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Old 07-14-2020, 05:42 PM   #41
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I'm a big fan of Genesis. Great used $$ and really a great car with reasonable repair costs. A bit eclectic so local garage might be surprised, but when they get into it its a typical car. My 2009 had 150K low maintenance. If going used and need CarPlay be careful of what you can get. Some years the Ultimate cannot support it (screen size). Ultimate is a great deal.
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Old 07-14-2020, 07:42 PM   #42
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If you're gonna buy a used car and you're not handy with fairly complex car repair methods (including more than basic tools in your tool box) I would suggest a pre-purchase inspection. Find a reputable shop that has experience with that model if you aren't sure what to look for or how to evaluate what you find. It may cost $150-250 dollars but it's money well spent to weed out potential problems. Put the vehicle on a lift, pop the wheels and check the brakes, the suspension, look for leaks, frame or underbody damage, unexpected corrosion. Maybe do a compression test, even a borescope of cylinders might be a good idea if there are known issues with that model. The shop will be able to check TSBs and recalls and give you a list of things that could be potential trouble issues.
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Worst luck with used cars...now what?
Old 07-14-2020, 07:46 PM   #43
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Worst luck with used cars...now what?

Quote:
Originally Posted by airforce1 View Post
Hi ER,



I've always believed in purchasing used vehicles but the last few have been a bust.



BMW 525 wagon: 140K miles, bad oil divertor valve, engine flush. $1200 repair. Sold.



Nissan quest van: 60K miles, replaced motor mounts, failing transmission, got side swiped and thankfully received a replacement check. In car heaven.



Current car inventory:



1. 2007 Toyota 4 runner, bought at $8.7K, currently 165K miles, failing rear diff. Repair estimate $1200. Local market value $7K+. Car fully paid for.



2. 2008 Lexus LX570, bought at $26K, 83K miles, chased and poured $4K diagnosing and repairing a persistent transmission issue (intermittent reverse gear not engaging). Got 2nd opinion from another shop and it turned out original repair shop was incompetent and filled 1.5-2.0 qts low on tranny oil. We used trans-x oil as an interim fix but local transmission shop advised us that we will be seeing eventual transmission failure and should expect a rebuilt tranny repair bill north of $3K. Local market value $23K. Car loan balance $13K.



I've read on other threads on ER.org the conventional wisdom is repair bills are better than car payments and if repair bills are less than 50% of car value, then go ahead with repair and keep.



Should we repair and keep or move onto another vehicle?



Thoughts?



Thanks!


My limit for repair cost would be a maximum of 10% of current car value. Anything higher than that I consider selling. At 20% of value no way I keep the car unless its under 2-3 years old and prestine.
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Old 07-14-2020, 08:05 PM   #44
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Some cars require either money or expertise - some in large quantity of both.

If one is buying used cars (without warranty), by someone who doesnít work on cars, they should be of more than average reliability.

Lexus - no
BMW - no
Nissan - no
Volvo - no
VW - maybe
Toyota - yes
GM - surprisingly yes
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Old 07-14-2020, 08:39 PM   #45
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Have always bought new cars to save money, and it has worked. Dump all the problems on someone else, and go buy a decent new car. A Jeep can be had for 20k, a Ram pickup can be had for 21k. Just got to take your time to get the good deals.
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Old 07-14-2020, 08:58 PM   #46
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Really? Those are interesting prices.
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Old 07-15-2020, 06:51 AM   #47
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Quote:
Originally Posted by Aerides View Post
Maybe revisit your belief in used cars? They'd don't seem to be returning the favor.

You can get a lot of nice in a new car for around $30k, and then have a warranty for a few years.
With a couple of exceptions (one good, one expensive) I've been a new car buyer, keeping them 100K or more miles. Unless a car is reliable, but unpopular, I find used car prices to be crazier than new car prices.

If you calculate economic life as 150K to 200K miles, 50% of new price for 30% of remaining vehicle life seems common. Yes, I know that a long-term owner with a good mechanic or a dedicated DIY can keep a car longer.

Also, if you're going to be hosed with every transaction, it's best to minimize the total number of transactions.
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Old 07-15-2020, 08:53 AM   #48
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Quote:
Originally Posted by stephenson View Post
Some cars require either money or expertise - some in large quantity of both.

If one is buying used cars (without warranty), by someone who doesnít work on cars, they should be of more than average reliability.

Lexus - no
BMW - no
Nissan - no
Volvo - no
VW - maybe
Toyota - yes
GM - surprisingly yes
is this a personal list? we've had a Nissan for 8 years and a lot of miles and had one 1200 repair two years ago...
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Old 07-15-2020, 10:01 AM   #49
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Quote:
Originally Posted by Music Lover View Post
There are a lot of reliable used vehicles but when you're talking about cars made in 2007 and 2008 then they're probably nearing the end of their useful life.

My general rule is to buy something 3 or 4 years old with low mileage and keep it for 5 to 7 years. For me, that's the sweet spot of ownership...someone else takes the depreciation hit, I get a technologically updated car with lots of life left, and I get rid of it before major things start going wrong.
This.

I only drive used, always buy a 3-4 year old luxury model that someone else has taken the depreciation hit on, and then usually from a dealer that offers some warranty on roadworthiness (Carmax or dealership etc.).In this way I've had the joy of driving some great cars at lower cost.

Personally, I would not buy anything from Nissan, but that's my experience (I could add a few more to that list) and I'd be wary of a BMW with the mileage listed by the OP, though he did not give a year so maybe it was bad luck. I do not feel there's any special credit given for driving a car to 200k miles and I do pay attention to the reliability ratings of CR etc but even then, I still bought, and enjoyed, a Jag

For the OP, I would keep the Lexus if you like driving it. I loved owning one and it was super reliable and had the lowest maintenance cost of any vehicle I owned. But I factor in at least $2-3k a year as the basic cost of maintaining any car (excluding gas, tax, insurance etc). Some years less, some more, but I try to average it out at that rate. Once the costs start to go above this, I make a decision to change or stick for another year. I'd love to do my own maintenance but I'm never going to get into that level of equipment and effort at this point.
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Old 07-15-2020, 10:58 AM   #50
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Ivinsfan,

It is my personal view :-)

Didn't mean to offend - and my comment was certainly a generalization, but I have had lots of friends buy Nissan and then (usually north of 50K miles) ...
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Old 07-15-2020, 10:59 AM   #51
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Quote:
Originally Posted by gooddog View Post
Have always bought new cars to save money, and it has worked. Dump all the problems on someone else, and go buy a decent new car. A Jeep can be had for 20k, a Ram pickup can be had for 21k. Just got to take your time to get the good deals.
When I was looking hard to buy a new truck last year, I looked at RAM, and there was no way anyone was going to sell me a 2020 RAM pickup for $21K, even if I held a gun to the salesman's head. The best price I could find on a RAM (equiv, to F150 truck) was for the RAM "work truck" model at about $25K. This was with no features, straight cab, rubber floor mat, no bed liner, steel wheels.

The best F150 I could get was at $29K + TT&L, and that was minimal accessories, ex cab, no V8, short bed, auto (V6). GM/Chev were similar to the F150.
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Old 07-15-2020, 01:56 PM   #52
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Best Car Investment: I learned to fix cars myself.

When I was in the US Army and recently got married and had to buy $500 cars in the 1970's. My cars broke down frequently and I could not afford to take it to a mechanic.

Lucky for me, the US Army encourages soldiers to take classes to advance their education so I signed up for Automotive mechanic training which the government sent me to schools and the government provided all the tools that I needed as part of my training.

I learned how to replace entire engine in a single weekend. Saturday to pull the engine out and Sunday to install a rebuilt engine from Grand Auto.

If you do not have these skills, then you have to spend a little more money buying late model cars from Toyota.
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Old 07-15-2020, 02:20 PM   #53
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Quote:
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Ivinsfan,

It is my personal view :-)

Didn't mean to offend - and my comment was certainly a generalization, but I have had lots of friends buy Nissan and then (usually north of 50K miles) ...
It takes me then that to offend me I was just curious if you got that list from another source ..in the market for a new vehicle and am interested in those kind of things. Nissan doesn't have what we want this time around.
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Old 07-15-2020, 02:36 PM   #54
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In the same situation. 2006 Accord has 120K miles on it, the 2007 Solara has 60K miles on it. Both in top condition. Cannot imagine us shopping for a replacement for at least 5 years, perhaps even 10.

Don't get to put much mileage on either since we are away at least 4 months of the year and no longer work. We pull the insurance off them when we are away.
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Old 07-15-2020, 03:43 PM   #55
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After 3 million miles of business travel in mostly used cars i only will and can buy new. Our 16 year old Lexus has been flawless. However It was bought new. Likewise with our 5 year old Chevy Equinox. Buy new and keep them.
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Old 07-15-2020, 05:56 PM   #56
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Quote:
Originally Posted by stephenson View Post
Some cars require either money or expertise - some in large quantity of both.

If one is buying used cars (without warranty), by someone who doesnít work on cars, they should be of more than average reliability.

Lexus - no
BMW - no
Nissan - no
Volvo - no
VW - maybe
Toyota - yes
GM - surprisingly yes

I believe that there are good years in a perdicular brand and there are bad years. When I was young, I was a GM fan because GM cars were inexpensive and easy to fix. However, there are some years when GM were not reliable. It is like a bottle of wine.

I have a three strike rule. If the car break down three times, I buy another car. I have yet to own a car that broke down three times except for a 1972 $500 Dodge Colt which was made in Japan before Japanese cars became reliable.

I find the discussion on Nissan entertaining. It reminds of a Ford truck owner versus a Chevy truck owner. Loyalties can run deep. I usually read consumer's magazine for reliability rating from car owners and Toyota seems pretty good while other brand will depend on the model and year.
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Worst luck with used cars...now what?
Old 07-15-2020, 07:00 PM   #57
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Worst luck with used cars...now what?

We buy new vehicles and buy the manufacturer warranty. 2008 Town and Country has 198,000 miles and bumper to bumper lifetime warranty (999,999 miles or 2035 - whichever comes first). Paid $1500 for the warranty. Used it multiple times...just had a new OEM radiator assembly installed. Prior to that it was a transmission plus other stuff. Donít see a reason to get rid of it yet.

2014 Jeep Grand Cherokee - bumper to bumper unlimited miles lifetime warranty. $1800. Has 86000 miles and no warranty usage. Iíll be keeping this Jeep until 250,000 miles or more.

Nobody seems to mention the extended warranties....have I been had?

ETA: I could fix some of this stuff myself, including welding and engine replacement, but why bother for such low warranty costs.
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Old 07-16-2020, 09:10 AM   #58
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Scotty Kilmer (see his YouTube channel) says, "Poor people buy used BMWs. Rich people buy used Toyotas."
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Old 07-16-2020, 09:40 AM   #59
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Quote:
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We buy new vehicles and buy the manufacturer warranty. 2008 Town and Country has 198,000 miles and bumper to bumper lifetime warranty (999,999 miles or 2035 - whichever comes first). Paid $1500 for the warranty. Used it multiple times...just had a new OEM radiator assembly installed. Prior to that it was a transmission plus other stuff. Donít see a reason to get rid of it yet.

2014 Jeep Grand Cherokee - bumper to bumper unlimited miles lifetime warranty. $1800. Has 86000 miles and no warranty usage. Iíll be keeping this Jeep until 250,000 miles or more.

Nobody seems to mention the extended warranties....have I been had?

ETA: I could fix some of this stuff myself, including welding and engine replacement, but why bother for such low warranty costs.
In general I avoid warranties but the lifetime one that was offered by Jeep is pretty good. I didn't get it but thought long & hard about it. They no longer offer the lifetime option so it must have worked better for the buyers.
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Old 07-16-2020, 11:54 AM   #60
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[QUOTE=Ed_The_Gypsy;2457447]Scotty Kilmer (see his YouTube channel) says, "Poor people buy used BMWs. Rich people buy used Toyotas."[/QU

Click bait I guess or making fun of people? I have money and don't want to buy a used Toyota and if Scotty doesn't like it he can you know what.
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