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When I bought my 2011 Subaru Outback in 2011, the new cars were actually CHEAPER than the used ones because demand was so high.
Used cars are cheaper than their new counterparts, but quite often they are proportionately more expensive.
I've found that out the last two times I've bought a car. If you want something with a reputation for reliability with low miles from a recent model year, it means everyone else wants it too. I found it was cheaper to buy new.
After only buying new cars for my adult life every 4 years or so (20 or so new cards between my wife and I), I have reached the conclusion of buy new, mid-priced, maintain it, treat it well, and keep it for some 12-15 years or so.
You mentioned sway bars and control arms. The sway bar could just be bushings and if so, are relatively cheap to replace if you find the right person. The control arms could be bushings as well. If so, all of those are wear items and you'll see this on ANY car at some point. My 05 Titan had to have shocks, struts, sway bar end links, and sway bar bushings installed right at 100k miles. The shocks and struts were completely shot to the point of being painful to ride in. Not fixing them immediately sped up the disintegration of the sway bar bushings and end links because of the added stress on those components.
It happens. I wouldn't call a vehicle a POS because normal maintenance items need maintenance. At 56k miles with these issues, it really sounds like there has been some lack of maintenance (not meant as an insult) that has allowed this to happen. I'd recommend repairing it and going from there. If you're just dead set on getting something new, then go for it.
But (if it were me) I'd probably do the math on it and figure out what is more cost effective first. That car should have a lot of life left. I have friends with Sonatas with many more miles than yours who swear by them. And the V6 mileage is about right. We have a brand new V6 Toyota Venza that gets 21mpg on the nose.
I'm still chewing on it to be honest. I do not neglect maintenance; I'm not going to lie and say I have every single thing done at the exact time the manufacturer recommends for it to be done, but I don't ignore my car either.
The roads in my city and especially on my street are in notoriously poor shape. I'm not the only person in my neighborhood whose car needs suspension work.
I'm still thinking; I really haven't decided what I'm going to do yet. I'm trying to not let my hatred of my car cloud my judgment.
If it's the poor road conditions, anything you buy is going to have the same issues. It sounds like you need to budget for suspension repairs to take care of suspension failure when it happens. Something else to think about.
But..... if you've already talked yourself into hating the car (I've done that before - kind of looking at the grass being greener somewhere else) it will be difficult to change your perception. It may be the time to dump it. My vehicles (aside from my wife's) have all had higher mileage and I've never really had any major issues until the Titan. Don't let the mileage concern you as much. A well maintained higher mileage vehicle can be just as reliable as a brand new one. My wife's 2014 Venza with 10k miles has been in the shop (albeit warrantied and not major) more times than my 2006 F150 with 132k miles.
As a fleet manager and a car guy I have done cost analysis many times for different purposes. The reality is that this situation is a personal preference. Vehicles cost money. We either pay to replace them, or we pay to maintain them. Maintenance costs go up over time.
Using your current budget, not projecting any improvements that seem to be working out right now, what are you willing to spend per month on a vehicle right now. This can be monthly or total cost calculation.
Option1: Pick a modest model, comparable to what you currently drive in size and options, and talk to dealers about the cost of purchase or leasing one. If you want to stay in a new car under warranty, leasing is still a viable option, just never plan on owning it outright.
Option 2: Similar to option 1, choose a model or models you like and shop on autotrader for late model used to avoid the initial depreciation hit. Using a credit union or reputable bank you can compete with new car rates and save a bunch of money over the new car prices.
Option 3: Total the costs of fixing up your car, and include a detailing by a professional. Make the car look, smell, and feel as good as possible and drive it until there is a significant repair bill or for a determined amount of time when you plan ahead to replace it.
My entire adult life has been spent in cars, managing vehicles and vehicle budgets - currently manage a fleet of over 4,500 vehicles. If you let emotion make the decision you run the risk of making a bad decision. Logic is your friend. If you want a little help you can message me and I have a few tools to help determine the cost of ownership (some are also available online as free calculators) that can help make an informed decision.
As a fleet manager and a car guy I have done cost analysis many times for different purposes. The reality is that this situation is a personal preference. Vehicles cost money. We either pay to replace them, or we pay to maintain them. Maintenance costs go up over time.
Using your current budget, not projecting any improvements that seem to be working out right now, what are you willing to spend per month on a vehicle right now. This can be monthly or total cost calculation.
Option1: Pick a modest model, comparable to what you currently drive in size and options, and talk to dealers about the cost of purchase or leasing one. If you want to stay in a new car under warranty, leasing is still a viable option, just never plan on owning it outright.
Option 2: Similar to option 1, choose a model or models you like and shop on autotrader for late model used to avoid the initial depreciation hit. Using a credit union or reputable bank you can compete with new car rates and save a bunch of money over the new car prices.
Option 3: Total the costs of fixing up your car, and include a detailing by a professional. Make the car look, smell, and feel as good as possible and drive it until there is a significant repair bill or for a determined amount of time when you plan ahead to replace it.
My entire adult life has been spent in cars, managing vehicles and vehicle budgets - currently manage a fleet of over 4,500 vehicles. If you let emotion make the decision you run the risk of making a bad decision. Logic is your friend. If you want a little help you can message me and I have a few tools to help determine the cost of ownership (some are also available online as free calculators) that can help make an informed decision.
Thanks for the advice...
Right now I'm leaning towards repairing it. I am really just not all that impressed with the cars I'm seeing online and nothing's blowing my skirt up. In short, I haven't seen anything so far that makes me get excited and willing to take the hit of a monthly car payment (not to mention my insurance going up) for 3-5 years.
Here's what I'm thinking right now. Dad's real excited to go car hunting on Saturday and there's no harm in looking and test-driving; I do not make decisions impulsively so I will definitely NOT be buying a car this week.
While we're out hunting, I want to drop off my car with one last mechanic to get a real honest assessment on what he thinks is wrong with it and how long/how much it'll take to fix it. I want a detailed itemized list. Then I will have ALL the numbers I need to make my decision. I may end up holding the car for another couple of years.
Update: Called a mechanic, taking the hoopty in on Saturday morning bright and early. The shop's only a mile away so I can walk home. He'll have it all day and will give me a detailed written estimate.
Now I've researched what the trade-in value of the car would be if it had NOT been damaged in a wreck (someone hit it when it was parked) 6 years ago. The wreck caused $7k in damage. It was repaired by the other person's insurance company (Progressive).
I got a value for it in "good" and "fair" condition, and they're around the $5500-$6000 mark. It's clean, paint's in great shape, just a few dings on the sides here and there but nothing huge, and all the glass is in good shape. No stains on the upholstery except for the floor mats.
I realize that the fact that it has been in an accident will lower its trade-in value, but I have no idea by how much. Is there a straight percentage involved in that, or is it on a case-by-case basis? The trunk lid had to be replaced along with the bumper and driver's side tail light along with the rear quarter panel on the driver's side. There was no frame or axle damage.
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