charges you posted are pretty routine and you'll need them with any car. Might be slightly more expensive because it's a "luxury" brand, but still.)
This makes sense to me b/c if the Acura breaks down, you already know how to power it forward with your 2 feet.
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Re: Hang on to old car or buy new one?

Post by Grt2bOutdoors »

fredflinstone wrote: Tue May 12, 2020 8:09 am
Dandy wrote: Tue May 12, 2020 7:16 am I like the idea of giving your daughter your car and you a newer car. Don't forget safety for you or especially your daughter since she drives a lot. Newer models often have improved safety features.
Yes, that is what I am thinking. Thanks.
Do that - give her your car and you get yourself a lightly used newer car. Don't sink anymore money in the car, acura parts are more expensive.
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Re: Hang on to old car or buy new one?

Post by Watty »

geerhardusvos wrote: Tue May 12, 2020 9:23 am We have close to $1 million net worth and we have two Japanese cars from the 90s that have 150000 miles each... I make $200,000 a year...
That is penny wise and pound foolish. Car safety has advanced a LOT since then.

Here is a video of a crash test between a 1998 Corolla and a 2015 Corolla.

https://www.youtube.com/watch?v=_ttkVRwOtVE

A car from the 1990's might not even have airbags especially on the passenger side. In a crash you would also be depending on 25 year old airbags and other safety equipment. I would suspect that they do not even have anti-lock brakes much less ESC.

I am not suggesting that you should necessarily buy cars with all the latest safety bells and whistles but you can afford cars that are dramatically safer.
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Re: Hang on to old car or buy new one?

Post by eye.surgeon »

My vote is swapping cars
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Re: Hang on to old car or buy new one?

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Watty wrote: Tue May 12, 2020 10:07 am
geerhardusvos wrote: Tue May 12, 2020 9:23 am We have close to $1 million net worth and we have two Japanese cars from the 90s that have 150000 miles each... I make $200,000 a year...
That is penny wise and pound foolish. Car safety has advanced a LOT since then.

Here is a video of a crash test between a 1998 Corolla and a 2015 Corolla.

https://www.youtube.com/watch?v=_ttkVRwOtVE

A car from the 1990's might not even have airbags especially on the passenger side. In a crash you would also be depending on 25 year old airbags and other safety equipment. I would suspect that they do not even have anti-lock brakes much less ESC.

I am not suggesting that you should necessarily buy cars with all the latest safety bells and whistles but you can afford cars that are dramatically safer.
I agree, many here discount the risk of driving decades old cars particularly with teen drivers . I have a friend whose child was killed in a VW Beetle in a low speed accident that would have been a walk-away in a modern car. My son's college roommate was driving an old jalopy truck had a minor accident and lost his front teeth, cut his face up and broke several ribs in an accident that again would have been a walk-away in a modern car. Both parents are upper middle class but of the mindset of why get your kid a newer car they're just going to crash it. Considering car accidents are a leading cause of death for young drivers it seems unwise if you can afford a modern car. That doesn't mean they need a 2020 vehicle, just something build after say Reagan was President.
Last edited by eye.surgeon on Tue May 12, 2020 10:21 am, edited 1 time in total.
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Re: Hang on to old car or buy new one?

Post by geerhardusvos »

Watty wrote: Tue May 12, 2020 10:07 am
geerhardusvos wrote: Tue May 12, 2020 9:23 am We have close to $1 million net worth and we have two Japanese cars from the 90s that have 150000 miles each... I make $200,000 a year...
That is penny wise and pound foolish. Car safety has advanced a LOT since then.

Here is a video of a crash test between a 1998 Corolla and a 2015 Corolla.

https://www.youtube.com/watch?v=_ttkVRwOtVE

A car from the 1990's might not even have airbags especially on the passenger side. In a crash you would also be depending on 25 year old airbags and other safety equipment. I would suspect that they do not even have anti-lock brakes much less ESC.

I am not suggesting that you should necessarily buy cars with all the latest safety bells and whistles but you can afford cars that are dramatically safer.
Safety is very important and hard to put a price on that, so just depends on how much and where people drive. We have ALB and AWD on our vehicles and feel very safe. Never been in an accident in 20 years
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Re: Hang on to old car or buy new one?

Post by Sandtrap »

Car pool with “Bam Bam” ??😃

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Re: Hang on to old car or buy new one?

Post by jharkin »

fredflinstone wrote: Tue May 12, 2020 8:08 am

Yesterday I spent $660 on new tires, $209 for driveline transmission service, $63 for driveline T-case service, $160 for Rec Rack & Pinion Unit (replacement of a right side bellows boot), $104 for a new oil filter adapter gasket, $20 for valve stem/service kit, $44 for computer spin balance, $12 for tire disposal, $80 for Alignment 4 Wheel Thrust, $10 for battery service, and $10 for a new air filter, among other things. The total for labor came to $574 and the total for parts was $982. Total with sales tax was $1659. Overall, I am happy with the car, but within the past 10 months I've spent more than $3,000 on repairs, tires, and so forth.
I see 660+20+44+12+80 for tires. That will be an expense you will have every few years even if you buy a new car

$209 transmission - The Acura, if its like most Honda products, likely has a 120k interval for first transmission refill and then every 60k thereafter. It will be a long time before you hit this again. You got ripped off, BTW, as the procedure for Honda transmission is a simple drain and refill. I can do it in 20 minutes. Do not EVER let somebody sell you a transmission "flush".

$63 T case. - the intervals on that are 30 or 60k as well. Your CRV also will need it from time to time if its the 4wd version. A little pricey but not bad.

$104 oil filter adapter. What the heck is this???? Every Honda uses a spin on filter... in fact they all use the exact same one. It costs $5 and includes a rubber gasket. You got ripped off.

What is a $10 battery service? Modern cars all use sealed maintenance free batteries. When they get to about 5 years old you replace it. Nothing to service. Another rip off.

$10 for what air filter? Both the cabin and engine filters costs more than that just for the part, and take about 5 minutes to DIY without tools. Unless they replaced a filter (would be taking a loss at that price) something doesn't add up.
TN_Boy
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Re: Hang on to old car or buy new one?

Post by TN_Boy »

fredflinstone wrote: Tue May 12, 2020 8:08 am
ponyboy wrote: Tue May 12, 2020 6:44 am How is the acura costing you $2k/year in repairs? Is it a lemon? That car has low miles and isnt that old...how can it possibly cost that much per year to maintain? I hope you're not including the cost of insurance and fuel.

We have 3 cars...newest is a 2009 with 99K miles, My daily driver is 2008 with 200k miles, and wifes is a 2006 with 100k miles. We rarely have any issues in terms of mechanical. Tires/brakes/rotors...thats about it. If your acura is costing you $2k/year...get rid of it. Something is wrong with it.

Im more amazed on what people consider old cars with high mileage. I have no reason to believe my 200k mile car will sit me on the side of the road over a brand new car. Mechanically, its sound.
Yesterday I spent $660 on new tires, $209 for driveline transmission service, $63 for driveline T-case service, $160 for Rec Rack & Pinion Unit (replacement of a right side bellows boot), $104 for a new oil filter adapter gasket, $20 for valve stem/service kit, $44 for computer spin balance, $12 for tire disposal, $80 for Alignment 4 Wheel Thrust, $10 for battery service, and $10 for a new air filter, among other things. The total for labor came to $574 and the total for parts was $982. Total with sales tax was $1659. Overall, I am happy with the car, but within the past 10 months I've spent more than $3,000 on repairs, tires, and so forth.
Well, the tire cost, wheel alignment, air filter etc are not repairs, they are basic maintenance which is needed every X miles on any car. I don't think it makes sense to call that a repair.

The boot replacement is a repair. Maybe the oil filter adapter basket ... not sure exactly what the driveline services are.

Anyway, I humbly submit you should separate out routine maintenance costs from true repairs cause something is broken when pondering whether to replace or not.
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mmmodem
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Re: Hang on to old car or buy new one?

Post by mmmodem »

Yup, I would swap cars. The Acura also just had a lot of maintenance and repair done on it. That means it'll likely go without much more in the near future especially with less driving that you do.

My 2009 Ford Escape had $1000 worth of work done to it last year with new tires. This year? $75 for an annual oil change and a state inspection. I drive very little. $1000 a year seems steep. ~$500 a year is better. And if no troubles happen next year it'll be <$400.
GoldenGoose
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Re: Hang on to old car or buy new one?

Post by GoldenGoose »

geerhardusvos wrote: Tue May 12, 2020 10:21 am Safety is very important and hard to put a price on that, so just depends on how much and where people drive. We have ALB and AWD on our vehicles and feel very safe. Never been in an accident in 20 years
My brother drives a 1998 Camry. Not sure it has ABS and definitely no AWD, no ESC/DSC, no LKAS, no Accident-avoidance system etc. He hasn't been in an accident for 22 years with that car and that is his daily driver. Amazing how he does it without all the "safeties" people today are so adamant about and can't seem to drive without.
GoldenGoose
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Re: Hang on to old car or buy new one?

Post by GoldenGoose »

My vote is to keep both cars and if you want, swap it. Even better is to learn how to maintain your vehicles so you can keep your cars well maintained. Seriously anyone can change fluids/filters/brakes etc. That way you save $ by avoiding taking your cars to the shop, learn to be handy and save money from car depreciation. The skills you learn will serve you and your family well when you kid has their family. Pass on those skills to your kids so they can be self reliant.
xerxes101
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Re: Hang on to old car or buy new one?

Post by xerxes101 »

Sandtrap wrote: Tue May 12, 2020 8:35 am Option 3
Swap cars??

j🌺
^+1...especially since you drive less, the maintenance cost will likely be lower.
tibbitts
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Re: Hang on to old car or buy new one?

Post by tibbitts »

GoldenGoose wrote: Tue May 12, 2020 12:45 pm
geerhardusvos wrote: Tue May 12, 2020 10:21 am Safety is very important and hard to put a price on that, so just depends on how much and where people drive. We have ALB and AWD on our vehicles and feel very safe. Never been in an accident in 20 years
My brother drives a 1998 Camry. Not sure it has ABS and definitely no AWD, no ESC/DSC, no LKAS, no Accident-avoidance system etc. He hasn't been in an accident for 22 years with that car and that is his daily driver. Amazing how he does it without all the "safeties" people today are so adamant about and can't seem to drive without.
I'm sure your brother wishes he had a newer car with better safety features, he has just decided that the cost of replacing the car isn't worth the safety features to him. We all do that with many products - I do with my 2005 car, my old power cutting tools that lack blade brakes, etc. We all wish we had the latest features, we just choose which ones we are willing to pay for. Being lucky for 22 years or any other amount of time isn't an accomplishment.
kidshrink
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Re: Hang on to old car or buy new one?

Post by kidshrink »

Watty wrote: Tue May 12, 2020 10:07 am
geerhardusvos wrote: Tue May 12, 2020 9:23 am We have close to $1 million net worth and we have two Japanese cars from the 90s that have 150000 miles each... I make $200,000 a year...
That is penny wise and pound foolish. Car safety has advanced a LOT since then.

Here is a video of a crash test between a 1998 Corolla and a 2015 Corolla.

https://www.youtube.com/watch?v=_ttkVRwOtVE

A car from the 1990's might not even have airbags especially on the passenger side. In a crash you would also be depending on 25 year old airbags and other safety equipment. I would suspect that they do not even have anti-lock brakes much less ESC.

I am not suggesting that you should necessarily buy cars with all the latest safety bells and whistles but you can afford cars that are dramatically safer.
Agreed.

I haven’t looked at the IIHS ratings, but a 2010 MDX is likely safer just based on pure gross vehicle weight and the laws of physics.

I feel safest in a midsize rear wheel drive sedan, and I keep telling my father to upgrade his 2010 Prius because nowadays it’s not just about how you drive but also how the driving of others can affect your life
MathWizard
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Re: Hang on to old car or buy new one?

Post by MathWizard »

#2 We did that with both kids.
GoldenGoose
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Re: Hang on to old car or buy new one?

Post by GoldenGoose »

tibbitts wrote: Tue May 12, 2020 2:39 pm
GoldenGoose wrote: Tue May 12, 2020 12:45 pm
geerhardusvos wrote: Tue May 12, 2020 10:21 am Safety is very important and hard to put a price on that, so just depends on how much and where people drive. We have ALB and AWD on our vehicles and feel very safe. Never been in an accident in 20 years
My brother drives a 1998 Camry. Not sure it has ABS and definitely no AWD, no ESC/DSC, no LKAS, no Accident-avoidance system etc. He hasn't been in an accident for 22 years with that car and that is his daily driver. Amazing how he does it without all the "safeties" people today are so adamant about and can't seem to drive without.
I'm sure your brother wishes he had a newer car with better safety features, he has just decided that the cost of replacing the car isn't worth the safety features to him. We all do that with many products - I do with my 2005 car, my old power cutting tools that lack blade brakes, etc. We all wish we had the latest features, we just choose which ones we are willing to pay for. Being lucky for 22 years or any other amount of time isn't an accomplishment.
Nah, he doesn't even think about buying a new car at all. He's happy with the car, it being reliable and all and he doesn't even need the new features. Heck, I don't even believe he uses cruise control even though his car has it. As for me, I don't really miss the new feature either. We bought a 2018 CRV with all the bells and whistles for my wife just because, you know, she's not me. I tried the LKAS, radar cruise, AWD etc. and frankly I don't really care for them. They're just enablers to boost your false sense of invincibility and moreover they are prone to be costly breakdowns. I'm happy with my 20 years-old cars. I save money, they're easier to work on etc. No safety gears will save you if a drunk driver T-bones you when they run a red light.

As your comment about "being lucky for 22 years ... isn't an accomplishment", my point exactly to poster geerhardusvos. Nothing to brag about. If you don't hit someone, someone will hit you.
CascadiaSoonish
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Re: Hang on to old car or buy new one?

Post by CascadiaSoonish »

I've got a 2006 RDX that's in the shop as I write this. I don't think the $2K / year estimate is unrealistic for ongoing dealer maintenance and repairs, that's probably about what I'm spending each year. I'm sure I could do it cheaper if I took the more DIY route or used an independent shop, but I'd rather not have the axles fly off on the highway just because I chose the wrong YouTube tutorial.
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