Keep or sale

[M1Accord]

I have a 1992 Corolla and am at a cross road. The car runs fine, get great gas mileage, and is actually quite reliable. However, in two years I think I would be spending roughly $1500 to replace parts to keep it running. Things that need replacement will be timing belt, water pump, 2 front pads, 2 rear shoes, both CV joints assembly (just replace the boot for temporarily and see that the other 2 will be out soon), drive belt, and all 4 tires. I wouldn't mind doing it if it was a newer car with airbags, ABS, and all disc brakes but this is not the case. While it is reliable, it may not be safe to drive comparing to other cars made after 1998.

Should I keep this and replace the parts or sale it for $1000 and put that toward a economy car such as 2000 Corolla or even Camry I4 that would be much safer and only cost about $4000 at that time and are worthwhile to replace parts, if neccessary. This car is just too small to be safe on long trip.

If I sale this, it would be in 2 years when things need replacing and I'll be in better financial situation to buy another car. I would love to get a FIT though but that is out of my price range for a small car.

 

[pzev]

Sounds like you already made up your mind, as you mentioned your safety concerns several times in the thread.

Sometimes, people just need a new car. Honestly, I think you have gotten your use out of it. That said, a beaters value should only be questioned when the cost to keep it running approaches the costs of paying for a new car. In this case, 4k for a new car, or 1.5k to keep the beater running. An economist would tell you to keep the beater, strictly from a value point of view.

That said, if you no longer feel safe or comfortable driving the car, its time for something new. Regardless of any value concerns, personal feelings towards a vehicle count for much more...if you can't stand to own the car anymore, then its time to replace it.

 

[M1Accord]

The parts needing replacement is just your typical parts that wear out. They'll need replacement in 2 years; the timing belt, water pump, and drive belts probably can be used for 3 more years but I am not rolling that dice and get stranded. I usually replace things as needed. The engine and transmission are very strong, which is quite sad because the car has only 100k miles which makes them practically virgin. The car itself is old and has non of the safety features of a modern car. The reason it gets close to 40 mpg is simply because it is very light, which means there isn't any protection in the doors or body. Two years from now a 2000 Camry will probably be around $4k and with $2k to replace parts, if needed, I would have the car with most of the modern safety feature such as airbags, traction control/stability control, large disc brakes, crumble zone, and much more. It is sad to let a good reliable car go. If it was a large Buick or some American land yatch, I would keep it but I don't feel safe driving it. It is my first used car purchased strictly for gas mileage and DC commutting. I should have gone with a Camry or Accord but I was experienced in car shopping.

It is a perfect car for inner city though since speed is never enough to cause serious injuries if accident occurs. I live out in a stick and takes major highways and interstate to go places; therefore, it is not safe. Some college kids will enjoy it and probably won't need the change the oil in the 4 years or so he/she is at school.

 

[GOPHER FREAK]

I'd repair and keep driving but that's just me. Even if you buy that $4000 car, you really have idea of how well it was cared for. I also remember something about the corolla and camery engines of that era being sludgers where you could have major problems and regret it later.

http://www.corolland.com/sludge.html

 

[JHZR2]

My 91 bmw has discs, abs, airbags, is reliable and gets great mileage.

I intend to keep all mechanicals going as I wont find as good, reliable, mechanically simple, nice car out there. Are some other cars better? sure. But I think my situation is similar to yours.

You won't really do better... and you have a vehicle that is effectively free. unless rust gets the car, Id keep after it.

 

[SLCraig]

How about this?

4 used tires.
brakes are just plain cheap and have to be done on anything.
don't touch the CV shafts until/if they fail.
how much could a water pump cost? DIY.
don't replace the timing belt until/if it fails.

$200??

 

[M1Accord]

This car has no issue, it is just older but the engine and transmission are practically virgin at 100k miles. Believe it or not, buying new tires are much better than buying used. New tires costs twice as much but comes with lifetime free rotation, balancing, and repairs. If the tires are really that good, people wouldn't sale them to tire shops to be sold as used tires. Used tires are mostly that, very used and only have about 10k miles. The current tires on this Corolla have about 15-20k miles and they are Michellin Energy, which really help the gas mileage. If I do replace the tires, I would probably get some rims to go with it. That way I can take the wheel set out if I do sell the car.

I would definitely keep it if it has airbags and abs or that I live in inner cities where speed limit never gets past 25 mph. I am really at the cross road as this is a fine vehicle to go to and from work, which is only a mile away. I may keep this to keep insurance low and get a nice FIT to drive on vacation.

 

[GOPHER FREAK]

Originally Posted By: M1Accord
I may keep this to keep insurance low and get a nice FIT to drive on vacation.


Your current car fits 99% of your needs very well. Why not rent a FIT for your vacation? You can rent a little car like that for around $200 per week.

 

[firemachine69]

It's funny you mention that. When I go on vacations and need to rent a vehicle, I'm usually after a Suburban, or a Jeep GC, at the least...

 

[M1Accord]

I hate the idea of buying new car simply because a minor blemish would ruin my day(s) and that just create more stress to life than neccessary. Some people love new car and must have one all the time, I simply prefer safe and reliable transportation in a top priority and classic heritage as a secondary.

 

[HM12460]

i'd also keep the '92 corolla. the car you're considering has been reported to be a known sludger. all the repairs your '92 will need in 2 years may very well be needed on your "new" used car as well. if the body and sub frame aren't about to fall apart in pieces from rust, i'd keep driving it. otoh, if you just want a newer car because you think it's time thats your decision. you are the one that gets to pay for it. at that point it doesn't matter what any of us think.

 

[Cutehumor]

I sold a 1992 Mitsubishi Mirage 133k miles back in 2007 because it became the third vehicle when I got the 06 vibe new. The engine/trans was solid. It too needed a timing belt/water pump preventative maintenance, new tires, muffler, the blower fan just died, and the trunk was leaking water when it rained. At least a $1000 in maintenance bills. The year before, I just put a new starter, plugs/wires, cap/rotor, and fuel filter myself. I think the straw that broke the camel's back was that it didn't pass inspection because of the muffler had a hole in it. I sold it because I didn't want to put money into it for a third vehicle that I hardly drove. I paid insurance for three vehicles for an extra 8 months if that tells you I couldn't make up my mind about what to do with it. That car didn't have airbags or ABS just like your Corolla. It got close to 40 mpg too. Safety never crossed my mind, I looked at it in terms of a financial perspective. I had to fix the muffler to pass inspection and the blower fan motor. It was just too much for me since I had my other vehicles. I never worried about safety, if I did I be driving a Hummer H3

. Since Safety is your main concern, if you don't feel safe driving it, you should sell it.