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I have a 2007 Saturn ION with 80,000 miles on it. It's been well-cared for and I don't have any issues with the car, except it's starting to nickle and dime me. The car is paid for, I own it outright. Never had an accident in it.
I really really like NOT having a car payment. HOWEVER, the car is starting to have some issues. I spent about $500 on it a few months ago for new brakes/tires. Now it needs the timing sensor changed, about $200. And I've been having problems with the ignition (can't get the key out after turning off the car). It's been in the shop twice recently trying to fix the problem, in vain.
The car has had two recalls, one is the most recent GM recall that's been in the news lately. I am a single woman living alone, but I drive very little since I work remotely except for errands and sometimes to the mountains to see my son (5 hours). Still, I do need a dependable car. It will be my only car.
I was determined to drive this car till the wheels rolled off, but given the above factors I'm wondering if it makes more sense to sell it and get something else. I'm thinking used under $15K.
I have a 2007 Saturn ION with 80,000 miles on it. It's been well-cared for and I don't have any issues with the car, except it's starting to nickle and dime me. The car is paid for, I own it outright. Never had an accident in it.
I really really like NOT having a car payment. HOWEVER, the car is starting to have some issues. I spent about $500 on it a few months ago for new brakes/tires. Now it needs the timing sensor changed, about $200. And I've been having problems with the ignition (can't get the key out after turning off the car). It's been in the shop twice recently trying to fix the problem, in vain.
The car has had two recalls, one is the most recent GM recall that's been in the news lately. I am a single woman living alone, but I drive very little since I work remotely except for errands and sometimes to the mountains to see my son (5 hours). Still, I do need a dependable car. It will be my only car.
I was determined to drive this car till the wheels rolled off, but given the above factors I'm wondering if it makes more sense to sell it and get something else. I'm thinking used under $15K.
Your thoughts?
You don't need a new car. You want one. If you can afford it, then go buy one.
In your post you've indicated $700 in repairs in the past few months...how much would you have had to pay in car payments if you would have had a car? Add routine maintainence on top and you have exceeded that $700.
@ 80k miles some maintainence is expected.
I too get car fever all the time...but I know that driving my old truck saves me money everyday that I drive it. I almost have enough saved up to pay cash for the next one. I will not go into debt again for a car. EVER.
Number one, any used car is going to need a few repairs along the way, even a relatively late-model. You aren't going to avoid this by replacing your current car with a newer used car.
Number two, you could replace everything replaceable on your car and not come close to spending $15,000.
Number three, replacement of tires and brakes is a product of how you drive, what conditions you drive in, and how many miles you drive and not the car itself, so you shouldn't include those expenses when you think about your car "nickel and diming" you. If you buy a used car it's more than likely going to need tires and brakes sooner than the car you have now.
I feel like a broken record saying this because I've mentioned it in a half-dozen threads lately, but here goes nothing: If you want a different car, just buy one. There's nothing wrong with that, and I'm sure there's someone out there looking for a car just like the one you've got. Don't try to justify it from a financial standpoint because it can't be done.
That's exactly what I wanted to hear. I agree that it doesn't really make sense to buy another car, but wanted some confirmation. I'll keep the Saturn.
The GM recall this week is really what spooked me into thinking about another call. There have been several deaths due to the ignition issue.
It's not really nickeling and diming you. You are just in sticker shock from recent brake and tire jobs. Those needs are just routine maintenance for a car. All cars need them periodically. A late model used car could need them six months after you buy it... and if the dealer has replaced them already chances are they will want more from you to buy it. You will pay for them either way.
I can see where the ignition issue is a pain. Hopefully the recall will take care of that for you.
Otherwise, keep it. You can make an awful lot of repairs to a car over the course of a year before you approach what the loan will be on a newer one.
That's exactly what I wanted to hear. I agree that it doesn't really make sense to buy another car, but wanted some confirmation. I'll keep the Saturn.
The GM recall this week is really what spooked me into thinking about another call. There have been several deaths due to the ignition issue.
Thanks CD!
Good for you.
Why not try to put $100 a month in a maintenance fund?
And when it needs brakes - or a transmission - or tires - or a catalytic converter - or whatever ... your heart will keep beating
If nothing else, please bring your car in as soon as possible to get the ignition fixed. It sounds like you are already having issues with it. They will fix it for free as it is a recall item. Whether you keep it or not, get it fixed while you still drive it.
If you decide to buy new, GM will give you an additional $500 towards the purchase of a new car on top of any other rebates and your best negotiated price if you are the owner of one of the affected cars.
But as mentioned above, unless the car becomes a serious cash hound, drive it until the wheels fall off (not literally).
Keep in mind that a new car will require full coverage insurance. This could easily cost you an extra $600/yr. Yearly tax could be another $200. That's $800/yr plus a $~$300 car payment = $4400/yr. You can probably cover 5 years worth of repairs for $4400.
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