WWYD? Car / bills / dog question

Here's my scenario. I have a 5 year old VW Passat that has over 90k miles on it. I'm starting to put more money into it, spent a few hundred a month or so ago on ignition coils. I need a new timing belt and each time we turn on the AC, the check engine light comes on - who knows how much that repair will be! I just paid it off in May and it's $400. a month I'm saving. We're comfortable financially but it is nice having that extra dough each month. This is our only vehicle. DH works from home and I work 7 miles from home.

With our dog, and other things that we can't do with a car like pick up furniture purchases, or put a dog crate in it, we have been considering an SUV. The Ford Escape hybrid is on the list but the Honda CR-V is our top pick right now. The CR-V has the same city/highway mileage as our car, but doesn't require synthetic oil or premium gas so the cost of ownership will be less. But, we would have a car payment again.

DH just agreed this weekend that we could consider getting a second Labrador when the VW craps out/needs expensive repairs or mid-2010, whichever comes first.

I'm just trying to figure out, at what point I become a chump for wanting to keep a car that needs $$$ just because it's paid off. A timing belt itself is not expensive, but the repair is labor intensive. I have a lot of incentives for getting a new SUV but the conservative part of me doesn't want to just trash the old car in favor of getting something new and shiny, you know?

If you read this long, thank you. What would you do?

Re: WWYD? Car / bills / dog question

I was in a similar situation. We had a truck for DH that we dumped about $2k into before we decided enough was enough and we got a new car for him. We bought Certified pre-owned so the payment isn't bad and the car is still under warranty.

Don't forget there are incentives for buying a new vehicle this year also.

Good luck whichever way you decide!

Re: WWYD? Car / bills / dog question

I think when things start costing too much money, it's time to get a new car. I know for me, when the repair bills each month started coming close to a new car payment, I figured it was time.


Also, keep your eye out, Honda does 0% financing offers every so often which would help keep your payment down.

Message edited 4/9/2015 8:45:56 PM.

Re: WWYD? Car / bills / dog question

New car! Mr. Opportunity is knocking!

This is one of the reasons I lease. I know it's a never ending car payment but I've been there and I hated dumping money into cars and most of all hated breaking down.

Re: WWYD? Car / bills / dog question

well at least you are guaranteed to get a decent amount of a buy back with that car. Especially with a clunk law giving $4500(?) and your car is FAR from a clunker.

I have a six year old car and do not plan on buying a new one until my husbands car is paid off in five and half years. One car payment at a time! So in your case I think your ahead of the game.

Re: WWYD? Car / bills / dog question

Re: WWYD? Car / bills / dog question

Re: WWYD? Car / bills / dog question

I know what you mean, I don't have that "I feel confident in my car" feeling anymore. We were driving back from Brooklyn when the engine started acting up last time. It wound up only being about a $300. repair but I had that feeling, and I lost a working day at the car dealership.

I should look into all the incentives, thank you for reminding me!

Re: WWYD? Car / bills / dog question

Re: WWYD? Car / bills / dog question

A Honda Element would be perfect for your dog.

Re: WWYD? Car / bills / dog question

I vote for the truck based on your senario.

Re: WWYD? Car / bills / dog question

I will preface this with the statement that I am a buyer, not a leaser.

For me, a car that is five years old with 90k on it still has at least a few good years left in it. From my perspective, if it's in decent shape overall, a used car will always be cheaper than a new car until it's really crapping out. You do have repairs, but they almost always cost less than a car payment and your insurance costs go down each year as well. If it's not a great car to begin with though, and you have lots of repairs, you'll get more for it now as a trade in or if you sell it than if you wait.

I also don't live that far from work and DH and I could probably work somthing out if my car had to be in the shop for something.

Re: WWYD? Car / bills / dog question

I am a firm believer in when a car hits over 50K, trade it in and get a new one. But note that I do buy my cars and it takes a while for me to hit 50K. I have an 06 Altima with only 25K on it. DH doesn't believe in that- which is why he still has a Dodge with over 100K miles. But, he's a mechanic so he can keep anything going.

I LOVE the CRV. My MIL has it and she LOVES her car. It's comfortable, nice. We actually went down to Myrtle Beach in it and it was great on gas and really nice.

I think that for your situation and the condition yor car is in now, def buy one. It's pros and cons. Yes, you will spend money per month but you will have a new car that isn't going to cost you a fortune to fix.

Message edited 7/27/2009 12:37:40 PM.

Re: WWYD? Car / bills / dog question

The CR-V also rates very high on Consumer Reports for reliability, which is something I definitely value. I just looked up my car - worst rating Consumer Reports gives out for the Drive system, Fuel system, Electrical and worse than average rating for Engine Cooling and Paint/Trim. I've had problems with almost all of them. Sigh.

This is what weighs on my conscience.

I think maybe I should start socking away a new car downpayment and go as far as we can with no repairs. And keep my eye out for financing deals. And maybe go to a Honda dealer just to take a look at the CR-V and drive it. That way if the car does break down, we'll be ready with a decision.

Anyone have a reputable salesperson at Nardy in St. James they want to recommend?

Thanks for your help, everyone!!

Message edited 7/27/2009 12:50:20 PM.

Re: WWYD? Car / bills / dog question

I'd get a new car.

Since you are already putting some money into your VW, why not just put that money towards a car payment.

I have the CR-V, 2002, not a hybrid. It is so roomy that we can fit 1 stroller and groceries in the back. So there would be plenty of room for a dog crate.

We had a similar issues with my nissan, so we just upgrated to avoid throwing more money into the old car.

GL

Re: WWYD? Car / bills / dog question

Message edited 7/27/2009 4:41:07 PM.

Re: WWYD? Car / bills / dog question

I would keep the car as long as possible. I too run my cars to the ground. My DH made me sell it for a new car when I was pregnant. At that point I had 180, 000 miles on it and was not paying a car note for 1 1/2. If you were paying $400/ mo and your repairs come out to be $300 every other month, you are still saving money vs. buying new.

Re: WWYD? Car / bills / dog question

Re: WWYD? Car / bills / dog question

My husband would keep it until the transmission goes.

I, however am a scaredycat & think that since his car is now 5 & 1/2 years old that is is going to break down on the middle of the Whitestone Bridge any day now, even though it only has 30-something thousand miles on it.

If you do get a new one, at least you aren't throwing out the old one. You would sell it or donate it, so you are recycling!

You may be perpetuating the production & transport of "stuff" but the auto industry needs you!

Even if it is a foreign car, the dealership is a local business.