Just thought I'd throw this out there, since the prevailing logic these days seems to be to keep buying new vehicles every so often and trade in your old ones when they start to get "old" to avoid "costly" repairs. There was even a government program aimed at this, which we did not take advantage of because it just didn't make financial sense. I decided I'd add up all the costs I can remember associated with owning and maintaining our older vehicle over the years for curiosity's sake and here's what I got.
The vehicle in question is a 1999 Cavalier, as basic as they come, 3 speed auto and power nothing, bought in 2006 with roughly 100k on it for $2700. Almost exactly 10 years later, it's about to turn over 230k. Engine and transmission have never been touched except for fluid changes. I've added up the cost of all repairs I can remember being performed on it (since I started doing the work myself, the information comes from RockAuto receipts, shop visits are from memory since the last time the car saw a shop for anything was 3 years ago, and back then it was out of necessity; we lived in an apartment that didn't let us work on our vehicles). I obviously did not include standard maintenance - brakes, tires, fluids - as you'd have those expenses even on a new car. There were probably a few junkyard parts I missed, mostly broken interior pieces if I remember right.
$2700 - Purchase price
Shop work:
$400 - "Tune-up" and 02 sensors (failed smog, mother in law let the smog place do the repairs)
$1000 - A/C compressor
$300 - Starter
$600 - Heater core
Rest was done myself:
$30.07 - Coolant tank, thermostat
$5 - Instrument panel bulb
$14.16 - Valve cover gasket
$45.79 - Radiator fan
$168.41 - A/C compressor, orifice tube, receiver/dryer
$56.37 - Blower motor, serpentine belt
$79.66 - Plugs, wires, 02 sensors (failed smog again)
$64.79 - A/C line set
$16 - Heater pipe (junkyard part, had to have that day)
$49.99 - Starter
Total cost of ownership, including purchase price: $5,530.24
Cost per month of ownership: $46.08
A lot cheaper than any car payment, and that would have gone down significantly had I been able to work on it myself for the first several years.
The vehicle in question is a 1999 Cavalier, as basic as they come, 3 speed auto and power nothing, bought in 2006 with roughly 100k on it for $2700. Almost exactly 10 years later, it's about to turn over 230k. Engine and transmission have never been touched except for fluid changes. I've added up the cost of all repairs I can remember being performed on it (since I started doing the work myself, the information comes from RockAuto receipts, shop visits are from memory since the last time the car saw a shop for anything was 3 years ago, and back then it was out of necessity; we lived in an apartment that didn't let us work on our vehicles). I obviously did not include standard maintenance - brakes, tires, fluids - as you'd have those expenses even on a new car. There were probably a few junkyard parts I missed, mostly broken interior pieces if I remember right.
$2700 - Purchase price
Shop work:
$400 - "Tune-up" and 02 sensors (failed smog, mother in law let the smog place do the repairs)
$1000 - A/C compressor
$300 - Starter
$600 - Heater core
Rest was done myself:
$30.07 - Coolant tank, thermostat
$5 - Instrument panel bulb
$14.16 - Valve cover gasket
$45.79 - Radiator fan
$168.41 - A/C compressor, orifice tube, receiver/dryer
$56.37 - Blower motor, serpentine belt
$79.66 - Plugs, wires, 02 sensors (failed smog again)
$64.79 - A/C line set
$16 - Heater pipe (junkyard part, had to have that day)
$49.99 - Starter
Total cost of ownership, including purchase price: $5,530.24
Cost per month of ownership: $46.08
A lot cheaper than any car payment, and that would have gone down significantly had I been able to work on it myself for the first several years.
