Used car purchasing: repairs vs mileage

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I'll give two examples of vehicles that don't make any sense to buy but served my family well.

2008 I bought a 2000 Dodge Durango 2WD with 172K miles and a blown 318 motor for $1700 from a seller in Oklahoma on eBay. Had a 120K mile used engine installed for about $900. Drove the truck four years and to well over 230K miles before selling it with a bad steering rack for $1300. We also replaced the electric fan and the clutch fan under the hood after two years and if I hadn't caught them in time they would've cooked the engine. Solid truck. 17-19mpg mixed. Can't find them anymore except rusted out up here in Ohio though. Worst thing about that truck is it was a repo and there was a stupid starter interlock on it that you had to leave plugged in for a GPS signal. If you unplugged it the truck wouldn't start and you'd have to call them and get a code to enter to start it. Even after the company went out of business they still answered the phone (maybe they got bought by another company I don't know). But they refused to remove the interlock even after I offered them $400 to do so. Why did I want this interlock removed? Because it beeped CONSTANTLY. Every 5-6 seconds a little chirp. Every 5-6 seconds on or off, day or night. I'm so glad the steering rack failed because I still hear that horrible chirp even today, ringing in my ears. But the truck was a great deal.

2011 right before and probably the ultimate reason for selling the Durango, my wife and I bought a 2000 Chevy Suburban with 171K miles on eBay for $3000. We knew it had a bad transmission but other examples at the time were in the $6000-$8000 range and might ALSO need a transmission. We drove it 3,000 miles, the transmission finally puked all the fluid out, and we had a GM dealer install a new unit for about $2800. We kept that truck to well over 260,000 miles and four years and got 15-17mpg the whole time. Loved it, but the transmission finally failed just outside the 3 year 100K warranty, at almost 4 years and 80K miles. They wanted another $2800 to do another transmission so we passed. Drove it for another 10,000 miles and six more months in the "2" position. 35-40mph, city speeds, 10mpg. Sold for $750. So this one we took more of a loss but still, it was a great truck. I did insist on full servicing all the time while we had it. Had the brake fluid flushed. Power steering flush. New U-joints. Rear axle oil drain and fill. Transmission cooler and lines done with the transmission. Fuel pump changed when it started whining before it failed. A/C serviced every year. Michelin tires. The truck was definitely awesome and if it was newer I'd have kept it longer but if I can't Uber with it, forget about it.

I'd absolutely do that again. Buy a 8-10 year old truck needing a motor or a transmission but is nice otherwise. Get the major repair done. Drive it for a few years and then decide to keep or sell when the next major component fails.
 
Originally Posted by Kurtatron
When I bought my used vehicle, I got it near 200k miles and with faded paint. The price was $2700. Years later I saw the same vehicle with 70k miles and with clean paint. But the price was $8000. Fast forward, I sank $3500 into the 200k vehicle I purchased due prior owner negligence. That 3.5k bought a low miles engine that has been running fine for nearly 2 years now. Other tidbits were replaced also, like engine mounts, water pump, etc.

What do you guys think is a better option? From 2 perspectives, financial and preference. Is it better to take a cheaper worn out car and use the extra money to budget repairs or spend the extra on a lower mile example? Financially, what's better? Finances aside, which would you take?


Back when I was 2 miles from work...junker with known issues. Now that I commute about 70 round trip... Something a little "more reliable". In general, vehicles are a huge money pit. They do not appreciate (outside of some rare collector car). I'm always astonished at the $50k+ pickups and SUVs and sports cars with overpriced tires and aftermarket rims, exhaust, tinting, etc. What a shallow use of money to impress your friends. Short term goal oriented feelings. You might go 0-60 faster than my Corolla, but I'll be retired on a beach 20 years before you.
 
Originally Posted by occupant
Buy a 8-10 year old truck needing a motor or a transmission but is nice otherwise. Get the major repair done. Drive it for a few years and then decide to keep or sell when the next major component fails.

I've thought about that but people here ragged on me for it.
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I've contemplated flipping my expensive truck for something cheaper, but haven't been able to fully convince myself into it just yet. The appeal of having a couple of old cars to get around in is rather appealing, cheapest insurance and no worries about door dings.
 
200k cars are worn out mattresses. You can sleep on them but not the best nights sleep. Suspension repairs get pricey on older cars.

Lower mileage.
 
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self mechanic + used car saves a lot of money. i look for single owners with clean carfax and service records, i self inspect for problems and body damage. my only experience has been with hondas and toyotas. i prefer toyotas now. maybe lexus one day. i tend to go with reliable used cars. i had a civic, celica, matrix, rav4, now venza. you can tell which car i got when babies came. next car will probably be a used highlander or sienna.
 
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