I purchased my new-to-me (used) automobile in October 2021. I used to be so happy with myself after I paid off the automobile mortgage (initially a couple of $20,000 be aware) in two years! It was paid off by October 2023, nearly precisely one yr in the past. And right here we are actually…. Solely 3 quick years with this car and I’m contemplating changing it. Let’s again up.
My Automobile Historical past
I’m not one to purchase a brand new automobile each couple of years. I’m 40 years previous and have solely owned 5 automobiles in my whole lifetime! My final car I had for almost a decade! I like to purchase a automobile, deal with it nicely, and maintain onto it for a very long time. I’d relatively pay it off and have an older car versus buying and selling in for brand spanking new and having a automobile fee.
The Story of This Automobile
With my final car, I drove it till the metaphorical “wheels fell off.” No, the wheels by no means truly fell off. However that’s what I contemplate it when it acquired to the purpose of possession that the automobile continued to interrupt down and the repeated repairs price greater than what a automobile fee would price. I had the automobile like that (with fixed break-downs) for over a yr earlier than I lastly bit the bullet and acquired my present automobile.
The issue is, this was in the course of the center of the pandemic. Keep in mind when every little thing was waaaaaay on backorder at the moment? Used automobiles have been promoting for dearer than new (this isn’t hyperbole! I check drove a used automobile priced for greater than a brand new one as a result of the brand new one was months and months on backorder).
I say all this to say that this automobile was by no means my favourite. It was one of the best car out there on the time that match my must-have necessities. I insisted on a small SUV, one thing with 3rd row seating so I may taxi round my children + their mates. However it was older than I preferred (2017) with larger in mileage than I might’ve preferred. And now it’s beginning to price some huge cash.
Routine Upkeep
For the previous two oil adjustments now, I’ve been requested to do dear upkeep. That is one thing I’ve all the time achieved previously as a result of I need my autos to final a very long time. However this can be a “luxurious” car (an Acura MDX) and the components and labor and every little thing about it’s EXPENSIVE!
I agreed to the 100,000 mile fluids flush (not low cost) two oil adjustments in the past. However this most up-to-date oil change, in addition they advisable changing entrance shocks and struts and higher/decrease management arms. The to tune of $1800/every. $3600 in routine upkeep!
That was a troublesome tablet to swallow. I declined the work, got here dwelling, and began calling round to different outlets to do some worth comparisons. Seems, that’s concerning the going price. I discovered I may save a pair hundred going to a different mechanic, however even one of the best worth quoted was for $3300.
Choice Level
After I purchased this automobile, my thought was that I needed it to final lengthy sufficient to be my ladies’ first automobile. I might drive it till then. When the women acquired to driving age, I might get myself a brand new automobile and present this to them. However now with the price of even routine upkeep, I’m not so positive that’s one of the best thought.
The women are solely 12 years previous. My automobile now has over 105,000 miles. Is it going to final one other 4 years till the women flip 16? After which one other 2 years or so previous that, to get the women via Excessive College? That looks like a stretch.
So if this automobile isn’t going to final, ought to I contemplate making a change sooner relatively than later?
Present Plans
I don’t like automobile procuring. I don’t need a new automobile fee. None of that is due to vainness causes of wanting a brand new automobile or something like that. And my automobile is completely functioning proper now, even with out the routine upkeep being achieved (I’ve been suggested the upkeep will make for a smoother trip, however it’s not a security problem). So this isn’t an emergency. No selections have to be made proper now.
However simply forecasting to the long run….I don’t suppose my authentic plan of getting the women take this car in 4 years goes to be sensible. I do plan on getting a car for the women to share when the time comes. And I do NOT wish to find yourself needing to buy TWO new-to-us autos on the similar time (one for me, one for them).
I’m nearly tempted to purchase myself a more moderen car within the subsequent yr or so, use this one as a trade-in, after which plan to get the women one thing smaller and cheaper once they get to driving age? Another choice is to purchase myself a more moderen car within the subsequent yr or so, hold this one however stop driving it, and nonetheless hold it for the women to inherit in a number of years? BUT that doesn’t clear up the difficulty that this car may be very costly to keep up. Even oil adjustments are almost double what my previous Explorer used to price.
I’m crowdsourcing ideas, opinions, and so on. In the event you have been in my place, would you do the costly upkeep and hold this car, hoping it would proceed to final for an additional 6+ years? Would you begin planning to purchase a brand new car, and both use this one as trade-in or hold it for the youngsters sooner or later?
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