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I drive a 1999 Jeep Cherokee, I bought used with 40k miles, I now have 151k miles and in March 2012 I'll have owned it 9 years. My goal is 10 yrs and 200,000 miles, whichever comes first.
However, the thing is getting to where it's needing alot of repairs, I've spent around $3000-$3500 in the last 3 years on maint/repair. Now it's making a loud whine sound, (differential, axles??)
The wifes car is 2003 Toyota Matrix with 112k miles that we bought used with 60k mi for $5700, still drives good, but that is our "newer car" for trips, etc.
My son's car is a 2000 Escort that we paid $1800 for with 76k miles on the clock, it now has 96k miles on it.
I'd like to buy a new/newer car, but they are so expensive......is it time to ditch one of the older cars and get a newer one? We have cash to pay for one outright, just don't know what to get or if to just hold out for 1 more year and then trade in both the Jeep and Matrix.
If you "ditch" the Cherokee, I want to be there to pick it up.
<== I miss my 96 Cherokee. It was my "2nd car" for snow storms and hauling stuff. It had 230,000 miles, ran like a champ, and could drive anywhere I could imagine wanting to go, in any weather.
I cash-for-clunkered it for $4,500 on a new Honda to replace my aging Accord as my "1st car." I don't regret it from a financial standpoint, but now it's been two years, and I'm feeling that itch for another Jeep.
P.S. My Jeep had 230,000 miles, and my Accord had 170,000 miles. Guess which one burned less oil. (The answer might make an import fanboy or two's heads explode, so shhh... but it was the Jeep.)
My husband used to own a 93 Jeep Cherokee and he got 325,000 miles out of that thing. He commutes several hundred miles per week for work. Finally it just got too shaky to depend on, and had to buy something else. I recently traded in my newer (2000) Jeep Cherokee for a Sebring Convertible (2004). Just got tired of driving the dependable-but-boring vehicle, but they are really solid. Might be worth it to keep it going based on how durable these are. Just a thought.
One factor I use to determine if its time for a new(er) car: if the vechicle is paid for add up the cost of payments annually, if repairs, not including maintenance, are costing as much or more than what annual payments would cost then it's time to ditch it.
Using Tony's example repair & maintenance is costing him $97/month.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Without a big fat down payment you are probably looking at a $400 car payment on a $20,000 vehicle, and most are more than that now. That would more than pay for a new engine or transmission in one year alone.
I have had two Cherokees, a 1989 and a 1996, and if you keep them serviced they do last a long time. I also have a 1997 Escort commute beater with 160,000 miles still going strong. Not worth anything so I'd replace it with something else cheap rather than spend more than $300 or so on it. Keep in mind also that insurance is a lot more on a newer vehicle, with financing you must have collision and comprehensive and the replacement cost is much more. On your Jeep and Escort you can do with just liability.
I guess it depends on just how much you like the vehicle, and if it meets your needs.
Take a look at this 64 Tbird.
A member of a Tbird forum I belong too, owns this, and has since it was new.
It has 380,243 miles on it.
I say some cars are never meant to be traded up.
Click the image to enlarge.
Bob.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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I don't like the sound of a loud whine in a 4x4, BUT... if cared for it should not be a major drive train component, I rarely hear of that in a Jeep. Have you had any repairs to driveline? It could be as simple as a $20 U joint. Or of course, much worse (Hope not).
I would have a tough time figuring out how to spent $3000 in repairs, but then I have never sent anything to a shop / mechanic / dealer. I think I would be finding a less expensive repair place and use them frequently enough that they know your vehicle, and you can trust their diagnosis.
I would have this checked real soon.
You have a lot of yrs and experience with this vehicle. I would tend to keep it rather than buying someone elses' problem. You should be able to get your 200 - 250k out of it.
I would be using full synthetic oils in 4x4 drivetrain... I use Amsoil due to broad product application range (No I'm not a dealer, but do have a commercial acct as I own many vehicles and heavy equipment)
Using full synthetics has saved my bacon more than a few times. I do very extended changes (which would be 50,000 - 100,000 on drivetrain components). My road vehicles go 20k (or one yr... fall change) on an oil change, with new filter and fresh qt every 5000.
Keep older vehicles whenever possible is my 'sustainable' solution. + computers, emission controls, and plastics of newer vehicles will dramatically limit their useful life.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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That whine could be rear axle bearings, a relatively inexpensive repair, or
transfer case bearings, more like $1,500. With the axle bearings it's normally worse when coasting down a hill, if you try it with the radio off
and windows open with someone in the back seat have them try to pinpoint it as front or rear.
Even a repair at $2,000 is less than a year of car payments. If you have a good trustworthy mechanic, he will be able to tell you whether other components are likely to hold up and whether it's worth repairing. I remember when a friend had 230,000 miles on a 1980 somthing Accord, and the mechanic (not a dealer) told him it was time to be replaced.
The first part of it is really just the emotional side of wanting a new(er) car. Outside of that, from the economics perspective the general rule of thumb is when repairs start costing more than the vehicle is worth, it's time to start thinking of getting rid of it. In your case though, you know the pedigree of the Jeep and how well its been taken care of. I think the other advice given out is pretty good. I'd have someone go over the Jeep and let you know what's wrong and get an estimate to fix it as well as potential future issues. Once you know all that, you can begin deciding whether you want to keep it or fix it. Outside of an express need for something different, I think you will find keeping the Jeep makes the most sense economically until you are starting down a major repair like an engine.
Your wife's Matrix is an extremely reliable ride and I wouldn't be looking to get rid of it anytime soon. I've seen Matrix's in fleets that started the first 4 years of their life as rentals, then become fleet service/chase cars that had over 150k on them and were still extremely reliable and low maintenance.
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