Does it pay to keep older cars?

[Andrew1972]

No idea.

We drive a 2005 Subaru turbo wagon with 210k miles because my wife liked it (especially manual transmission) AND we dumped $3000 into it 2.5 years ago for valve job and bunch a parts because motor out. The upside has been all the 100k maintenance was done for parts only then so we just have driven with oil changes and it been paid for since 2006.

 

[Olas]

Originally Posted By: BrocLuno
Is it all about dollars and sense, or are the ergonomics included? If I had a way to get my '53 Hudson back for any sort of reasonable money, I'd take it in a heart beat. Or my G2 blown Ranch Wagon. They are long gone due to the vagaries of a miss spent youth

To old to crawl in and out of a lowered Sirocco any more, but that was a heck of ride

Same with the Audi 80.

I know I beat on cars. Slowing down some as I get older, but still hit the loud pedal often enough ... I buy cars with 100,000 on the clock and fix as needed. Can't stand the hit if I park it in an oak tree while owning a ton... Just does not work for me. All older and all quick. Even the 1970 Chevy truck (BBC)

Never too old to crawl in and out of a lowered & braced scirocco, it's financial sense and ergonomics in one! Not to mention fun

 

[The_Jeff]

Originally Posted By: demarpaint
I keep my cars until the beg to be junked. I do most if not all of the work myself. Typically rot and fatigue from NY roads will bring them to the junkyard. I have yet to get rid of a vehicle because of an engine or transmission problem. The last vehicle went to the junkyard because the suspension was shot, body rot, a broken windshield, rotted out exhaust system, and a few other items. It was no longer worth fixing. OTOH my van will be 30 this year, and is in fantastic shape for its age, I have no plans of replacing it.


I had this then sold the car and saw it more than a year later still on the road!

 

[CBR.worm]

I have 3 10-12 year old cars. The G35 has almost 170k on it and had needed very few repairs and minimal maintenance. Just tires, brakes, oils, etc plus wheel bearings. Bought new, very low total cost to operate, and there are no suitable replaxements that would not cost far more too operate.

An '08 BMW 528i w/ just over 100k, still on OE brake pads. Out of warranty repairs have been a proactive cooling system replacement - over $1k, but still very low TCO over the last 9 years.

An '06 Infiniti FX45. This vehicle has the worst life, doing almost all city miles. Nearing 160k miles, it has d been the most expensive to maintain. Failures are rare, but we have had to replace worn out suspension pieces, a starter, a door lock, repair a PS leak, valve covers, u-joints on the front driveshaft, engine fan (cracked), etc. Brakes and tires rarely make 15k miles. When it isn't in the city, it is pulling a trailer on many thousandths mile trips through the mountains. Overall it is still cheaper than a new car. My biggest issue is that most of the parts are no longer available. My biggest concern is that when the transmission or engine fail, there are not many spares and my TCO will then be higher than a newer car.

My other concern is that I don't know what in would replace them with, as no new cars that I can afford appeal to me enough to make the cash outlay, or sign up for financing. I have enjoyed the years with no car payments.

 

[wander2039]

Don't have the option of buying new so doesn't matter to us. But if things were different I'd buy 2 year old cars and keep them 5 years and trade at that point. Can't complain with our current line up though. Had to spend to over $2k to fix the Focus AC twice, can't blame it regarding that since it was a botched install the first time. Just spent $450 on it for tires and alignment. Nothing major on the Escape just a few design flaws, the best vehicle I've ever owned. Both still run and drive just as good as any of the new vehicles at work. Granted I take care of my equipment that's what sets us and BITOG apart from the crowd.

Actually had to do more the RV chassis in a short time than those two. A new trans will probably needed around 100k. It is a Chevy after all. My history with this make I'm not surprised.

 

[zzyzzx]

Originally Posted By: ford46guy
The other thing is putting parts in a 20yo car does nothing for its value - you could have a brand new moog front end, new brake lines and hoses, new calipers, new ford radiator, new this, that and it is worth the same as someones neglected POS.

Am I missing something here?


Yes, it's that most people putting parts into a 20 year old vehicle are using the cheapest parts that they can find. Therefore if a car is advertised as having a bunch of new parts, I assume that they are the poorest quality new parts available.

In so far as keeping older cars, my 1995 Escort gets the same or better gas mileage than most new cars, and has less bells and whistles that break, so no need to upgrade.

 

[ford46guy]

Originally Posted By: zzyzzx
Originally Posted By: ford46guy
The other thing is putting parts in a 20yo car does nothing for its value - you could have a brand new moog front end, new brake lines and hoses, new calipers, new ford radiator, new this, that and it is worth the same as someones neglected POS.

Am I missing something here?


Yes, it's that most people putting parts into a 20 year old vehicle are using the cheapest parts that they can find. Therefore if a car is advertised as having a bunch of new parts, I assume that they are the poorest quality new parts available.

In so far as keeping older cars, my 1995 Escort gets the same or better gas mileage than most new cars, and has less bells and whistles that break, so no need to upgrade.


Thing is that even if it has the best parts, with the best BITOG maintenance, there is still a real risk of a 2-3K engine or trans failure in a 20 yo car. You can't say a 90yo bodybuilder has the same life expectancy of a 40yo bodybuilder. I think that is why they all sell around the 1000-2000 mark.

 

[Malo83]

My 83 Silverado that I bought new has been a family member for the last 33 yrs, still has the original engine block, heads and manifolds, all of the accy's have been changed or rebuilt once or twice, transmission has been rebuilt twice, paid for the first rebuild with AAMCO and got the lifetime warranty, with 230K on the clock she's been my daily driver from day one. Had the whole AC system reworked last year, I like my old truck and have had many offers to buy it, she's a keeper and worth every penny

 

[Subdued]

I don't think I'll ever buy a new car again. My plan is to buy them at 3-4 years old and then keep them until they start costing real money to keep on the road.

So far the most expensive things all of my cars have needed are tires and struts, both wear items.

Heck, my Yaris was on the original brakes until about a week ago...2k miles short of 150k

 

[Schmoe]

Here's my dilemma...the 06 Accord is my daily driver, about 117K on it now...I average about 17K a year. Have a 13 year old daughter. Do I get me that middle age crisis car I've been wanting now...a used 2 Accord V6 and ease off on the 06 for her to drive in 3-4 years? Or keep driving it...if all goes to "plan," yeah...right...I should be around 190-ish K on that 06 when her time comes and hope it holds together for a teenager, and then get me that car I wanted. Another thing, that being a V6, I wonder what insurance for her will be like? The One Who Must Be Obeyed, TOWMBO...the wife, will keep getting a new car every 4-5 years when warranty runs out. She being a call/traveling nurse, drives that CRV around 23K a year and she's paying for it, likes the mental security that it will not break down on her when she's driving through an ice storm, out running a tornado or blizzard, well, that's just her thing. Trade in value on that 06 isn't all that much now. I just don't what to do. Inside, I hate to buy a used car and then go through all that worrying for my daughter, I'd take the plunge and get a certified used Honda from my dealer with a warranty and not worry about it.

 

[sleddriver]

I tend to keep my cars a long time. I've only bought two since 1983. Both Swedish. First a SAAB 900T and now the sled. I put 256,000mi on the first and kept it for 14yrs. The sled now has a bit over 217,000 and I've owned her for 18yrs. Obviously, I don't drive as much as I used to. The last new car I bought was the 900T in 1983.

For me, I stay with what works and take care of it. Did A LOT of work on the sled last year. I did it all myself. Total parts outlay was about $600. And just a few weeks ago, the PS rack needed replacing.

New vehicles are incredibly expensive...and complex. That means they'll depreciate quickly. However with interest rates near 0%, easy money available, and an itch to switch, most don't keep their cars very long.

 

[BrocLuno]

Originally Posted By: MCompact
I tend to hold on to cars for at least 8 years or so; the only car I bought new was the 3 Series as it was a limited edition of less than 300 and I was able to order it without a hole in the roof. I've had the 3er for 21 years, the Wrangler for 15, and the X3 for 12. When I traded my 2007 MS3 last year it had 158,000 miles on it and was still running great- I was just one and done with FWD and I wanted a reasonably quick RWD DD/track toy. I'm thinking I'll hold on to the 2er for at least another 7-8 years.


Me too

Always impressed with older cars in nice shape

Anyone with a pulse can buy a new car. Big deal ...

 

[Dave Hess]

Originally Posted By: Schmoe
Here's my dilemma...the 06 Accord is my daily driver, about 117K on it now...I average about 17K a year. Have a 13 year old daughter. Do I get me that middle age crisis car I've been wanting now...a used 2 Accord V6 and ease off on the 06 for her to drive in 3-4 years? Or keep driving it...if all goes to "plan," yeah...right...I should be around 190-ish K on that 06 when her time comes and hope it holds together for a teenager, and then get me that car I wanted. Another thing, that being a V6, I wonder what insurance for her will be like? The One Who Must Be Obeyed, TOWMBO...the wife, will keep getting a new car every 4-5 years when warranty runs out. She being a call/traveling nurse, drives that CRV around 23K a year and she's paying for it, likes the mental security that it will not break down on her when she's driving through an ice storm, out running a tornado or blizzard, well, that's just her thing. Trade in value on that 06 isn't all that much now. I just don't what to do. Inside, I hate to buy a used car and then go through all that worrying for my daughter, I'd take the plunge and get a certified used Honda from my dealer with a warranty and not worry about it.


If she is driving a lot, it's good she has a reliable car and peace of mind it won't break down.

 

[jeepman3071]

I just sold a snowblower to a lady with a 98 Grand Cherokee with the 4.0L. I commented that it was in pretty good shape. She said, "Thanks, I bought it new. It just passed 320k miles".

For a vehicle in the rust belt I think that is pretty good. The headliner is sagging, and it needed a new trans at 200k, but besides that she said just normal maintenance stuff and weekly washes.

 

[M1Accord]

Originally Posted By: Schmoe
Here's my dilemma...the 06 Accord is my daily driver, about 117K on it now...I average about 17K a year. Have a 13 year old daughter. Do I get me that middle age crisis car I've been wanting now...a used 2 Accord V6 and ease off on the 06 for her to drive in 3-4 years? Or keep driving it...if all goes to "plan," yeah...right...I should be around 190-ish K on that 06 when her time comes and hope it holds together for a teenager, and then get me that car I wanted. Another thing, that being a V6, I wonder what insurance for her will be like? The One Who Must Be Obeyed, TOWMBO...the wife, will keep getting a new car every 4-5 years when warranty runs out. She being a call/traveling nurse, drives that CRV around 23K a year and she's paying for it, likes the mental security that it will not break down on her when she's driving through an ice storm, out running a tornado or blizzard, well, that's just her thing. Trade in value on that 06 isn't all that much now. I just don't what to do. Inside, I hate to buy a used car and then go through all that worrying for my daughter, I'd take the plunge and get a certified used Honda from my dealer with a warranty and not worry about it.


My 02 Accord has no rust partially because I sprayed some rubber paint underneath when I bought it with 0 mile on it. It has a little over 200k miles and looks perfect inside but very rough outside. The engine purrs like a kitten amd still kicks [censored] while taking names. I am just hoping it passes stupid state inspections as I drive kess than 5k miles a year now and would like to keep it to drive to amd from the commuter lot as well as occasion trips to airport or 600 miles and under travels round trip for work and save for a new vehicle I really want. Wish list below in case anyone feels generous.

For your case, I would put that 06 on the lift and inspect it for rust and rust proof it if necessary. I would also be generous with transmission fluid change, which I do every 2 years for my vehciles. In 3 years, your Accord would habpce about 150k miles and will be perfect first car fior a 16 years old. She can take it to college but that does not eliminate your responsibilities to keep the flipuid change, probably more often than needed as kids' lack of experience can cause oil to break down faster. A fresh battery when she takes it over and another fresh one when she takes it to college should do the trick. New tires, brakes, and wipers are keys. Personal, I would make a hobby out of upkeeping my kid's ride amd teach the key lesson of saving up to pay cash for cars, saving for house first, amd drive vehicles within their mean.

Oh here is my wish list that I dont mimd holding off for as long as possible. I make $135k a year but I like driving my first car, 2002 Accord as it has more character than someone's new car that they have to take to shops for oil change,

2017 Civic Hatch LX, fog lights option welcome
2017 Wrangler, my 1500 meters round trip to the commuter lot can afford to feed this gas hog
2017 Tundra Crew Cab and lowest trim amd no option
2017 Mustang GT, auto
2017 Accord LX
2017 Toyota GT-86, auto
2017 Forrester
2017 Crosstek
2017 Outback

 

[M1Accord]

Originally Posted By: jeepman3071
I just sold a snowblower to a lady with a 98 Grand Cherokee with the 4.0L. I commented that it was in pretty good shape. She said, "Thanks, I bought it new. It just passed 320k miles".

For a vehicle in the rust belt I think that is pretty good. The headliner is sagging, and it needed a new trans at 200k, but besides that she said just normal maintenance stuff and weekly washes.


Jeep should never have gotten rid of the Cherokee and its 4.0l. That vehicle and its legendary engine rank up there with Corolla 1.8l, Accord 2.4l, and just about any vehicle and engine combinations I could think off. I believe the Cherokee's transmission was a Toyota product.

 

[Anduril]

Wife's Cavalier has cost us a grand total of $47/month (including the purchase price, not including things like gas, oil, insurance, and registration) for 10 years/135k miles of service. Bought in 2006 with 100k on it for $2700. That includes some overpriced work done at a shop because we didn't have anywhere to work on it ourselves for the first several years.

New car payment would be several hundred so we've come out very much ahead.

 

[cjcride]

Yes it pays to keep the car if you are mechanically inclined.
Yet if you can afford a new or newer car why not treat yourself. We can't take the money with us.

 

[SteveSRT8]

When I was a single dad with 3 kids we drove beaters. You just have to know how to fix them. Maybe have a spare if you can.

When you have a new (er) car you will quickly see if it is a "keeper" or not. Whether you keep it because of its superb utility (my 70 Impala 4 door), its reliability, or its entertainment value, some cars are just worth hanging on to.

 

[MCompact]

Originally Posted By: SteveSRT8

When you have a new (er) car you will quickly see if it is a "keeper" or not. Whether you keep it because of its superb utility (my 70 Impala 4 door), its reliability, or its entertainment value, some cars are just worth hanging on to.


Exactly! I'm probably going to hang onto my Club Sport and Wrangler forever. Too much fun and too many good memories...