WWYD: NH&FR (car related)

[sadlebred]

My car needs $1900 in work to pass the Georgia emissions test. Without passing emissions, I can't renew my tag in 3 weeks. Add this onto the $1300 I just spent in regular maintenance for it within the last month. It's a Honda CRV with 200,000 miles on it. Since it's a Honda, I planned to get at least 250,000 or more out of it (roughly 2 years). A new CRV is $25,000+ or roughly $400/month for the next 60 months with the money I'd put down. My car is worth about $6000 for trade in according to Edmunds and Kelly Blue Book. I figure $1900=less than 5 months of car payments. I'd still come out ahead within a year. Assume that you would not touch your down payment money to make the car repair.

This it the ONLY thing that it needs according to the dealership and an independent mechanic.

Would you:

1. Suck it up and get it repaired? $1900 isn't that much.
2. Buy a new car and not worry about repairs for a few years?
3. Cry. Just cry. Nothing else.

[shauni27]

Probably 1 and 3 together. I am sorry you have to deal with this, I HATE car problems. Ugh.

[shelbyann]

How old is the car? I think I'd be pretty hesitant to put 2K into a car that has 200K miles, even a Honda/Toyota.

[sadlebred]

2004

[jene]

2

[Susie]

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

[Brit]

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

All of this. [Says the girl who's H drives a 1996 Acura because it was free to us. Precisely because of Susie's reasoning, we have not been able to justify replacing it.]

[lb2006]

Aug 7, 2013 10:58:54 GMT -5 Brit said:

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

All of this. [Says the girl who's H drives a 1996 Acura because it was free to us. Precisely because of Susie's reasoning, we have not been able to justify replacing it.]

Ditto {says the girl w/ a 99 honda accord with 286,000(!!!!) miles on it & driving it until it dies}

[thom]

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

Yeah, I agree with all this. (Unless there is some other pressing reason you may need/want a new vehicle.) It sounds like you out on a lot of miles, so in a few years your new car would already have a ton of mileage & likely need some work, tires, or just maintenance, etc. I vote to spend the $1900.

[ebeth]

I'd get a new to me car.

this sounds like the story of how me and my 1995 nissan altima ultimately parted ways. did a couple somewhat expensive repairs and then it didn't pass emissions. but it was going to be a ridic amount of money to make the repairs to get it to pass emissions. and even then you're kind of on borrowed time with 10 year old car anyway. and so, I had to release the altima.

I've bought a car in one weekend. it can be done. esp becaue you know what you want. You can start emailing delearships and shopping around now. they'll give you prices via interwebz. you don't even have to walk into the dealership.

[boston340]

I would go with Option 1 if you think doing so will "buy" you 50,000 more miles on teh car. Car decisions are so tough sometimes! We have a 2004 Honda but only have 99K miles on it. I'm hoping for 200-250K.

[hannahb]

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

Agree with this!

[hannahb]

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

Agree with this!

[gt7301b]

Team new car. I've spent $1,500 on my car this year and it needs another $1,000 worth of work. I think I can keep putting oil in until it fully dies or I get a new car. I thought it wasn't going to make it through the summer, but done of the issues appear to have been heat related. My car is a 2000 and has been reliable, but I am at the point where I just don't want to keep dealing with repairs.

[blndsnbrdr]

I'd buy a new one...and still cry a little bit. Especially if the new car is an improvement.

If you put $1900 into the car to pass emissions the previous $1300 isn't a sunk cost, but at the moment your current car is at least worth something. I'm a big believer in moving onto a new car before your current one has completely died.

Besides, new cars a fun!

[trigal]

Aug 7, 2013 10:40:10 GMT -5 Susie said:

If the car has generally been reliable for you (which I assume is the case), I would put the $1900 into it and cry into my beer about what an un-fun way to spend almost $2k that is.

Couple reasons:
- I wouldn't want to have a 3 week time table to shop for a new car.
- Putting $1900 in will allow you to get the benefit of the $1300 you already put in (which otherwise goes down the drain).
- If these repairs get you through 5 months (good odds?), you will come out ahead vs. having a $400 car payment for that time.

IMO the KBB value of a car is a red herring in this kind of situation because the car is worth more to you running down the road than the trade in value, in cheaper insurance, virtually no depreciation, no transaction costs, etc., etc.

I'm with Susie on this!  If the car is worth $6K now, then it will not be worth much less in a couple of years.  The $1900 will buy you the next two years worth of driving and you'll still trade it in for $6K or so.

However, I will also add that if you are going to fix the car and keep it, start researching new cars now.  Sounds like you want another CRV, but shop around.  You may find something else (new or pre-owned) and you want to be ready!

[sadlebred]

I decided to get it fixed. It made the most sense for now. I'll probably start thinking about a new CRV in Jan. 2015. The $$ is worth it getting me another 18 months with the car. I still come out ahead.

[joenali]

How could it be worth $6000 if it can't pass the emissions test??

I would ask a dealership what the trade in value would be, and not rely too heavily on the KBB.