is buying a newer car worth it?

[brianmanahan]

should i (1) buy a newer nicer more comfortable car or (2) run my 15 year old car into the ground? its running good right now but its cramped and a little rusty and i cant fit anything in it. but its a lot cheaper than buying a new one. DEAR ATOT WHAT DO I DO?

 

[DaTT]

Yes.

 

[brianmanahan]

im torn though czu i could just wait till mine dies then buy another old car for like 5000$ and save a lot of money.

 

[lupi]

at 15, buy another and ride for another 15 years.

 

[zerocool84]

im torn though czu i could just wait till mine dies then buy another old car for like 5000$ and save a lot of money.

If you're talking about used vs new then almost always goes used. You won't eat the huge depreciation in the beginning and can save TONS of money.

 

[nageov3t]

can you afford it?

do you feel like getting stranded in the middle of nowhere with no cellphone reception when it finally does break down and the nearest town looks like something out of the closing credits of a horror movie?

 

[DaTT]

im torn though czu i could just wait till mine dies then buy another old car for like 5000$ and save a lot of money.

Sounds like you've already made up your mind, therefore you made a pointless thread.

 

[brianmanahan]

Sounds like you've already made up your mind, therefore you made a pointless thread.

not exactly, i can be swayed with a persuiasive argument.

and by new i mean "used new" aka like 2 years old. but it looks like those things are selling basically new prices even if they are 2 years old which stinks.

 

[JPS35]

Just wait until tomorrow...there will be lots of abandoned ones following the Rapture.

 

[blinblue]

Why not get a 5 year old car. Coming from a 15 year old junker to a 5 year old semi-junker won't cost too much and will feel like a great upgrade.

 

[lupi]

with the car cash gift from the gov'ment a couple years ago, much of the used market was swallowed up for some time in addition to reduce output of new cars (to become used) from the manufactures. this is the effect of that.

 

[Tea Bag]

Save up money from selling your pomes. They're all gold, you should have the money for a new car in no time.

 

[Zebo]

Only you can work the math. Basically I found buying 1 year old domestics was a good balance between value and vanity. Half off and not embarrassed to take SO out in. Course if I were optimal I'd still be driving my 78 nova I had in HS and just buy $800 crate engines every 10 years. I'da prolly banked 200K over the years that way.

 

[Bignate603]

If your car is running well and doesn't need any major repairs there's no way buying a new car will save you money. Period. There's no financial way to justify purchasing one. If you want one just to have something nicer, that's a reason to get a new(er) car but you are never going to find a financial reason to replace a well running used car that's fully paid for.

 

[Zebo]

If your car is running well and doesn't need any major repairs there's no way buying a new car will save you money. Period. There's no financial way to justify purchasing one. If you want one just to have something nicer, that's a reason to get a new(er) car but you are never going to find a financial reason to replace a well running used car that's fully paid for.

Good points. What major repair would justify a new car though? I've R&Red engines, transmissions, rebuilt rear ends, painted em just about everything and repairs are a fraction of new car prices.

 

[mugs]

with the car cash gift from the gov'ment a couple years ago, much of the used market was swallowed up for some time in addition to reduce output of new cars (to become used) from the manufactures. this is the effect of that.

Wow, you're a pathetic hack. Cash for clunkers required people to buy new cars - that is MORE new cars to become future used cars. It rewarded people for taking the most undesirable used cars off the road. Unless the OP is looking for an old, used car that gets less than 18 mpg, cash for clunkers would not affect him.

 

[brianmanahan]

Save up money from selling your pomes. They're all gold, you should have the money for a new car in no time.

you know ive tried, ive entered them in contests and competiitiosn and i have even made and printed my own compliations but no luck so far

 

[brianmanahan]

Only you can work the math. Basically I found buying 1 year old domestics was a good balance between value and vanity. Half off and not embarrassed to take SO out in. Course if I were optimal I'd still be driving my 78 nova I had in HS and just buy $800 crate engines every 10 years. I'da prolly banked 200K over the years that way.

shoot, when you put it that way... 200$k is a lot of money. so is 10$k or 15$k.

 

[lxskllr]

Good points. What major repair would justify a new car though? I've R&Red engines, transmissions, rebuilt rear ends, painted em just about everything and repairs are a fraction of new car prices.

When it gets to be more of a PITA than you feel like dealing with, but objectively, cancer. Mechanical stuff can be fixed, but once it starts rusting out, it gets expensive, time consuming, and ultimately a losing battle unless you sink boat loads of money into it, or are highly skilled at improvising repairs.

 

[bruceb]

I agree, when it starts to get all rusty or looking like swiss cheese, it is time to replace it. Same goes for how well the interior is holding up. All torn, ratty looking or pieces falling apart, time to replace it. As to mechanicals, you are the one who can tell how well the engine, transmission and front end are doing. If they are sound, keep it. If it needs major work, then get rid of it.

 

[Fingolfin269]

You have a mentality that is very tough to come by. Don't try to get talked out of it. Either drive your current beater until it dies and then buy an upgrade for $5k or just go out and buy an upgrade for $5k now while you might still have a little bit of trade-in value on a car that runs. Don't get talked into the new car/slightly used car game if you can help it.

*** edit *** If you do decide you want to buy a brand new car let me know and I'll get you a discount.

 

[Bignate603]

Good points. What major repair would justify a new car though? I've R&Red engines, transmissions, rebuilt rear ends, painted em just about everything and repairs are a fraction of new car prices.

That's true. However, when you're pretty sure you're looking at multiple major repairs in the next year or so that changes things. A dead transmission can be fixed and if that's the only problem then you can save a ton of money. Transmission dying, engine on its last legs, and AC is shot? You could fix those for less than a new car, but it sounds like your car is getting to the point where you're going to have more and more problems start to show up. When multiple expensive things need fixing I consider it time to switch.

But then again, just because your car is dying doesn't mean you need a NEW car. I tend to buy 10+ year old things that are in decent shape, then hold on to them until they're completely dead. I did the math once and figured out that my cost of ownership for the cars we have now has been less than $100 a month, including cost of purchase and major repairs. There's no way I could have as low of a cost of ownership with anything new.

 

[mizzou]

you always lose money on new cars

you may or may not lose money on old cars

 

[OILFIELDTRASH]

I had a perfectly fine paid for small truck I traded in on a gas guzzling brand new f150 with all the bells and whistles. It was a stupid financial move and I really don't care. I don't drink, smoke, go to bars, waste money on junk, and I just sold my motorcycle. I wanted a nice truck. I work hard and take care of my business. My truck makes me giggle like a little school girl especially when I hear the rumble of the v8. Driving somewhere now is something I look forward to instead of dreading it. Last night it took $88 to fill it up at $3.63 a gallon and I'm still smiling.

 

[Jeff7]

I just find it a bit sad that mileage doesn't seem to have improved. I've got a '97 Hyundai Elantra GLS that gets around 35mpg highway. Some of the hybrids available today don't even match that, and the more efficient gas-powered cars I found are still right around there.
14 years have gone by since my car was made. Where are the improvements in efficiency?