Repairing Your Car or Buying a New One

We are fortunate to have so many regular customs that are just plain awesome. One our favorites Julie recently came recently needing close to $1800 in maintenance and repairs. The question so many customers have to decide is do I want to put this much money in a ten year old car or purchase new. Well there are several ways to look at this issue.

In Julie’s case her car needed a timing belt, water pump, oil change, brake and transmission flushes. Her vehicle is a 10 year old Lexus with only 98,000 miles. Julie made the choice to have the maintenance done to her car. This car should last another 5 - 10 years with regular maintenance.

Vehicles made in the last 15 years are not made like they were years ago when your car’s odometer rolled over to 100,000 miles it was time to get a new car. They just weren't made to last 200,000 - 300,000 miles. Any Toyota or Lexus made in the last 15 years should last 200,000 - 300,000 miles or more. (My 2011 Toyota made Scion XB has 317,500 miles on it and runs like a top)

Everybody loves a new car however perhaps not so much when it comes with a $500 - $600 a month car payment. That’s $6000 - $7000 a year that could go to so many other things such as bills, vacations or savings.

I have to say last year I went through a period of “new car fever” and started looking for a new vehicle. I liked this one and especially that one with all the new bells and whistles. Ahh the new car smell and look. No scratches dents or dings. It was almost like a touch of insanity entered my mind. The thought I then remembered was how glad I was when I made that last payment and the previous months looking forward to not having a payment.

Well so far I have not purchased a new car and actually my car did breakdown last week. Fortunately it was an inexpensive repair. I have only spent $550 in repairs in the last 15 months and still feel very confident in my vehicle’s reliability. This is not to say I won’t buy a new car in the next few years however I like the extra money in my bank account for now.

This is all food for thought mostly about not being afraid when your car is getting a little older or around 100,000 miles. New cars are nice however so is money in the bank.

(And I do still have that new car itch, I’m just not willing to scratch that itch...yet)

Chris