run to failure or renew, best value??

Messages
52
Location
Tennessee
I have a 04 honda civic (with 70,000mi and no issues) that i bought new and i'd like to know what you thing is a better value. option 1: preform all required service and maybe a little more and run it till 250,000mi. sell it for $1,500 or scrap it. Option 2: Same as above but sell prior to 100,000 and reinvest in a new replacement Option 3: Same as above but reinvest in a used car with less than 30,000. So what do you think?? I'm just looking to save as much $ as possible. Thanks,
 
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5,573
Location
earth
whatever makes you happy. if it were mine running it to 250k would make me happy, and it would be very economical. If you buy 10 cars over your lifetime, or 3, the less cars you buy the better off you'll be (assuming you don't do work with them) i will wager that a corolla ran for 20 years would be cheaper than a corolla ran for 10 years and replaced with a new corolla in the second 10 years. but cheapest does not always mean best.
 
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4,353
Location
FL
I think as with any car, as long as it's not a money pit, that you would be better off financially to keep it for a long period of time as opposed to replacing it with a newer car. And with something like a Civic you will have many years/miles of driving from it provided that it is not neglected and it doesn't die of a premature death like mine did (I ran it into a guard rail). I think you will probably sell it from no longer liking it and a new car itch than from it dying. PS. keep up with a regular transmission service interval if you have an auto. You should try Castrol Import mv atf. I think it improved the shifting when I had my car. Man, now I'm starting to miss it.
 
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Messages
276
Location
California
If you're happy with it and don't want additional monthly payments on your budget, KEEP it. With all that miles, that's nothing for Civics. With about 20-30k more miles, you'll might spending $1k-1.5k on maintenance which are the following: Timing belt and other belts water pump tensioner all hoses pcv dist. cap/rotor spark plugs and wires brakes transmission and coolant flush fuel filter air filter oxygen sensor and etc... You can almost DIY everything. Good luck.
 
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Messages
3,666
Location
Chattanooga, TN
Cars are money pits no matter how you look at them. IMO it is always less expensive to keep a well operating vehicle then to replace it. Assuming engine and transmission are good and parts are readily available.
 
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2,759
Location
CarMax
The general rule of thumb is it's cheaper to fix the old car than buying a new one. With a Civic, a pretty simple car, I cannot forsee any repair that would be hugely expensive or extremely cost prohibitive. Even a replacement engine will be reasonably affordable as long as you not buying brand new from a dealership. The car's are straightforward to repair by most mechanics. Most parts, new and used, are readily available. If we were talking BMW 7-series or Mercedes S-class, my opinion may be different, but a basic Honda is not a terribly complex car which is good for keeping maintenance costs low. As for the financial end of your question, I'd think a simple cost/benefit analysis will provide some answers. Finding used car values is easy as is new car replacement cost numbers. You can figure out for yourself whether it is financially worthwhile to sell the current car or keep it.
 
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7,077
Location
Ontario, Canada
If it breaks down, its not like he'll be left stranded in the middle of a 100 mile wide desert somewhere. This is Hawaii after all. ...unless a new volcano suddenly springs up and you have to get away fast
 
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25,046
Location
ON, Canada eh?
 Originally Posted By: sneakboxer
I have a 04 honda civic (with 70,000mi and no issues) that i bought new and i'd like to know what you thing is a better value. option 1: preform all required service and maybe a little more and run it till 250,000mi. sell it for $1,500 or scrap it. Option 2: Same as above but sell prior to 100,000 and reinvest in a new replacement Option 3: Same as above but reinvest in a used car with less than 30,000. So what do you think?? I'm just looking to save as much $ as possible. Thanks,
Option 1 \:\!
 
Messages
6,987
Location
Michigan
If you are not hung up on having to drive a new car it is much wiser and cheaper to drive your car to death. And with the cars quality be much better today it is easier and cheaper to do it. If you do replace do not buy new. Buy a vehicle that has low to avg miles and is 2-3 yrs old. Then someone else took the major depreciation hit.
 
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pbm

Messages
8,748
Location
New York
 Originally Posted By: Spector
Cars are money pits no matter how you look at them. IMO it is always less expensive to keep a well operating vehicle then to replace it. Assuming engine and transmission are good and parts are readily available.
BINGO! I would run it to 250K and then replace it with a low mileage, 1 or 2 year old vehicle. I've purchased several brand new vehicles in my life but I'm beginning to realize that if I purchase a car that's a year old with 10 to 20K I save a ton of money and still get a warranty. Let the first owner take the big depreciation hit.
 
Messages
39,806
Location
Pottstown, PA
Just figure out what kind of owner you are. You can flow chart cars for various types of owners New - trade every 3-5 years or keep till it dies Buys this traded/sold vehicle and get another every 3-5 years or keeps it till it dies Buys this traded/sold vehicle every 3-5 years or keeps it till it dies Reduced to "worth more in scrap than rolling chassis". All of my vehicles fall into "keep it till it dies" regardless of what point in the aging process that I buy them. I try not to buy them unless they're a deal used. I also think the best deal for age/price is the 3rd tier purchase. That 3-5 year range starts off great but as it ages more, you're slammed down to the baseline costs of viable rolling stock. Anything that passes inspection is worth something and repairs can run more than a different functional car.
 
Messages
1,093
Location
Kentucky
I have 3 vehicles in daily use. One is a 1986 Toyota truck with near 301,000 miles. I had to replace right rear wheel bearing at around 100,000 because of my father in law not being able to calculate how many bags of fertilizer equals 1500 pounds. It had to have a new voltage regulator. Except for maintenance items, everything else, even clutch, is original. I have a 1999 Chevrolet Cavalier that rolled over 210,000 miles Sunday. Except for maintenance items, everything original. I have a 2008 chevrolet Silverado with only 6300 miles. I made payments and interest on the Toyota for 3 years and have used it payment/interest free for 20 years. I made payments and interest on the Cavalier for 3 years and have used it payment/interest free for 7 1/2 years. I won't start any debates, but I use what I consider/believe to be the best synthetic engine oils, oil filters, transmission fluid and filters, best gear/axle lube, and best grease. I change auto transmission fluid and filter, manual transmission gear lube, and rear axle gear lube on a regular schedule as I do engine oil and filters. I also keep decent, not great, records. On another thread, I calculated what it cost me to have the Toyota for 23 years and the Cavalier for 10 years. WAY, I MEAN WAY less expensive than trading every 5 or so years. Also, maintenance keeps them reliable.
 
Messages
36,003
Location
ME
I take it you are having a paradigm shift away from new cars. That is great, money wise. But remember, you will not be able to recoup any money from making your used civic above average in condition, or even above mediocre. A savvy used buyer would hold back money for the "what ifs". Conversely as you shop for a good used car there will be lots of lemons to sift through. So run it until it's feeble but still kicking. You are lucky in its make and model; still popular even with one foot in the grave, so you'll be able to sell it for your target of $1500 with the doors falling off and smoke coming out the back. \:\! Are Hawaii cars more beat up than 48-state ones? Do you ever get a flat stretch of highway or is it all twisties, brakes, and shifting?
 
Messages
7,771
Location
Oklahoma
Drive it to the ground. I lived in Guam for a while and trust me, every 2 years, take it to an AC mechanic and have all the refrigerant sucked out and replaced with new refrigerant. I never had a problem with the AC. Also, keep a vigilant eye out for rust, once that starts up, sell it. If you do keep it, it would be worth it to have it professional undercoated.
 
Messages
24,402
Location
Central Florida
Option 1 - That Civic will easily last 400K miles with just basic maintenance. When we bought a new 2007 Civic, the dealer wanted to give us $1000 for our old 1998 Civic EX with 180K miles, we decided to keep it and give it to my nephew as a high school graduation present. The car still looks if it only has 50K miles.
 
Messages
2,698
Location
Silicon Valley
I think it depends entirely on your attitude (in general and toward your Civic): If you love it, you'll keep it nice and well-maintained. If you think it's a basic transportation appliance, you might let things lapse and get the new car itch sooner. But there's really no need to look so far into the future. Baby steps!
 

sneakboxer

Thread starter
Messages
52
Location
Tennessee
Thanks for the confirming my drive till it dies plan. I'm a diesel mechanic and with a manual i can do most anything. All i need to do is keep the wife on task. Until i found this site i thought i was over-killing my maintenance but now i feel a little guilty. This little Honda has been with me in ME, MI, and now HI and i still love it. The trany is still in good condition. I dump and fill every 30k Thanks again
 
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