Is it time to give up the ghost? (vehicle, joint, auto)
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I've had my 2000 Camry for 8 years, and it's been paid off for 5. Has 178k miles on it. Currently, the brakes are squealing, the check engine light won't go off (but have had 3 mechanics look at it over the 2 years it's been like that, and no one can find any issues), the gas tank door has to be pried open because it's broken, it sounds like there's a hole in the muffler or exhaust or something because it's loud, the AC only blows air on medium and high, and occasionally the steering shakes/rumbles/loses power going around a corner and I'm afraid that one day I'm going to keep going straight in the turn and run right into the car sitting at the light.
Today I got into a fender bender, and my brother and dad both estimated that it would cost about $1k to fix. That's about what the car is worth in decent condition, which mine obviously is not in.
I really can't afford to take on a car payment right now, but I'm really tired of saying "my car needs fixed". Just a few months ago, I had a major oil leak that was really hard to fix. And I think the starter may be starting to go out, as my not even 2 year old battery died several times this winter and it stranded me far away from help. I'm a single girl that doesn't really have anyone to count on in this city. Driving this car makes me nervous.
Should I get rid of it and just figure out how to squeeze a car payment out of my budget or keep plugging on with it?
Last edited by cmjones311; 07-01-2014 at 10:29 PM..
What I would do is take the car in and have every thing you see wrong checked out and a price to repair it.
Once you have a total you can make a decision.
What exactly is your budget. I'm not talking about monthly payment. I'm asking how much do you have saved up to buy a new/er car? If you plan on going to a dealer do yourself a favor. Set a budget before you ever walk in.Tell yourself I will not go over x price ( you can find car payment calculators online. Use them to figure out your monthly budget based on the total loan amount but also give yourself a this is my OUT THE DOOR PRICE) and don't go past that price.
Now once you calculated your budget and OTD VEHICLE PRICE GO TO YOUR BANK AND GET A LOAN. Don't use the dealer for your loan. They can play with the length of the loan to make the payments " look " lower but lengthen the loan timeline. Or any of the other games they play. Especially on a single woman.
Now go and read up on what car you may want. Narrow it down to 3 maybe 4 car brands or models. Go to the dealer with a friend. Go test drive them. DO NOT BUY ANYTHING. Dint talk any financing monthly payment etc.
The first thing a dealer wants to know is how much do you want to pay per month. This gives them a budget to work with and they WILL bump that. You say I have a $300 a mirth oaymrnt they will come back with 330-340. What's the big deal its only 30-40 bucks.
30 bucks isn't much right? I mean that's what not going to star pucks for two days.
Any time a dealer says its not a big deal. Take that 30 bucks that's not a big deal and multiply it by the length of the loan. Say 60 month loan. 30x60= 1800. So 30 bucks isn't a big deal but 1800 is right? At $40 a month more 40x60=2400.
So you can see how that no big deal can be a big deal. Multiply the monthly payment they tell you with the total months of the loan. What's that figure? It's your total loan amount. Dealers are gonna fixate you on the monthly payment. I guarantee you they will not want to talk about anything more..
I've had my 2000 Camry for 8 years, and it's been paid off for 5. Has 178k miles on it. Currently, the brakes are squealing, the check engine light won't go off (but have had 3 mechanics look at it over the 2 years it's been like that, and no one can find any issues), the gas tank door has to be pried open because it's broken, it sounds like there's a hole in the muffler or exhaust or something because it's loud, the AC only blows air on medium and high, and occasionally the steering shakes/rumbles/loses power going around a corner and I'm afraid that one day I'm going to keep going straight in the turn and run right into the car sitting at the light.
Today I got into a fender bender, and my brother and dad both estimated that it would cost about $1k to fix. That's about what the car is worth in decent condition, which mine obviously is not in.
I really can't afford to take on a car payment right now, but I'm really tired of saying "my car needs fixed". Just a few months ago, I had a major oil leak that was really hard to fix. And I think the starter may be starting to go out, as my not even 2 year old battery died several times this winter and it stranded me far away from help. I'm a single girl that doesn't really have anyone to count on in this city. Driving this car makes me nervous.
Should I get rid of it and just figure out how to squeeze a car payment out of my budget or keep plugging on with it?
I've had cars in the past that got to the point that problems needed to be addressed, my Dad had an interesting logic on this kind of situation, he'd say whats it going to cost you to fix the car?Then he'd say whats it going to cost to buy a new car?With that logic whenever i buy a new car its because i want a new car and not because the old one cant be fixed.
Your particular 2000 Camry sounds as if its never been on a regular maintenance schedule and is now having all systems at the end of usable life turning the car into a virtual money pit, Dad would probably fix it assuming there are no rust issues, i'd sell/scrap it for a newer used car as this one sounds as if its too far gone , Fixing just the problems you describe is going to cost more than the car is worth...
PS. a Camry thats been well taken care of should go at least 300K
I sense an 2007 Camry in your future.
I also sense it's gonna be a basic 4cyl. LE model. With basic power windows power lock good AC. With out a sunroof or nav. Nothing fancy.
I also feel its gonna be around 80k miles for less than 8k.
Where are you located? If you're in the rust belt, there's no reason to get rid of it. It should easily go another 100K miles.
Seems like it's a victim of just being neglected when problems arise.
What are the codes on the check engine light? If you live in a state where you can pass inspection with the light on and it's for something stupid like Evaporative Emissions, I'd just ignore it and move on.
You can get a bumper / fender for cheap from a junkyard.
No reason to get a payment because the car is getting a bit long in the tooth.
List each repair's cost ad the priority in which they are needed. Brakes and steering/suspension first, fender bender last.
Perform the most needed repairs first, and go down the list until you get them all done.
You may DM me if you need used parts, I do it for a living, for CD friends I locate them in your area for free.
Disconnect the battery overnight to see if the engine light goes away. You can also have the car scanned for the code the light is putting out for free at Auto Zone, O'Reilly's, etc.
Fuel door? 20 bucks.
A/C blows on medium and high? Blower motor relay, STANDARD MOTOR PRODUCTS Part # RY291T $9.87 or blower resistor, STANDARD MOTOR PRODUCTS Part # RU322T w/o auto temp control, $15.00.
steering shakes? ball joints MOOG Part # TOES3306 19.97 each, four door; or tie rod ends RAYBESTOS Part # 5051178B 17.00 each.
Service engine soon light on for 2 years now? You are neglecting this vehicle. You can get the code read at a parts store for free and find that out what is wrong.
Sounds like too much stuff has gone wrong to warrant fixing it right now. You must invest in regular maintenance to make a vehicle last. If you cannot afford to do basic maintenance, maybe you should sit down and examine your personal budget and evaluate your situation.
I sense an 2007 Camry in your future.
I also sense it's gonna be a basic 4cyl. LE model. With basic power windows power lock good AC. With out a sunroof or nav. Nothing fancy.
I also feel its gonna be around 80k miles for less than 8k.
My ipad and I are fortune teller
I hope not. That car is a complete nightmare. I don't even know where to get started. Better off fixing the 2000 than get a pos 2007. Listen to CCc Girl.
I did want to say in an ever so gently way to the OP, you've done the best thing financially and paid it off, now it's time to be a car owner and own it, mechanically as well as financially.
Take care of it and it will be your daughter's first ride.
Well, it sure does sound like it needs a lot and the repairs will add up fast.
I second the advice to get a repair estimate. Once you have a dollar figure, then you can better decide.
That said, the car does sound neglected, and I would be nervous pouring a lot of money into a car of that age and mileage which has not been well maintained.
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