Fix a 10yr old car 200K+ miles, or buy/lease new?

[Solo2driver]

Oh dang just got back from the Subaru dealership...they had a couple of the '10 Foresters left on $179/mo lease offer, but the colors were, uh, less than desireable and the one good one was a Manual trans.

OTOH, they had a 2011 WRX Limited in the exact color and package I want (other than the sunroof/extra weight) with a $309/mo lease deal. Hmmmmmm. The back seats in the WRX are bigger than in my Legacy (and much bigger than the '02 WRX racecar). I could sell the Legacy and the WRX racecar, and daily drive the new 2011 WRX as well as race it in Showroom Stock with the SCCA without any penalty from Subaru of America or the dealership.

That would cost me a little bit more per month in auto insurance, but would probably break even with reducing the stable by 1 car for extra insurance, fuel, etc. I checked with my tax professional and they did say that my business use percentage of the lease amount is deductible for tax purposes.

Soooo many options!

 

[Patman]

Originally Posted By: Jeepster_nut


On a personal note, I am buying a 2010 Corvette next month. I'm even opting for the extended warranty and I am going to enjoy every minute of it!



Very nice! Have you decided on what color/options you want yet? There are still tons of 2010s left out there on dealer lots so I'm sure you'll be able to find exactly what you want even though 2010 production is long over and the 2011s have been out for a while. In case you don't know about it, here is a website which allows you to search all the new Corvettes in stock on dealer lots across the US:

http://jeffhardy.com/lookupvette.php

Right now this site shows 2010s, 2009s, and yes even one new 2008 is still out there!

 

[Steve S]

Judging by the car is at the end of its life be the accumulated list of work to be done makes me wonder is the trans has been maintained and the odds and ends maintained like lubing the hinges and locks and treating the weatherstripping etc? Then it might be better to get into a new low priced car. I am not sure about a GM product or a lease though. Cars are a waste of money and should be viewed as a utility rather that a Toy. Unless you get the deal of a lifetime don't buy the car. There is a down economy!!!

 

[tonycarguy]

If you want to look at it from a strictly objective, financial point of view, then just compare the total cost per mile of your existing vehicle versus the new one. Total cost would be repairs, insurance and depreciation in price.

Then factor in the intangibles: a new car is nicer, safer, has more features, probably more reliable (which means less headaches and less likely to leave you stranded).

Do that and decide what's best for you. For me, the sweet spot is a 1-3 year old car.

 

[andyd]

Apples and oranges maybe, I bought an 88 528e in '96 with 150k,miles on it. I drove it 11+ yrs and 200k with no breakdowns. This takes almost constant minor maintenance. I have been doing this for over 40 yrs, its starting to lose its luster.