Auto repair vs purchase (1 Viewer)

[Tin Cup]

I’d ditch the Chevy. Wouldn’t put 4 grand into that car. At the age and mileage where issues are going to start piling up.

This.

I was in a similar situation with a 2008 Santa Fe that was (long) paid off.

On any given occasion, it seemed to make more sense to repair it (usually $800-$2000) vs. buying a replacement. After the 3rd time in two years I was faced with that decision I realized I was sick of throwing good money after bad. I bit the bullet and found a great deal on a Hyundai Kona. Have not regretted it even once, even on the days the Kona payment is due

 

[Da Guru]

my last car had 130k on it, hit an issue where repair would have cost me between 3500 - 4000. way more than the car was worth. that was the final straw for me.

i traded it in for what the dealer would give me and bought a new used car. that was 7 years ago so the prices were reasonable.


2 years ago (early covid) my wife traded her car in and bought new. we recently went comparison shopping because i'm considering a new vehicle here soon and we found that her car, same year, but with more miles costs MORE used today than what she paid new 2 years ago.

it's wild out there.

Used car prices are starting to settle down a little now as dealers are getting more inventory. They are still higher than they should be but better than the last year.

 

[belljr]

TUrned out this time the engine code was catalytic converter - so either the timing code message from last year was a mistake or BS.....

either way I turned down the 1600 repair quote and the guy said I don't blame you

ETA: last year was told timing chain when check engine came on

I cleared the code and its been fine until yesterday

This time it was catalytic converter - my reader usually gets that but not this time. Anyway - I'll clear the code again and keep going

 

[pollardsvision]

I'm of a mind that in a normal car market, sell when the car's >100k miles and you're looking at repairs $2k or >. This stupid market makes the decision much more difficult. We're coming up on the holiday season and end of year, if dealers have any new inventory in December you may be able to wrangle a deal. I say wait, drive the Chevy as little as possible and try your luck new in 2 months.

You'd probably think I'm nuts.

I just put $1200 into a '96 Honda that was technically totaled over a decade ago.

I've got an '01 Toyota with over 300K miles that I've just put $1800 into and still don't know what's wrong with it (towed it to 4 shops over the past 18 months that are all shuked). Still planning to shell out more . Now this one, I'm admittedly a little stupid about, but I know that and don't care. I've had that car for 21 years and have a stupid emotional attachment. Also, for the 1st 300K miles, it never had a single repair other than routine maintenance stuff. So, now that it needs it, I'm fine with it. If we can get over this one hump, I'm sure this car has another 200K miles in it.

Generally speaking, if I believe in a car, I'm fixing it. Then again, I'm 43 and I've never sold a car (only given away or sent to junkyard).

I certainly agree about the car market and waiting. A lot of people are saying things could be much calmer next Spring.

 

[cudjoekey10]

I'm of a mind that in a normal car market, sell when the car's >100k miles and you're looking at repairs $2k or >. This stupid market makes the decision much more difficult. We're coming up on the holiday season and end of year, if dealers have any new inventory in December you may be able to wrangle a deal. I say wait, drive the Chevy as little as possible and try your luck new in 2 months.

You'd probably think I'm nuts.

I just put $1200 into a '96 Honda that was technically totaled over a decade ago.

I've got an '01 Toyota with over 300K miles that I've just put $1800 into and still don't know what's wrong with it (towed it to 4 shops over the past 18 months that are all shuked). Still planning to shell out more . Now this one, I'm admittedly a little stupid about, but I know that and don't care. I've had that car for 21 years and have a stupid emotional attachment. Also, for the 1st 300K miles, it never had a single repair other than routine maintenance stuff. So, now that it needs it, I'm fine with it. If we can get over this one hump, I'm sure this car has another 200K miles in it.

Generally speaking, if I believe in a car, I'm fixing it. Then again, I'm 43 and I've never sold a car (only given away or sent to junkyard).

I certainly agree about the car market and waiting. A lot of people are saying things could be much calmer next Spring.

Don't think you're nuts at all. Cars can be emotional for us and if an older car has been almost always reliable I can see the decision to get it fixed rather than ditch it. Particularly if you're super attached to it. Good luck I hope both cars run for a long time to come.

 

[Grahamburn]

I’d ditch the Chevy. Wouldn’t put 4 grand into that car. At the age and mileage where issues are going to start piling up.

This.

I was in a similar situation with a 2008 Santa Fe that was (long) paid off.

On any given occasion, it seemed to make more sense to repair it (usually $800-$2000) vs. buying a replacement. After the 3rd time in two years I was faced with that decision I realized I was sick of throwing good money after bad. I bit the bullet and found a great deal on a Hyundai Kona. Have not regretted it even once, even on the days the Kona payment is due

Gotta love how everyone seems to get a “great deal” every time they buy a car. “I couldn’t pass it up! I got such a great deal!”

You spent maybe $4k fixing the Santa Fe in two years, which you’d already spent as a sunk cost, but will have paid (conservatively) $10k on the Kona with how many years left to pay on it? Plus whatever you had to plop down at signing.

Everyone feels a little more secure in a new car, but you’re not saving any money by doing it.

 

[belljr]

I'm of a mind that in a normal car market, sell when the car's >100k miles and you're looking at repairs $2k or >. This stupid market makes the decision much more difficult. We're coming up on the holiday season and end of year, if dealers have any new inventory in December you may be able to wrangle a deal. I say wait, drive the Chevy as little as possible and try your luck new in 2 months.

You'd probably think I'm nuts.

I just put $1200 into a '96 Honda that was technically totaled over a decade ago.

I've got an '01 Toyota with over 300K miles that I've just put $1800 into and still don't know what's wrong with it (towed it to 4 shops over the past 18 months that are all shuked). Still planning to shell out more . Now this one, I'm admittedly a little stupid about, but I know that and don't care. I've had that car for 21 years and have a stupid emotional attachment. Also, for the 1st 300K miles, it never had a single repair other than routine maintenance stuff. So, now that it needs it, I'm fine with it. If we can get over this one hump, I'm sure this car has another 200K miles in it.

Generally speaking, if I believe in a car, I'm fixing it. Then again, I'm 43 and I've never sold a car (only given away or sent to junkyard).

I certainly agree about the car market and waiting. A lot of people are saying things could be much calmer next Spring.

I dont disagree with fixing it - if this was an accord or camry or something similar I would probably get it fixed. For my current needs - I don't need a second SUV as my "daily" commuter