U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics > Frugal Living
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 07-04-2009, 04:40 PM
 
392 posts, read 1,681,602 times
Reputation: 278

Advertisements

Quote:
Originally Posted by f_m View Post
Well, if you buy used, it's possible to get something for $2-3k that will go 50-60k miles or more (insurance and registration will be less too).
I've had a lot of success going this route. I take my time and search out an older, boring sedan that was owned by a senior citizen. Low miles, well maintained and kept in a garage it's whole life. There is an initial repair cost when I press them into heavy service then they last for years.
Meanwhile my friend's with that buy new cars are repairing them after a few years and complaining about the cost of a monthly payment and repairs. When they try to sell or trade in they find that they owe more than they can get.
No new car has ever lived up to my expectations yet I tend to be extremely happy with older "cheap" ones.
Quick reply to this message

 
Old 07-04-2009, 05:45 PM
 
Location: Orlando, Florida
43,858 posts, read 43,564,164 times
Reputation: 58603
I came close to buying a new car because of all the great deals going on. In the end, I decided to keep the car I have for probably a couple of more years. It is in really good shape and paid for. If I finance, it isn't just the monthly payments I'll have to deal with, but higher insurance since I would have to carry more coverage.
Quick reply to this message
 
Old 07-04-2009, 05:50 PM
 
Location: southern california
55,237 posts, read 72,402,860 times
Reputation: 47449
sorry i dont know astra.
but i would go with the clunker.
Quick reply to this message
 
Old 07-04-2009, 06:26 PM
 
3,460 posts, read 4,790,435 times
Reputation: 6677
Quote:
Originally Posted by spiderbear View Post
The $1500 was replacing the timing chain and the damage it did when it snapped and replacing the wheel assembly/rim and re-alignment.
The costs of engine repair don't have anything to do with the reliability of your car. You neglected basic maintenance (changing the belt), and paid the price.

Now that you've fixed it, it's silly to throw away that repair money.
Quick reply to this message
 
Old 07-05-2009, 06:04 AM
 
1,219 posts, read 3,744,009 times
Reputation: 579
I'm all for keeping the clunker, however in your case, electrical problems can be tricky and expensive. If the electrical problems are rendering the car unreliable, I'd try to save up cash to pay for another used car by wintertime (to avoid being stranded, I live in the NE so this is a consideration for me). If the electrical issues are merely annoying, I'd keep the car, and save up more cash for a newer used car, maybe next year.

Like the poster upthread, last year I picked up a sweet little 98 Chevy Cavalier for $3k cash. I drove it for a year until my ds got his drivers lisence, now he does. We've only had to do a new alternator (dh did it himself), no other repairs. I am saving up to pick up one myself for commuting! I drive a 98 Astro Van, which I had to replace the tranny on, 2 years ago...but it was still cheaper than car payments (and I need the space for my large family).

The way I look at expensive repairs is-how much life will it get me out of the vehicle, vs. a car payment? The tranny, while $$$, paid for itself in a year-if you figure car payments of$250 or so a month, and I expect several more years service out of the van.
Quick reply to this message
 
Old 07-05-2009, 08:41 AM
 
20,793 posts, read 52,363,417 times
Reputation: 10471
Quote:
Originally Posted by debtmonger View Post
I would suggest that you only pay cash for a used car. Don't have enough cash... well it means you can't afford it right now. Lower your expectations or keep driving the beater. Cosmetic fixes are not necessary. Who cares about what it looks like.

I don't understand why the next car has to last through undergrad school. You could buy 4-5 good used cars for 13K.

It is hard for me to believe that public transportation would be more expensive than driving. I saved over $800.00 riding the bus to work last year. I agree that it is inconvenient at times. But it will sure help to bleed some extra life out of your beater.
Honestly 0% financing is BETTER then paying cash. You can take what you would have spent on the car, leave it in the bank, earn interest on that cash while you take out your monthly payment. Paying cash when you can get 0% financing is foolish. I don't like car payments either but I do in this situation.

Some people do care what their car looks like and having a car in the shop all the time for repairs doesn't work for most people. Not everyone has the opportunity to use public transportation so that might not be an option.

I would have a trustworthy mechanic go over your existing car, see if any repairs are going to be needed in the next year or so and decide from there. Since your repair costs are getting close to the monthly payment of the newer car, I wouldn't hesitate to get the new one.
Quick reply to this message
 
Old 07-05-2009, 02:11 PM
 
13,710 posts, read 22,821,151 times
Reputation: 18521
Quote:
Originally Posted by golfgal View Post
Honestly 0% financing is BETTER then paying cash. You can take what you would have spent on the car, leave it in the bank, earn interest on that cash while you take out your monthly payment. Paying cash when you can get 0% financing is foolish. I don't like car payments either but I do in this situation.
You are making the assumption that the car maker is giving you that financing is free. Quite often, you will find that if you waive the 0% financing, you can get a better "out the door" price. I have seen that on at least a couple of occasions.
Quick reply to this message
 
Old 07-07-2009, 01:53 AM
 
37,069 posts, read 38,273,370 times
Reputation: 14831
If you really want to save some money and get a really good car you may have to look for quite some time to find one like I did. A few years back I purchased a 10 year old Buick Regal fully loaded with 30K on it... R-title. You have to be careful with R-Titles and make sure you have competent mechanic look at it.

Personally I wouldn't have touched it myself except the guy had pictures before they fixed it... $2800 and it was fixed:



Hit a deer with it according to the dealer and it makes sense. Actually spun around and hit rear quarter too, you can see the dent. With a car like this the insurance company will total it because it's cheaper for them. The book value is not that much compared to what the estimate is going to be. The pay off the tthe owner then sell the car for reasonable amount. Someone can get it and fix it up cheap to sell. Happy Hunting.
Attached Thumbnails
New Car vs. Riding out the Clunker-buick_92.jpg  
Quick reply to this message
 
Old 07-07-2009, 05:25 AM
 
Location: Central CT, sometimes NH.
3,255 posts, read 4,908,347 times
Reputation: 3014
If you like the car and can afford it buy it. If you maintain it well you will get at least 10 years out of it. You may be able to get a similar deal on a new leftover 2008 or 2009 seeing as Saturn is being acquired by Penske.
Quick reply to this message
 
Old 07-07-2009, 08:53 AM
 
Location: Somewhere in northern Alabama
16,841 posts, read 51,301,408 times
Reputation: 27653
coalman, you may be one of the lucky ones. Personally, I'd avoid anything where the battery might have spilled or been damaged. We had a Toyota that had earlier had a battery explode. The fallout from the acid on the engine just kept going and going and going... Eventually, we junked it.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics > Frugal Living
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top