At what point do you get a new car?

[fdcg27]

It's all a matter of what you want and what you want to spend.
You have a long paid for car that owes you nothing (and is worth about the same) at ten years and 136K.
As long as it remains reliable enough for your use, there is no pressing need to replace it.
There is a lot of nonsense in this thread about buying new versus buying used versus keeping a beater and leaving the good car in the garage.
Cars are made to be driven. There is no other reason to have one. Never own a car that you're afraid to daily drive unless you have a whole lot more money than I suspect anyone here has.
New cars can be a great deal in that you get the first 120K trouble free miles as a part of the deal.
There are some really good buys on new cars ATM, but then there usually are. There is also readily available cheap or free financing, which is a sign that we've returned to the era of easy credit that caused so much trouble almost a decade ago.
Do what you think best, but were I you, I'd be in no rush to replace this old Cobalt.
It should do you just fine for the next few years while you look for a deal on a car that you'd like to replace it with.
Cars are ultimately no more nor less than transportation appliances, some of which are more reliable and more entertaining in use than others.

 

[Mr Nice]

Maybe keep the Cobalt for a few more years since you babied it.

Max out retirement contributions with the money not spent on new car.

 

[grampi]

Depends on which vehicle we're talking about. The wife's van is the family vehicle and is used mainly for her to drive back and forth to work (1 mile each way), and mostly local area driving, so it would be replaced with somewhere around 100K to 150K miles due to age and being rusted out. My Corolla sees 2500 to 3K a month, almost all highway miles, and I will drive it until something major in the driveline goes out...it has 315K on it right now...

 

[jeepman3071]

Here it seems to be when they are too rusty to save.

I find that it also depends on how a car was maintained.

Take these two Civics for example:

My sister has a 2005 Civic with 230k miles on it. My friend's mom has a 2007 Civic with about 215k miles on it. The 2007 feels much tighter and drives well, since it has been maintained. The 2005 was religiously maintained and drove great up until about 2 years ago when my sister moved 3 hours away. Last time I saw it, the car was falling apart since it reached that critical period of when things can be replaced to keep it going, or neglected. She has neglected it, and it's condition has gotten exponentially worse.

If older cars are maintained, they can hold up well.

 

[zzyzzx]

Last time I got rid of a car, which as in 1995, it needed a new engine, and the transmission (which was rebuilt) has the same number of miles that the original engine lasted. Otherwise fine. If that were to happen today I am not sire what I would do since I potentially could rebuild the engine myself.

 

[PandaBear]

I get a new car when I need a different car than what I already have.

Like a van to haul work related stuff, home improvement stuff for a few rental properties, etc, and a PriusV to replace a coupe when I have a 2nd kid.

So far I've only scrap a 93 Escort because CARB pays me $1k to save the air from its pollution, way above how much it was worth (bouncy struts, bad AC, worn out interior, peeling paint, and known valve seats problem in this design).

In the rust belt I'd scrap and get a used car from non-rust area when it starts being dangerous.

 

[HangFire]

At what point do I get a new car?
When the frame rusts through.
When the engine dies.
When the transmission dies.
When my wife says she wants a new car.

 

[LoneRanger]

Originally Posted By: oilpsi2high


2007 Cobalt SS Supercharged Coupe. Brakes, wheel bearings, shocks and struts, bushings, timing chain tensioner, etc.

I think it needs a new belt tensioner (squeaks on startup), and has a front end rattle that is either the steering intermediate shaft or swaybar bushings. Other than that it has been dead reliable. I'm thinking new snow tires for winter and just continue driving it until it completely dies.

I have records for every service performed since day 1. Drained the factory fill at 2396 miles! Always used Mobil 1 5w30 and either AC Delco or Napa Gold oil filters. GM fluids in the trans changed every 30k.


I would definitely keep it longer.

Myself, I just can't get excited enough about any particular new car, truck, or suv to cause me to get out of my Subaru which this October I'll have had for nine years (drove it home Oct 4, 2008). Like you I've meticulously maintained the car doing the things the manual says to do but most average drivers don't ever have done like brake fluid flush, coolant flush, differential oil change (front and rear axles), etc. Has less than 70,000 miles and lot of service life left in it.

 

[oilpsi2high]

Some good stories in here, thanks for the encouragement!

A recent pic:

 

[Leo99]

My wife says she'll get a new car and get rid of the Rav4 when it needs over $150 in repairs or she loses faith in it.

That's a nice looking car. I'd keep it and only sell it if I could get a good price for it.

 

[dareo]

I got new cars for better safety ratings mostly. We could have driven our ALH tdi jettas pretty much forever with some upkeep. I know its a long shot but perhaps the newer car will save my life in a scenario where the old one may not. Continued living is something i quite enjoy.

 

[fdcg27]

Awesome!
This coupe was by far the best shape for this car.
A really cute little car in a good color for it.
Keep her.

 

[ndfergy]

Congrats, your car looks well maintained.

COB is much less now compared to when I purchased my first new car - 15% APR IIRC - so I'll move the goalpost to a 4 year term financing instead of the 3 year rule at the time. That rule is you should budget a purchase leaving you roughly no less than 25% discretionary income. Extending a loan for a longer term for that dream purchase only lessens your ability to maximize long term savings during purchase gaps. If that fits go ahead and buy that new car. If not, keep your current car for a few more years until you've saved enough. Bear in mind your vehicle's present value vs it's future PV and the difference you can save up in that period.

For reference, below is your wholesale and retail value here in Canada (not bad). In the States I believe retail is KBB.

 

[Panzerman]

I think everyone has a different situation you just have to find what fits for you.
Mine is buy a new car and run it for 10-15 years or till it gives me problems. The longer I drive it the less my cost per year. That wasn't always my philosophy though and it's changed several times thought my life to fit my life.

 

[grampi]

Originally Posted By: Leo99
My wife says she'll get a new car and get rid of the Rav4 when it needs over $150 in repairs or she loses faith in it.


So if she has to replace one tire, she will get a new vehicle? It doesn't take much to generate a $150 repair...

 

[exranger06]

Originally Posted By: grampi
Originally Posted By: Leo99
My wife says she'll get a new car and get rid of the Rav4 when it needs over $150 in repairs or she loses faith in it.


So if she has to replace one tire, she will get a new vehicle? It doesn't take much to generate a $150 repair...

I was going to say the same thing. Did you mean to add another zero to that number? Only the most minor, insignificant repair would cost less than $150 at a shop.

 

[Neely97]

I replace ours about between 7 and 10 years.

 

[mightymousetech]

Going to keep driving my 1er forever. The newer BMW have gone down hill.

Quote:
But there's a bigger point here. The 1-series is the last car that BMW engineered before the Germans, as a car-making culture, fell out of love with driving.
R&T April 2013.

 

[d00df00d]

Originally Posted By: mightymousetech
Going to keep driving my 1er forever. The newer BMW have gone down hill.

Quote:
But there's a bigger point here. The 1-series is the last car that BMW engineered before the Germans, as a car-making culture, fell out of love with driving.
R&T April 2013.

Couldn't agree more. The new ones have upped the ante in terms of performance but taken a massive nosedive in terms of engagement and fun. They are numb and boring in ways that are utterly inexcusable for this brand. The E82 1-Series was BMW's last truly great driver's car.

 

[jeepman3071]

Originally Posted By: mightymousetech
Going to keep driving my 1er forever. The newer BMW have gone down hill.

Quote:
But there's a bigger point here. The 1-series is the last car that BMW engineered before the Germans, as a car-making culture, fell out of love with driving.
R&T April 2013.


I agree. I've had a decent amount of seat time in my GF's E90 and a few different E46's. Driving an F30 340i felt like a fast Camry in comparison. A nice car for sure, but just not the same feel.

Then again, someone could argue an E30 has more driver feel than the E46 and E90, but I feel the E90 is a good balance of sport and comfort.