Possibly trading in my car. (funds, pay, vehicle, savings)
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Hi! I bought a 2020 Honda Accord back in 2020. I have had nothing but mechanical issues since day one with this car. 3 months ago the manufacturer warranty expired and I've been dumping money into repairs ever since.
At first I was making double and sometimes triple payments onto the car just to pay it off. Last month I got a pretty good bonus from work, which amounted to around $3k, of which I used to pay down the car. This year alone I've payed it down from $15k all the way to $6k.
Then the warranty expired and I'm having to divert all the funds to costly repairs.
Since day one I have had to bring this car into the dealership for countless repairs.
I have already had the suspension system replaced part by part.
First it was the front and rear struts. Then the front control arms.
Two months later it was the fuel pump and battery.
Shortly after that it was the rear control arms and shocks.
Now that the warranty expired, I've had to pay for the rear struts, again, plus the cv boots. This cost me around $1000 after Honda did a "goodwill" assistance, which covered half.
Yesterday I had to take it back because the driverside strut broke again. 13 months after they had replaced it. Just for parts and labor it will come out to $1200 and I'm told Honda most likely will not allow another goodwill assistance. I asked about warranty on the parts and labor they performed last July and I was told that it ends when the original manufacturer warranty expires.
My A/C compressor is also showing signs of failure. This will be a near future repair of around $2k.
And yesterday I decided that I was going to cut my losses and just trade the car in next year.
I know it's probably not the best financial decision I can make, but I feel that I'm just throwing good money after bad.
Right now I can get around $24k in trade in value for the car. I have substantial savings so I can use some of that to offset the car I'll be buying.
I figured I'd post here and see if I am making a terrible financial decision. However, I also want a reliable vehicle that won't break down on me.
Does it make sense to do this or should I just pay my Honda off and plan on making regular expensive repairs?
I should also add that, I baby this car. I was it every couple months. Hand wash it, use premium fuel, drive it with the utmost care and maintain it to the letter of Hondas recommendations.
today the cars are electronically so complex all new cars are having issues .
i bought a high end lexus two months ago .
i have no issues but there are so many buy backs going on because of issues that can’t be resolved .
there are so many electronic systems on my car that unless it proves to be unusually reliable i will no longer own it in 4 years when the warranty is up .
For reference, after I pay the $1200 for the front struts and the $1000 for the rear struts and cv boots, that will be roughly $2200.
If my A/C compressor needs replacement, I was told by both the dealership and an a/c repair shop, that it could be other things such as the clutch, blower, etc.
At the end of all those repairs, assuming nothing else breaks, that will put me out a whopping $4200 in repairs for a car that's less than 4 years old.
today the cars are electronically so complex all new cars are having issues .
i bought a high end lexus two months ago .
i have no issues but there are so many buy backs going on because of issues that can’t be resolved .
there are so many electronic systems on my car that unless it proves to be unusually reliable i will no longer own it in 4 years when the warranty is up .
lexus is a four year warranty
I should have jumped on the HondaCare extended warranty when I bought this money pit but everyone kept telling me that
1. Hondas are extremely reliable and
2. Extended warranties are a scam.
Since day one I have had to bring this car into the dealership for countless repairs.
I have already had the suspension system replaced part by part.
First it was the front and rear struts. Then the front control arms.
Two months later it was the fuel pump and battery.
Shortly after that it was the rear control arms and shocks.
Wouldn't these have been covered by the bumper to bumper warranty?
I understand some things like the battery may be considered wear items but you'd think they would cover something like a control arm were it's really metal and bushings. Did you push back on these repairs when they were presented to you as not covered under warranty.
To answer your original question though, I would dump this vehicle if it's given me this many problems.
I have 2 Hondas that have been mechanical reliable. The 2015 i bought new and it now has 100k. The 2013 i bought 6 years used add it only has 34k.
That’s really awful! My ex has our 2010 Honda Accord that hasn’t needed anything other than brakes, oil changes and tires. My 2008 Toyota Corolla is the same. Glad mine only has 69k miles on it so probably my last car.
Wouldn't these have been covered by the bumper to bumper warranty?
I understand some things like the battery may be considered wear items but you'd think they would cover something like a control arm were it's really metal and bushings. Did you push back on these repairs when they were presented to you as not covered under warranty.
To answer your original question though, I would dump this vehicle if it's given me this many problems.
I have 2 Hondas that have been mechanical reliable. The 2015 i bought new and it now has 100k. The 2013 i bought 6 years used add it only has 34k.
Well all of the repairs were covered under the warranty except for the rear struts, cv boots, front struts and ac compressor. These items went out after my warranty expired. Honda only carries a 3 year, 34k mile warranty.
My warranty expired about 3 months ago. As for pushback, there's really not much I can do. I've made phone calls and appeals to Honda corp, but aside from that I'm SOL.
That’s really awful! My ex has our 2010 Honda Accord that hasn’t needed anything other than brakes, oil changes and tires. My 2008 Toyota Corolla is the same. Glad mine only has 69k miles on it so probably my last car.
Newer cars are severely lacking quality. I purposely bought the Accord because Honda has been known for it's quality and reliability. But I think that really only applies to older vehicles now.
today the cars are electronically so complex all new cars are having issues .
i bought a high end lexus two months ago .
i have no issues but there are so many buy backs going on because of issues that can’t be resolved .
there are so many electronic systems on my car that unless it proves to be unusually reliable i will no longer own it in 4 years when the warranty is up .
lexus is a four year warranty
You were shopping for a Porsche macan.............went Lexus?!?!?
I would've traded that Honda in already. I don't have the time or patience for repairs. Last lemon I had was an Oldsmobile Starfire around 1976. Since then I've mostly had Toyotas that really held up well.
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