Is it time to splurge on a new car?

[KMyer]

I have always followed the advice given to me by one of our retired partners. He used to always say:

"Your cheapest car is the one you are already driving".

I sold my first car after it left me sit three times along the road within one month. I got my money's worth from my AAA membership that year.

We got rid of our Minivan after it was totalled because its engine caught on fire while my wife was waiting in line to pick up the kids from elementary school. Fortunately everyone was safe, and the kids enjoyed seeing the firetrucks show up at school.

Now for my current decision......

My 2001 VW Passat has over 150,000 miles on it. It works fine but some of the dashboard warning lights keep coming on. We took it to the mechanic several times and he says that the brakes are working just fine. Is it time to buy another vehicle? The next car should last me until I retire?

I'm considering one the following three vehicles:

2012 VW Passat TDI
2013 Ford Fusion Hybrid when it comes out this fall
2012 Audi A3, A4 or A5

Do you have any advice or recommendations? I don't need to get financing.

Oh yeah..........., my wife thinks I should buy her a new Mustang.

Thanks.

 

[Rowdy]

I can't see buying a new car at all. Why not a 2 year old version of any of the above suggested models (except for the hybrid, which isn't available yet)? Quite frankly, a hybrid typically takes a long time to recoup, unless you are doing it for reasons other than saving gas.

 

[ziggy29]

I can't see buying a new car at all. Why not a 2 year old version of any of the above suggested models?

Worth taking a look, but the extremely steep depreciation curve of the first two years isn't as common as it used to be. The strategy of "buy almost new and let someone eat 1/3 depreciation in the first 2 years" became a victim of its own success and popularity. For many makes and models, the depreciation curve has flattened out due to increased demand in "nearly new" vehicles and, in some cases, is almost linear. Where it's almost linear I'd actually opt for new -- full warranty and you don't have to worry about where the car has been or how it has been driven and maintained.

 

[Midpack]

These days there are many reliable makes that you can expect 200,000 miles from without a major (thousands of $) repair. The best rule of thumb I've heard is 'you should replace a car when the cost of repairs exceeds half the book value of the car.' Being left stranded several times or catching fire would understandably trump repair costs.

And buying a late model used car is less costly than new as noted.

Full disclosure: The longest I've ever kept a car is 164,000 miles and it was still running and looking fine. I just traded in a 10 year old car with 124,000 miles, also running and looking just fine - I'm confident I could have gotten several more years of service without serious issues. IOW, the decision to get a new car is part cost, part irrational for most people, self included...

Good luck, you can't go far wrong whatever you decide.

We owned an 2001 Audi TT for 7 years. Solid, fun car and pretty reliable, but for routine service or any repairs, be ready for a shock. For example, brakes all the way around ran us $1200 after about 60,000 miles - and that was about 7-8 years ago. They had to replace the front rotors, when I asked why, they told me 'they're designed to be replaced every 60,000 miles' - the seemed almost proud of it. My Honda Element went 124,000 miles before the front rotors needed to be replaced, at a much lower cost...

 

[Mulligan]

I have had 2 lights on concerning my brakes for 3 years. My brakes had been changed just prior to light coming on. They have been checked out and they are fine. My check engine light comes on all the time. I figured out its just my gas cap that is partially stripped, so if I dont take the time to put it on the exact way, it comes on. My car has never failed me in 10 plus years. Im not saying ignore your lights, Im just saying your car may not be ready for the junk yard just because of a few lights. Get them checked out to reassure yourself.

 

[Midpack]

I can't see buying a new car at all. Why not a 2 year old version of any of the above suggested models (except for the hybrid, which isn't available yet)? Quite frankly, a hybrid typically takes a long time to recoup, unless you are doing it for reasons other than saving gas.

The Fusion hybrid has been available for several years, the OP is probably waiting for the 2013 model as it's a complete restyle...

 

[Rowdy]

My old Taurus had a check engine light on for about 5 years. After the dashboard lights burnt out, the check engine light was the only light I had to illuminate the dash.

 

[JOHNNIE36]

In many cases the "check engine" light comes on due to a malfunction of the oxygen sensor. This is an environmental requirement and is covered by the warranty. Don't hold me to this but in some cases it's covered for life, sometimes 100k miles. Review your owners manual first and then ask the dealer for a diagnostic check. Most car part places like Pep Boys also do the diagnostic check. If it's an oxygen sensor and not covered under warranty you can replace it. Or have someone disconnect it unless you are really into the environment thing.

 

[TromboneAl]

Should you get a new car because some lights come on? I'd say no, try to fix the lights problem. If it's a check engine type of light, put tape over it.

 

[Bikerdude]

I'm buying new because:

1.) I'm retired

2.) I have the $$$

3.) I'm not getting younger

 

[powerplay]

I'm buying new because:

1.) I'm retired

2.) I have the $$$

3.) I'm not getting younger

+3

 

[ERD50]

Should you get a new car because some lights come on? I'd say no, try to fix the lights problem. If it's a check engine type of light, put tape over it.

They don't have emissions test in CA? In IL, we have to get tested every two years, or no registration. Used to be a sniffer up the tailpipe, now they just plug into the port that provides the data for the check engine light. If the cars computer says all is well, they accept that.

-ERD50

 

[easysurfer]

In many cases the "check engine" light comes on due to a malfunction of the oxygen sensor. This is an environmental requirement and is covered by the warranty. Don't hold me to this but in some cases it's covered for life, sometimes 100k miles. Review your owners manual first and then ask the dealer for a diagnostic check. Most car part places like Pep Boys also do the diagnostic check. If it's an oxygen sensor and not covered under warranty you can replace it. Or have someone disconnect it unless you are really into the environment thing.

Unless one wishes to pay big money for wasting gas, get the oxgen sensor fixed. Plus the car won't run like crap.

My car has had sensor replaced a few times during it's lifetime. The first thing I noticed was the improved mileage.

 

[bld999]

With basic care most cars won't struggle to get to 200k mechanically, but the body, interior, and niggly small stuff has trouble lasting that long.

I have a '97 Ranger pickup that at 202k has just begun to use oil. I do however keep my triple A current.

 

[obgyn65]

IMO most of us here are savers, not spenders therefore you will get biased answers advising against a new car, especially a flashy Mustang.

Do you have any advice or recommendations? I don't need to get financing.

Oh yeah..........., my wife thinks I should buy her a new Mustang.

Thanks.

 

[Texas Proud]

I have a Ford Explorer.... and had the ABS light come on and off for the last two years.... took it to a Ford dealership to fix and they said 'nothing wrong' (the light was out at the time)....

Took the car in for another light to a new place.... they said that the error could be one of two things... but first they needed to reflash the car... now both light were on and they fixed the ABS light (it was a bad sensor), which fixed our intermittent speed control problem... it did not fix the other problem... that cost $550...


One of the issues is that during inspection, if you have a check engine light on they are not supposed to pass you.... that is the only reason I got it fixed...


On a final note, I start to look at getting a replacement car after 100,000 miles or 10 years... most of the time I will do both.... after awhile, I just want a new car....

 

[Walt34]

... and you don't have to worry about where the car has been or how it has been driven and maintained.

That's why we'll buy new when replacement time comes. Our prior experience with used cars was not positive, I think mostly because the previous owner knew they weren't going to keep it long and skimped on maintenance. I'm meticulous about maintenance since it's a lot cheaper than repairs or replacing the car.

DW's little Buick is coming up on 134k miles and everything works fine although it's just starting to use a quart of oil between changes. I'm hoping to get 200k+ miles out of it. Anything more than that is gravy.

 

[travelover]

Have you researched this on the internet? I did a search for Passat brake warning light and got lots of hits.

I've had good luck in the past searching for what often turns out to be common for a particular model, even when dealer mechanics are stumped.





OK, Now you can buy that Mustang convertible that you really want.

 

[Bestwifeever]

I see a Mustang in your future.

 

[rescueme]

IMO most of us here are savers, not spenders therefore you will get biased answers advising against a new car, especially a flashy Mustang.

I'm glad I purchased my "flashy Mustang" before I joined this forum!

 

[brewer12345]

I traded a functional car with 150k on it for a new truck in November The car would not do what I needed it to do and I was ready to move on. No regrets.

You could keep the passat running for a while, so at this point it is a choice rather than a need to buy new.

 

[Mulligan]

I have a Ford Explorer.... and had the ABS light come on and off for the last two years.... took it to a Ford dealership to fix and they said 'nothing wrong' (the light was out at the time)....

Took the car in for another light to a new place.... they said that the error could be one of two things... but first they needed to reflash the car... now both light were on and they fixed the ABS light (it was a bad sensor), which fixed our intermittent speed control problem... it did not fix the other problem... that cost $550...

One of the issues is that during inspection, if you have a check engine light on they are not supposed to pass you.... that is the only reason I got it fixed...

On a final note, I start to look at getting a replacement car after 100,000 miles or 10 years... most of the time I will do both.... after awhile, I just want a new car....

That is why I ignore the lights as checking it out usually results in a cost that doesnt change anything. When inspection time comes, I slide my dental appt. reminder card into the face of the dashboard in a strategic manner that covers the lights and looks harmless at the same time. Has passed inspection twice, hopefully this summer the trick will work again.

 

[Midpack]

That's why we'll buy new when replacement time comes. Our prior experience with used cars was not positive, I think mostly because the previous owner knew they weren't going to keep it long and skimped on maintenance. I'm meticulous about maintenance since it's a lot cheaper than repairs or replacing the car.

+1. My last used car purchase was 1977, and it turned out to be a mistake. I know used is better if you do your due diligence, but I buy new and keep the car for about 10 years...car buying is part rational, part not in varying ratios for most people.

 

[KMyer]

Thanks for everyone's advice.

I decided to totally disregard how our investments did yesterday and proceed with my plan to test drive new vehicles.

My check engine, ABS, and brake panel lights didn't light until the end of the day I did check out the internet and saw that I am not the only person seeing these warning lights.

I think we have ruled out getting a new VW Passat. We just can't think of $30,000 worth of reasons to own a 2012 Passat vs. a 2001 Passat

I looked at the window stickers of the Audi's and kept walking

We were really impressed with the 2012 Ford Fusion Hybrid. However, I wish the new 2013 model was available because I really prefer the new body style for 2013. The dealer threw in enough discounts though to make it tempting

We were surprised with the how fun the 2012 Volvo S60 is to drive. We didn't expect that from a Volvo. However, this car was probably the least practical of the cars we drove today because of the relatively low mileage ratings and because the backseat is so tight vs. the other cars. My wife kept reminding me that a Mustang has even better acceleration than the Volvo

The 2012 Toyota Camry Hybrid is also a nice car, even if it a bit mainstream and common

It is interesting to see how some of the dealers try to get you to sign on the dotted line right away. I guess I am too cautious because I would just throw out a really lowball number when they would ask me what it would take for me to make a decision on the spot.

I will take a couple of days to think about it.

I hope we don't have too many more market days like we did yesterday or I may still be driving my 2001 Passat when I retire

 

[KMyer]

Here's a link to the future car that is testing my patience:

2013 Ford Fusion Car | The All New 2013 Ford Fusion. Redefining Your Expectations Of What A Car Should Be | Ford.com

The car is supposed to be available in September.