Need help with a decision(buy vs. keep the old car)

devinvtJuly 28, 2008

I currently have an '01 Oldsmobile Intrigue. I just replaced the tires replaced and found out the front bearings need to be replaced as well as the tie rod. The back brakes also need to be replaced and the fluid flushed. I still owe almost 7000 on it. There is a power train warranty on it for another year. My question is, should spend the money to fix it or just buy a new car since the only things that seem to be breaking right now are not covered by the warranty. Oh, and also the passenger side power windows are shot and need new motors/ rotors. Any advice, other than I never should have bought an Oldsmobile?

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Well everyone? After close to a decade of me answering this very question here (and other places) it will be fun to sit back and watch the advice fly.

    Bookmark   July 28, 2008 at 3:25PM
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Since you still owe $7,000, I would get the car fixed. Have you looked at new car prices lately? You have recently put new tires on it, so spend the extra money to get the other problems fixed. This repair job is going to be cheaper than buying a new car.

    Bookmark   July 28, 2008 at 9:43PM
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OK that's one.

dev. If you trade in and you are upside down by $7000, and combine that with depreciation the moment you drive the new car off of the lot, you are now upside down about $11,000 on the new car.

Let's see if we get any more reasons why you should fix your car and drive it for the next ten to fifteen years....

    Bookmark   July 29, 2008 at 8:23AM
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well this is a tough one, 7k thats what you could get another 01 olds at the auction for. dealer wil prob charge at least 3k for the repairs, hhmm as far as not buying the olds, well a g.m. car is a g.m. car all the same except for the name. 7k rolled into the new loan, at least 7k depreciation on the new car soon as you drive it off the lot, 3k less on trade in than you might get selling retail, 17k total, thats alot of repairs. go buy a new one and help the u.s. economy. haha

    Bookmark   August 1, 2008 at 4:10AM
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When I buy a car or truck I keep it until it dies. I have an '00 Dakota and it's been paid for for the last 6 years. It only has 135,000 miles on it and it runs good. I also have an '03 Expedition with 125,000 miles that's also paid for. It's now giving me some small problems like the AC cutting out when accelerating, but other than that I like the idea of no payments. My previous truck was a 90 Nissan that I kept for 10 years and 314,000 miles.

    Bookmark   August 4, 2008 at 8:24AM
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Sorry for not getting back sooner, been at the freaking mechanics shop too much! So basically I took the advice and got the repairs done, I think I was freaking out a little bit. I now have had the tires replaced, the front tie rods, the front hub bearing, and now I get a PO410 code from the computer. Looks like something has gone wrong in the "smog" pump. I have checked the fuses, they are OK. So looks like that was the cheap fix option. I am going to take it back to the shop to check it out and see where the problem is. I am hoping that it is just a leaking hose and not the pump itself or the relay, because that is going to cost me. Looks like the pump has to be either bought from GM, no one else makes the part, or a rebuilt one. So this repair will cost me. And I called the warranty company, since this is not an internally lubricated part, it is not covered. Next time, it like 3 years when the car is payed off, I will learn to research the vehicle better first and make sure the warranty is going to cover the things that break down the most. Thanks for all the advice people, I have never been in this kind of a situation before. I had a 96 Dakota that only had to put new tires on and fix the exhaust(twice) in 6 years. Wrecked it and had no choice but get a car fast as I had no other transportation.

    Bookmark   August 13, 2008 at 2:11PM
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We like to keep our cars a long time. We still have the '83 Honda Civic since it was new. We bought our '96 Explorer when it was two years old from a friend who wanted another new car. I recently bought a '90 Corolla coupe in excellent shape from my bro-in-law. I work on all our vehicles ordering my parts online usually from Rockauto. Working on your own cars is one way to save money.

We did buy a new 2005 Ranger for our kid to drive at college. We got the pickup online though Carsdirect. Easiest car buying experience and the best price we could fine. Paperwork at the dealership took just 15 minutes. No hassles.

Just my thoughts on keeping old or buying new.

    Bookmark   August 14, 2008 at 8:01PM
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I keep my cars forever as well. I've been driving the same '89 Mercury Grand Marquis for 12 years now. Now, keep in mind I only average about 8k miles annually. And, that is exactly the reason that I cannot justify a major auto purchase. The Grand Marquis has been such a wonderful car, in fact, that I just purchased a low mileage '88 Grand Marquis for $2500.00. Someone told me that he thinks that with the way I take care of them, they may last me the rest of my life. I feel like I've beaten the system. (fingers crossed) Anyone want to buy an almost mint '77 T-Bird? I only have a two car garage.

    Bookmark   August 19, 2008 at 10:34PM
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I use to drive old cars back when I had to.No money, no credit,and they were easier to work on.But then I discovered a warranty and the new car smell and liked that.I never liked surprise repair headaches.I would rather make a payment every month on a new car then,Dumping money into a car that breaks down monthly.Water pumps,alternators,radiators,transmissions,tires,balljoints,exaust systems and other unexpected things add up.I would rather make the payments and not have these problems and if I do the warranty takes care of it.

    Bookmark   August 24, 2008 at 7:45PM
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i`am with you j.d. i like a new one every 3 yrs, so i just lease. by the way the dealer got my impala fixed after the 3rd time, and i have been happy with it. i would complain big time, but the dealer made it so ez pull it in, and they hand me the keys to a loaner and i`am on my way. may just go with another g.m. car when this lease is up, although that hyundai genesis looks mighty nice.

    Bookmark   September 15, 2008 at 2:39AM
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