Metric for when it's time to move on

[supton]

A 2011 Camry is hardly an old car, so why not do the work and get several more years rather than just a year.

I still think it's only got 2 years of life left. After that I'm not interested--it'll be time for a brake line to go or something otherwise drastic, or just be that rusty. Once rust sets in, it goes fast.

See what Carvana or similar might give you for it, it may be more than you think. 236K in the rust belt, that'll be really fun to do suspension & brake work on!

Yep.

 

[The Critic]

I would install new tires and try to push out the other items for another year.

If the car has 2 years left, max, I don’t see the point of any repairs if you can find a way to squeak by for inspection.

 

[Barkleymut]

if you were to get another/newer car, what would it be? Would you finance? Is cash flow an issue or are you more a total cost of ownership type owner? Lots of variables.

 

[CharlesInCharge]

This question is akin to asking which woman you should marry. It's extremely subjective and based on your finances, life expectancy, amount you drive, and 50 other metrics.

But if you're an average (*paycheck to paycheck, little in savings, 10k miles annually, etc.) American, keep the 11 year old Toyota Camry and maintain it. $3000 in maintenance and repairs is not much money in terms of vehicles, repairs, maintenance, etc. I don't include normal maintenance, unless it's extreme (e.g. tires worn on current vehicle, but a newer car comes with newer tires saving about $500-1000...). It might be wise if you know you are down to the last % of value and can get something out of it before it's completely depreciated to nothing. But consider:

The hassles and transaction costs (taxes, registration, etc.) of getting a newer car will dig into any perceived "savings." A newer/better car - let's say $15,000 - will be ~$2000 in taxes and fees and higher insurance. If you take a loan, there's fees involved. And it will also at some point need repairs and maintenance. Then there are unknowns...big hidden issues. And our national/global economic situation is scary and fragile now, with soaring inflation.

I've tried explaining this using real numbers and financials using a spreadsheet to a friend in 2019 who did not listen to my advice to keep the truck: He got rid of a reliable Ram pickup (he took a bath on the trade-in) and took on a large car loan for a "fuel efficient" car to save $30 per week on fuel for his long commute. Shortly thereafter, used truck prices tripled and he lost his job so his car loan became a significant burden but no "fuel economy" savings... REALLY BAD MOVE>

 

[Job]

Selling a Camry is pretty easy now, and the price isn’t going to get much higher probably. They get a lot for them. A Toyota dealer might want it just to get people to come look.

 

[Hall]

I still think it's only got 2 years of life left.

I wouldn't do anything more than maintenance, breakdown repairs, or safety-related then. If it needs (2) new tires, put on (2) not (4). If it needs a battery, put in a $59 Value battery from Walmart. This isn't about being cheap either or "screwing" the next owner. If someone suggests that, I presume they give a year warranty on their private-sale, used car deal too....

 

[CharlesInCharge]

Selling a Camry is pretty easy now, and the price isn’t going to get much higher probably. They get a lot for them. A Toyota dealer might want it just to get people to come look.

But - the replacement costs will be inflated and higher as a raw dollar amount and %.

 

[javacontour]

Somewhat of an Apples to Oranges comparison, but we got 14 years and about 273k miles out of our 2002 Camry in the STL metro area. Rust wasn't really an issue, just the oldest car in the fleet when we bought our new RAV4 in October 2016.
If your car is anything like ours, you probably do have about 2 years and 40-50k miles left in it.
Nothing says you cannot do the bare minimum and start saving what you would make in payments on a replacement for the day when it dies. The longer you can keep driving the one you have, the bigger down payment you'll have for when that day comes.
As you mentioned, you have a spare car in an older Camry, so you wouldn't be without a car.
I've even rented when my car was in the shop for a prolonged period of time.
It's good that you are thinking about it now.
As I suggested before, you have time to think about how much you want to budget for a car. If you are going to make payments, you can start today making payments that would include expected insurance for the replacement and see how comfortable you are with that budget item before you commit to 5 years of payments, if that's the way you roll.

 

[supton]

if you were to get another/newer car, what would it be? Would you finance? Is cash flow an issue or are you more a total cost of ownership type owner? Lots of variables.

Probably go new if given half a chance. Used market is nuts and not a good value I think. No real pickings for new but I haven't looked too hard.

Haven't figured out the logistics. Put down a chunk and finance the rest. Juggle the budget until it works. Plan on a 10 year / 250k lifespan and go from there.

I like the idea of buying well used and doing that again, but it's quite the gamble. Might wind up buying... the same thing I'm trying to unload.

I would install new tires and try to push out the other items for another year.

If the car has 2 years left, max, I don’t see the point of any repairs if you can find a way to squeak by for inspection.

It's getting to where I don't feel comfortable with it on the highway. We bought the wife her new car as this one was feeling "old", wandering like a drunken money going down the highway. It really needs those struts apparently... Tires are just shy of a safety issue, I've run tires to the bars in the past and I'm past that in life. And I'm starting to wonder if I want to push it with that missing dust shield, as that has got to impact braking performance. And I don't know what it is, if I drive an automatic I *never* use the parking brake--but in a manual I *always* use the parking brake, and I really would like to have that fixed as a result.

I'm getting uncomfortable with this car.

Not that my '99 Camry is any better, it wanders on the highway too, and I have to turn off the HVAC if I stop at a light, not sure what it is but it's got that faint exhaust smell coming through the vent (passes inspection though, and just had the flexpipe replaced). And it needs tires and headlights--headlights are bad enough that I don't drive it at night anymore.

I've skirted on by the last several years with as little sunk into these vehicles as I can, I'm not surprised that I need to spend money.

But if you're an average (*paycheck to paycheck, little in savings, 10k miles annually, etc.)

Don't think I qualify for average here. Not awesome, but definitely not "average".

 

[addyguy]

I’m usually a dump it and move on kind of guy; but in the current market, I’d fix up what you have. Prices are high, deals are few, inventory is low, interest rates are rising…
I’m going to be wringing every last mile I can out of my G5, even if it nickles and dimes me to insanity. I’d like to get another 2 years out of it as well.
I run a retail garage; and I can tell you with certainty I fix up a lot of older, rusted cars that people would not have fixed 2-3 years ago…

 

[CharlesInCharge]

Don't think I qualify for average here. Not awesome, but definitely not "average".

Well then why ask? Go leverage yourself or pay top dollar for a used car. Easy enough.

The rest of us are going to squeeze the last mile from our daily drivers and trucks. I simply cannot afford the massive price increases on vehicles.

 

[supton]

Well then why ask?

Simple. I'm a big believer in collecting data and double checking assumptions. I don't like to assume that I know the best decision simply on the basis of... being me? Seems wise to ask around and see what the collective wisdom is, and then sort through the data, see if my initial preliminary path still makes sense.

Where I sit most people don't run vehicles as long as nor as to as high of miles as I do. So I don't ask my coworkers nor neighbors as I already "know" their opinion to the matter. But most of them don't work on cars either, nor track the market quite like BITOG does. Like most people I get antsy as a car gets old and starts presenting problems. But like most people I have other places to spend money.

I daresay that the majority opinion would be that I've done quite well and have gotten my money's worth. But that is in "the real world" not on BITOG.

 

[IndyIan]

Blown shocks don't really make a car wander on the hwy IME, loose ball joints can do some weird steering stuff I've found though. And suspension bushings too, but I've only had bushings on the front control arms fail.
I guess I've always made a habit of putting a few drops of oil on every nut and bolt I can reach at each corner of the car when I do my summer winter tire changes, so usually everything in the suspension and hubs comes apart fairly easily....

 

[FZ1]

So you have 2 cars; a "99 Camry and a 2011? You don't need 2 cars. Switch to the "99 if it's more reliable. You could wait till Fall and take both to a Toyota dealer and trade them in on a new Camry. I think it's about time for a Camry update so maybe you could get some cash back on the outgoing '22 model. In the meantime, just fix what needs to be fixed, piecemeal, and no more, 'till you decide what you wanna do. .02

 

[Nick1994]

New car prices are blown up a bit, but if you spend $3k now on this one instead of $3k extra on a new car, is it really that big of a difference?

I think you're at a good point to sell this one before you sink stuff into it while it has some value.

Maybe if @Hermann decides against his Maverick he can sell you the reservation

I guess I should clarify my opinion on the matter.

I have no doubt you could put another 150k on this car. But it's unfortunate it wasn't your daily driver years back, I think you would have kept up on some more maintenance so this wouldn't be as hard of a pill to swallow. Sounds like the wife just lived with it. Which is fine, it just hurts more to sink money into an old car all at once.

Financially speaking, throw some struts and control arms (I think this is your wandering), brake cables and tires, and motor on.

But its nice to have peace of mind with a newer car, shiny and new features, quiet peaceful ride. I thought I could put my old Camry back into daily-driver status last month but I was wrong. I guess it's me who is too high-maintenance. I like the comfort and features of the Grand Cherokee Limited more than I like 8 extra mpg.

Also financially speaking, when you look back at ~65 when you're retired, do you think you'll look back and shake your fist "I wish I would have gotten 2 more years out of that car before buying a new one". Will it really matter? Only you can answer that.

 

[supton]

You don't need 2 cars.

How do you figure that? Couple years ago I went to put the '99 into gear and... it wouldn't move. The cable on the gearshift broke. The other weekend I went to put the '11 into gear and... it wouldn't move. The brakes had locked up. In both cases they had to sit for a few days while I drove the other to get parts.

 

[zzyzzx]

In this market, it's not time to move in.

 

[FZ1]

How do you figure that? Couple years ago I went to put the '99 into gear and... it wouldn't move. The cable on the gearshift broke. The other weekend I went to put the '11 into gear and... it wouldn't move. The brakes had locked up. In both cases they had to sit for a few days while I drove the other to get

In this market, it's not time to move in.

Agree, it's a bad time to buy, unless, you have to. Best time for me has been when the automaker brings out a new generation of the car. They, sometimes, have great cash back on the outgoing model. The difficulty, now, is the dealers don't have any excess inventory so you can't get as good a deal.

 

[Accent Abuser]

I still think it's only got 2 years of life left. After that I'm not interested--it'll be time for a brake line to go or something otherwise drastic, or just be that rusty. Once rust sets in, it goes fast.


Yep.

A 2011 has that much corrosion? Do you never wash it? People come into my shop all the time with early 2000s Toyota's and while they're not perfect they're not an inspection failing safety hazard. 4 cans of fluid film would stop any rust from continuing, and I don't even think Toyotas of that era have brake line corrosion problems, unless it's from the inside, do you regularly replace your brake fluid?

 

[Andrew1972]

$2500 is nothing for trade in. Do what you have to and keep going . It won’t be worth less in a year or two.