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My ten year old car needs $8,000 in repairs. It’s worth about $5,500. I’m thinking not worth more investment.
So, do I pay cash, loan or lease?
Take a deal on a loaner with 6,100 miles or go for something new?
Have to decide in four days. HELP😩
This might not help much now but could be very helpful in the future for anyone watching, but Consumer Reports Magazine frequently reports ratings for new and used vehicles, warts and good points. Quality, reliability and comfort and customer feedback is abundant. Worth every Penney of the approximate $30 annual subscription. Biggest problem with car ratings with automobile ratings is that with so many the quality and dependability varies significantly between makes and models in spans of 1-5 years among same makes and models as it does different makes and models. Sadly, most (not all) makes suffer from inconsistent reliability. Over a decade, some makes have a reliability rating that reads like a roller coaster ! Some makes like Chrysler and Jeep have spent time in the “basement” I own a 2003 Lincoln Town Car and rented a 2022 or 2023 Chrysler 300 I think, for two days. Rode like a wagon with steel wheels, a seat with next to no cushioning, suspension that complained about every expansion joint on the Freeway and potholes that were minimal on the average, even on the Freeway were “startling”! I was so glad to get my Lincoln back. Much, much quieter and expansion joints and potholes hardly noticeable. Drove a friend’s 2010 Chrysler in 2010, I think. Chrysler didn’t learn anything in 12 or 13 years it appears. I think most automobile manufacturers are deliberately making cars harder to work on to force buyers into the “dealer” trap and squeeze out independent shops. There is no reason for vehicles to be so difficult to work on. It is forcing the issue of “Planned Obsolescence”! And the more people that ignore that fact the worse it’s going to get !
A few decades ago when it came time to get a new vehicle, I asked my independent mechanic for a suggestion as he worked on all brands of vehicles. His #1 choice was Toyota. After he passed away I found another independent mechanic and he and his employees all preferred Toyota. We’ve had 6 Toyota’s in the family ever since the first one. I would consider another brand, but I need to know more about the reliability, and maintenance costs can be a big deterrent.
I’d recommend a reputable auction. I use Musser Brothers (I have no affiliation or kickbacks or skin in them) and have been pretty happy. I just bought a used car for $4600 and it runs great. Donate your $5500 to charity and use the write-off to help subsidize a portion of a new used vehicle from a reputable auction house. Be smart on bidding but there are good deals to be had if you are a bit patient.
Came back to see what you did. Have a great trip, Dick and Connie. Chris.
I bought another Mercedes that was a loaner with 6100 miles, almost full warranty. Paid cash. I just can’t bring myself to carry any debt or payments. Problem now is the car has so much technology it’s going to take me months to figure it all out, if ever.
Between the ambient light to calm you and the seats that gently move as you drive to keep you from being stiff, it will be a challenge to stay awake.
I don’t know a whole lot about Mercedes and their various models, but do recall reading that your father was a salesman for that brand. Sometimes I envy those that have a Mercedes and can afford the maintenance. Could you share on HD what are your favorite top 5 or 10 things you like about Mercedes and also which models you favor? You never know, it could motivate someone to buy a Mercedes.
Oh, give us an update on the vehicle differences with the newer car vs your old one while you’re on the road trip. The technology I can understand. I’m still learning on our 2018 Toyota.
My attachment is a bit emotional – perhaps like to a college football team.
I have a E-350 sedan. Kind of mid range model. I’d like an S Class but would not spend that kind of money.
I just drove the new one from NJ to Florida. The ride is incredibly smooth, far better than my 2014 version. The handling and safety measures are great and good thing as some crazy driver cut me off by inches and the car handled my reaction very well.
The new E-350 has a 255 HP 4 cylinder turbo engine, nine speed. I was reluctant about 4 cyn, but I can’t tell the difference in power from the old 6 cyn plus it gets 40 mpg on the highway.
Most amazing is you handle nearly all controls while driving simply by talking to the car.
It’s understandable having the emotional attachment, plus you know the Mercedes product very well.
Glad you made it safely to FL, albeit the crazy driver, along with your quick reaction and trust in the handling of the vehicle.
Are Michelin tires installed for the smooth ride?
I know you were in a crunch to get a replacement, but curious if you had considered an SUV model, and if so, what model?
Thanks for sharing the driving and ride experience with your new vehicle!
Mercedes uses Continental tires.
Connie is short and getting into any SUV is a problem so no SUV for us.
Interestingly several women in our condo drive large SUVs.
I’m short and didn’t think I’d ever drive an SUV of any description, but I got a subcompact SUV (Audi Q3) for my current car (bought in 2020), and it’s working out great. It’s big enough to be a solid car for trips but small enough to fit into compact parking spaces. I have no trouble getting into it, either.
Thanks RQ! I’m surprised about the Continental tires.
Things to consider:
Age of vehicle (10 years).Mileage (not stated).Type of repairs (not stated).Condition of other aspects of the vehicle not included in the repairs. (For example, when is the next brake job due? What is the condition/age of the tires – 5 years is considered full life by some experts, regardless of wear. Status of A/C system, age of battery, serpentine belt condition, etc.).In general, as others indicated 15 years life isn’t unusual. However, mechanical condition including engine, transmission and brakes is determined by the type of preventative maintenance performed. For example, oil changes every 6 months or 5,000 miles for a 4-cyl ICE vehicle. Replacement of trans fluid and flush, engine flush, etc.
I don’t push a vehicle past 150,000 miles. My experience is the repair costs go up beyond that and about 15 years of age. Coolant system problems can occur. Turbos can break down and if they do, any parts will be ingested by the engine and that’s the end of it. For example, at 18 years my 2004 Malibu Maxx (6 cyl) needed a new fuel pump, I proactively replaced the serpentine belt too. After repairs I concluded the tires would soon need replacement. A year later I decided not to invest further into it and donated it as a fully functional vehicle to a veteran’s organization.
I usually purchase slightly used vehicles. My last “new” car was a Subaru WRX in 2005. I pay cash.
Dick,
My 2014 Toyota Camry has some issues and I decided to replace it. It only has 108k miles, and probably can get to 200k without major problems. But as I get older, reliability is really important for a car.
I bought a new 2025 Camry. I considered low mileage cars but, at least for Toyotas, it is better to buy new. They have an excellent warranty with free oil changes for the first 4 years. They also now have a lifetime powertrain warranty that is honored by all Toyota dealers. If I bought a used Toyota, even with only a few thousand miles, I would lose the lifetime warranty.
I researched Carmax, Cargurus and others and it was clear that new was the best way to go.
My new Camry has all the safety features that used to only be on premium cars which is another reason to purchase it.
I hope this helps and good luck in your car quest.
Here’s what i did yesterday. I bought the car, it has 40 months left on the warranty. They are taking a personal check so i can pick the car up this morning. With all the technology it will take a month to figure it out.
Good news is you talk to the car for most instructions. It even knows if it’s the driver or passenger speaking.
I’m glad you bought yourself a car. You deserve it.
We bought our new top of the line Toyota in November. I’m still working my way through the owner’s manuals, yes plural. It’s longer than War and Peace. My other current read is The Diary of Anne Frank. It’s much more interesting.
This reminds me of a conversation I had with my brother-in-law at Thanksgiving. He had purchased a new car with lots of tech. When I asked how he liked it, he acknowledged that it may have been too much for him. He had to take it to the dealer to change the clocks at the end of DST.
Good luck with the new car, and safe travels to you and Connie. I look forward to some fun posts from the sunshine state.
10 days with my new car, and I still have not figured out how to tune the radio. I agree with your BIL. There is such a thing as too much technology.
What’s a radio boomer?
PS I’m one too.
There is one thing I’m reluctant to try.
You push a button when looking for a parking space parallel or head in. When you pass one that fits the car stops and parks for you.
It also gradually adjust your seat while driving so you don’t get stiff or uncomfortable riding for long time in one position.
Would love to have a car that parked itself! Otherwise I prefer to do the driving. BTW, if you care about privacy you might want to check what the car is recording and sending back to the manufacturer. Turn off what you can. Although if the system hasn’t been reset it may think it’s still reporting about the previous owner.
I really enjoy my new car—why not have some fun? The half of the new technology I use is great—safety crash avoidance systems, wonderful car-play stereo system, automatically locks up or unlocks when leaving or arriving with the fob. My previous car was 12 years old with low miles and no repairs, but you sometimes just need new outfits. i am now enjoying my turbo sports sedan with hybrid acceleration assist and good handling. I tried to go EV but found them at this stage too heavy, not nimble driving (there were a lot of tut-tuts from eco-relatives). My only strict criteria were fitting in the garage, spouse not embarrassed by a late-life crisis 2 seater, no financial stretch by saving up and hitting the end of the model year rebates.
That technology is amazing. Can you try it out in a parking lot with cones or trash cans like in the old days?
Of no help to Dick I’m sure, but as an aside, in a few weeks we’ll be back in the states and will be picking up our 2008 that we’ve owned since 2011. I suspect we spend more to store, insure and maintain it than the economics warrant. But we do always like having it when we’re back. Then again we also enjoyed having a nice late model of the same car as a courtesy loaner while ours got serviced. If our car were to pass on I’m not sure we’d replace it as long as we’re nomadic, or how we’d think about the replacement if we did.
https://humbledollar.com/2023/11/taking-back-the-wheel/
I was going to say get the loaner and pay cash. (I assumed the loaner is a car you like in the first place.) But I also agree fully with Jackie and David Lancaster and other comments in the same vein as theirs.
I am going to make a recommendation that likely goes against the HD ethos – I suggest you get yourself “A Really Nice Car”. Assumptions from your many posts: 1) You have the financial resources, 2) you seem to travel so you are likely reasonably healthy and will survive for quite some time to make an expensive purchase last, 3) similar to # 2, you’re driving to Florida, where a “Nice Car” would lend itself to a more pleasurable drive – analogous to many recent posts on this blog about paying for first class seats when flying, e.g.,“If you don’t buy a nice car, your kids will” !!
I splurged a fair bit, but easily affordable for us, 2 years ago, with no regrets at all. We also drive to Florida (leaving winter soon, thank God) and it makes a VERY long drive more tolerable. Finally, “They” say to pay for experiences, rather than things, as the pleasure from the latter declines quickly….I am not at all a car guy, but after 2 years, I am very happy to find an excuse drive somewhere to do an errand,😜. Happy to share my car details privately with you Dick.
Yes, get a nice new car with all the latest safety features.
Randy is absolutely correct!
For me the best “new” safety feature was the backup camera. When in reverse our flashes a warning and makes a sound if a pedestrian or another car is going to be behind you.
At my age turning my upper body around to see what is behind me is …
uh … challenging.
I agree with what Jackie has said so far. Chris
Cash, since you have it.
Do you really love the loaner? If not, don’t get it. You will be owning this car for a long, long time. Get what you like.
The headlights stopped working on Chris’s 2010 Prius. It needs a new wiring harness, which is also more than the car is worth. I have no advice for you, as my quandary is the same as yours.
i will say that with these higher interest rates, leases seem expensive.
Why do you have to decide in four days?
Because we leave for Florida on Wednesday and I can’t take my old car.
You can always rent a car to for a couple weeks to take to Florida. I wouldn’t rush a big decision even if it costs you. You will have the new car for a long time. Take your time, do research, and get what makes sense for you and that you really like
You can also get to Florida by flying or taking the train, allowing Dick to rent the car when they get there. I also wonder whether Wednesday is really set in stone – don’t they own the Florida property?
This is fantastic advice. Rent now, make a decision when you have the time and resources to evaluate all your options.
Will the dealer provide some type of warranty on the 6,100-mile vehicle? If so and if the vehicle is something you like, I would opt for that one and avoid all the depreciation that happens in the first couple years of owning a new car.
Pardon my language, but screw worrying about depreciation. Knowing your financial situation you can afford whatever you want. But also knowing your financial situation it will be practical.
I read all the posts in reverse chronological order, so this is my advice which is mostly a compendium of others advice.
I don’t know when you last bought a car, but knowing RDQ I’m sure it has been years. The car buying experience sucks now. There’s very little inventory (at least for high end Toyotas). My suggestion is the similar to Jackie’s except maybe take Amtrak to Florida since I assume you’re leaving from your place in NJ. Rent a car in Florida. If you usually bring significant belongings in the car ship them. Do your research and decide what you want to buy. When you’ve decided what make/model see if you can rent it for a week or so to see if it’s a good fit.
Our last two vehicles we bought top of the line Toyotas with all the safety bells and whistles, and believe me they help. Our insurance was less for a new 50K car than a 11 year old vehicle worth about 5K. This tells me the insurance company is sending me a message. We went with expensive reliable vehicles. We figure with our decreased driving they will last 15+ years. After that we’ll be in our early eighties so probably one more vehicle to share. Maybe self driving by then as it may be safer.
Oh yeah, and pay cash.