Should I buy a new car?

Question

Here's the situation.
My current car has 123,000 miles on it. Today the alternator went bad. We thought it was the battery at first because we couldn't even test the alternator because the battery was seven years old, so we placed that. $85.00. Then it was the alternator on the car. It's going t run at about $220 to fix it after taxes, labor, etc. Then I need my breaks in the front replaced. Not sure how much that is. Also need the transmission fluid flushed as well, which is for sure $100 or so. The car is getting a little rusty as well, but runs fine (when it works - right now it won't even turn on). I'm getting ready to move on my own in a few months, i'm curious as to if I should buy a new car (leased preferably) or if I should stick with what I have, pay $500 + to repair it, and keep it till it dies for once. Any thoughts?

Answer 1

Alternators usually run around $65. Even if that was why the battery died a 7 year old battery was pretty old anyhow. Brakes and transmission are routine maintenance.
Nobody knows what shape your car is in, but a lot of cars last twice that long and a few minor repairs at over 120,000 miles are to be expected. Buying a $30,000 car to avoid a little routine fixing doesn't really make much sense.

Answer 2

If I were you I'd probably keep it. Yes you have to cycle through some replacements as the car gets old, but with every replacement, you put some "new" back in the car. New life for those brakes (probably $400-500), plenty of "juice" and some added pickup thanks to the new alternator and battery. You probably wouldn't have to do another brake job like that ever unless you put another 100K miles on it.

Just look at it in terms of what you could be putting out each month in a payment, and it doesn't seem so bad. Over a lifetime if you keep a car 10-15 years instead of replacing it when the payments are up, you will save an incredible sum of money.

Answer 3

You didn't say what kind of car it was. But anyway, if you are not a mechanic or at least mechanically inclined, a car with 123k on it is going to be trouble. Keeping it running will cost you a bundle including the times it quits when you need to get to work. Leasing is an option but I don't recommend it. See how much you can afford and buy a lower priced new car or a reasonably priced used model from a reputable dealer.

Answer 4

I'll give you $500.00 bucks and I'll get the car towed, and go right ahead and spend the money on a lease/finance.

Then I'll fix it, and sell the car for probably at least 3 times that amount.

Get it fixed and drive her into the ground.
When you move on your own, you will have more money if you dont have that extra monthly payment.
Which you can save to buy a semi used vehicle that is only a few years old, and still get warranty with it.

I dont know your situation, or your finances, but I dont believe that it's the best idea for you to plumit your money and spread yourself to thin in the money department.

Answer 5

All the stuff you said are common things that can happen to all cars. Just because something needs to be replace doesn't mean you have to get rid of the whole car. If you don't have anymore payments on this car, why on earth would you want to start paying every month for a new car?

Answer 6

All the repairs you did are regular maintenance, even if you buy a new car you will have to replace the battery and brakes at one point. 123K is not alot of miles also. I would keep the car you have and just maintain it.

Answer 7

What you will desire to ask your self is; what's this going to fee you interior the tip? you're finding at a $2400 restoration for an excellent automobile with basically eighty,000 and relativly greater modern kind. after it is finished it is going to possibly be advantageous and pushed actual for a on a similar time as till you're finding greater to be incorrect. in spite of in case you bought it as is, you should get at maximum $2000 for the automobile. so in case you're taking the 2400 and 2000 you have 4400 to spend on a clean used automobile. A $4400 automobile isn't the terrific interior the international. you're finding at identifying to purchase a older kind, ninety 8 or older, with greater mileage. as that stands, you're finding at issues even faster back which comprise your new used automobile, and for this reason going to would desire to spend greater money fixing that, because of the fact you will by no skill purchase a used automobile with out having to repair some thing. So, i might say restoration the automobile to your 2400, and be accomplished with money. it is the terrific ingredient, not greater money. so, finding on what your month-to-month fee replaced into, you should nonetheless be saving greater money by employing repairing it. ask your self how plenty have you ever saved because of the fact the money have been finished, does it outweigh what the upkeep would be? merely what i think of would desire to be accomplished.