Announcement

Collapse
No announcement yet.

At what point do you decide to replace a car?

Collapse
X
  • Filter
  • Time
  • Show
Clear All
new posts

  • At what point do you decide to replace a car?

    I'm curious to hear everyone's thoughts on this. I know some of you like to get a new car every few years but this question is for the folks who are like us and keep cars long term. How do you decide that it's time to replace your car? Do you do it at a certain mileage? A certain vehicle age? Do you wait until something major breaks, and if so, what exactly is your tipping point as far as repair costs? I always struggle with this decision so I'm wondering what criteria others use.
    Steve

    * Despite the high cost of living, it remains very popular.
    * Why should I pay for my daughter's education when she already knows everything?
    * There are no shortcuts to anywhere worth going.

  • #2
    Good question. For me 10 years regardless of mileage. But could be sooner if I experience a lot of problems. And rarely do I keep it longer than 10 years. I'd rather get a little bit of money by selling it rather than running it until it dies.

    Comment


    • #3
      Originally posted by QuarterMillionMan View Post
      Good question. For me 10 years regardless of mileage. But could be sooner if I experience a lot of problems. And rarely do I keep it longer than 10 years. I'd rather get a little bit of money by selling it rather than running it until it dies.
      Thanks. Do you buy new? We buy used so a flat time period wouldn't necessarily make sense.
      Steve

      * Despite the high cost of living, it remains very popular.
      * Why should I pay for my daughter's education when she already knows everything?
      * There are no shortcuts to anywhere worth going.

      Comment


      • #4
        Basically, when it doesn't fit our lives anymore. Sometimes that's been when I was moving to/from overseas, so I sold my car rather than trying to ship it, or store it for years on end. Or when we had our second son, we replaced both of our cars for more space & better access to the back seats (both of us had small, 2-door coupes -- not carseat friendly, as we learned with the first).

        Theoretically, that would also mean mechanically unreliable. I don't care about miles or age, as long as the car still works well... But I'd look to replace a car if it's breaking down frequently (more than 2-3x in a year would probably have me car shopping), or if random repairs are costing too much (say, half the value of the car in a year's span... If I've got an $8k car with $4k in repairs, or a $4k car with $2k in repairs...I figure I can go out & buy a similar but more reliable replacement, and break even within just a year or two).

        I've gratefully never had any significant mechanical problems with any of my cars, but for various reasons I've also never really owned a single car for longer than 4-5 years...which kills me every time I sell one, because when I buy a car, my thought is always that I'm buying it for 8-10 years, but that has yet to pan out. I'd love to drive a car until the wheels fall off, knowing I've gotten every ounce of use from it.
        "Praestantia per minutus" ... "Acta non verba"

        Comment


        • #5
          Great question and I'm curious the responses, too. We have had other cars, there were legitimate reasons for getting rid of those. Major accident, a lease (not doing again), and too expensive to fix repair (based on our financial situation at the time) were reasons we let go in the past. I have a 2007 Honda Odyssey that is about to hit 150K miles. I spent about $2000 in repairs last year. That was a hard one honestly. But we aren't ready to add a car payment, we are trying to cash flow college, so this was less expensive than buying a new to us car.
          My other blog is Your Organized Friend.

          Comment


          • #6
            Usually around 100k miles things start going downhill for my vehicles. I purchase brand new.

            I’ve been keeping my commuter car for 5-6 years.

            i also own a second vehicle for myself. One I had for 15 years (2-door coupe) before I traded it in for the current vehicle (large SUV) which is 5 years old now.

            At this stage (no more college costs, paid off home) I would really consider adding a brand new car to your household. Assuming you are looking at Toyota’s.

            Otherwise a CPO of a luxury brand would be a good choice.

            Comment


            • #7
              It has been different things a wreck/ repairs becoming to be not worth it/ finally last one drove until it was almost dead. The car i have now is very low mileage and has almost no repair other then basic wiper replacements etc. I will hold on to this for awhile.
              I look around and many people seem to replace every few years or maybe as options and things change they just want the newest gizmos.

              Comment


              • #8
                Originally posted by disneysteve View Post

                Thanks. Do you buy new? We buy used so a flat time period wouldn't necessarily make sense.
                Yes I buy new.

                Comment


                • #9
                  Last vehicle I got rid of the unibody was rusted beyond repair.

                  Age & miles shouldn't be a large factor as practically any vehicle that is properly maintained should last 200,000 miles

                  As far as being "reliable", any car with 20 or 200,000 miles can break down.
                  Gunga galunga...gunga -- gunga galunga.

                  Comment


                  • #10
                    Thanks for all of the replies.

                    Repair costs are the area I struggle with the most. At what point is it not worth fixing something? I feel like you can't just go by book value on the car because it might be worth spending $2,000 on a $4,000 car if that means you get to drive it for 2 more years. That's still cheaper than replacing it. Of course, you're always gambling on nothing else breaking. And some of the repair costs are routine maintenance things like tires and brakes and such which aren't really a reflection of the car wearing out.

                    I can honestly say I don't remember the last time any of our cars broke down but we're very good about keeping up with all the routine maintenance. The only thing that I'd even call a "break down" is a battery dying and that's a simple fix that I can do myself if it happens at home or just call AAA and they fix it on the spot.
                    Steve

                    * Despite the high cost of living, it remains very popular.
                    * Why should I pay for my daughter's education when she already knows everything?
                    * There are no shortcuts to anywhere worth going.

                    Comment


                    • #11
                      Originally posted by disneysteve View Post
                      I'm curious to hear everyone's thoughts on this. I know some of you like to get a new car every few years but this question is for the folks who are like us and keep cars long term. How do you decide that it's time to replace your car? Do you do it at a certain mileage? A certain vehicle age? Do you wait until something major breaks, and if so, what exactly is your tipping point as far as repair costs? I always struggle with this decision so I'm wondering what criteria others use.
                      In general I prefer to drive cars into the ground. When I have to do engine repairs, about $3000-$6000 in repairs per year I am done with car.
                      I believe a car is worth about $500/month- so that is $6000 per year. If you get a $30k car, that would mean car should last between 5-10 years (5 years is $6k, 10 years is $3k). There has been only 1 car I have had for under 5 years.

                      I work for an OEM, so I get a good discount to buy new, and the car I have now I won't likely keep 5 years (it has been 2.5 so far). I am eyeing 2 electric vehicles in 2021/2022/2023 which I would like to see. I don't think my 2017 car will make it to 2023- it has 80,000 miles on it already.

                      Comment


                      • #12
                        Before I retired, we used to replace our vehicles after 8 years. We would stagger replacement so that every 4 years either DH or I would get a new vehicle.

                        We did a lot of driving and after 8 years we would typically have about 130k mileage.

                        We’ve had a couple of exceptions over the years. One exception was our Oldsmobile Silhouette — replaced after 6 years. It was probably my favorite vehicle in terms of comfortable ride. But, it kept needing expensive oddball repairs every other month or so. The last year we owned it we spent more than the vehicle was worth in repair costs. (We kept thinking if we just did this one more expensive repair, it would be good for a while... but, it didn't work out that way ).

                        We kept our Toyota Sienna for more than 8– (we would likely still be driving it as it was a very reliable vehicle even though it had about 130K miles on it, but it was totaled in an accident just after the 9 year point.)

                        My current vehicle just turned 14 years old. I don’t drive very many miles since I retired, so it only has about 72k miles on it. I still like driving it. It’s been a reliable vehicle and so far, I can’t think of a good reason to replace it.

                        Comment


                        • #13
                          When it's costing more to repair it or the mechanic says x, y, and z are coming or it doesn't suit our needs. I got rid of a great subaru outback because I wanted more space and it's been something i got earlier. DH got rid of a ford focus because it had twisted spark plugs, timing belt, etc. The mechanic said after 11 years it wasn't worth it. Sold it for $2200 and one repair was more . The guy who bought it fixed cars. So there is a point. Our 2006 hyundair sonata also had a bunch of repairs coming due at 10 years and while we got $6500 we decided it was time to get something newer. We bought something new. Right now I'm seeing that the minivan may not be kept till it dies. Maybe when kids are older and I need less space i'll switch it out? Who knows? I do buy used.
                          LivingAlmostLarge Blog

                          Comment


                          • #14
                            Originally posted by LivingAlmostLarge View Post
                            The mechanic said after 11 years it wasn't worth it.
                            I think this is probably the best way to tell. If you have a mechanic you trust who will give you a straight answer when you ask "Is it worth fixing?" and he says no, it's time to cut it loose. An expensive repair isn't necessarily a reason by itself if the rest of the car seems to be in good shape and still have plenty of life left in it.
                            Steve

                            * Despite the high cost of living, it remains very popular.
                            * Why should I pay for my daughter's education when she already knows everything?
                            * There are no shortcuts to anywhere worth going.

                            Comment


                            • #15
                              For us it's every 10 years. Our two vehicles are always 5 years apart so every 5 years one of us get's a new vehicle. Luckily for me it's my turn so I'll be replacing my 2010 Ford F150 4X4 with another one as soon as the 2020's come out. My wife will have another 5 years to wait! When our vehicles are 10 years old they still look showroom condition with low miles, never an issue getting top dollar on Craigslist.com. My current F150 will sell the first day to some lucky person.

                              Comment

                              Working...
                              X