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Old 03-07-2014, 10:45 AM
 
1,339 posts, read 3,238,821 times
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My wife has a 2000 Toyota Camry XLE (V6, 3.0 engine). It has around 90,000 miles and is in perfectly fine condition. It hasn't been in any accidents so the structural frame is solid. And over the last 14 years, I have diligently been taking it to my dealer for servicing every 4-6 months. KBB shows the trade-in value as $3800 and private sale as $4400.

We were actually going to donate this car to charity last year. When I mentioned this to my dealer (been going to him for 14 years for servicing), he said he would like to buy it. Buy it for his own personal use; not for the dealership. This made me realize that the car was in way better condition than I had expected! So I kept the car. However, what I didn't do is I kept postponing replacing the timing belt and other repairs since the last year. The cost for this is approx. $2000 if I do it at a gas station or $2600 if I do it at the dealer. I can give you the exact nature of repairs, if you need it, when I get home.

Here are my questions:
1. From a safety perspective, is it okay to drive such an old car?
2. Is it worth making repairs worth $2000-$2600 on an old car (that is worth $4000)? I have the money to buy a new car so upgrading (if required) isn't an issue.
3. What do people take into consideration when upgrading old cars? It does not look like a beat-up or a college student's car so we have no problems driving it.

Please advise.

Thanks,
K

Last edited by kutra11; 03-07-2014 at 11:39 AM.. Reason: Not "transmission"; timing belt.
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Old 03-07-2014, 10:50 AM
 
Location: in my mind
5,119 posts, read 7,613,394 times
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Quote:
Originally Posted by kutra11 View Post
1. From a safety perspective, is it okay to drive such an old car?
I am driving a 97 Camry with 152K on it and am still alive to post about it....
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Old 03-07-2014, 10:55 AM
 
Location: WFNJ
1,037 posts, read 2,754,305 times
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Based on the condition, I would fix it and keep driving it for at least a few more years. That is a lot cheaper than buying a new or used car.
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Old 03-07-2014, 11:05 AM
Status: "Never had a bad day in my life" (set 1 day ago)
 
Location: Pennsylvania
22,847 posts, read 8,194,970 times
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I drive the exact same car as you - 2000 Camry LE, with 151,000 miles on it.
Put the money into the car, fix it up, and enjoy another 5 years of it (at least).
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Old 03-07-2014, 11:09 AM
 
48,507 posts, read 90,745,756 times
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Transmission belt? If you keep the maintenance up then what is repairs needed? If you mean Timing belt even with a water pump changed at same time as recommended isn't that much and is normal maintenance; not repairs.Check the maintenance manual and see if you really have maintained it as recommended by maker is my suggestion. Likely if 14 years old any buyer is going to take this into consideration if buying. Maintenance records can be a big selling point to a individual buyer on what they will pay top dollar for as well maintained.
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Old 03-07-2014, 11:21 AM
 
Location: Eastern NC
20,870 posts, read 20,763,201 times
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If you really like the car then do the maintenance and enjoy it for another 10 years. If not then sell it and buy another vehicle.
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Old 03-07-2014, 11:36 AM
 
Location: NYC
20,284 posts, read 13,730,993 times
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I would sell it or keep it as a backup car, even though it's still fine but eventually the parts become more expensive and your car becomes a theft target for parts. If you can get $4k for the car I would definitely sell it. There are plenty of newer used cars that you can buy for around $4-6k that drives better than the camry.
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Old 03-07-2014, 11:39 AM
 
Location: Lafayette
539 posts, read 1,455,860 times
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That is very low mileage for a 2000 car. Toyotas will go forever. Keep it! We have a 1998 Toyota with about 160,000 on it and it still runs like a dream! You would be making a big mistake to sell it! Just my two cents!
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Old 03-07-2014, 11:51 AM
 
Location: Central Texas
13,719 posts, read 28,112,787 times
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Quote:
Originally Posted by vision33r View Post
I would sell it or keep it as a backup car, even though it's still fine but eventually the parts become more expensive and your car becomes a theft target for parts. If you can get $4k for the car I would definitely sell it. There are plenty of newer used cars that you can buy for around $4-6k that drives better than the camry.
There is no shortage of parts for a 2000 Camry. It was probably the best selling car in America that year, like it has been for a long time.

A timing belt change should not be crazy expensive. A used Camry with low mileage (yes - 90K is low mileage for a 14 year old car) is in high demand. What other repairs are required? Based on what has been written so far unless the OP wants a new car or wants a car payment just keep the Camry and do whatever maintenance is truly required.
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Old 03-07-2014, 12:00 PM
 
2,135 posts, read 4,005,204 times
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Quote:
Originally Posted by vision33r View Post
I would sell it or keep it as a backup car, even though it's still fine but eventually the parts become more expensive and your car becomes a theft target for parts. If you can get $4k for the car I would definitely sell it. There are plenty of newer used cars that you can buy for around $4-6k that drives better than the camry.
How does a 14 year old car become a theft target for parts? A camry at that. Were not talking some Shelby GT or a classic 1955 X car. We're are talking a run of the mill camry.
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