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If you are not concerned about your's and your passenger's safety but consider only financial aspects then you'd probably better off keeping your 97 Corolla, otherwise you'd definitely want to purchase a newer car.
2006-2007 cars are away much more safer as they have all the modern safety systems (airbags, side curtains, electronic systems, etc.) that were not available more then 10 years ago or are not as much effective as current safety systems.
Are you a car salesperson? ..
(Sounds like a sales pitch to me. I can see you sliding your business card already. )
So when would you pull the plug on the old (paid for) car and buy a new one? What makes sense?
I got a 97 Toyota Corolla DX (1.8 L) with 120K miles. I commute a long way to work everyday (50 miles total/day) and it's the perfect car for that; however, it's due for some expensive maintenance and repairs. It's due for a timing belt/water pump replacement and the 120K service which includes Auto transmission service, plugs, wires, Coolant flush etc (approximately $1000 bucks!)... And it's having some front end/rear end issues, I'm betting it needs struts etc... (I'm taking it to my mechanic shop on Tuesday for this issue..) It's pretty ugly and with a rougher body (some dents etc...) On the positive side, it doesn't burn or leak any oil, it has new tires, new radiator, new AC condenser, is very good on gas, very cheap to insure, cheap property taxes and tags.
So, the old lady (who hates the car! LOL) and most of my friends think I'm crazy to put another dime in this car and should buy a new car. Well, I'm cheap and I don't want to either spend a big chunk of change or have car payments. What would you do? What would make more sense? I'd like to hear some REALISTIC opinions please!
P.S. If I were to buy a new car, I'd buy a 1-2 year old Honda Civic, Honda Fit or a Toyota Corolla with less than 30K miles.
man they run forever....but it sounds sort of beat. i have a nearly 20 year old volvo (second car now) and while it has run fairly trouble free for the 100,000 miles i've had it (it now has 139,000m on it) its just not the car it was nearly ten years ago
so i bought a new "used" car (Elantra) and am so glad i did. its just great having a new car. and i put no money down and am paying under $240 a month+ insurance, full warranty
so, it suits the "cheap" in me as well
do it if you can afford it and don't look back. just get something you'll appreciate as much as your beater!
My 2 cents is keep your car as everyone else has said, and figure out what your car payments would be for the car you want. Take that money each month and put it into a CD or some other investment that's fairly low risk. This way when you are ready to buy you can either pay cash or put a large down payment down. Earning interest is far better than paying it. Do it right and every 6 - 8 years you can pay cash for a new car depending on your requirements/desires.
I'm a "keep em till they die guy". I drive a 1993 Silverado I bought new almost 17 yrs ago. Engine still runs as good as ever. Tranny still works as it should.
It does currently need an intake manifold gasket. And a rear bumper from 17 yrs of winter salted roads. I already got a good used bumper for $35.00. I'll change the manifold gasket and bumper.
Being a retired mechanic I do all the maintenance myself. Saves a lot of money.
The old girl aint as pretty as she used to be but still runs everytime I turn the key. No smoke, no coughing or chugging, just start it and go.
Of course she has had brake lines, tranny lines, water pumps, altenator, shocks, brakes pads, rotors, etc, over the years but never any major engine or drive train problems.
I could have replaced her years ago, 2 or 3 times, and made thousands of dollars a year in vehicle payments.
Instead it has only cost me a few hundred dollars to keep her going for many years. (after the initial payoff).
Besides, after 17 yrs she is like a member of the family. I'll keep her for as long as she stilll has plenty of giddyup and is still worth repairing.
That old truck is the best vehicle I've ever had in my life. As long as I can fix her, I'll keep her.
I also have an unrestored 1949 Plymouth Special Deluxe that could be a daily driver if I chose to make it one. But I only drive it in the summer.
No, I didn't buy it new. I was only 2 yrs old when it was built.
But it is just an example of how long vehicles can last if properly cared for.
That car is 60 yrs old and yesterday I went out to start it in 20 degree weather just to see if it would because it hadn't been started in 3 weeks and let it run for awhile.
It cranked longer than usual but did start wihout starting fluid or a battery charge.
Surprised the heck out of me.
It is in a garage but the garage is unheated. I love them old cars. It was my son and daughter-in-law's wedding car a couple yrs ago.
They got a kick out of that.
but when you are putting more money into something then its worth, after having gotten all your money's worth out of it already....you gotta think a little
its a somewhat outdated car now. leaps and bounds have taken place in autos just the last 10 years
i mean he has put a lot of money into this car already. and now "front / rear end issues." never good. or particularly safe. and its due for major service
"new radiator, new ac" already
this car is worth $2,410 according to the blue book value. and even if in "excellent" condition is worth just $3,200. food for thought
i love cars. and keeping them. its personal. but...you can still keep it like i did my volvo. or sell it and put it toward a down payment on a new(er) car
i haven't time to read the thread so don't know if affordability is a problem. but if not....and a new car is entirely possible, i say go for it
if serious sacrifices might have to be made, i suppose fix the old Corolla and she'll be good to you for another 100,000 miles with further repair and maintenance. but otherwise new is good imo
imagine a new car with all the good stuff on it. that would be cool
What do you do with an older car but one that has lower miles? I've got a '99 Chevy and recently replaced the 5 year old battery, changed the transmission fluid as well as the coolant( winterized). This spring I was planning on having the belts and hoses replaced( checked at least) and will do the timing belt/ water pump as well. The car has 70,000 miles and I do the standard oil change/basic service but stopped having the dealership do it because they kept finding things needing to be replaced. You know small parts you never heard of $$$. It's had no repairs since then for about 3 or 4 years, its last was a module that regulated the cylinders firing which made it run rough and the alternator about a year before that.
Right now it starts perfectly even in very cold weather and my only trouble is a small loss of coolant when I drive extended periods. I just top it off every two weeks, maybe a half quart. There are no puddles. So what should I do? New spark plugs? New air filter, how long will they last? I justy got it inspected and it came through okay and the brakes should last another year, and the tires are still good.
I'll keep it for as long as I can since its still in good shape body wise and very reliable and I don't mind spending necessary maintenance costs. But I'd like to think that I'd get a few years break doing them now and then not worry about anything for a while.
What do you do with an older car but one that has lower miles? I've got a '99 Chevy and recently replaced the 5 year old battery, changed the transmission fluid as well as the coolant( winterized). This spring I was planning on having the belts and hoses replaced( checked at least) and will do the timing belt/ water pump as well. The car has 70,000 miles and I do the standard oil change/basic service but stopped having the dealership do it because they kept finding things needing to be replaced. You know small parts you never heard of $$$. It's had no repairs since then for about 3 or 4 years, its last was a module that regulated the cylinders firing which made it run rough and the alternator about a year before that.
Right now it starts perfectly even in very cold weather and my only trouble is a small loss of coolant when I drive extended periods. I just top it off every two weeks, maybe a half quart. There are no puddles. So what should I do? New spark plugs? New air filter, how long will they last? I justy got it inspected and it came through okay and the brakes should last another year, and the tires are still good.
I'll keep it for as long as I can since its still in good shape body wise and very reliable and I don't mind spending necessary maintenance costs. But I'd like to think that I'd get a few years break doing them now and then not worry about anything for a while.
i feel with older low(er) millage cars in good condition they can be kept for as long as they hold up and you are happy with them. your car seems to be in need of regular maintenance and thats all. a little something here and there. and that is fine imo as long as you are happy with it
but thread starters Corolla sounds like its a bit more then its worth. 50,000 more miles then yours and in need of some extensive work
so far as your car, i did the same to my volvo (740) and it stayed running and still is. since i've had that car i haven't done anything but a fuel pump and radiator. and that was earlier on in ownership. i took ownership of the car when it was 11 years old. it ran and drove like nearly new with 39,000 miles. now...less so
but mechanically it is sound and always has been. i have serviced the car regularly, but now will "nickel and dime it." oil change soon, transmission service after that. and i just did the brakes. car is mechanically sound other then that. might have worn front struts...but not critical. and nothing i'd be willing to spend several hundred dollars doing. not for a 20 year old car
so i have gone through the "older low millage car" routine. i always serviced it like a "newer low mileage car" and it has performed like one. i would suggest you do the same so long as its not giving you BIG problems
also, good thing about not taking it to the dealer anymore. my new car won't see the dealer once out of warranty
but thread starters Corolla sounds like its a bit more then its worth. 50,000 more miles then yours and in need of some extensive work
i didn't read anything in the OP's post that sounds like 'extensive work'. all the items he listed (including the front and rear end work which likely just means he's up for new shocks/struts) is routine maintenance.
i can understand your logic to get rid of a car that's 'nickel-and-dime'-ing you to death with breakdowns, but maintenance is maintenance. that's like buying new underwear rather than doing the laundry.
Breaking news: My mechanic looked over my Corrrrrola throughly and says there is nothing wrong mechanically regarding the front/rear end issues. He checked all the suspension components, steering, front end, rear end etc... Everything looks fine. He thinks the tires I bought back in September are faulty, that's why the car feels unstable in snow, so I'll be off to Discount Tire this afternoon to see what they say about these tires. While there, he did a major tuneup (120K service), but I will wait till spring to do the timing belt/water pump. Thanks for all the different perspectives! I've enjoyed reading all the responses. Cheers!
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I just specified the aspect that was not addressed during the discussion.
