Am I ready for a new car?

debodun

debodun

SF VIP
Location
way upstate in New York, USA
With all the things going wrong on my car all of a sudden (air conditioner intermittently working, dashboard warning light, creaking and thudding from underneath), I've been debating whether it's better to put the money into repairing a 15 year old car, or get a new one that would probably last me for the rest of my life now that I am retired?
 

I finally broke down this spring and traded in my 14-year-old car on a new one. Knowing the frequent seven-hour drives I was going to have to be making over the next couple of months and with a summer of driving in the mountains coming up, I figured it was time. I did feel like I was taking the old gal to the pound, though. I hope the next owner loves her as much as I did and takes care of her.
 
debodun said:
With all the things going wrong on my car all of a sudden (air conditioner intermittently working, dashboard warning light, creaking and thudding from underneath), I've been debating whether it's better to put the money into repairing a 15 year old car, or get a new one that would probably last me for the rest of my life now that I am retired?
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There are all those things you mentioned plus the safety and security of having a more reliable vehicle. If you can afford it and still feel like you can and will be driving for a while, why not?
 

Hey jujube,

I wouldn't think it would be necessary to "break down" before trading your old ride for a new one!

In January 2012, I bought a new car without breaking down, and I paid cash, because I think car payments are ridiculous.

Cheers,
HiDesertHal
 

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I hate it when things start nickel and diming you to death. I'd invest in a newer used one myself . The price of brand new ones will send you into shock !
 
debodun said:
With all the things going wrong on my car all of a sudden (air conditioner intermittently working, dashboard warning light, creaking and thudding from underneath), I've been debating whether it's better to put the money into repairing a 15 year old car, or get a new one that would probably last me for the rest of my life now that I am retired?
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Sounds to me like you need to obtain regular maintenance on your vehicle. Do you have a mechanic that you visit for oil changes, tire rotations, inspection which they would point out what does or will need attention in the now or near future? How many miles are on this vehicle? AC may just need recharged if its working intermittently. A vehicle only runs as well as the person chooses to maintain it.
 
Get a new one, nickel & diming to death is a killer. :p

I have to work on my 18 year old truck, because I'm a mechanic, and also because a new house is cheaper than a new truck!
 
I'm no mechanic, but the problems with your car sound Expensive with a capital "E". If you need a car, you're going to need a safe one. There are way too many things that will influence your decision that we don't know. Your age. Your health. Your finances. Your driving habits.
Let us know what you decide. I'm getting to the same place, too.
 
It doesn't sound like you do your own mechanical work so since it's 14 years old and starting to dig into your pocket because of it's age I think it's time for a new one if the funds are available.
 
Have no idea of your financial status, whether you will pay cash or finance a different/new vehicle. We have not purchased a "new" car for decades. Even when I was running 30,000 miles/year and dumping my vehicles at around 150,000 miles, I never replaced with "new". We have always purchased low miles used. When you drive a new vehicle off the lot, the depreciation is dramatic. Also, the taxes and insurance are much higher on a current model than a vehicle one or two years old. We always tried to find one with around 10,000 miles. My wife's current car had just over 3,000 miles on it when we got it.

We ALWAY purchase from a franchised dealer and purchase a "certified" used vehicle from them. As I worked over a multi-state area, I ALWAYS took my vehicle to the dealership in that area for oil changes and any other maintenance. I did not know "Sam's Repair" from "Mike the Mechanic". I NEVER rec'd less than professional service from the numerous dealerships I visited. I found most dealership oil change costs are competitive with any of the "fast lube" places.

The downside of purchasing used is if you need to finance. Financing rates can be higher for used vs. new as manufacturers offer financing incentives to move the new vehicles. Most credit unions and some banks will have competitive interest rates. Some new cars will see 0% financing. You just need to call your insurance agent and your local County Treasurer's office to check on insurance and tax rates. Do the math and see which would be the best way for you to go.

Good luck in your search for a vehicle.
 
debodun said:
With all the things going wrong on my car all of a sudden (air conditioner intermittently working, dashboard warning light, creaking and thudding from underneath), I've been debating whether it's better to put the money into repairing a 15 year old car, or get a new one that would probably last me for the rest of my life now that I am retired?
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I vote new.
 
HiDesertHal said:
Hey jujube,

I wouldn't think it would be necessary to "break down" before trading your old ride for a new one!

In January 2012, I bought a new car without breaking down, and I paid cash, because I think car payments are ridiculous.

Cheers,
HiDesertHal
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Well, I took it in for an oil change and to have a "safety check" and it ended up needing $600 in work, so that pushed me over the edge. I don't like car payments, either, so I put my negotiating hat on and got a great price/put as much as possible on my charge card for the points and wrote a check for the rest. Of course, I went straight home and paid off the charge card. Can't stand balances, either.
 
I have the same dilemma, with an old pickup. The way I have to use it, it gets scratched a lot. I'm afraid a new truck would cramp my style because I wouldn't want to get that first ding in it.

When it turned 100K miles, I took it to a reliable service place and asked them to bring it up to date in maintenance and repairs. Including a leaky radiator replacement, which I wasn't aware of, it cost about $2K. A friend told me that would get me through a couple more years. That was 5 years ago. But pretty soon I'll have to bite the bullet. It is 21 years old and about 140K miles now. Not looking forward to it.

There seems to be a point where you just lose confidence in the vehicle. You start imagining being stranded with a broken water pump, etc. It's psychological mostly. I'm getting close. It depends a lot on how much you drive too. Just driving around town, not out in the country roads, wouldn't bother me as much.
 
My old vehicle was about the same age as yours, I think. But I made a different decision. I sold my pickup, and I won't replace it. I'm out pf the driving game forever. I didn't really need to continue driving. We have what I consider to be an efficient system of buses where I live.
 
Last year my Saturn I had driven for 13 years finally bit the dust with unrepairable transmission problems. I bought a 2 year old low mileage car that was basically in mint condition. Every bit as good as a new one, but cost a heck of a lot less both in actual cost and in taxes and title stuff.

The immediate loss of value when you buy a new car is ridiculous. If you look around, you can find very nice lightly used ones. Buy from a dealer, not some ad in the paper.
 
Buy a demo from a dealership. I worked at dealerships for years and they allow their top sales people and the owners to drive a new car to show to customers and they take the cars at home. Get one that has around 5-10000 miles on it. The warranty will still be good. Also get to know the service manager and the service writer. They want to know you and when they do a good job mention it to the dealer and they will remember you and fit you in you have a time problem, etc. They love good customers and will give you an extra service like maybe a wash and vacuum on the house. The dealer wants goodwill! I worked at Ford dealerships but saw that when their cars reached 60-70 thousand miles they started having major problems. After I left there I only bought Toyota corrollas and they last forever. I last bought a Toyota demo with 5000 miles on it. Will probably be the last car I buy.
 
My dad used to say that buying a used car is buying someone else's problem since nobody gives up a good working car. However, a friend of mine bought a new Ford Taurus 2 years ago and she's had it to the dealership garage numerous times. What's going on in the auto industry when new cars have so many breakdowns?

Of course, there's always a leasing option. That way I could trade in for a new car every few years. Do you need a credit card to lease?
 
I would go to a large volume dealer that specializes in of lease cars. Sun in Cortland is one and I am sure that the Albany area also has one

You can get a low mileage car with the remainder of the factory warranty and save probably 5000 off the cost of the same model new. You can usually negotiate another 2 grand of the asking price, something you won't be able to do on a preowned at a new car dealer. (Margins on used is their money maker)

No you probably won't be able to get 0 interest but 2.99 is certainly possible.

As an aside, It never fails in internet car buying discussion that some folks jump on and brag about paying cash for their cars. Kind of tacky in my mind. Serves no purpose but to feed the ego and to backhandedly insult those that don't have the means to do so.
But as long as you are King all is good.

Also, I hope you realize that if you paid cash you did not get the best price. Dealerships earn a kickback from the banks for generating business for them.

The thing to do if you like being a repeat customer is let the dealer finance and get his lender points. Make usually 3 interest bearing payments and then pay off the loan.
 
Hey Robusta,

I'm the one who brags about paying cash for 7 out of the 8 new cars I bought since 1962.

In my experience of having bought 27 automobiles since 1951, I've found that paying cash does get you a more favorable deal!

I'm sorry if this is offensive to you.

Sincerely,
HiDesertHal (Jackie says hello.)
 

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No actually cash does not get you a better deal,it works as I outlined above.

Why do you feel the need to brag about your wealth? I don't really think that many if any of us care about your net worth. In my world financials are considered private and ostentatious displays of wealth are gauche.

Sorry if I offended you!
 
No wonder I get the stink eye from salespeople when I say "It'll be a cash deal." or "I'm going to finance it through MY bank." I thought they'd be happy not having to figure out all that financing gobbledegook. Some have refused to sell unless I financed it AND trough the dealership.

BTW - Has anyone ever read the book "The Car Buyer's Art: How to Beat the Salesman at His Own Game" by Darrell Parrish?

Another ploy is to find out the dealer's invoice price minus their holdback, then offer $500 more than that figure. If the dealership balks - walk.
 
debodun said:
No wonder I get the stink eye from salespeople when I say "It'll be a cash deal." or "I'm going to finance it through MY bank." I thought they'd be happy not having to figure out all that financing gobbledegook. Some have refused to sell unless I financed it AND trough the dealership.

BTW - Has anyone ever read the book "The Car Buyer's Art: How to Beat the Salesman at His Own Game" by Darrell Parrish?
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I've never met a car salesman that wouldn't take my money!
 

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