Entertaining Thoughts of a Good Used Vechicle

Gotta Know When to Hold It, When to Fold It...

A good article from Edmunds about when to repair vs when to buy...


Something goes wrong with your car and you're faced with another high repair bill. This isn't the first time it's happened, and you're getting tired of pouring money into an aging machine. It would be nice to get a new car, but is that the smartest decision?
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Fix Up or Trade Up? When To Repair Your Car or Buy a New One -- Edmunds.com
 
easysurfer said:
A good article from Edmunds about when to repair vs when to buy...

Fix Up or Trade Up? When To Repair Your Car or Buy a New One -- Edmunds.com
Click to expand...

From that article:

When Is It Time To Buy Another Car?

If the cost of repairs is greater than either the value of the vehicle (check its True Market Value (TMV®) here) or one year's worth of monthly payments, it's time to buy another vehicle.
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This gets mentioned time and time again, correct me if you think I"m wrong, but I'd say this is NOT a valid economic consideration. I only see two choices w/o investing even more money. Repair the car is one. Or don't repair it, and trade it in on a used car that costs ~ same as the repair.

How much is the car worth w/o the repair? It seems obvious to me, that if a $3,000 nominally valued car needs a $4,000 repair, no one will pay you above scrap price for it.

So the car will be worth $3,000 after the repair. Or maybe more, if this included something like a new timing belt and water pump - knowing it was done puts you ahead of other cars that are due that maintenance. So the true cost of the repair was really ~ $1,000.

What is the realistic alternative? Sell the car for scrap, and buy a $4,000 used car with unknown history? That could be more risky than applying $4,000 to the car you know.

I just don't see where the 'repair > car value' has any relevance. A comparison to your alternatives is the only thing that is relevant.

Am I wrong?

-ERD50
 
ERD50 said:
From that article:



This gets mentioned time and time again, correct me if you think I"m wrong, but I'd say this is NOT a valid economic consideration. I only see two choices w/o investing even more money. Repair the car is one. Or don't repair it, and trade it in on a used car that costs ~ same as the repair.

How much is the car worth w/o the repair? It seems obvious to me, that if a $3,000 nominally valued car needs a $4,000 repair, no one will pay you above scrap price for it.

So the car will be worth $3,000 after the repair. Or maybe more, if this included something like a new timing belt and water pump - knowing it was done puts you ahead of other cars that are due that maintenance. So the true cost of the repair was really ~ $1,000.

What is the realistic alternative? Sell the car for scrap, and buy a $4,000 used car with unknown history? That could be more risky than applying $4,000 to the car you know.

I just don't see where the 'repair > car value' has any relevance. A comparison to your alternatives is the only thing that is relevant.

Am I wrong?

-ERD50
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I don't think this is a matter of right/wrong. As you say -it is a personal decision that can vary considerably.
I drive old vehicles. New tires, shocks and a fill-up will exceed the resale value of my car. ;) Other things that I consider are-

Tax and license fees of a new/newer car will pay for a lot of repairs

Savings in DMV/insurance when keeping the old car

In my community dinging the other guys car when opening your door is expected behavior.

I am not quite ready to decide the type of vehicle - small wagon, small SUV, etc..

I do not enjoy the car shopping experience
 
I did have a chance to test drive a Honda Fit this past weekend (not at a dealer, but at a relative's house). I love the magic seats and didn't have any blind spots that some reviews have mentioned. Plus, the rear view is fabulous compared to the Prius C or my current car.

Though, I did find the noise, and not that much pep during acceleration accurate on some reviews.

In the car search, I still feel like Goldilocks :blush: However, after the test drive, I my impression of the Fit is higher than I had just by reading.
 
I have two friends with Fits and they both love them.
 
I do like the name-

It fits the budget
Pawn Stars won't fit
It fits into the small parking space
The fifth occupant will throw a fit
Not fast, but fit
After a few drinks, you won't give a phit
 
easysurfer said:
I did have a chance to test drive a Honda Fit this past weekend (not at a dealer, but at a relative's house). I love the magic seats and didn't have any blind spots that some reviews have mentioned. Plus, the rear view is fabulous compared to the Prius C or my current car.

Though, I did find the noise, and not that much pep during acceleration accurate on some reviews.

In the car search, I still feel like Goldilocks :blush: However, after the test drive, I my impression of the Fit is higher than I had just by reading.
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One of the things I read about the Fit is that they did not get the gas mileage as promised.... might not be true now as this was when they first came out...
 
Texas Proud said:
One of the things I read about the Fit is that they did not get the gas mileage as promised.... might not be true now as this was when they first came out...
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Yes, I heard of that too. When I was test driving, I asked my sister (testing her car) and she said she gets about 29 mpg (combined). On the Fit (like many newer cars) one can check the mpg since last fill up.

I've heard both that some get less and some get more on a Fit. On a FIT, 40 mpg is a goal as I really think the variance is how one drives. For example, the ones getting low MPG, did they inflate the tires, and not speed?

Of course, 29 mpg today is not on the high end. On that Prius C, I've read where folks drive it without regards to conserving fuel and still get over 40 mpg. I do love the magic seats and visibiity of the Fit though.
 
One of my best friends has a Prius that has almost 200k on it. It has needed nothing but gas, oil changes and normal maintenance. The original battery is still there. It averages almost 50mpg. She loves loves loves her Prius!
 
JustMeUC said:
One of my best friends has a Prius that has almost 200k on it. It has needed nothing but gas, oil changes and normal maintenance. The original battery is still there. It averages almost 50mpg. She loves loves loves her Prius!
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For the oil changes and normal maintenance, does your friend go to the dealer or an independent, non-hybrid shop? For me, that's an important part to the final decision.
 
We take ours to whichever generic mechanics we learn to trust. We have about 120000 miles with no battery issues. Our friends has 180000 and still going strong.
Good vehicles in my opinion. I still like my 1988 ford f150 but it is not as fun to drive now with the high gas prices. :(
 
walkinwood said:
Will the actual $s spent on fuel between the prius and the Fit be significant? If not, you should remove that as a consideration.

Scott Burns had an article a while back on his prius's 10th year anniv
AssetBuilder - Prius at Ten - AssetBuilder Inc., Registered Investment Advisor
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I try to rationalize that the Prius C and Fit are different cars in that the Prius C's main objective is mileage economy where as the Fit is functionality with's it's ample cargo area, plus the convenient magic seats.

My problem is I want the best of both worlds, but really need to decide what is more important to me. I go back and forth. One day I think the Fit is the way to go, then I drive on the freeway in a traffic jam or get stopped at a railroad crossing and think that it would sure be nice to have the gas engine shut off to conserve fuel.

I know, I'm reasoning around in circles here :blush:
 
easysurfer said:
For the oil changes and normal maintenance, does your friend go to the dealer or an independent, non-hybrid shop? For me, that's an important part to the final decision.
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Thanks... that's good to know that not all independent shops freak out when a hybrid car shows up :)
 
easysurfer said:
On a FIT, 40 mpg is a goal as I really think the variance is how one drives.
<snip>
Of course, 29 mpg today is not on the high end. On that Prius C, I've read where folks drive it without regards to conserving fuel and still get over 40 mpg.
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I have a hybrid, a bigger, heavier one than a Prius. I routinely get over 40 mpg without doing anything but driving as I usually do. Prius owners consider me a gas hog since they often get about 50 mpg. :(
 
easysurfer said:
For the oil changes and normal maintenance, does your friend go to the dealer or an independent, non-hybrid shop? For me, that's an important part to the final decision.
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Dealership for most stuff, I think oil changes to Jiffy Lube or something like that.
 
Old Yeller

My Old Yeller...
 

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I pulled the trigger today and traded in Old Yeller.

I got myself a used 2012 Honda Fit, with almost 10K miles from Carmax.
 
easysurfer said:
I pulled the trigger today and traded in Old Yeller.

I got myself a used 2012 Honda Fit, with almost 10K miles from Carmax.
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Sounds like a good choice. I hope you have many happy miles with your new (to you) Fit.
 
powerplay said:
Sounds like a good choice. I hope you have many happy miles with your new (to you) Fit.
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Thanks. Yes, it's pretty much new. 10K a lot less than 141K like in my car I traded in
 
easysurfer said:
I pulled the trigger today and traded in Old Yeller.

I got myself a used 2012 Honda Fit, with almost 10K miles from Carmax.
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As the owner of a Fit, I'm sure you will LOVE it!
 
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