[nodmicks]

I have an 2001 Taurus with about 140,000 miles. I had 1 major repair of $1100 about 4 years ago. In July I put $600 into tires and a muffler. In the last few months, $300~ new brakes, $387 on something I can't remember the name of, $300 heater core stuff new hoses. oh and $500 for the ins deductible for ds's deer hit (it looks great)

It started making noise the other day so I stopped up and had the mechanic take in for a quick spin to listen. Then take a quick peek~ though he assured me I was in no danger of it croaking etc due to the noise.

He said it was the struts and I should replace the sway bars also. There was a little more to it but anyways he said the worst case scenario was $500.

I asked his opinion on fixing the car or replacing it. He said it was sound but with a car getting higher miles you have to just expect these things. You can get a lot of repairs needed or go ages. It is a toss up.

I'm really debating weather we should keep putting $ into the car or not. I really don't know the rules of thumb on this stuff.

I do want a new car but I really don't want to pay for it ( gee imagine that!) My other concern is dh's car hit 100,000 so there will be the replacement of that car down the line. I'm afraid that if we replace my car that his will croak and needs replacing and the $ will no longer be there.

That leads me to looking more for an economy car which my inner two year old is screaming no I don't want it. Also Dh's car is too small to pull the utility trailer. If we did buy an economy stripped down model then there wouldn't be quite the fear of dh's car biting the dust and not having the $ to replace it. His car has never had any repair besides maintainance in the 100,000 miles

I have looked at the Chevy Equinox, the Honda Accord, Chevy Impala and chevy camaro (yep still drooling).


Does anyone have any insight for me? I have been debating this car issue for quite a while and to be honest Dh says go pick a car if you are getting iffy on trusting yours but I'm really really torn.
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[DJ1972]

I have a 2003 Chevy Impala with 110,000 miles on it. It's paid for, so we love it lol!

Our rule of thumb for car replacement is:
-will it cost more to repair it than it is worth? I would rather spend $500 than to have a car payment.
-We will not go into debt. If we have to replace my car, it will be with what money we have on hand.

Those are the rule we have set for ourselves. Good luck with your decision, it can be a hard one.

 

[nodmicks]

Thats kind of the rub DJ I think we are pretty darn close to having put more into it than it is worth. I better get a calculator!

We will be paying cash but ya know once you spend it it is gone. That is the hard part I think.

As it stands now we have 3 high mileage paid for cars.

 

[Greebo]

Over the last 4 years, you've put an average of $921.75 into the car in repairs.

That's about 3 car payments a year. Less, actually - the national average car payment is closer to $400/month now.

My recommendation would be to bankroll $150/month for car repairs, with no upper cap. Let the money pile up. If the car repairs ever get to the point where the cost of repairs for the year equal the cost of a car payment for a year, use the money you piled up to pay for a new to you car.

 

[nodmicks]

Over the last 4 years, you've put an average of $921.75 into the car in repairs.

That's about 3 car payments a year. Less, actually - the national average car payment is closer to $400/month now.

My recommendation would be to bankroll $150/month for car repairs, with no upper cap. Let the money pile up. If the car repairs ever get to the point where the cost of repairs for the year equal the cost of a car payment for a year, use the money you piled up to pay for a new to you car.

Greebo I have to have spent more than I remember because we do put 150 in the car repair account monthly and the balance is 184 currently. Oh hold on! I'm wrong that is for both cars however Dh's has had a break job in the last few years plus oil changes etc. So I guess it is for the most part spent on the taurus. I still need to do the recent repair quote of 500.

I don't quite see how the 3 car repairs comparison works since I would never have a car payment. We are cash buyers baby (thanks Dave and us!) I'm confused ( maybe I need coffee!)

I'm going to go through my banks site and have their program dig up all my debits there for the garage in the last year and my check register to see the grand plan.

Dh and I did a bit more looking around over the weekend. We looked at two 2009 Dodge Jouneys. I'd never even heard of them! One had 33,000 miles and the other 44,000 miles. The prices were more in line with out comfort zone ranging between 13,000 and 14500 ( before dickering and trade in).

We are still debating and debating. I'm going to call our mechanic ( and neighbor) today and get his opinion on fixing the car and storing the next 1.5 years until ds2 is driving versus trading it in if we decide to buy.

If I did a short commute to work or shop I might very likely keep the car ages and ages. However I worry a little because my commute is 60 miles round trip. We also take this car everywhere we go as a family as dh's car is too small.

Other things I forgot to mention wrong with the taurus we will NOT fix are gas gauge (just set the miles button because I'm not spending 400 on this for an older car), the door ajar sensor , the keyless lock system is wonky) Nothing important just annoying.

One of the biggest issues is we are a family living on 1.25 incomes and not a huge income. It took quite a while to save all the $ up and I find it VERY hard to spend it!!!!

 

[Greebo]

Ok - sorry - I thought you meant you were going to finance. My bad.

Ok - so I did some quick digging on KBB - and a 2001 Taurus with 140k miles in good condition to a private party seller, depending on the style (LX up to SEL) is worth anywhere from $1,600 to $2,600.

Dave's rule of thumb is if the car isn't worth the cost of the repairs per year, get rid of it.

You're about 2/3 of the way there. Honestly, at this point, I'd say - its up to you. With a 60 mile commute, I do get the desire for reliability.

But what about maybe a 2007 model instead of 2009? The reason I suggest THAT is because a 2009 is going to lose value like a rock - but by 3 years old, the car value tends to stablize.

 

[nodmicks]

Thank you Greebo I will look into the 2007. I was looking at 2009's because that was what was there. I was shocked to see two were listed below blue book. I was also shocked the difference between a new 2010 and a used 2009 was 8k-10K. I know I shouldn't be shocked but I was.

We haven't bought a car since dh's 2002 in 2003 so I really have to weigh all the facts, get advice, do the research if we buy. I'm leaning more towards buying than not.

LOL it's ok you thought financing. You can't know who is weird or not LOL

Honestly as silly as it is this is more emotional than practical. We spent years getting debt free, hardcore saved for home improvements, cars etc. After all that scrimping it is very hard to write a check. Silly silly silly.

 

[Josephhgoins]

My rule is simple, once I can no longer trust the car to get me from Point A to Point B its time for another one.

There are too many bad people doing bad things for me to risk a breakdown anywhere. I understand that you can always just lock the doors and wait for the tow truck or cab to pick you up, but its just not worth it to me.

I would rather have peace of mind than the extra money in the bank.

 

[DJ1972]

Honestly as silly as it is this is more emotional than practical. We spent years getting debt free, hardcore saved for home improvements, cars etc. After all that scrimping it is very hard to write a check. Silly silly silly.

I don't think it's silly at all. I dread the day we have to write a check for a newer vehicle. Just the thought of it makes me ill, lol. Once you get in save mode, it's hard to let go of money.

 

[nodmicks]

My rule is simple, once I can no longer trust the car to get me from Point A to Point B its time for another one.

There are too many bad people doing bad things for me to risk a breakdown anywhere. I understand that you can always just lock the doors and wait for the tow truck or cab to pick you up, but its just not worth it to me.

I would rather have peace of mind than the extra money in the bank.

Mechanically I do actually trust it. These are all more maintainance type things that happen to older high mileage cars according the garage owner. The only actual engine type issue we have ever had was the transmission seal years ago. The car has actually never not started, stalled or broken down. Hope that makes sense.

 

[nodmicks]

I don't think it's silly at all. I dread the day we have to write a check for a newer vehicle. Just the thought of it makes me ill, lol. Once you get in save mode, it's hard to let go of money.

Thanks DJ that made me feel much more normal :rose:

 

[Russ]

Mechanically I do actually trust it. These are all more maintainance type things that happen to older high mileage cars according the garage owner. The only actual engine type issue we have ever had was the transmission seal years ago. The car has actually never not started, stalled or broken down. Hope that makes sense.

This would answer the question for me.

 

[nodmicks]

This would answer the question for me.

Maybe this is part of my debate? I think the thing that gets me a bit is putting cash into a car not worth much. However that is a good point that there has never been a breakdown!!!!!
Ok thanks for quoting that so I really SAW it:clap:

 

[Greebo]

Maybe this is part of my debate? I think the thing that gets me a bit is putting cash into a car not worth much. However that is a good point that there has never been a breakdown!!!!!
Ok thanks for quoting that so I really SAW it:clap:

I know you already decided but ... just to reinforce:

Its getting you from point A to point B. You trust it. It may not have MARKET value, but it has USE value to you. Sounds like you keep this car running - about $1k a year of love from you should keep this going another 100k easy.

 

[nodmicks]

I know you already decided but ... just to reinforce:

Its getting you from point A to point B. You trust it. It may not have MARKET value, but it has USE value to you. Sounds like you keep this car running - about $1k a year of love from you should keep this going another 100k easy.

Greebo I honestly can't say I decided 100% but you do make a VERY VERY good point.

I think we will fix the struts and sway bars and just keep our eyes open for a super bargain on a gently used car in the meantime.

Thanks everyone for helping me hash this out:clap:

 

[Greebo]

No!! YOU DECIDED! I say so! That final!!!

 

[nodmicks]

No!! YOU DECIDED! I say so! That final!!!

LOL is that how it goes??? Well you will save me writing a good sized check so ok YOU decided for nowumpkin:

 

[Greebo]

LOL is that how it goes??? Well you will save me writing a good sized check so ok YOU decided for nowumpkin:

As I told Russ earlier - I am made of awesome!

 

[Russ]

Time to put these on, it's getting deep in here.

 

[nodmicks]

As I told Russ earlier - I am made of awesome!

Awesome and logic:clap: