New car or repair the old

[JollyGG]

Thinking about applying to Christian Community Credit Union for a car loan.
I just found out that my car needs $800 worth of work on it.
I'm trying to decide if it worth it to keep the car and get if fixed or if I should just get something newer.
We currently have two vehicles. One is a 1993 Ford Explorer with 170,000 miles on it. It is in okay shape for it's age. It's nothing great, nothing bad, it works for us. We also have a 2000 Buick Century. That is the one that needs the $800 worth of work. It also has around 175,000 miles on it.

We paid off the Buick last May. We are kinda enjoying no car payment. Unfortunatelly we haven't put much in saving dispite no car payment.

We didn't do very good on our budget this summer (I guess thought we had more money without the car payments and with hubby's new job than really was there) and don't have much in savings and have a bit more than we would like on our credit card. However, we were back on track and should have had the cc paid off this Febuary, with our tax return (without this stupid new car repair to add to the balance).

But, since we didn't do so hot this summer with the budget we wanted to go a few more months on good behavior before we trusted ourselves to get a car payment again.

Plus I really wanted several thousand down payment so that we could afford 36 month tearms instead of 60 month.

Sigh.

Do I stick a costly car repair on my credit card (yes right now our budget can handle the cc payments)? Or, do I take on another car payment (our budget was written while we had the old payments. We did okay, but it was tighter)?

One of the the things on the list of needed repairs in new brakes and with my two precious children riding around with me I don't think that just waiting till I have the money saved for the repairs is an option. As for getting it done somewhere else cheaper. Parts alone are $500 of the bill, and some of those are from the salvage yard.

This sucks.

[lostinmich]

Hmmm.... that's a tough call. 175,000 is a lot of miles. You don't necessarily need a new car. You can find a good used car for a good price with a warranty. Personally, I would sell the Century for what ever you can get for it and use it as a down payment on a newer used car.

[JollyGG]

Well, it would be a new to me car if we got something different.

I want a 2005 Dodge Grand Caravan.

But up until now I have been working on the realization that I don't need a different car. I want a different car.

[SinkingFast]

We cost compare before shopping for a newer vehicle.

We look at the over all mechanical condition of the older vehicle, how much the repair costs, the costs of repairs we know or might have to do in the future, plus taxes and insurance, and compare all that to the costs of a new car. Monthly car payments and increased taxes and insurance costs.

If the older car is costing less in repairs, then we stick with the older car.

The older car has some perks. You know its history. How you've driven it. If it's been wrecked. How you've taken care of it. A newer, used car is an unknown.

Program cars are leases and rentals, generally speaking. Rentals have been mechanically maintained. The rental agencies are good for that. But many Renters drive abusively. "It's not my car. What do I care??!!" Leases could or could not have been cared for. You just don't know.

Another thing to consider is the intangible. The hassle factor. Dealing with putting the car in the shop is a hassle. Having to juggle the family on one vehicle. Getting the car to the shop and back. Very many repairs and the "Hassle Factor" starts to wear on you. We just dealt with that this week. One in the shop all week.

You just gotta weigh all the factors and make your best decision.

[CindyLou]

I lot of people may argue with me but because I live in a big city and have a pretty timely commute I tend to lean always to new cars. I can't afford..both safety or money wise to have breakdowns on the freeway. My suggestion would be to go with a very affordable entry level newer car. but you know the needs of your family much better. If you are able to handle repairs then a newer used car may be better. I know christian community treats both new and used loans the same as long as the mileage is low and the years is pretty new. Keep us posted and good luck.

[325Falcon]

$500 for brake parts seem high. Pads should be $30 - $50 for both front and rear if it needs rotors probley around $30 - $50 each at Autozone. Used brake parts are not a good idea.

Dealers always mark their parts up a bunch. What are the brake repairs that they claim need to be done?

I would not put $800 into a car this old with this many miles.

[JollyGG]

So, I really think that the right choice is to get rid of the Century. I think considering it’s mileage and a few other minor problems it has we would be much better off with a newer late model used vehicle. Even without a down payment saved up.

But, I don’t think I can do it, not knowing what my job situation will be after the first of the year.

I work for a nonprofit (A) owned by two larger companies (B and C).
I am currently considered an employee of one of the larger companies (C). However, we could be severing our relationship with C. So I would normally then become an employee of A. But it looks like after the first of the year A may just become a division under B instead of a separate entity.

So basically, I don’t know who I’ll be working for after the first of the year. I don’t know what my benefits will be or how much they will cost. I don’t know how often I’ll get paid – weekly, monthly, biweekly. All I know is that I will most likely have a job and the salary will be very similar to my current salary.

I think we will get the car repaired. But, I still go back and forth several times a day.

[JollyGG]

$500 for brake parts seem high. Pads should be $30 - $50 for both front and rear if it needs rotors probley around $30 - $50 each at Autozone. Used brake parts are not a good idea.

Dealers always mark their parts up a bunch. What are the brake repairs that they claim need to be done?

I would not put $800 into a car this old with this many miles.

The brakes are only ONE part of the repairs. And the brakes would not be from the salvage yard.

I need - Front brakes, left inner tire rod, left front wheel bearing, two lower control arms (used), and an alignment once everything else is done.

[genseeker]

OP, I recently had to make the repair or replace decision myself. I have a '91 Explorer that developed transmission problems. I had recently bought it for $650 and it seemed fine for a while, then it started slipping and not going into gear. Took it to Aamco and they ended up having to tear it apart to discover the problem. Basically a gear came apart and took out the torque converter as well. I was given an estimate of $1700 to repair it. My brother knows a guy with a junkyard and he offered to give me $800 sight unseen because we had paperwork for the motor rebuild. After thinking about it for a while, I decided to repair the Explorer. As I pointed out to my hubby, even if I put $2500 ($1700 repairs + $800 for mine) into a replacement vehicle, what could I get...no guarantees I wouldn't buy something that needed a lot of repairs as well. Plus, after browsing the net, I discovered that once the tranny is rebuilt in the Explorer, you pretty much never have any more problems as long as you maintain it properly. Now I don't have to worry about it when I am taking long trips, I know it will not break down.

Any chance you know someone who could do some of the repairs for you? Hubby was an auto mechanic and he frequently does the work on our vehicles but I am proud to say that I also do much of the work on my own vehicles.

[CATCHMEIFYOUCAN]

My Honda got flooded at 140,000 miles on it. The insurance company wouldn't total it, and gave me $1700 for a new motor etc. BS ! I sold my Honda to my next door neighbor for $500 and took the insurance money and got into a new Huyndai Sonata. I hadn't had a car payment for the longest time. But weighing out "the checks and balances," I foresaw problems ahead had I stuck with a refurbished motor. I look back and smile and don't regret having a "new car," in fact I traded it in already and upgraded to a V6. Also, the payments on a car helped reduce my disposable income when I was in Ch13.

Best to you, Catchmeifyoucan

[JollyGG]

I was suprised to see this thread revived. But in the end we repaited the car and actually the repairs ended up being a little cheaper than they originally quoted me. I paid 600 for the repairs and two new tires.

As of the first of the year my health insurance will go up about $300 per month. Ouch. Due to the proposed change in the organizational structure of my company that I explained above. Since we can't afford the higher insurance and a car payment I guess I'll have to make sure that these vehicles limp along as long as possible.

My job application may also have to start ciculating as well. Because while I absolutely love my job, I feel I'm getting majorly screwed on the newest development.