Older car: to fix or not to fix?

[Jerry1]

Thanks for the replies so far. I'm really torn on this. If I could get the repair done for $700 or so, I'd almost certainly do it, because that would allow me to net close to $1,000 on a trade in deal.

So you're stressing out over $400? Unless you are truly financially strapped, put me in the camp of having the repair done and get on with the next car. You have a mechanic that you say you trust so accept that the repair will be $1,100 and your net will be $600. As was said earlier, put this into the equation of how much the car cost you over 17 years and it will really put this in perspective. It's a minor bump in the road that came at a bad time (just before you pulled the trigger on a new car) but you won't remember it once you're in the new car. Spend your time saving all you can on that end of the deal.

 

[gauss]

No mention of the OPs car make and model which is hugely relevant in terms of 1) what to do with it and 2) how it might sell against KBBs value. Many cars sell below and some above. Desirable cars like Toyotas and Hondas will sell well, and may even sell decently "broken" if the repair is truly somewhat trivial from a labor presepctive. ...

If the details were posted, I would try consulting the manufacturers service manuals to sort out the VIN programming issues.

I have been in old car repair mode the last couple of weeks.

-gauss

 

[Murf2]

Yeah, is it some kind of secret what kind of car we're talking about. Seems like we're talking about a car worth around 2K trade? If that's the case,

Do you have other transportation? If not, you about have to fix it anyway. If not, I'd try and sell it "as is" on C-list.

I don't know, you seem to really want to trade it in. I know it's convenient but you do pay for that convenience.

Murf

 

[Sojourner]

Really appreciate all the replies. I haven't divulged the specific make and model since it's quite rare to see on the road (I see maybe 1-2 per week while I'm out and about driving) and I generally try to preserve as much anonymity as I can online.

I do have other transportation, so time is not an issue, and I can certainly go through the process of shopping for my new car without involving the broken one. It's starting to seem like the best approach for me will be to try to sell it as-is to a private party, and failing that either try a DIY repair or just donate it. As Jerry1 pointed out, the difference between an excellent trade-in deal ($1,600) and a bad one ($600-800) is less than a thousand bucks, so it's not the end of the world by any means. And since I've had the car nearly 17 years and it's served me well with pretty minimal maintenance, I can live with a sub-optimal outcome if I have to.

 

[Murf2]

Really appreciate all the replies. I haven't divulged the specific make and model since it's quite rare to see on the road (I see maybe 1-2 per week while I'm out and about driving) and I generally try to preserve as much anonymity as I can online.

I do have other transportation, so time is not an issue, and I can certainly go through the process of shopping for my new car without involving the broken one. It's starting to seem like the best approach for me will be to try to sell it as-is to a private party, and failing that either try a DIY repair or just donate it. As Jerry1 pointed out, the difference between an excellent trade-in deal ($1,600) and a bad one ($600-800) is less than a thousand bucks, so it's not the end of the world by any means. And since I've had the car nearly 17 years and it's served me well with pretty minimal maintenance, I can live with a sub-optimal outcome if I have to.

Yes, plus the $1600 "trade in isn't really $1600. The $700 cash someone gives you is real.

Good luck!
Murf

 

[Sunset]

How about that? Advertise on Craiglist "Car runs well, AC cold, etc... but needs shifter or won't go past 2nd gear. $1000 OBO". See if you get any taker.

+1

I would try this first, as you would probably net the same if you go through the risk/hassle of fixing it and then selling it for $1,000 more.

And as someone has noted. trade in values are pretty fake.
Any dealer will give you $500 for it now on trade in as they would go down that much with hours of resistance negotiating.

 

[haha]

One of the best reasons to purchase a newer car is to get the improved safety features like skid control, more airbags, collision detection system, etc. LBYM is great for some things, but one's life and health have a value that goes beyond mere money.

Plus one million. It is ludicrous to stretch the life of something with life and death importance as a car has.

Ha

 

[Music Lover]

One of the best reasons to purchase a newer car is to get the improved safety features like skid control, more airbags, collision detection system, etc. LBYM is great for some things, but one's life and health have a value that goes beyond mere money.

An advanced driving course that teaches driver control and awareness will provide more benefit and will also cost less money than a new car....and the benefits will carry forward to every single vehicle you drive.

 

[meierlde]

One of the best reasons to purchase a newer car is to get the improved safety features like skid control, more airbags, collision detection system, etc. LBYM is great for some things, but one's life and health have a value that goes beyond mere money.

One feature in particular my new car has is side blindspot detection, that turns a light on in the rear view mirror when a vehicle is in the blind spot in an adjacent lane. After having several near misses when changing lanes I decided it was needed. Note however that there are kits that can be used to install this in older vehicles.
The other nice feature in all 2016 and later is they all come with backup cameras also. (Will be mandatory on cars in 2018).
I do figure as I get older the features will help to keep driving safely.

 

[brucethebroker]

When my car need transmission repair (first car in 30 vehicles with bad tranny), my friend, the used car salesman told me to fix it, drive it 11 months into the 12 mo. warranty, then sell it (getting the most money back from $2,900 repair job-a Lexus).

My wise old uncle once told me the best time to get a new car is before you need it, to keep the pressure off and look for the best deal.

By fixing and driving for another 6 months or so, you might just get most of your money back and be free to shop for a new car without pressure.

Of course, something else could break in the meantime.....

 

[CRLLS]

I'm late, but here are my thoughts. By now (17 yrs) you have gotten the full value out of the car, so any money you get from changing horses now is gravy, repaired or not. The broken car is probably worth ~300 bucks to the scrapper and 500-5,000 in phony "trade-in" value, depending on the car salesman's presentation. It is difficult to use any of these numbers as "real" except for the scrap value. If repairing, you will then end up with one part fixed on a 17 yr old car. Who knows what, if anything, is next to go? I might do well or not. I might as well go the Vegas, as the results is anybody's guess.

I don't look at the cost of the repair vs the trade-in value of the car (fixed or broken), I compare the cost of the repair against what it cost to replace the vehicle "in kind". If I were faced with this decision, the question I would ask myself is, "Do I really want to invest in another 17 yr old used car to replace my 17 yr old used car?"

Considering replacing it with a "new" or "late model used" is a different decision and is a separate financial transaction. At least, for me.

(disclosure) I recently purchased a low mileage 16 yr old vehicle and promptly sunk >2K more in to repairs fixing the myriad of things needing repair (done my me, dealer's cost would have been real prohibitive). I still think it was a good decision as it met other requirements for me. So I'm not against old vehicles. Just not for my primary vehicles.

 

[Katsmeow]

Newer cars are far safer than a car of that age. Unless constrained by dire economics I would opt to get a newer car that is more safe (it could be new or a used car, but just something within the last few years).

 

[W2R]

It's starting to seem like the best approach for me will be to try to sell it as-is to a private party, and failing that either try a DIY repair or just donate it.

(emphasis mine)

Oh, good idea. To me, time and aggravation is worth a lot. Given the hassle of trying to sell to a private party, and the hassle of DIY repair, I think that your idea to donate it is brilliant!! Not only would you be doing some good for a charitable organization, but also you might even find the tax deduction useful.

 

[jazz4cash]

I am curious to know what make/model of 17 yr old car requires a replacement shifter to be calibrated with the ECM. That info could be useful to me since I am attracted to older oddball cars.

 

[Murf2]

It's a secret. I already asked.

 

[Bestwifeever]

It's a secret. I already asked.

Here's a clue: http://www.early-retirement.org/for...nomics-of-california-77685-4.html#post1605618

Perhaps it starts with "P"?

 

[Sojourner]

Here's a clue: http://www.early-retirement.org/for...nomics-of-california-77685-4.html#post1605618

Perhaps it starts with "P"?

Hahahaha.... good attempt at sleuthing, but it doesn't start with a P. As I mentioned before, this particular model is so rarely seen on the road that I'd rather not post the details for the sake of preserving my anonymity. I do really appreciate all the responses and suggestions.

 

[ExFlyBoy5]

Since you are in Georgia, there should be a little consideration to the 'new' title tax. If you trade it, the value will be deducted frome the net price you pay the tax on. If you private party sell it, then you will pay the tax on the full purchase price of the new car. Granted, the difference may be negligible, but I would at least look at the calculator the state provides.

Also, since I know you, if you send me a text (or PM) I can put you in touch with a good friend of mine who's quite talented with cars and he *might* be able to help..if you are interested.

 

[jazz4cash]

It's a secret. I already asked.

Yeah if privacy is that important maybe OP should forget about private sales (esp on Craigslist) and lean towards donation.

 

[meierlde]

Since you are in Georgia, there should be a little consideration to the 'new' title tax. If you trade it, the value will be deducted frome the net price you pay the tax on. If you private party sell it, then you will pay the tax on the full purchase price of the new car. Granted, the difference may be negligible, but I would at least look at the calculator the state provides.

Also, since I know you, if you send me a text (or PM) I can put you in touch with a good friend of mine who's quite talented with cars and he *might* be able to help..if you are interested.

Actually in states that charge sales tax on cars typically the tax is charged on the net price i.e. the price less the trade in. So this applies to states where sales tax is handled this way on newly purchased cars. (42 of 50 states)

 

[ExFlyBoy5]

Actually in states that charge sales tax on cars typically the tax is charged on the net price i.e. the price less the trade in. So this applies to states where sales tax is handled this way on newly purchased cars. (42 of 50 states)

I *think* you are saying exactly what I was saying, just in other words.

Georgia changed how they taxed car sales a few years ago (used to be an annual ad valorem tax) but now it's just a straight tax. So, as the math works, you often will lose any "extra" money you would gain from a private sale to the tax man (currently 7%).

 

[sakowitzm]

Sojourner, you've gotten lots of excellent responses; all of which could work, depending on how you like to spend your time and your personal value of money. For me, my time is precious; my wife has cancer and every hour of every day is meaningful. So I'll tell you what I would do, and perhaps this will be the oomph you are looking for. Donate the car and move on. Buy that shiny new one and enjoy the smell, the looks, and the new technologies and features. And enjoy every moment of the experience.

 

[slk320]

I am curious to know what make/model of 17 yr old car requires a replacement shifter to be calibrated with the ECM. That info could be useful to me since I am attracted to older oddball cars.

I know that Mercedes S-Class of year model 2000+ has a "linkage" between the shifter and ECM through the VIN number. It takes a dealership computer (STAR) (or grey market clone) to install a new shifter unit and link it to the ECM.

I imagine that the SL and CL models are also the same.

Chuck