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Old 09-02-2010, 06:38 PM
 
Location: Victoria TX
42,668 posts, read 71,716,726 times
Reputation: 35899

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When it is no longer economical to keep throwing repair money at essential components like brakes, major mechanical functions, etc. I then give it to someone who either has the expertise to put in the repair labor, of is in desperate need of immediate transportation but has no money.
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Old 09-02-2010, 07:14 PM
 
1,345 posts, read 2,220,097 times
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Years ago I got into putting 100$'s a week in the credit union and only pulling money out when a major repair comes about. Drive that old clunker and stash 75/100 a week in a account then see how long you can drive it. When it finaly craps out you'll have the bucks to upgrade, this stategy really worked out vary well for me, course I was always using this strategy driving Toyota's and Nissans and I'm at the point now when I get my 250 to 300,000 miles on my car I walk in the dealership with cash money and just buy whatever I want on the lot, course I still stay frugal, some would say cookie cutter type vehicle. It's amazing how you can negotiate with cash in hand, your basicaly holding all the cards. I've owned a few Fords and it's alway's been my experience that 150,000 miles is about it, couse I'm pretty hard on vehicles, but I've always been a person that way overmaintains my vehicles, do all my own work or for sure dump the vehicle if I can't maintain it. jmho
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Old 09-02-2010, 07:40 PM
 
9,817 posts, read 19,051,858 times
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Back in 2001, there was a car I had since 1992(Ford Mustang). Despite always fixing it and keeping it painted, it was just falling apart at the seams. I really don't want to know what I spent that last year on it, but it was a sizable amount well above the value of the car. And in the end I had to sell it as it became unfixable and I was lucky to get $2300 out of it.

I learned a lesson out of all that and especially since I travel, once it starts becoming too unreliable and a hanger queen, it's time to let it go. If I have to make one or two fixes a year that's OK but once it's a problem that's it. I'd rather not have a car payment.
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Old 09-02-2010, 08:21 PM
 
26,979 posts, read 38,236,078 times
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If we spend, in six months, more than a years worth of new car payments the old car goes.

On average it's been 13 years.
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Old 09-02-2010, 09:14 PM
 
Location: Planet Eaarth
8,957 posts, read 17,044,991 times
Reputation: 7193
Quote:
Originally Posted by The Outcast View Post
The trouble with an old car that is beyond the issue of cost is reliability. In the last 2 years the old car has not started in some really tough spots. (Due to a bad starter, battery and alternator- all which are now replaced). I was parked at a State Park, in a bad neighborhood at night, and running late for work and the car did not start. Another time about 3 years ago I was driving in Brooklyn on the way to JFK Airport (300 miles from home) and the transmission went bad and I had to drive it into a Ford Dealer to have it fixed. Another costly repair! Now we are renting a car if we have to go more than a 100 miles from home. And started a more expensive AAA Membership where they will tow our car up to 100 miles.

So basically the hassle factor is very high for this car but again we like not having a car payment.
The repairs you mention are simple time related fixes. NONE of them are show stoppers so DON'T PANIC!

I know that once a car leaves you flat you get a "bad feeling" about it.

DON'T!

This it the first sign of panic that forces people to bail on a decent older car.

There was ,and still is, good common sense to replace engines & transmissions on older cars when the body is still in good clean condition. Believe it or not doing this was once very common since buying another car was just not affordable. I believe that that time has returned so keep the car and enjoy the savings when compared to the total overall cost of another vehicle.
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Old 09-02-2010, 09:16 PM
Status: "My eyes are rolled back so far I can see my brain." (set 23 days ago)
 
Location: Here.
13,423 posts, read 11,924,699 times
Reputation: 15746
I plan to keep driving my car (currently 113,000) as long as my grandfather drove his car - till the engine fell out.

(literally)
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Old 09-03-2010, 07:15 AM
 
805 posts, read 1,562,013 times
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Depends on if it's primarily in terms of cost or if you consider other things.

Reliability is big. Would you drive the car 2-3 hours out of town without wondering if it'd stop on the road, or would you have to get a rental for that?

Do you just like new cars? Some people see them as toys and like having new wheels every couple of years. Others just want to get to work and back or to the grocery store and back.

This is is a hard question to answer as different drivers want something.

I'm new here and I notice advice on these forums tends to be filtered through the "Car payment is BAD~! End of story" filters though, but it's not always just about that.
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Old 09-03-2010, 07:28 AM
 
Location: N of citrus, S of decent corn
34,755 posts, read 42,885,060 times
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I have 119,000 on my Highlander, and I can't bear the thought of getting rid of it. I love this car, so I will not get rid of it until it renders itself unreliable. Once it leaves me stranded a few times, I imagine I'll fall out of love.
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Old 09-03-2010, 08:49 AM
 
14,777 posts, read 34,597,131 times
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Quote:
Originally Posted by superseiyan View Post
Depends on if it's primarily in terms of cost or if you consider other things.

Reliability is big. Would you drive the car 2-3 hours out of town without wondering if it'd stop on the road, or would you have to get a rental for that?

Do you just like new cars? Some people see them as toys and like having new wheels every couple of years. Others just want to get to work and back or to the grocery store and back.

This is is a hard question to answer as different drivers want something.

I'm new here and I notice advice on these forums tends to be filtered through the "Car payment is BAD~! End of story" filters though, but it's not always just about that.
I think a lot of people here try to preach the intelligent and prudent financial side of car ownership, which is to hold on to the car as long as you can and get the most you can out of it. Still there are plenty of people here with toys and ones who trade there cars in every year or two.

I do both. There was a point in my life where I owned 3-4 cars between my wife and I and routinely bought and sold a car every 6 - 12 months. As the family grew I became more inclined to the frugal side and hold on to my daily driving cars for as long as I can. My wife's Avalanche is paid off and we could trade it in and get something new, but it's a great truck and is in great shape even at 4 years old. I'm planning on keeping my Malibu until it dies as my work car. It'll be paid off in another 8 months and then I'm adding to the savings to get another toy in cash. The toy is the one I'll be swapping out every year or two (current thought is getting an older Audi TT with the upgraded 1.8T and going big turbo, consider it a budget 911, lol).

When it comes to a lot of people around here, it doesn't seem that there are many "enthusiasts" as much as there are people who like cars. If someone was posting that they are getting tired of their Vette and are thinking about getting an Audi S4, no one would argue payments. When someone says my Ford Focus just turned 115k and I'm thinking of trading it in for another pedestrian cookie cutter car, than the frugality argument kicks in. If the old car can still do what you need it to do, there is no reason to get a new "appliance" and waste the money unless you just like having a new car or there is something really wrong with the old one.
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Old 09-03-2010, 09:01 AM
 
29,988 posts, read 35,923,304 times
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I have 198K miles on an American made 2002 4wd luxury SUV , the resale isn't worth much because of the high mileage. I just put 3K of repairs into that would have had to be done in order to sell it anyway. Given that, I'm going to drive this car until gas is $7.50/gal. or the floorboards rust through. It's been paid off a long time and that is a huge comfort. In speaking with the dealer following the repares he said I could realistically expect another 100K miles out of it. This vehicle has outlived every other one I've owned by 125K miles. It is all good!

Hang on to this one and keep making those car payments to yourself until you have more than enough to buy something else CASH. This economy is going to get worse before it gets better. Rough roads ahead. Keeping up with routine maint. will make a car last a long time.
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