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We have a semi-tight budget (don't we all) and cannot afford any expensive car repairs. We are deciding whether to keep our 2004 Honda Odyssey or trade in for a 2008 or 2009... here are the facts on the 2004:
1. It has almost 100,000 miles
2. Our extended warranty is up in March 2011
3. I just replaced the timing belt, 4 tires and the battery
4. It runs great and the body is in excellent condition BUT I've heard one rattling noise that is unsettling and it's been sort of idling hard in the mornings (probably nothing... but... ?)
5. We'd have the same monthly payment, but instead of it being paid off in one year, we'd have 6 more years (which is okay... our monthly payment is in the budget and affordable)
6. We plan on driving a lot in 2011, mostly out of state.
I know this is hard to predict, but do you think we should just let the warranty expire and hope for the best, or try to get something newer and possibly more reliable?
My last car was a 1992 Volvo (And I had a Volvo before that, too) that started having lots of problems when it turned 10. I know Hondas can be more reliable, so this is why I'm on the fence about keeping our current car.
Short of some catastrophic failure like dropping your transmission or massive engine issue, it is always cheaper to keep an older car then buy a new(er) one. Sounds like you have already put some money into the the current car for wear and tear items that would need replacing if you decided to keep it, so your already "paying" for future use. Why not take it to a mechanic ( NOT at the dealership) and have them check that noise and do an inspection? You could even take it to one of those AAA mechanics that checks out used cars for buyers and act like you are thinking of buying it and get there take on its condition. He may identify some things you'd need to fix up then you could decide if you wanted to invest a bit more in the van to run it a few more years or go ahead and trade it in.
Honda's are, in general, MUCH MUCH more reliable then Volvo's. You paid a premium to get Honda reliability, you should get a return on the investment. Besides, if you keep the van for a few more months and it starts to have issues, sounds like you could still go buy that newer one then. In the meantime you'd just save yourself some payments.
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The noise problem.
It may be the back door.
See if you can wiggle the door when it is closed.
Ours, also a 2004, does have the locking mechanism once and a while come loose,
and then the door rattles.
So far, our 2004 (98k miles)looks just as new as when it came off the line.
No plans here to trade in or up.
Once a year, we spend $800, and get a full check, by an independent Honda only mechanic.
He does AC check and refill, brake fluid change, AT fluid change,
fuel filter change.
Goes over all the points as recommended by maintenance schedule.
I do all my own oil/filter changes, including the cabin filter,
and I change my own brake pads (a no brainer ...)
If your car runs good, why go for another one that, if used, may have more problems than your present one ??
<<<or try to get something newer and possibly more reliable?>>>
You say : more reliable ...
Why do you think your present car is NOT reliable ?
The stuff you replaced sounds like the normal stuff you would anyway, at that mileage ...
Maybe you just want another car ????
BTW, we also had the extended warranty ... NEVER used it !!!!
[quote=irman;16720540Once a year, we spend $800, and get a full check, by an independent Honda only mechanic.
He does AC check and refill, brake fluid change, AT fluid change,
fuel filter change.
Goes over all the points as recommended by maintenance schedule.
[/quote]
Are you serious? $800 every year?!!!!!!!!! There is no reason to get all of that done every year. We just had our 30K service done and it was only $400.
$800 must include optional items like engine flush or throttle body service, since he said he does his own oil changes & brake pad replacments too.
anyway, I'd keep the van for at least 3 more yrs just to save up some extra cash. That's one of the advantages of buying a car rather than leasing. Modern Honda's can easily go 150k~200k miles without engine or transmission problems. Besides if you get a used 2yr old vehicle (most likely not off lease) you don't really know why the other party is getting rid of it and could be inheriting unforeseen problems.
Keep it. With good maintenance you could easily put another 100k on your 2004, which could mean four years without a payment.
Get the rattle fixed, have a mechanic evaluate it, and keep it on the road.
Another consideration: what will your family's needs be in another four-five years? If you have kids going off to college you could move out of a van into a smaller car.
If you have amintained the vehcile as per owenrs manual;your hardly likely to save money by trasding in .That alos is a chance your takig as you will not know the service record of that nwer but still used vehicle. I'd rather have one I know the service redcord of;presonally than one that a person drove 2-3 years but might not have keepup with the required service.
I'm in the keep the vehicle boat. The vehicle is in great shape for its age. Try saving the amount of what would be your auto payment and see what it feels like in your budget.
You are doing pretty good and your vehicle should keep on going for a few more years of maintenance type of repairs.
PS I would skip on the extended warranty in future purchases. My dad got it once and needed it until it was out of the warranty period. Best to save that money spent on the warranty in savings for future maintenance and repair needs. Besides dealing with the extended warranty companies can be a pain and sometimes the repair itself is not covered under warranty under the very small print.
I'm in the keep the vehicle boat. The vehicle is in great shape for its age. Try saving the amount of what would be your auto payment and see what it feels like in your budget.
You are doing pretty good and your vehicle should keep on going for a few more years of maintenance type of repairs.
PS I would skip on the extended warranty in future purchases. My dad got it once and needed it until it was out of the warranty period. Best to save that money spent on the warranty in savings for future maintenance and repair needs. Besides dealing with the extended warranty companies can be a pain and sometimes the repair itself is not covered under warranty under the very small print.
Totally agree. The extended warranty has NEVER paid off for me. Did it on 3 cars and they always find loopholes and reasons why the warranty can't cover it. Another scam in my opinion.
I'd keep the 2004. My friend has a 99 Civic with 300k and zero problems to date. He is actually hoping something breaks so he can rationalize getting a new car finally. lol. I don't think the rattle is anything major but who knows, go get it checked out, still be cheaper than a newer car and 6 more years of payments.
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