Worst luck with used cars...now what?

[aja8888]

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.

 

[2177V]

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.

 

[ivinsfan]

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.

 

[brett]

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.

 

[foxfirev5]

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.

 

[2177V]

Some cars require either money or expertise - some in large quantity of both.

If one is buying used cars (without warranty), by someone who doesn’t 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.

 

[51notout]

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. Don’t 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. I’ll 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.

 

[Ed_The_Gypsy]

Scotty Kilmer (see his YouTube channel) says, "Poor people buy used BMWs. Rich people buy used Toyotas."

 

[yakers]

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. Don’t 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. I’ll 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.

 

[ivinsfan]

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.

 

[Moxie]

I've had the BEST luck with Toyotas...Camrys and now a great Avalon! All bought

3 years old, low miles, and certified not even necessary, as they charge extra, and these models are so reliable you don't need the extra expense.
Just check the CARFAX and look closely at anything out of the ordinary, at a reputable dealer, and you do well!

 

[aja8888]

I've had the BEST luck with Toyotas...Camrys and now a great Avalon! All bought

3 years old, low miles, and certified not even necessary, as they charge extra, and these models are so reliable you don't need the extra expense.
Just check the CARFAX and look closely at anything out of the ordinary, at a reputable dealer, and you do well!

No one buys a BMW or Mercedes for Good Luck! It's called Pride of Ownership!

My neighbor down the road a bit has a BMW roadster and she was bragging to me that she has a $5000.00 repair invoice. I asked her what was fixed and she didn't know! This is a true story!

 

[travelover]

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

Coming out ahead on extended warranties seems to fall in the same category as casino winnings. You never hear about the losses.

 

[jkern]

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.

Keeping your maintenance cost to 10% or less will restrict you to fairly new cars. I sold my last car for $4K. That means the new owner can't do much more than an oil change before reselling. I tend to look at total cost. Newer cars have lower maintenance and higher depreciation. Older cars have higher maintenance and lower depreciation.

 

[jkern]

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.

I bought a brand new car in 1992 and kept it for 15 years, 290K miles. Next car bought brand new and kept it 13 years, 220K miles. Both cars were running great when I sold them.

 

[51notout]

Coming out ahead on extended warranties seems to fall in the same category as casino winnings. You never hear about the losses.

LOL. If you plan to keep a vehicle a long time seems like easy insurance to me. As I read on another thread recently, and paraphrase, ..... insurance is one of the most important things you should have...isn’t a warranty just insurance?

Surprising so many risk takers on ER go without it [emoji57]

 

[travelover]

LOL. If you plan to keep a vehicle a long time seems like easy insurance to me. As I read on another thread recently, and paraphrase, ..... insurance is one of the most important things you should have...isn’t a warranty just insurance?

Surprising so many risk takers on ER go without it [emoji57]

Yes an extended warranty is just insurance and a basic tenet of buying insurance is to never insure against a loss you can sustain easily. Insurers are experts at estimating risks and payouts and price premiums accordingly.

 

[51notout]

Yes an extended warranty is just insurance and a basic tenet of buying insurance is to never insure against a loss you can sustain easily. Insurers are experts at estimating risks and payouts and price premiums accordingly.

Agreed.

However, those “small” self-insured breakdown/repair costs are generally prelude to a much larger outlay on a replacement vehicle. With the extended warranty a person gets to push the replacement vehicle purchase out, sometimes considerably longer. Maybe to such an extent to even completely avoid the purchase of one or more vehicles over time.

Not saying everyone/anyone should buy one, just that there can be decent value in them.

 

[travelover]

Agreed.

However, those “small” self-insured breakdown/repair costs are generally prelude to a much larger outlay on a replacement vehicle. With the extended warranty a person gets to push the replacement vehicle purchase out, sometimes considerably longer. Maybe to such an extent to even completely avoid the purchase of one or more vehicles over time.

Not saying everyone/anyone should buy one, just that there can be decent value in them.

I find it strange logic, but whatever works for you.

 

[jazz4cash]

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.

I could not follow a 10% limit for repairs. I try to manage overall cost to <~$200/mo. Does your 10% limit include tire replacements? Probably not. My cars are very old.

 

[BeachOrCity]

A 10% limit on a car worth a few thousand doesn’t make a whole lot of sense.

But I have a theory of why you are having bad luck. You need to switch to just off lease cars a few years old at most and preferably ones that still have a year left on their bumper to bumper warranties. Many luxury brands have warranties of 3-5 years now so you can find the luxury cars you seem to like but get them cheaper.

Find one that depreciates more than average (Audi infinity Cadillac) and you should be able to get a three year old car for 50% of new maybe less if you search hard.

These cars should last you another 10 years after you buy them if you don’t put too many miles on.

 

[brett]

We took our time buying our current vehicles. About 2-3 months to find the right Accord....full load, no accidents, low mileage.

Same for the Solara...including the soft top.

Took my time, I am fussy. Looked at several when buying the Accord. Bought the Solara on the first viewing but cancelled lots out on line prior to buying one.

Know what you want. Take your time. Don't be impatient. Trust but verify.

 

[Sunset]

LOL. If you plan to keep a vehicle a long time seems like easy insurance to me. As I read on another thread recently, and paraphrase, ..... insurance is one of the most important things you should have...isn’t a warranty just insurance?

Surprising so many risk takers on ER go without it [emoji57]

If I could buy lifetime car warranty for $1,800 I would, and then I'd keep the car for the rest of my life.

When I bought my Toyota, they offered a 4 year warranty for $1,500 to take effect after the standard 3 yr finished. I WISH they had offered a lifetime one. It would be a gift.

 

[stephenson]

Sorry - I had forgotten about Mitsubishi - the post re the 1972 Dodge Colt reminded me it was built by Mitsubishi.

I would add Mitsubishi to the list of never buy.

 

[travelover]

If I could buy lifetime car warranty for $1,800 I would, and then I'd keep the car for the rest of my life.

When I bought my Toyota, they offered a 4 year warranty for $1,500 to take effect after the standard 3 yr finished. I WISH they had offered a lifetime one. It would be a gift.

There are OEM extended warranties and then there are other companies' extended warranties, some issued by fly by night companies. I've never seen an OEM lifetime extended warranty.