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TopicKeep old car or buy new car?
IdiotMachine
07/14/18 11:01:54 AM
#1:


Keep or buy? - Results (0 votes)
Keep old car.
% (0 votes)
0
Buy new car.
% (0 votes)
0
Car:
2005 Hyundai Santa Fe with 110k miles on it. Main purpose = daily driver/beater car.

Condition:
I bought this car for $3,500 a couple years ago at 80k miles in mint exterior condition with fair mechanical condition. I spent around $2,000 in mechanical repairs bringing it back to good mechanical condition. In the past couple years, my wife hit a tree, so it has a huge freakin' dent and scratch all over the car (i.e. poor exterior condition).

Offer:
A dealer offered $1,200 for the car (KBB estimates ~$2,500 for private sale at "fair" condition), a major price hit because of the poor exterior condition (the estimate for "excellent" is at ~$2,000 and ~$4,500 respectively).

Dilemma:
The car is starting to have some ignition problems, but not consistent enough for the dealer to diagnose exactly what the problem is, thus no ballpark estimates on its fix. The car also soon needs major maintenance*, which may cost additional $1,500.

I don't think the car is worth spending ~$1,500+ to repair, only to sell it for ~$1,000 the year after. So we're both at a dilemma:
.....*Pay to repair/maintain the old car and hope it doesn't have more problems, or
.....*Sell it and just buy a newer car.

What does CE think?

*Major Maintenance Items Required Soon:
*Replace automatic transaxle fluid
*Replace engine coolant
*Replace spark plugs
*Replace timing belt (thus also replacing the water pump, tensioner, and pulleys)
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