Small Used Car Market Insane? Agree? Disagree?

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When I bought the '94 Prizm in 2003, I was doing 30K+ miles/year. My mileage the last three years has been about half. So in 7 years, I've put 144K+ (whatever I put on in the next two weeks to make it a complete 7 years)

So that's over 20K miles/year. That rate will probably drop.

So what was the tally of the work my indy mechanic did?

Fuel Filter
Rear Struts
Driver Side Axle
Inspection, compression test, oil pressure test, test drive to see if clutch was faulty.
Four wheel alignment.
Four plugs, he replaced the plugs after the compression test.

I paid $515.72 for all of that. Oh, they mounted three tires for the teen's Camry, so figure under $500 for all of that.

I just spent another $165.11 on two new tires.

So hopefully for $680.83 I'll get another year of trouble free driving.

The ticket at Sams Club indicated 244520 miles on the ticker when the rotated the front tires to the rear and put two new tires on the front.

I replaced the just broken drivers outside door latch before I took the car in. That was $15 off of e-bay for the replacement, so figure I'm about $700 in for a car that now has newish axles, mostly new tires, newish front struts and new rear struts, the A/C works, etc.

I really don't think I could have gotten a much better car for 4 to 5x what I just spent in the past two weeks on her.

What did all of these purchases do to my cost of ownership?
TCO=$19064.68 or $0.132/mile since 4/12/2003
 
Price is price but there is also value.

There is intangible value in owning a luxury car, or even a full size vehicle versus econobox.

There is also the intangible price you pay by having a higher risk of getting injured in an accident. An econobox vs. an SUV = means trouble for the econobox.

My daily driver is a V8 but I got it cheap. Even with the highest cost of fueling it, I am spending less than Toyota Corolla owners, or a similar amount in the worst case. And arguably getting more safety/comfort/practicality. YMMV however.
 
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The value I find, even with a 16 year old econo box is it's been the most reliable car I've owned.

Prior to that, it was mostly GM, the last being a Buick LeSabre.

In an attempt to compare apples to apples, I'll only consider Fuel and Maintenance and Repair for my previous beater, the Buick LeSabre compared to the Geo Prizm.

Over the course of the last 45600 miles of the LeSaber, basically 84K miles to 130K miles when I sold it, I spent 6,511.43 to drive that distance or about $0.142/mile.

Of that, 61.3% was maintenance and repairs and 38.6% (rounding errors) was fuel.

So from the fuel perspective, not too much difference.

So over 45,595 miles I spent $3991.51 on maintenance and repair and 2519.92 on fuel.

Let's look at only fuel and M&R on the Geo over it's current life. A total of 14756.47 was spent on fuel and M&R over the course of 143554 miles driven since 4/12/2003. That's $0.103/mile in fuel and M&R, or about 28% less per mile.

What is astounding is the flip in the percentages.

With the Buick, M&R was 61.3% of the total costs, while with the Geo Prizm, M&R is only 32.9%

The numbers back up my perspective, that the Geo is far more reliable than the Buick.

That's where I find the value. Not only is it far less costly to operate, it's more reliable than other used cars I've owned.

The Buick and the Geo have similar prior histories. The Buick was a one owner car, well maintained, because I bought it from my grandmother when she got her new Grand Marquis. She had it serviced regularly, by the Buick dealer. The Prizm was a one owner car, with the complete service history provided when I purchased the car, dealer and indy mechanic maintained.

The Buick did have the advantage that when I got it, it had 50K miles on the clock. However, I did not start tracking detailed expenses until 84K on the clock. The Prizm was purchased with 106K on the clock.

I've driven small cars my whole life. I've owned ONE V8 powered car. I think I've owned as many 4 cylinder cars as 6 cylinder, but I've not set out to count them. So after probably over 500K miles of driving under my belt, I don't fear driving the small car. There is always something bigger than me on the road, so I have to be diligent regardless what I'm driving.
 
The other thing to keep in mind is that fuel was lot cheaper for the Buick.

The average gas price was $1.276 for the Buick, using 1973.81 gallons over the 45595 miles.

The Prizm has used 4586.39 gallons costing $9894.57 or about $2.157. The price of gasoline for the Prizm is almost double that of the Buick.

If gasoline is set at a fixed price for both, the higher cost of M&R for the Buick is even more obvious.
 
Good summary! Its interesting to see the differences in maintenance costs between the two cars. Backs up my gut feeling and experience that going to a V engine configuration, automatic trans, and more complicated car seems to just cost alot more for some reason.
 
Originally Posted By: javacontour

If gasoline is set at a fixed price for both, the higher cost of M&R for the Buick is even more obvious.


Problem is, nothing is fixed. In the above example you provide, looks like you cherry-picked data to prove a certain point. You make a [censored] of a lot of assumptions, you can highlight or not examine a certain aspect, for example:

City driving or highway?

Single driver or many passengers? Or cargo?

How many miles driven per year.

Once again, the safety aspect is completely overlooked. A Geo Prizm (Toyota Corolla) is not cheaper to operate than V8 Buick Roadmaster if you weight the safety factor in your equation. Even if you never got in a collision, you risked getting injured in one more than you did in a bigger, V8 car or an SUV (gov-provided data).

The fewer miles one's drives, the less appealing the econoboxes of this world become. I was out of work in the recession of 2001-2003 and lived in a rural area. Had a V8 Caprice wagon and tried to save gas by going shopping once every 2 weeks. Otherwise did not use the car. So how important was it to me if I got 20MPG or 40MPG?

Even 10K miles per year does not even come close to realizing gas savings in cheap econoboxes. Simply put, get a 6K Toyota Camry or Corola and it's never cheaper than say a Buick V6. You just don't get to the point where you investment is paid off unless you drive *a lot* say 40K year. Even even that discounting all else, safety, passengers, cargo room.

Then you have to consider your geographic area. 4WD might or might not be a good investment.

Then you have to consider how much the parts + labor cost and if DIY is a part of the equation. For me, it is. For others, it is not. Right now I have a BMW and a Buick. The former is a total "money pit" with arguably marginally better performance, handling, brakes and maneuverability. That might - or might not make a difference to others. I fix it by DIY so my cost per mine for the BMW is much lower than for others.

So the only thing the above proves is that *some* aspects of Toyota Corolla are cheaper than *some* aspects of a bigger Buick. Which of course is self-evident.
 
I didn't cherry pick the data. I used the data I had which was Fuel, Maintenance and Repair only for the Buick, so to compare apples to apples, I only looked at the same type of data.

It wouldn't be fair to count purchase, insurance and license for the Geo if I didn't have the same data for the Buick.

Perhaps you mis-understood when I said keeping the price of the fuel the same.

If the Buick was owned at a time when fuel was $X/gallon, and the Prizm when the fuel was $2X/gallon, then it makes sense to norm the price per gallon since there has been such a drastic change in fuel prices from 2001 to today.

Questions about how the cars were driven are valid questions. Both cars were used as my work car for my current job. The Buick got MORE urban highway miles compared to the Prizm over the time I owned it. So it probably had an easier life, compared to the Prizm. It put the 75-80K miles on the Buick over the course of three years of ownership.

I put 2X that many miles on the Prizm in 7 years of ownership. So one can see that the Buick accumulated miles at a greater rate, meaning more highway, less stop and go traffic.

I've lived in the same metro area since 1992, so my driving patterns haven't changed much in the past 18 years.

So given the same driving patterns, the same passenger count, me, and carrying the same parts, same tools to the same customers, the Geo Prizm requires less maintenance, compared to the Buick LeSabre, period.

That even considers TWO timing belt changes on the Prizm, but leaves out the first year of repairs on the Buick. (Multiple A/C problems, and a set of times needed in the first year, not counted in the costs.)

I think it's pretty obvious that I'm in touch with what I'm spending on my cars. Some would call it an obsession. You'll simply have to trust me that leaving out the first year is neutral at best, and likely makes the Buick look better than it really was.

I simply didn't have the application I used to track data until about a year into my ownership of the Buick.

Same owner means that the same distribution of self care and mechanic care has been used.

What kills it for the Buick are three problem areas:

1. The A/C, not only where there A/C repairs before I started counting, but there were at least two more A/C repair events after.

2. The automatic transmission lunched itself at 90K miles.

3. The timing gear/timing chain disintegrated, requiring an expensive repair to replace the gears and chain.

What does the repair history for the Prizm look like:

1. Exhaust manifold
2. A/C clutch and Harmonic balancer
3. Two axles
4. Water pump

Everything else has been scheduled maintenance, including the two timing belt changes. I actually should have changed the water pump on the last TB change, but was talked out of it by my mechanic, so that's stacked against the Prizm.

Both vehicles include costs for oil changes, tune up parts, tires, belts, hoses, filters, light bulbs, etc.

The Buick simply required more repairs compared to the Prizm that now has roughly twice the mileage the Buick did when I sold it.

I'm not saying a 1994 Geo Prizm is the choice for everyone. But in my case, it was a far better choice than the car it replaced, the 1987 Buick LeSabre.

I've tried to provide an apples to apples comparison.

Same owner.
Same usage pattern.
Same distribution of maintenance for both vehicles.

What isn't the same?

Build date of the vehicles.
Size of the vehicles.
Period of ownership.

In my experience, the Buick was more costly to own. I didn't save with a car that got 2/3rds the fuel economy of the Prizm. Since the others costs of ownership were also higher, there was no savings realized with the Buick compared to the Prizm.

Now there are cases where the Buick would win. Compare the Buick to a new car, it wins. Buy a 100K mile Buick and run it to 200K, even with the costs/mile I experienced with the Buick over that period, and a new car that needs no repairs over a 200K lifespan (unlikely) and you'll still come out money ahead in the Buick.

So I'm not arguing against the economic wisdom of the beater. I totally get it, since I use beaters to put tons of miles on a car for the lowest possible cost.

But some cars do better as beaters. It's been my experience with two Toyotas with over 200K miles and few repairs, that they typically, (but not always) give their owners fewer problems.

I haven't even begun to tell the story of my wife's Camry. Why? I don't have all the data.

But here is what I can tell you. Number of repairs in 215K miles, TWO. Both the same thing. A torn CV boot at 100K miles. Had it rebooted and then the axle failed at 175K miles.

That's it.

No timing belts on this ride either. Just change the oil every 5K miles, rotate the tires, put gas in it and it just goes.

But I can't quantify that, so I don't compare numbers with other cars. It probably won't win anyway, since it was purchased brand new in 2002.
 
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I ran the numbers, the math doesn't add up. Econoboxes aren't that cheap and don't save you any tokens.


There was a time when ROI (per se~) wasn't a mandate for a desired outcome. It was merely an ante to allow the desired status to be achieved.

For example, in simpler times, one may not buy a multi-unit home for ROI and "growth" in personal wealth, you might buy it for paying taxes and utilities when you aged. Those were times before the easy home equity quench and purge style of personal finance and (at times) limited availability of mortgage money.
 
The data you show, is inconclusive and incomplete. Re: Toyota Corola vs. Buick. There was a gov report that said that driver's of smaller cars don't do well in collisions vs. bigger SUVs.

So the price you pay for driving a compact is this increased risk. This fuel savings don't come free and may not come cheap. You have to give up something for it. And it's not just an intangible abstraction, per 100,000 drivers's I am sure you can quantify this in terms of finances. Maybe not a significant number but not good if you lose that lottery. A bigger car with similar safety features is safer.

If you compare just the fuel savings for both cars, of course a Geo Metro will come out ahead versus a Buick with V6. Problem is, total ownership cost encompasses more than just fuel cost and even more than repairs cost. Again, you cherry picked the data to prove a point, but you can examine any number of data to prove any point.

Now as to the subject of this thread, given the times, the compact cars have risen to unreasonable values that don't make them bargains anymore. Simply put, there are no savings to be realized in an way. People here go crazy over Honda Civic, Toyota Corola, Subarus and IMO pay unreasonable prices for 10 year old cars. Of course, that's free market for you.

I got a V8 Chevrolet for 1/3 the price of a Corolla. I expect to pay more for gas but less for repairs. Parts are cheaper, and I can install them via DIY, an impossiblity with many transverse-engine compacts. And get more out of it, the price tag gets me more "stuff", bigger cargo space,more passenger room and better safety.

So yes, older Buicks, V8 Fords and many domestics are an absolute bargain right now. You pay less and get more. Even with somewhat lower MPG, I would rather drive a Buick Park Avenue vs. Toyota Corola or Camry. The MPG is not that much lower. LeSabre/Park Avenue can get high 20's vs mid 30's for Corolla. Impressive for such a big and fast car.

I think the point of this thread is that compacts, while they have their place, are overpriced at this point. (I would get one, but not at thse prices) There are ways to save money or get frugal transportation other than compact cars.
 
The data doesn't support your assertion that the M&R for a Corolla/Geo Prizm is more than that of the Buick.

A transverse V6 in the Buick was far harder to work on the than the transverse I4 in the Corolla. I know, I worked on both.

Go back and look at the numbers. When you look at the percentage of costs, with the Buick, the maintenance was a greater percentage of the operating costs. So where is the savings in cheaper parts, cheaper labor, etc?

The data doesn't support your assertion.

You keep saying it will cost you less because you do the work. Fine, so then, based on my data, the Corolla will be even less than that. Why? A lower frequency of repairs.

Regarding safety, in my case the Corolla/Prizm was a step up in safety. The Buick had NO air bags, the Prizm had driver and passenger air bags.

Mass helps, I realize that. However, I don't believe the odds are that great against me. Besides, when it's my time to go, I suspect I'll be going regardless what I'm driving. I tend to believe that when my number is up, there is nothing I can do to stop that. It doesn't matter what car I own, etc. If it's time to check out, I'll be going even if I was riding around in an M1 tank.

Since I already own the small car, it makes sense to keep it. Why? Because it's proven it's inexpensive, reliable transportation that meets or exceeds my needs as it has done over the past approximately 144K miles.

Buying anything else, a Buick, a panther platform for, even another Corolla based vehicle is a [censored] shoot.

I'll go with what I know, and I know the Prizm is still running, and is even better with the new axle, rear struts, and a couple of new tires.
 
This is why I say you cherry-picked the data, you compare one specific Buick to one specific Corolla.

It sounds like you arrived at a conclusion and then picking the data that supports your pre-determined conclusion. With this method, you can justify anything over anything. It doesn't matter what anyone says or what data comes up, you already made up your mind. Good for you, I suppose.

The key point here is that MPG is a relatively insignificant factor in the overall mantainance costs.

Toyota = lower frequency of repairs, where do you get that idea from? Your limited experience with sample size n=1? Even the "frequency" by itself doesn't mean anything, how about the severity?

The 5th and 6th generation Camrys and other Toyota cars with the 2.4L engine are developing this serious issue with engine head gaskets leaking, often resulting in catastrophic engine failure. As the 2002+ cars are getting to 100K miles and beyond, this is happening en masse, here is just one sample, but you can browse the web and Toyota forums for plenty of evidence. It's not frequent but common and catastrophic and extremely expensive. I sold my Camry without waiting for this to hit the fan and end up with a 6K repair bill for replacement engine.

http://www.tundrasolutions.com/forums/camry/148454-camry-with-stripped-head-bolts/

Quote:

I am a service center owner and technician of over 40 years in SC. Recently, a 2003 Camry LE w/ 70,000 miles came into my shop with a coolant leak. I consulted this forum and others to find proof of the same instance in the Toyota Camry. I write this in response to some posts I read on this site. This is to be informative for those in similar situations.

To do the exam, we pressurized the cooling system and put the car up on the lift. We immediately noticed coolant leaking from underneath the plastic INT intake Manifold in the rear of the engine. I also noticed a Large piece of foam rubber between the Intake Manifold and the Engine Block and Head. This was blocking our view of the leak. We could only see that the leak was behind the foam piece. The only option to discover the source of this leak was to remove the plastic intake manifold, which I did. After this was removed, it became obvious that coolant had been leaking a minor amount for quite some time due to build up between the cylinder head and block.

The only option left is to remove the head, which requires an exstensive disassembly (R and R cylinder head). After Loosening the bolts in sequence, I notice the head bolts in the back of the engine are loose. From my experience in the field, I can confidently conclude that this only means one of two things: The bolts were left loose at the factory, or the Bolts are stripped. ( I commonly have seen stripped bolts in the Aluminum Cadillac North Star Block discovered through leaking coolant.)

Next, I removed the head and sure enough, one bolt came out with aluminum in the thread...thus indicating a stripped bolt.

MY THEORY: The placement of the (insulation) foam rubber piece between the Intake Manifold and the engine block created an uneven dispersion of heat, creating "metal fatigue" in the aluminum block allowing the headbolt to strip.

If Toyota had out an Aluminum Manifold instead of Plastic, there would have been no need to insulate (w/ foam piece), thus eliminating the probem.

The only solution to this problem is to unforunately replace the engine. The cost to repair it otherwise would be substantial. This is an engine defect and we WILL be seeing more of this.





In my experience, full size GM cars, specifically the B-body platform but also the LeSabre/Park Avenue line, is by far more reliable than cheaper GM cars or import econoboxes, and cost far less to maintain, purchase price include, all things considered. Econoboxes are far overrated and overpriced.
 
Originally Posted By: pacem
This is why I say you cherry-picked the data, you compare one specific Buick to one specific Corolla.

It sounds like you arrived at a conclusion and then picking the data that supports your pre-determined conclusion. With this method, you can justify anything over anything. It doesn't matter what anyone says or what data comes up, you already made up your mind. Good for you, I suppose.



Apparently you are not paying attention. I didn't cherry pick the data. I had experiences with both cars, and I shared my data and the conclusions argued.

Now if you want to argue that what I present is anecdotal, then fine, I would agree. But then one would have to say the same about what you suggest.

You've presented ZERO facts and figures. I've presented my data. What data do you have to back up your assertion?

Originally Posted By: pacem



The key point here is that MPG is a relatively insignificant factor in the overall mantainance costs.



With that I agree. Until you get into the beater realm, the costs of fuel is a small part of the total costs of driving a car.

Now when you are talking about 1000-$3000 beaters, then fuel begins to be more than just a small cost. Even with my $2500 Prizm, fuel is only about 50% of my total costs, and about 66% if one is just looking at fuel and M&R since that's the only data I kept for the Buick.
Originally Posted By: pacem


Toyota = lower frequency of repairs, where do you get that idea from? Your limited experience with sample size n=1? Even the "frequency" by itself doesn't mean anything, how about the severity?



Show me your data. I agree, my sample size is small. Yet you've repeated put out the unsupported assertion that you can operate a V8 rear wheel drive car cheaper than my Prizm.

The data I have doesn't support that. If you would like to present real life data from your years of driving, then I'm willing to look at the data. The severity is noted in the costs. Remember, in my experience, the Buick needed a transmission overhaul (pretty severe) and the timing set replaced on the engine (still severe, but less than the transmission)

The bottom line is the Buick left me stranded at least twice in the 80K miles I owned it. The Prizm has not done the same. There has never been a day I've owned it where I couldn't drive it.

There were days when I drove it to the shop. But it never arrived on the back of a tow truck. So I think that speaks for my experience with severity, etc.

However, you present nothing more than speculation from what I've seen so far.
Originally Posted By: pacem


The 5th and 6th generation Camrys and other Toyota cars with the 2.4L engine are developing this serious issue with engine head gaskets leaking, often resulting in catastrophic engine failure. As the 2002+ cars are getting to 100K miles and beyond, this is happening en masse, here is just one sample, but you can browse the web and Toyota forums for plenty of evidence. It's not frequent but common and catastrophic and extremely expensive. I sold my Camry without waiting for this to hit the fan and end up with a 6K repair bill for replacement engine.

http://www.tundrasolutions.com/forums/camry/148454-camry-with-stripped-head-bolts/

Quote:

I am a service center owner and technician of over 40 years in SC. Recently, a 2003 Camry LE w/ 70,000 miles came into my shop with a coolant leak. I consulted this forum and others to find proof of the same instance in the Toyota Camry. I write this in response to some posts I read on this site. This is to be informative for those in similar situations.

To do the exam, we pressurized the cooling system and put the car up on the lift. We immediately noticed coolant leaking from underneath the plastic INT intake Manifold in the rear of the engine. I also noticed a Large piece of foam rubber between the Intake Manifold and the Engine Block and Head. This was blocking our view of the leak. We could only see that the leak was behind the foam piece. The only option to discover the source of this leak was to remove the plastic intake manifold, which I did. After this was removed, it became obvious that coolant had been leaking a minor amount for quite some time due to build up between the cylinder head and block.

The only option left is to remove the head, which requires an exstensive disassembly (R and R cylinder head). After Loosening the bolts in sequence, I notice the head bolts in the back of the engine are loose. From my experience in the field, I can confidently conclude that this only means one of two things: The bolts were left loose at the factory, or the Bolts are stripped. ( I commonly have seen stripped bolts in the Aluminum Cadillac North Star Block discovered through leaking coolant.)

Next, I removed the head and sure enough, one bolt came out with aluminum in the thread...thus indicating a stripped bolt.

MY THEORY: The placement of the (insulation) foam rubber piece between the Intake Manifold and the engine block created an uneven dispersion of heat, creating "metal fatigue" in the aluminum block allowing the headbolt to strip.

If Toyota had out an Aluminum Manifold instead of Plastic, there would have been no need to insulate (w/ foam piece), thus eliminating the probem.

The only solution to this problem is to unforunately replace the engine. The cost to repair it otherwise would be substantial. This is an engine defect and we WILL be seeing more of this.





In my experience, full size GM cars, specifically the B-body platform but also the LeSabre/Park Avenue line, is by far more reliable than cheaper GM cars or import econoboxes, and cost far less to maintain, purchase price include, all things considered. Econoboxes are far overrated and overpriced.



So show me your data. You cite ONE story from ONE tech, but you critique me on actually tracking my frequency of repairs and their associated costs?

I guess I have the odd 2002 Camry that is at 215k miles on that 2.4L engine, and no head gasket problems. Actually, as I've noted, the only problem with that car has been one axle.

If I liked driving a car with an automatic, it would serve me well to get one of those with 100K miles on it and drive it into the ground.

I must be the lucky one, as I've owned the only Buick 3.8L V6 to destroy both it's timing set and it's automatic transmission.

Look, don't buy a Corolla or a Prizm if you don't like them. But don't tell me that my experience is not real. I've been driving for close to 30 years now, and my experience is night and day with the cars I've owned the past 7 years compared to the first 20+ years of buying what you suggest is the cheaper way to go.

So far, my data doesn't support your assertion.
 
I getting ready to put my weekend car up for sale & replace it with an old ('94-'97) Honda Del Sol.
Considering that the Del Sol was not a high-volume seller, there sure are a lot around at reasonable prices. (( hint hint ))
It's a 2 seater "convertible/hard-top" for those who don't know the car.
 
Due to this and other factors we stopped looking for a used car and went new. As much as I don't want to pay a month it seems for reliable transportation for her and the little luxury she wants it is the best deal. She makes more than me so I can't say no LOL

The market is craap...either get low miles at some insane price or high/beat to death miles and an even more insane price.
 
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