Car maintenance budget rule of thumb

[HawkeyeScott]

Wondering if there are any thoughts on what an appropriate budget is for an older and paid-for vehicle. Asking because I have a 1997 GMC Yukon that’s a third vehicle for us. I sometimes commute in it and sometimes take it to the boonies. It‘s valuable as a back-up and also keeps miles off my primary truck, which I am actually storing this winter because I have the Yukon.

It‘s pretty solid but at 23, it does need some stuff from time to time. (Battery last month, tires in the next year or so, etc.) I do about 90 percent of the work on it and parts are plentiful and very affordable. It’s also been sort of fun to work on, and I enjoy driving it.

At some point soon, though, I’ll have invested about what I could get out of it. I’ll also have a decent vehicle I’d drive just about anywhere. I do plan on keeping it, at least for the foreseeable future.

Just wondering if there are any prevailing thoughts on what’s a prudent maintenance budget for a vehicle like this. Not necessarily a specific dollar amount, but something like percentage of resale value, dollar per mile driven, etc.

 

[bdcardinal]

For something like that I would think the acceptable limit would be higher. I bought my Silverado in June for $1,500. I have since spent significantly more than that in getting it in somewhat better mechanical condition. I figure a new truck would be substantially more money so I am saving a bunch while having a truck which is incredibly handy. Now if someone hits this truck and causes a ton of damage, then that might be the right time to cut my losses.

 

[fsdork]

I get the sense that I am willing to spend more than many people on repairing an older/lower value vehicle. I know many subscribe to the theory that you shouldn't put too much into such a vehicle, but if it is otherwise sound and has a single major failure, I think it's better to put the money into the vehicle you know and trust. Why dump a broken vehicle for pennies on the dollar just to turn around and buy a similar but unknown one that might blow up next week? The same principle applies to proactive maintenance.

With that said if my Explorer which is getting rustier by the day were to drop a transmission tomorrow, it would be headed to the scrap yard.

And yes, I realize I didn't answer your question as to a percentage of value, etc.

 

[14Accent]

That truck? I'd say there really is no "budget". It's a GMT400. Simple, proven, and best of all CHEAP. After Googling your location, I assume the truck is in Cali? If rust isn't a concern, and you do 90% of the work on the truck, just keep it forever. The biggest failure points on those trucks are the intake gaskets and injectors, along with the fuel pump. If all of those items are withing your mechanical ability you might as well keep it.

I've already put a couple hundred bucks in my $400 beater Jeep, and to be honest it runs so nice that I'd be willing to spend over the $1k-ish I think I could get for it just to keep it reliable and in my own stable. Sometimes you just find a vehicle that's worth more to you than it would be to anyone else, regardless of mileage and condition.

 

[01rangerxl]

Batteries and tires are things every vehicle needs.

Whatever you're willing to spend on a two decade old vehicle is a personal choice based on what it's worth to you. I wouldn't spreadsheet it and try to justify it, just spend what you think it's worth.

Myself, I'd totally buy tires and a battery for the old truck. I bought a 23 year old Explorer to replace a 27 year old Explorer that was wrecked beyond repair. First things I bought for it were tires, fluids, and battery. If it decides to eat its three timing chains, I'll deal with that then, but as long as it's a good running truck tires, brakes, batteries, etc are just the cost of owning a car period.

 

[wpod]

The sky is the limit.

 

[JeffKeryk]

When I got our Tundra, I went end-to-end and replaced all the wear items. Not all at once, but I kept at it.
All fluids and filters first. Then brakes and shocks (Bilstein). Spark plugs.
Craigslist found me a set of FJ Cruiser wheels, tires were good. I have since installed Bridgestones.
Andriod Auto radio and backup camera.

I would drive this truck anywhere.
That's what I would do ith your truck. Make it 100% and then just drive it.
Good luck and have fun with it.

 

[HawkeyeScott]

Thanks for the replies far.

No rust at all. It’s been in the high desert it’s whole life. It apparently threw a rod at 100k so the engine was rebuilt around 70k ago. Tranny is original at 170k which gives me some heartburn but shifts well enough and has new fluid and filter. I like and trust the guy I bought it from to the point we’ve stayed in touch since the purchase, and he seems to take good care of his vehicles. He bought it new and sold it to me for $1100.

I go fishing in some pretty remote areas, the kind where a tow and repair just aren’t available. So I’m thinking of doing some stuff proactively so I know what I have underneath me. Fuel pump, alternator and starter, along with tires and new front rotors are at the top of the list. I’ve done plugs, cap, wires and rotor and had the timing adjusted. New fuel filter, front pads, adjusted rear drums, thermostat, recharged AC, chopped oil cooler lines, new oil pan gasket, swapped all fluids but coolant, rebuilt front end.

I have to wear a coat and tie for work which makes pulling into the parking garage in a 23 year old SUV sort of funny sometimes. But we are who we are, I suppose, and you can’t help what you’re comfortable with. Same reason I spent $10 on my last lawnmower and just repaired my 12 year old vacuum, I bet.

 

[dishdude]

No rust and you enjoy the vehicle? I see no reason to not invest in it. Sounds like you got it for a steal at $1,100...just because that's all you paid doesn't mean that's all it's worth. Yukons, Tahoes and the like bring big money.

 

[AutoMechanic]

I’d totally fix it up. I’d much rather drive that around than anything made in the last 10 years or so and I think any mechanic would tell you that. I usually don’t budget myself. I’ve probably spent more on my Beetle than what it’s worth but it’s worth it to me. As for those Tahoe and Yukon and Suburban of that generation I see them around all the time so parts are definitely easy to get and that body style was more sought after than the rest of them. I just put an engine in one about 2 weeks ago guy pulled it from the junkyard where it had sat for years and the engine was knocking so we replaced it he plans to keep it till it falls to the ground.

 

[14Accent]

Thanks for the replies far.

No rust at all. It’s been in the high desert it’s whole life. It apparently threw a rod at 100k so the engine was rebuilt around 70k ago. Tranny is original at 170k which gives me some heartburn but shifts well enough and has new fluid and filter. I like and trust the guy I bought it from to the point we’ve stayed in touch since the purchase, and he seems to take good care of his vehicles. He bought it new and sold it to me for $1100.

I go fishing in some pretty remote areas, the kind where a tow and repair just aren’t available. So I’m thinking of doing some stuff proactively so I know what I have underneath me. Fuel pump, alternator and starter, along with tires and new front rotors are at the top of the list. I’ve done plugs, cap, wires and rotor and had the timing adjusted. New fuel filter, front pads, adjusted rear drums, thermostat, recharged AC, chopped oil cooler lines, new oil pan gasket, swapped all fluids but coolant, rebuilt front end.

I have to wear a coat and tie for work which makes pulling into the parking garage in a 23 year old SUV sort of funny sometimes. But we are who we are, I suppose, and you can’t help what you’re comfortable with. Same reason I spent $10 on my last lawnmower and just repaired my 12 year old vacuum, I bet.

If it's as nice as you say, who cares about the trans? $2k gets you a bulletproof 4L60E and another $5-600 gets it installed. New engine in front of it? Even better.

I will say, if the front end hasn't been touched yet you might as well plunk down for at bare minimum new steering parts. Everything from the gear to the tie rod ends. The linkage itself is probably fine "physically" but I can guarantee that the gear has plenty of slop in it after 170k. The suspension bushings have probably just about had it at this point, as have the torsion bars, but there is a point of no return here for sure.

I'd say a fresh set of good Bilstein's, new steering components, a quality alignment, and a healthy dose of love and affection will keep your truck on the road for a long time.

 

[boulderdentist]

Keep in mind that I suspect for insurance you have liability only. So saving on insurance premiums, no car payment, no sales tax, no depreciation as on a new or newer vehicle. Probably minimal license fees. If it needed an engine rebuild, or transmission I would send it to the junkyard. Otherwise you can do a lot of repairs and maintenance with your time. Compare to the payments on a new unit

Scott

 

[Kurtatron]

Splurge, responsibly, on what makes you happy. If you like the old vehicle and aren't strapped for cash, why not throw money at it. It will certainly be cheaper than any car saddled with monthly payments.

I went overboard and replaced the engine in my 1991 Toyota Van with a low miles engine, and swapped a grand worth of parts while the thing was apart. Its been running smoother than any other car I've owned for the last couple years. The obsession continues with storing the old undeserving Van all winter long to stave-off cancer. I enjoy the vehicle, so I throw extra money at it.

 

[ripcord]

The other thing to consider is the $$ you are saving on depreciation. If you're spending small fraction of a car payment on repairs on a useful vehicle that's already depreciated as much as it ever will, then you're doing OK. Unless it's a museum piece, thinking of an automobile as an "investment" is always a mistake.

 

[Kuato]

Wondering if there are any thoughts on what an appropriate budget is for an older and paid-for vehicle. Asking because I have a 1997 GMC Yukon that’s a third vehicle for us. I sometimes commute in it and sometimes take it to the boonies.

...

I do about 90 percent of the work on it and parts are plentiful and very affordable. It’s also been sort of fun to work on, and I enjoy driving it.

At some point soon, though, I’ll have invested about what I could get out of it. I’ll also have a decent vehicle I’d drive just about anywhere. I do plan on keeping it, at least for the foreseeable future.

Just wondering if there are any prevailing thoughts on what’s a prudent maintenance budget for a vehicle like this. Not necessarily a specific dollar amount, but something like percentage of resale value, dollar per mile driven, etc.

It's very subjective as to when to keep an older vehicle or not. In your position (and if I like the vehicle as you seem to), I typically do a 24-month look back, which allows for some major repairs. I don't count maintenance items like tires, brakes, fluid changes or light bulbs because those can go on any vehicle. When the vehicle is averaging more than about $150 per month, it's time for it to go, as the time invested in repairs becomes an inconvenience.

 

[jimbrewer]

I don’t think day to day maintenance even counts. You have to pay for batteries and brake pads no matter what you drive. It’s just a different car.

repairs on the other hand, are almost a dead loss.
Justification depends on two things: reduced depreciation and wear and tear on your principal vehicle is one. The other is whether the third car has significant capabilities your principal car does not.

Owning a pickup truck or a sports car when your principal car is a sedan is more justifiable than owning an extra sedan.

based on that, I would keep it.

 

[Puckrobber]

Nice purchase! I just bought a '99 Tahoe Z71 last week. It has 211,000 miles on the body, but, only 90,000 on the rebuilt engine. Looking forward to going many miles and years in my Bowtie!

 

[blupupher]

My '02 F150 is in a similar position.
I ride my motorcycle 90% of the time, take my wife's Santa Fe for family trips.
Truck gets used on rainy days and for occasional hauling stuff or times I don't feel like gearing up.
A big part of this question is how much of the work will you be doing yourself?
I got the truck for free 7 years ago, spent ~$3,000 on engine replacement (had a shop do it) and another $1,500 (parts, did labor myself) on all the other neglected stuff to get it running and driving well.
Since then, had an alternator, manifold intake, fuel pump, and computer go bad. Aside from the computer, I did all the work myself.
I have needed 2 batteries, 2 sets of tires, 1 set of brakes, plus all the routine vehicle costs (done by me).
I keep thinking about getting another truck, but ask myself "what would a newer truck do that your current one won't?", and my answer is nothing, so I keep it.
Aside from engine failure or some major repair I can't do myself, I plan on keeping it till it becomes too unreliable.
Right now, I would get in it and drive anywhere in the US at a moments notice.

 

[HawkeyeScott]

Good stuff. Always good to hear from people who tend to look at these things like I do and see value in older - but still useful - vehicles.

Tires will be the big purchase but I can chip away at the smaller item to-do list this winter. A starter here and an an alternator there. Fuel pump and coolant flush in the spring, so on. The longer I keep the primary rig parked, the more I can justify updating this one.

 

[Nick1994]

My Jeep is somewhat similar. It was my grandpa's, so it's a sentimental thing that I'll never get rid of. I'm 26, and I'll have this Jeep in 50 years. I've spent a lot on it, from a new catalytic converter, new axle bearings, transfer case bearing, had the driveshafts rebuilt and balanced, A/C compressor, injectors, entire cooling system, suspension, tires, alternator, starter, fuel pump, etc. replaced. The paint is peeling on the roof and hood. So one day I'll have to get it stripped to bare metal and repainted. I haven't gotten any quotes yet, but it'll probably be about $5k. More than what its worth but I'm ok with that.

My point is, with older cars it's hard to put a budget toward maintenance. You never know what they're gonna need. But it's cheaper than a $750 car payment for a new one.

Unless it's a Camry. Mine has been ridiculously reliable and cheap.