Keep your old clunker or buy a new car? (car payments, vehicle, auto)

[Grandpa Pipes]

I post this because I plan to rebuild both my vehicles as long as the body is still good plus we really like what we own. At 16 yrs old for one and 12 yrs old for the other I figure at my age (63) I may never have car payments again!

That said, this story might help those on the fence about new/rebuild see the car they own in a new light. After all..... "It may clang and bang, but your despised old car may be the best bargain around."


Keep your old clunker or buy a new car? - MSN Money

also........(watch at least the first minute please)
http://www.jasperengines.com/video-customer.php

[cdelena]

Certainly the cheapest way to go is with the car that is already paid for. We have one that is 12 years old and one that is 10 years old. I keep up maintenance and have spent some time doing repairs having no plans (or budget) to buy a newer car as tempted as I am some days.

[Sayantsi]

I personally think the sweet spot is a car that is 3-5 years old, and keeping it until its 10 years old. You avoid the major depreciation on new purchases and the major repairs on older cars, but its all relative. You could spend $5k making car payments, or $5k making car repairs in any given year.

[M3 Mitch]

Originally Posted by Tightwad

I post this because I plan to rebuild both my vehicles as long as the body is still good plus we really like what we own. At 16 yrs old for one and 12 yrs old for the other I figure at my age (63) I may never have car payments again!

That said, this story might help those on the fence about new/rebuild see the car they own in a new light. After all..... "It may clang and bang, but your despised old car may be the best bargain around."


Keep your old clunker or buy a new car? - MSN Money

also........(watch at least the first minute please)
Jasper Engines and Transmissions | Customer Video

Just 16 years old? That ain't no old car mate - my daily driver is the 82 Scirocco, 27 years old - THIS is an old car.

It does not clang or bang either, right now everything except the A/C and the reverse lights work like a charm.

Started right up at around 20F this morning.

If you are a *real* mechanic, you can do this...

[gman6974]

Mine will turn 12 this coming up year. I take care of her and she takes care of me. When and if the engine ever blows. I'll spend the $1800-$2000 to have the engine rebuilt.

[kjg1963]

I have a 1988 740 Turbo Volvo. Right now it is sitting. The power steering rack is shot (no PS at all), needs tires and brakes all around, cracked windshield, broken AC, disinegrating headliner, and a tail light out. However, it starts right up and runs like a champ with only 155,000 miles on it and the body and paint are pristine. I'm in a personal delimna on whether to fix it (well over $1,000) or buy a used car. This is my second vehicle that I haven't needed to have on the road, but now my daughter needs to drive. I want to fix it, but others tell me to get rid of it. I love that car! After reading that article, maybe I can convince the naysayers that it is probably worth it to fix it.

[ESFP]

Hey, regardless of the age, if you have a good car you have a rare item. I traded my old reliable 1993 Chevy truck for a new 2003 Ford. The Chevy only had $1000 in repairs ever. 2 weeks after the trade, my Ford went in the shop. After 11 months, I'd spent $6000 in un-warranted repairs and needed a new $12000 engine, also not under warranty. I want my 1971 Sebring back!

[jazzlover]

Buying a new car now is a fool's game. There are two primary reasons that one might want to buy a new vehicle--to get the latest safety technology and to get something with better fuel economy. Most any other reason is just "feel-good" fluff--accompanied by an acquisition cost that is both high and avoidable by buying a used vehicle.

As to improved fuel economy--well, moronic American consumers and the equally moronic American auto industry is so phallic-fixated on big SUV's and "performance" that US fleet fuel economy has not improved significantly in a decade. Add the fact that our retarded EPA refused to adopt the European clean-diesel fuel standard, but had to make up one of their own--effectively closing the US market to literally hundreds of very fuel-efficient diesel models. I don't think this was about clean air--the European standard was plenty stringent enough--it was about keeping competitive vehicles that would have absolutely kicked the crap out of US automakers out of the US marketplace. As to safety technology, it has improved over the years, but most of the big improvements can already be found on used cars that are less then 5 years old.

All it will take is for fuel to head toward $4, $5, $6 per gallon or more (and it will), and people will be begging to practically give away near new cars. Why anyone would want to have one of those brand-new or near-new t**ds in their driveway to watch depreciate like crazy every day, I don't know.

For me, I don't care. My vehicles are used, but quite serviceable. Though they have many years of physical life left, I've already written them off my balance sheet. If they become worthless because of exploding fuel costs or fuel scarcity, it won't affect my net worth.

And, anybody who buys a vehicle with idea of impressing somebody else with it is an imbecile. And anybody who is impressed is even dumber yet. A vehicle is just transportation, just a tool--nothing more.

[Grandpa Pipes]

Originally Posted by kjg1963

I have a 1988 740 Turbo Volvo. Right now it is sitting. The power steering rack is shot (no PS at all), needs tires and brakes all around, cracked windshield, broken AC, disinegrating headliner, and a tail light out. However, it starts right up and runs like a champ with only 155,000 miles on it and the body and paint are pristine. I'm in a personal delimna on whether to fix it (well over $1,000) or buy a used car. This is my second vehicle that I haven't needed to have on the road, but now my daughter needs to drive. I want to fix it, but others tell me to get rid of it. I love that car! After reading that article, maybe I can convince the naysayers that it is probably worth it to fix it.

You know this car so I'd stick with the devil you know rather than buy someone else's problems.

Besides, just who did you buy the car for? You or someone else to like?

[Grandpa Pipes]

Originally Posted by M3 Mitch

Just 16 years old? That ain't no old car mate - my daily driver is the 82 Scirocco, 27 years old - THIS is an old car.

It does not clang or bang either, right now everything except the A/C and the reverse lights work like a charm.

Started right up at around 20F this morning.

If you are a *real* mechanic, you can do this...

I only hope that my vehicles last 27 yrs! That will mean , for me, never having a car payment or car shopping (which is hate with a passion!) ever again since I'm now 63.