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Buy a cheap RELIABLE used car like an Accord, Camry, Corrolla, Maxima, Civic. The gas will be cheaper and the repairs will be required a lot less than the american 'fix me all the time' pieces of junk. A new engine....almost unheard of in the vehicles listed above. These engines will probably all go at least 250k. Same with the trannys.
I never trade cars before they're paid off and I always keep them for at least 7 years. Right now I have a 95 truck that I bought new and have taken very good care of--I'm a stickler for doing the routine maintenance and this has always served me well. I do my research before I buy and go with something that will last a long time. If you're planning to keep this vehicle for awhile, I'd seriously consider buying (not leasing) new. When you buy new you usually have quite a few nonmaintenance (other than routine) years. When you buy used, someone else got to enjoy those years. Personally, I really enjoy those years
I have bought a few used vehicles, but when I do, I'll go for a high end, reliable, safe car. And if I decide to finance, I always go through a credit union (there are several that are easy to join) b/c I've usually found the best interest rates.
I think the real problems start when people trade in cars before the loan is paid off. I know so many people that have upside down loans on new vehicles. Wow. Scary.
Bande, you are not alone !
This is exactly my method as well - the credit union, reliable car (probably always Hondas from now one...love my Pilot!), etc.
I really wanted to buy a 2 or 3 year old car, but even they were expensive. I live in Florida, and after an evacuation a few years back, I was determined to get ONE vehicle we could all evacuate in, so it had to be an SUV. A 2 or 3 year old SUV is still a lot of money, and what if the person who had it first ran the **** out of it?
Instead I went for brand new and I was the one to break the car in. Like you, I'm very careful with my car and unless something unforseen happens, I intend to drive it until it is 8-10 years old (longer if the reliability is still holding up).
I'm not saying this is what the OP should do, but I think there are situations that warrant buying new (as there are also situations that warrant buying used).
Im keeping up with this post. I would love to get into a 06 Civic Coupe. Ive found one with 10k miles for $11k which I think is a good deal. If I was to sell my car I would probably go ahead and get the Civic.......its a HUGE upgrade for a lil bit more from a 00-05 models. Leaning towards the Civic that is 04 and $8k, but I will have to see how much I can get for my current car.
kgee, I'd be careful with those two finds, especially the 04. The prices are both well below KBB, and sometimes this can indicate some problems with the car. Always remember, never send money anywhere using Western Union or Wire Transfer.
Actually the 06 is 13k....for the EX, which is way below the KBB...not that I value it very much...but the dealers do. I was thinking it was a salvage, but it didnt mention that. I am going tomorrow to talk and drive.
Actually the 06 is 13k....for the EX, which is way below the KBB...not that I value it very much...but the dealers do. I was thinking it was a salvage, but it didnt mention that. I am going tomorrow to talk and drive.
They'll run a carfax report for you gratis, so you'll have that answer when/if you go to look at the car.
IMO, you'd be best off to stay with the vehicle you now have ... even though it may not be the car of your dreams.
You've put a lot of money into it and it's a known quantity to you. While the trans may seem expensive, you have the opportunity to shop the prices now while it's still running OK. In fact, you might just get it diagnosed now and discover that it really needs only minor work to stave off larger repairs for quite some time.
Since you drive so few miles per year, the expense of getting into a better gas mileage car may hardly be justified by the fuel savings.
Also, your currrent older car should be much less to insure and license for you.
Do not lease a car where you cannot write off the expenses, which is your situation. You have a total loss on your expense and no equity at the end of the lease term.
I was kind of in the same situation on whether or not to get a new(er) car. I have a 1995 Mazda Protege with over 193,000 miles on it, and I've had it since it was new. It's been VERY reliable, and it still looks and runs like new, since I take such good care of it. The major components I've had replaced on it were the struts, the front axle and the radiator. I recently got a new set of tires for it. Even though at the time it seemed expensive to have those parts replaced, I kept telling myself that it was cheaper than buying a new car!
By the way, this Mazda I own was originally a lease, and I ended up buying it when the lease was up. I learned after the fact that leasing is more expensive in the long run, so I'll never do that again.
I think I may keep this car until it dies, or if it needs a major repair exceeding the current value. At least my insurance is less expensive, as well as my registration renewal. My drive to work is only seven miles one way, so that in itself will extend the life of my car even more. It looks just like one in the picture here:
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Don't lease!
The major components I've had replaced on it were the struts, the front axle and the radiator. I recently got a new set of tires for it. Even though at the time it seemed expensive to have those parts replaced, I kept telling myself that it was cheaper than buying a new car!
