What repair costs warrant a new (used)car

[sbcvulcan]

I was talking to my mechanic yesterday about my 225k 95 camry. This year so far I have put in 1400.00, engne mounts, pulleys, timing belt, radiator. The car is running wonderfully but I am afraid due to age that all of the sudden many parts are going to start deteriorating. Previous to this year i have spent very little which is good but also indicates everything is old. What are your opinions on when to keep or not to keep a car?

The body is in good shape. There may be the potential for a new exhaust around 600.00. We always put on miles but they are highway.

[skewe]

I would start looking into another car.
I think for a camry, 150k is about going downhill time.
there are some people who take it to 400k but that is rare.

through time, all parts willl give way.

at the current millage, the $$ that you put into the car will be an investment u will never see again. Most likely you car will sell for about $3-3.5k

try looking for a new car /used if you have $$

[Phi]

A good rule of thumb is that when repairs cost more than monthly payments on a newer car, it's time to cut it loose. Otherwise, do minimal maint. to ensure that it doesn't die in the middle of the road and drive the car as long as possible. Also, don't forget a new car usually comes with higher ins. premiums aswell.

In the meantime, start saving for a deposit and flip through car ads.

Personal anectdote- I struggled with the same dilema when I blew the tranny on my high mileaged '92 Camry. In the end, I decided to fork out $1500 to have the tranny rebuilt. It's been over 2yrs and I got my $1500 worth out of the tranny. Any more road time the car sees is a bonus. The way the car's been toughing it, I wouldn't be surprised to get another 2yrs out of it.

[kenny1773]

It's a gamble, with Camry's that have been taken care of their whole lives, you usually win. Don't forget about junkyard parts, they will save you a fortune.

You have to figure a new car will have sales tax (some places higher property tax) higher insurance cost and monthly payments for 5 years (or more these days) and you will end up losing $1000's in depreciation.

It is really only a call you can make for yourself.

At no point is a new car financially sound A better condition used one might be, but a new one will lose thousands the day you buy it.

[sbcvulcan]

I have no intention of buying new. I would look at a 2001/2002 with 40k or less. Many of this kind come off lease. I know that between the excise tax, sales tax and increased auto insurance I am hesitant to make a change at all but I do not want to start a cycle of making repairs every few months. All your input is interesting, thanks.

What do you all generally spend annually on your various Camrys?

[skewe]

I dumped more than $3k in my 93 camry and it's been an uphill battle. Used to drive it like 30 miles/direction to work and in 2 years, it gave me hell. With a value of $3-4k at that time and dumping $3k in the car was not a really good option but seeing that i was working and going to school, money was hard to come by and getting a better car was out of the question. Still my car leaks oil but not that much and it;s now on a 1 mile commute a day. I will never see the $$ i invested.

Got another newer camry w/ less miles on it and that is my long reliable car.

If you invest more in the value of your car, it might be a good idea to look at another car. And if you can get another car for less than a monthly note or repair, go and get a new car.

[Eye8Pussies]

it's kind of strange hearing people even use the word "invest" when it comes to cars....never is car and its related money spendings an investment unless you have a classic or an exotic...


but long story short, if repairs are starting to get into the thousands, then it's probably time to get a new used car with less mileage....

BUT people do drive their cars to the 400K, 500K+ range regularly with imports, and they have the same problems as everybody else along the way....the difference is that they can fix/replace anything that causes problems themselves, usually making the cost of maintenace 1/3 if not 1/4 of those who go to mechanics

[UFOtofu27]

It also depends what you pay for the car in the first place. I got lucky, I picked up my Camry for $150. The previous owner got something newer, the Camry needed some little things (CV boots, front brakes, tires, brake light switch, a good flogging from sitting 3-4 months), and he just didn't want to bother with it. I definitely cannot swing any sort of payment, so a few repairs here and there, esp. with used parts and I'm coming out ahead.

The decison is yours. If you buy new, you will know how it was maintained-- you'll be the one doing it. Off-lease cars probably weren't maintained at all.

BTW, how much would you let the 95 go for? Maybe when the exhaust lets go, and you get sick of it?

[Cyorke]

I hear people all the time say I am going to drive it til the wheels fall off of it. Well like a guy I work with always says, if you drive it to that point it is not worth anything anymore. Maybe $500 on trade or maybe you can get taht money from a scarp yard for the metal. If you are putting more into the car than what a newer one would cost then definitely time to think about trading up. You are not investing money into a car unless like Eye8 said you have a classic or exotic car. You have purchased a depreciating asset and even if you buy used it will depreciate as soon as you drive it off the lot if you purchase from a dealer. Anytime you trade a vehicle in you are only going to get trade in value for it while you pay retail for it. If you car were to have a trade value of 2k dollars and it is going to cost you a couple of hundred a year to maintain at that same level then it might be worth holding on to. However if you are spending 1000 or 2000 a year to maintain it at that 2000 dollar trade in value you are sinking a lot of money into something you are never going to be able to recoup. If however you do the repairs and are able to continue driving it for a couple of years and not have to put more money into it then it may be justifiable.

Several people have stated that insurance and taxes and things like taht will be higher. THis is true and it all depends on what state you live in. In Tennessee you only pay taxes on the car at the time of purchase, I understand that in some states you pay annual taxes on the car depending on the value of the vehicle. As for insurance rates that can be hit or miss. An example is my Camry and my SIenna. My Camry is 11 years old and my sienna is 3 years old. The camry worth about 3-4k and the Sienna worth about 20k give or take. These are retail averages. However the insurance on my Sienna is about 20 dollars a month less than my Camry. Yes newer cars may be more expensive to repair but they are genrally going to be much safer as a whole. The insurance comapines do not jsut base their prices on the value of the car they want to know how safe is it going to keep the occupants in the event there is a major accident.

[sbcvulcan]

I have had the car since 1998, 7 yrs, put on 190k of the 224k. I guess if anything else major comes up thats it, i will have to look. The timing belt would have been no big deal but them i needed the pulleys, add another couple of hundred to that bill and my mechanics never sell me more than I need. I think it could be that the regular repairs will be catalysts to finding old worn out parts.

I never thought about selling it so don;t kwno what i could get. i am in Mass so i think Wisc is a long ride to pick her up!

Here is another question I have

I have a new job that is 40 all highway miles each way from home, would you

-take the 224k Camry or start using my 108k Maxima? i am thinking i'd like to preserve the maxima and have to get one new usd car instead of two sooner.???

[BullMarket]

Originally Posted by sbcvulcan

Here is another question I have
I have a new job that is 40 all highway miles each way from home, would you
-take the 224k Camry or start using my 108k Maxima? i am thinking i'd like to preserve the maxima and have to get one new usd car instead of two sooner.???

I would personally take the maxima to work going forward. Reason being, your camry (depending on condition) might begin to affect your ability to show up for work on time. This, of course, affects your revenue stream which, depending on your profession, could become VERY costly.

I would allocate the use of your Camry to commuting that is not ciritical (groceries, short trips, friends house, etc.) where if you break down it won't really matter.

I think the previous topic has been sufficiently covered. But in theory, keeping a used car is almost always cheaper than buying new. This is ignoring things like availability of fuel in the future (a switch to alternative fuels) and part cost (usually manufacturers cease production of parts after so many years and used part availability will diminish as they are used/consumed).

BULLMKT

[skewe]

Originally Posted by Eye8Pussies

it's kind of strange hearing people even use the word "invest" when it comes to cars....never is car and its related money spendings an investment unless you have a classic or an exotic...

to me, it's an investsment cos it help me go to work and i am investing $$ into my car so that I can get to work and build my career (and make money in the mean time). Mine turned from an investment into a liability

Guess it's an expense to you

[skewe]

Originally Posted by BullMarket

I would personally take the maxima to work going forward. Reason being, your camry (depending on condition) might begin to affect your ability to show up for work on time. This, of course, affects your revenue stream which, depending on your profession, could become VERY costly.



BULLMKT

definately agree with that.
my old camry caused me to skip quite a few days of work.
now, it's making only short trips

[Diehonda]

So if the repairs cost more than your payment...... Well I should have gotten rid of my dub five times this year hmmmmm, she did want another yota anyways.

I have had two camry's make it past 350, both of which were totalled, but I didn't really repair anything after a radiator on one and a cv joint on another. I also didn't dog them. I say depends on the wear and tear if you should replace it. Everything has its time though.