Really bad knock

[mzziaz]

The least costly vehicle is the one you already own, usually.

Well, not when the engine has asploded.

[S204STi]

Yeah, even then.  Think of it this way:  Let's say you spend $5000 on this car over the course of 5 years on repairs.  Compare that with the cost of buying another used car; let's say $2500; and having something else costly break on that; let's say, another engine and trans; and suddenly it doesn't really start to look like much of an advantage.  Or let's say he wants to take out a loan and finance a newer car; let's say $10,000; that ends up being more than $10,000 over the course of 5 years for another car that's going to require maintenance and repair on top of that.

[ifcar]

Yeah, even then.  Think of it this way:  Let's say you spend $5000 on this car over the course of 5 years on repairs.  Compare that with the cost of buying another used car; let's say $2500; and having something else costly break on that; let's say, another engine and trans; and suddenly it doesn't really start to look like much of an advantage.  Or let's say he wants to take out a loan and finance a newer car; let's say $10,000; that ends up being more than $10,000 over the course of 5 years for another car that's going to require maintenance and repair on top of that.

Your calculation is leaving out resale value. A car that's worth $10,000 now isn't going to sell for $0 in five years, whereas a car that's worth $2,500 now just might.

[S204STi]

Granted, but it won't likely be worth $10 in 5 years unless it's a freakish oddity such as a Toyota or Subaru.

[MrH]

Granted, but it won't likely be worth $10 in 5 years unless it's a freakish oddity such as a Toyota or Subaru.

I would hope my BRZ is worth more than $10 after 5 years!

[S204STi]

lol oops.

[Eye of the Tiger]

I would hope my BRZ is worth more than $10 after 5 years!

I'll give you $20 for it.

[AutobahnSHO]

This is a fairly common occurrence. People have a sometimes illogical desire to keep a dying car going. 

it's also common for people to want to save money.  Less than $2k for a car that is perfectly serviceable ain't a bad deal.  Brakes are good, tires are mostly ok, sub is already wired, minimal body damage, no rust, no other issues.  Can't get that for a new used car for that money. Especially in today's market, see Madman's "shed of the week" thread. Car that was $3k a year ago is $4k now.

[280Z Turbo]

I'll give you $20 for it.

And make $180 profit on scrap iron. Genius.

[hotrodalex]

And make $180 profit on scrap iron. Genius.

There's no iron in the car. It'll be completely made out of rice by the time he's done with it.

[AutobahnSHO]

All the BRZ haters need to leave. Now.   





And I'd totally give $100 for it. 

[ifcar]

Granted, but it won't likely be worth $10 in 5 years unless it's a freakish oddity such as a Toyota or Subaru.

For sure. But putting money into an old car is money that's gone when the car eventually does give up. So maybe you spend $2,500 for a new engine, and the car lasts you five years and then dies. Let's be generous and say it's still worth $500 then, but that you've spent $500 on other various repairs during those five years.

Whereas the $10,000 car would be worth at least $5,000 after five years. Let's say even that it too needed $500 in repairs. So that's a five-year cost difference of $3,000 to have a nicer car, or a monthly difference of $50. So yes, the difference isn't negligible, but it's not unreasonable either.

[S204STi]

Yep.  This is all true, I'd just submit that if you can't afford the loan on that $10,000 car, you're stuck with the other two options, which don't add up well.

[AutobahnSHO]

$10k cars today will not be worth $5k in 5years. Unless it's an upclass car or not driven so the mileage stays low, this is a daily driver.

Also, it might only be a difference of $50 if you spread it out over the 5 years, but for the first 2-3 years the loan on a $10k car would be several hundred per month. Don't want to do that now.

Plan is to creditcard it this month, pay it off with tax refund- and be done with it. For several years and tens of thousands of miles.

[ifcar]

I don't think used car values plummet that quickly -- even new cars don't necessarily lose 50 percent of their value in five years. Just look up what's available at $10,000 now and see what the same model five years older is selling for today.

[AutobahnSHO]

Looking cars.com 75miles from home (which includes Nashville, a pretty big market), picking the Accord (top resell value used,) $10k gets an average 2003-2006 with 130k miles on them and 2.4L  4cyl.

$5k there aren't as many, 6 cars 1994-2002, a 1994 has 164k miles, a 1996 has 138k miles, the rest are over 189k miles. So I guess you're right there.

Now a Ford Focus though $9k gets a 2007 with average 70-100k miles.  $5k is a 2005 with 138k or 2000 with 154k for $4k.

Still, if I were to fix my Subaru we're talking $2400-2900 value (fair vs. Good, private party sale).  Plus you say "used, inspected engine installed 2012" and the value goes up some.

---------------------------------------

Seems as long as I've been buying beaters $2-3k is the bottom end of a "driveable" car that will last a year or two before any repairs. I only paid $2500 for Subie, $1300 for dealer to rebuild A/C, $160 for axle replacement, $190 for battery, alternator, and labor.  A few tires, and it's now 3 years of ownership.  $115/month.

New motor for $2000, drive it 2 more years, assuming ZERO remaining value= $83/month.  (But could part out much of it possibly?)

No $10k car is $83/month, not even a $5k car is that low on the payments over 5 years (probably $100/month?). So yes, it's almost always cheaper to go older..    Desirable, not as much.

[AutobahnSHO]

Well, indie shop says it would be ~$2200 to tear engine apart and fix it. Looks like metal particles are in the oil= bearings.

But for $1500-1800 he can put a low-mileage JDM engine in. He'll put new t-belt and roller, new main seals (engine and tranny), recharge the a/c, etc...  And should be good for another 100k miles.  Put $1200 down to order the engine.

[Rupert]

Good call.

[AutobahnSHO]

yeah- I just wish it were a manual transmission turbo awesomeness I was sinking so much money into.

At least my son says he wants to drive it. He'll be 15 in April of 2014. He probably hasn't heard people making fun of others' cars yet...

Mechanic said he flipped (repaired and sold for profit ) a Subaru earlier this year, and he drives a Subie wagon- his kids don't like it though....

[Rupert]

Kids that complain about how uncool the family car they are driving is can buy their own.

[AutobahnSHO]

Yup!  And they need to learn to just brush off what others say.

I've noticed the most well-adjusted adults are the ones who were NOT the most popular in school- they learned to deal with rejection, pain, other social negatives.  So it's not a bad thing to get made fun of some in youthhood..

[TurboDan]

Yup!  And they need to learn to just brush off what others say.

I've noticed the most well-adjusted adults are the ones who were NOT the most popular in school- they learned to deal with rejection, pain, other social negatives.  So it's not a bad thing to get made fun of some in youthhood..

My dad recalls driving to school in his uncle's MG where he could touch the pavement by reaching over the door. 

His first car on his own was an air-cooled Beetle, which got rolled up a Brooklyn street by a garbage truck. 

[AutobahnSHO]

Lol. My first was a Datsun b210. Fiends lifted the rear and rolled it across the parking lot so I couldn't find it after school.

[CALL_911]

Rolling in the maroon '92 Legacy wagon, while my HS classmates were driving their new A4s/G37s/328xis was classic as hell.

[AutobahnSHO]

pfft. after the Datsun I had a 1978 Subaru FOUR WD. In 1992.
That car was awesome- it was FWD but throw a shifter next to the regular gearshift down (didn't even have to clutch!) and it locked the 4wd and a BIGASS green light on the dash came on.         (My friends would always do a "do I have my seatbelt on?" check)

Could do donuts in reverse or forwards. The spare tire was next to the carberator- it had a loooong hood. And from the driver's seat if I leaned right just a little I could touch the passengers' window.

[hotrodalex]

Meh, most kids don't actually make fun of other kids' cars. Only time I saw it happen was when a kid tried to brag about his car or thought he was so cool because of it.

[Cookie Monster]

Meh, most kids don't actually make fun of other kids' cars. Only time I saw it happen was when a kid tried to brag about his car or thought he was so cool because of it.

Yeah, most kids don't give a shit. Usually they just grumble about their own cars being shitty, but don't make fun of others' cars.

[Laconian]

Shitty cars are a rite of passage.

[Rupert]

Indeed.

[Secret Chimp]

I never got to have a car so all of the rest of you were spoiled assholes to me regardless.