To buy or not to buy...

[rennigade]

My grandfather is selling his vehicle. Its a 2000 buick lesabre with 40,000 miles. Garage kept...basically its in tip top shape and he's driven really slow his entire life. New the car was around $28k...leather, its a "boat" as they say but very comfortable, leather, etc. He wants to sell it for $3,000 (basically kbb price.) I could not care less that its labeled an "old person car."

We currently have 1 vehicle...toyota corolla, 140,000 miles...hoping to get another 100,000 out of it. My wife will be buying some sort of suv within the next year or so. We'll probably wait until theres a 0% financing just because.

Ill also be purchasing my dads tacoma within a year or two when we relocate because I would want/need a pickup truck.

My dilemma is I know my grandfathers car is going to last longer than our current corolla considering it has 100,000 less miles. Id hate to not buy it because not only is it inexpensive but again the longevity. When we move I have a feeling I will be driving around 30-60 miles/day to work...would be a great commuter car. I know some frown on buying a car solely for commuting but this its really cheap.

We have the money to purchase so thats not a factor. If you were in my shoes would you buy it (again...forget the look of the car...its not a "cool" car.)

edit: also...I would be purchasing the minimal amount of insurance I could. I wouldnt pay for the one where if I crash it it pays out...I always forget the name...so insurance wont be a lot either.

[Nutria]

Lots of things just wear out from plain old age. Mostly plastics and rubbers, where the VOCs just evaporate, but also leather. (Living in the garage away from UV and IR helps, but doesn't prevent.)

[Jluke]

so if I'm following this right, you want to go from 1 car to 4 cars (corolla, buick, suv, Tacoma)?

jealous you can get that many miles on vehicles. I drive slow, but mine start failing at 100k-115k.

[msomnipotent]

It kind of sounds like buying something just because you have a coupon. You are going to need a truck and already plan on a new SUV, plus you already have a daily driver that you expect to keep for another 100,000 miles. Are you planning on selling the Corolla and putting off buying another car while you have this one? Plus, I would assume you would need to replace the battery and tires with such low mileage. Old tires with a lot of tread left can still have weak spots.

[rennigade]

It kind of sounds like buying something just because you have a coupon. You are going to need a truck and already plan on a new SUV, plus you already have a daily driver that you expect to keep for another 100,000 miles. Are you planning on selling the Corolla and putting off buying another car while you have this one? Plus, I would assume you would need to replace the battery and tires with such low mileage. Old tires with a lot of tread left can still have weak spots.

The tires were just replaced. Not sure about the battery.

Yes that would mean possibly 4 cars...although I could get rid of the corolla. Our driveway is about 1/4 of a mile long, all uphill...so when winter hits we need 4 wheel drive to sometimes get out. Some years it barely snows but others the driveway is hard packed with snow for months at a time...so wife will have suv and ill have a truck...plus these other vehicles.

Id have no plans on buying any other cars if the corolla or buick died...I would just continue using the other one until that one died.

4 cars is a lot for 2 people. Its not like they're luxury cars by any means but there is upkeep and other expenses so Im kind of torn. I told my wife if I dont purchase it within the next year our corolla will break down to the point of not worth it to repair then ill have to buy a new car. Im not into buying used unless I know who its from...again this goes against what a lot of people here go by...different strokes.

[msomnipotent]

You could sell the Corolla now while there is some value left, buy the LeSabre, and then sell that for close to what you paid for it next year when you need to get the truck. You would be paying a bit more for gas, but you might come out ahead if the Corolla starts breaking down.

I wouldn't buy a used car from a stranger, either. Then again, I haven't had much luck with most of my cars and they were all bought new, Corolla included.

[snafu]

I suggest scooting to a library for an older edition of 'Lemon Aid' to check the repair record for that year and model vehicle to help with the decision. A 17 y/o vehicle is old in spite of modest mileage. We're not DIY auto mechanical so we don't buy vehicles more than 3 y/o but we keep them until it's no longer cost efficient to keep up with repair.

Basic Liability Insurance [required] covers only the other vehicle or thing, less deductible if you are cited at fault. Adding Collision insurance covers your car. Adding Comprehensive insurance covers non collision damage like fire, theft, a tree falling on car type accident.

[scfr]

I like the idea suggested of selling the Corolla and then buying grandpa's car (after checking repair history for that make/model/year as also suggested). And then when/if you or wife decide to buy a SUV or truck, then sell the Buick.

From a financial standpoint, I am not a fan of a 2-adult household having 4 vehicles. Even if you don't carry collision/comprehensive, you still have to pay for insurance, annual licensing fees, annual inspections (if required by law), and minimal maintenance even if some of the vehicles aren't driven much. Not to mention needing somewhere to park the vehicles out of the elements.

[rennigade]

I like the idea suggested of selling the Corolla and then buying grandpa's car (after checking repair history for that make/model/year as also suggested). And then when/if you or wife decide to buy a SUV or truck, then sell the Buick.

From a financial standpoint, I am not a fan of a 2-adult household having 4 vehicles. Even if you don't carry collision/comprehensive, you still have to pay for insurance, annual licensing fees, annual inspections (if required by law), and minimal maintenance even if some of the vehicles aren't driven much. Not to mention needing somewhere to park the vehicles out of the elements.

Well if anything we're eventually going to be a 3 car household. Suv, truck and car. The truck would not be a daily driven vehicle...only for hauling/towing or getting out of driveway when winter dumps snow. I plan on having a car as a beater (which my corolla is perfect for since its been in 8 accidents since 2008..but still works like new and actually looks really good for what its been through.)

[msomnipotent]

Are you going to be able to park your car at the end of the driveway when there is snow, or just drive the truck around town during the winter? Some of my family lives in the country with long driveways. They use an ATV or sled to get from their house to the garage when there is mud or snow, but their garage is close to the street.

[rennigade]

I decided not to buy it. I thought insurance would be a lot cheaper than it was. I did a few quick quotes and they were all around $500 for minimum coverage. I didnt feel like ponying up that much every year. Just hoping the corolla goes another 100k miles.

[bjl584]

Even with only 40K on the clock, you are still buying a 17 year old car. You might be facing other issues. Cracked and worn hoses and seals. Coolant issues. Electrical problems due to aging and brittle wiring harnesses and connectors.

I'd probably pass especially with plans in the near future to buy two more cars, SUV and pickup. Four cars is a lot to keep after and insure.

[TexasHusker]

My dilemma is I know my grandfathers car is going to last longer than our current corolla considering it has 100,000 less miles. Id hate to not buy it because not only is it inexpensive but again the longevity. When we move I have a feeling I will be driving around 30-60 miles/day to work...would be a great commuter car. I know some frown on buying a car solely for commuting but this its really cheap..

Have to disagree here. The Toyota is up to a 300,000 mile car. A GM V8 car is a 100,000 mile car. The Toyota will far outlast the OldsmoBuick, even with a 100,000 mile head start.

I'd keep the Toyota.

[rennigade]

Have to disagree here. The Toyota is up to a 300,000 mile car. A GM V8 car is a 100,000 mile car. The Toyota will far outlast the OldsmoBuick, even with a 100,000 mile head start.

I'd keep the Toyota.

I hope so. And I was wrong on the mileage...it had 60,000 miles. But either way 4 cars for 2 people doesnt make sense and wouldnt have been a smart purchase. Although it probably would have been my new "whats the biggest financial mistake you've every made" comment on those type of threads.

Thanks everyone for the feedback.

[TexasHusker]

I hope so. And I was wrong on the mileage...it had 60,000 miles. But either way 4 cars for 2 people doesnt make sense and wouldnt have been a smart purchase. Although it probably would have been my new "whats the biggest financial mistake you've every made" comment on those type of threads.

Thanks everyone for the feedback.

Nahhh. If it only cost you a few $ grand it couldn’t be that big a mistake.

One thing though we didnt discuss - the OldsmoBuick’s ride would be easier on your back and hiney - that’s gotta be worth something !