YACT: Used car repairs, how frequent?

Red

Diamond Member
Aug 22, 2002
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I know this question is extremely difficult because of the hundreds of factors involved, but here is my situation:

I'm selling my '02 Civic for $11,900 to get a cheaper car to get my credit cards paid off. It should sell soon so I've really been researching older cars. I'd like to spend around $5,000-$8,000 and in that price range, nice used cars WILL probably have at least 75k miles and higher. I really don't mind miles at all if a car has had the proper maitenance. That '85 Toyota Celica w/ 125k miles I had ran perfectly, but I'd be looking at something along the lines of these cars this time around: 93+ Acura Legend / 95ish Lexus ES300 / 95ish Toyota Avalon/Camry... etc. Many of these cars have 100k+ miles and my family/friends have been saying its absolutely rediculous to buy a 10 year old car w/ 100k miles, regardless of maintenance. They said that if I need a good car for $5,000 - $8,000 I should get a 99ish corolla w/ 60ish thousand miles and be done with it.

I'm obviously going to do whatever I want, but I think a mid-90s Japanese car in great shape w/ proper maintenance would be much more car than a newer / fewer miles Corolla. I tend to also think that the more expensive cars are going to have a better chance of being maintained than cheaper cars (Civic,Corolla,Sentra) that might have been given to college kids or younger adults who would probably neglect maintenance more often than someone with a luxury. Obviously each car will have its own story, but I'm talking more often than not.
 

flot

Diamond Member
Feb 24, 2000
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Honestly this seems like a bad idea.

If you get $11,000 for your car, and you buy a $7000 used car... you are only "saving" yourself $4000.

However, you will be getting rid of what is presumably (reportedly) a very dependable car *with warranty* that will likely have NO repairs in the next 2-3 years. In contrast, any used car will have SOME repairs over 2-3 years. Remember that few people get rid of a car when it is running great - if they know they are going to sell it typically it undergoes at least some form of neglect in the last 6 months to a year.

Are you willing to gamble that you won't have $2000-3000 of car repairs on your used car over 3 years? Granted that IS a lot of repair budget - but it would only take 2 or 3 major failures to start pushing that #...

Just something to think about. There is a LOT to be said for having a newish car.
 

Red

Diamond Member
Aug 22, 2002
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Originally posted by: flot
Honestly this seems like a bad idea.

If you get $11,000 for your car, and you buy a $7000 used car... you are only "saving" yourself $4000.

However, you will be getting rid of what is presumably (reportedly) a very dependable car *with warranty* that will likely have NO repairs in the next 2-3 years. In contrast, any used car will have SOME repairs over 2-3 years. Remember that few people get rid of a car when it is running great - if they know they are going to sell it typically it undergoes at least some form of neglect in the last 6 months to a year.

Are you willing to gamble that you won't have $2000-3000 of car repairs on your used car over 3 years? Granted that IS a lot of repair budget - but it would only take 2 or 3 major failures to start pushing that #...

Just something to think about. There is a LOT to be said for having a newish car.

I'm selling it for $11,900 so if I were to purchase a car for $7,000 it would be closer to a $5,000 savings. That is almost a 50% savings, so yes, I would do that in a heartbeat. Let's say 2 years from the transmission dies in the mid 90s Acura Legend. Let's say I have to throwout $2,000 for a repair... I'm still keeping $3,000 in my pocket that I would be paying on my credit cards. Your points about reliability are valid, but I'm willing to gamble on a used car at this point. I wouldn't gamble on a less-reliable vehicle however, that is why I'm trying to limit myself to Toyota/Honda/Nissan/Subaru.

 

virtueixi

Platinum Member
Jun 28, 2003
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You would have to pay 2x the sales tax. I would also say to keep the civic. It's as reliable as it comes. There is no gurantee that the new used car you buy (no matter what brand) won't require repair.
 

Red

Diamond Member
Aug 22, 2002
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Originally posted by: MercenaryForHire
Keep your car, cut back on the dining out, and save money that way.

- M4H

Merc, I would be saving much more money by adjusting my car finances. I bring home $1000 month. My car payment=$346 ... car insurance $170 ... gas $50 ... that's 56% of my monthy expenses. My fiancee and I eat out twice a month, about $40 a pop... so that's $80 month.

If I could get a nice mid-90s camry for $5,000 and finance it for 48 months my car payment would be roughly $120. My insurance would drop to about $120 a month also, and gas would stay at $50 a month. So then we're talking $290 per month versus $566 per month.
 

Red

Diamond Member
Aug 22, 2002
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Originally posted by: virtueixi
You would have to pay 2x the sales tax. I would also say to keep the civic. It's as reliable as it comes. There is no gurantee that the new used car you buy (no matter what brand) won't require repair.

Exactly, and that is why I'm including repair costs in the final deal. Right now, no matter what... I owe $11,900 on a Civic with high insurance.

If I am able to find a mid-90s japanese car for roughly $5,000 - $8,000, even with 3,000 - 4,000 worth of repairs, I'll still be saving money as well as having cheaper insurance and a car I really like.
 
Jun 18, 2000
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How much have you already paid into the Civic? It would help to know how upside-down you are going to end up by selling the Civic for $12000.
 

CraigRT

Lifer
Jun 16, 2000
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Buy a Nissan, their resale value isn't as good as Honda and Toyota... therefore you can pick one up cheaper than the equivalent Toyota/Honda

I still think just keeping your car and finishing the payments is the best idea.
 

StageLeft

No Lifer
Sep 29, 2000
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If you're interested in this from a pure money standpoint, going from a car worth $12k with a warranty and a known history, to one worth $8k with inevitably higher maintenance and repairs (brakes on a sentra cost a lot more than brakes on a maxima, for instance) I think you will not be saving anything significant.

I'd still take the econobox, because it will have a lot less miles, and repairs almost across the board are cheaper on a corolla than on a lexus.
I still think just keeping your car and finishing the payments is the best idea.
Agreed.
 

flot

Diamond Member
Feb 24, 2000
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You are also not factoring in all the other costs of the used car.

Sales tax is a big one, right off the bat you'll be out another $500 for tax and registration fees.

Then your used car will need tires. ($250)
And brakes. ($200)
And fluids will have to be changed soon after you buy it, if you want to be assured that maintenance has been done ($200)

Suddenly your used car just cost you another $1000.

And you said "you will be selling your car for $11,900" which I took to mean that was your asking price... I honestly don't know what the resale value of an 02 civic is, but don't forget to factor THAT in as well, just becuase you want $11,900 doesn't mean you'll get $11,900. Oh and don't forget $60 to have the car detailed, $50 to put an ad in autotrader, etc, etc.

If you REALLY want to go cheap - consider buying a dirt cheap used car, in the $2500-3500 range. You WILL have repairs, but those repairs will likely be significantly less costly. Own that car for a year or so, and along the way save up some $$ for something else.

But, again, it really seems like a poor move financially. You've already taken the depreciation hit of buying a new car. Nothing will "undo" that for you.
 

Spencer278

Diamond Member
Oct 11, 2002
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If you really want to save money go with a cheaper car like 2-3k ford escort or old mazda. You will want a car that is rather popular so that there are lots of used parts out there. Also avoid any thing that is complex it will cost more and be more likely to brake like automatic transmissions, trurbos, all wheel drive.
 

Lifer

Banned
Feb 17, 2003
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keep the car for safety, reliability and peace of mind.
u don't know how the other car holds up as much as you know ur own.
 

virtueixi

Platinum Member
Jun 28, 2003
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Originally posted by: Lifer
keep the car for safety, reliability and peace of mind.
u don't know how the other car holds up as much as you know ur own.

LOL civics aren't exactly best when it comes to safety.

 

BurnItDwn

Lifer
Oct 10, 1999
26,066
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Originally posted by: Compton
you could go with an 82 cutlass. you could probably find one for about $400.



One of my co-workers traded in his late 90s Jeep Cherokee Sport for an 85 cutlass about 6 months ago so he could pay off some bills. He drives about 50 miles each way to/from work (he lives in one of the southern chicago suburbs ... while work is in the NW burbs) .. He hasn't had any problems with it so far.