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SUVs Honda CR-V 2001 - 2006 Honda CR-Vs
16152 messages, Last post on Nov 23, 2009 at 9:50 AM
You are in the Honda CR-V Forum. Your Hosts are steve_ & tidester
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Replying to: accord1942 (Oct 31, 2009 7:00 am) Most people tend to overestimate repair costs & underestimate depreciation expense when they're doing car ownership math. One more thing. Don't trade your CR-V in when you decide to buy a new car. Sell it privately. You'll be surprised by how quickly your car sells & how much you get for it. Having sold a nearly 12-year-old Accord that wasn't much to look at in just one day, I'm speaking from personal experience. Used Hondas & Toyotas can bring stupid money.
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Replying to: jimbres (Nov 01, 2009 4:29 pm)
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Replying to: berri (Nov 01, 2009 7:02 pm) Moreover, the '02 CR-V is among the used cars that CR recommends in the $8K to $10K price range. If it were my car, I might consider selling it (certainly not trading it in) & buying a new one - but not out of fear of high repair costs. The best reasons for getting rid of it are safety-related. The '02 lacks stability control & curtain air bags, both of which are critically important safety features.
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Replying to: jimbres (Nov 02, 2009 5:04 am) |
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Replying to: jimbres (Nov 02, 2009 5:04 am)
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Replying to: ateixeira (Nov 05, 2009 8:45 am)
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Replying to: berri (Nov 05, 2009 9:29 am)  What % of them fail? I had a 93 Miata and sold it this year, in some ways I still regret selling it. |
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Replying to: berri (Nov 05, 2009 9:29 am) First, while some cars are more reliable than others, every car has its weak spot, No car is bulletproof. In other words, all cars, without exception, are crapshoots. If you want a sure thing, walk or take the bus. Second, if you habitually get rid of perfectly good cars because you're afraid that something expensive might fail tomorrow, or next week, or next year, then you will certainly go broke some day. It is almost always cheaper to fix what you own than it is to replace it. Yes, there are exceptions to this rule, but not enough to keep frequent buyers from impoverishing themselves, as they usually do.
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Replying to: jimbres (Nov 05, 2009 5:08 pm) Hey, wait a sec.... 
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Replying to: jimbres (Nov 05, 2009 5:08 pm) From a financial basis you can look at it on a depreciation basis which is probably the basis you are using. However, to me its more than just a pure dollar decision. You can also look at it from a risk basis. Right now the vehicle still has a some decent trade value left, if the AC goes that just changed big time. Honda's are not invincible, and just like domestic cars when a car gets to be 8 years old its likely to start nickel and diming you, and also more likely to fail on the road than a newer car. If you don't mind these inconveniences and are willing to absorb a seemingly better than average chance of a $3500 AC bill, then keep the car. However, I prefer to to get rid of them when they get around 6 or 7 years old ( or 65-70K or so) anyway, before all the hassles start. Most cars I've had (foreign or domestic) also start riding worse and rattling at this point, as well as leaking on the garage floor. If a car has an apparent high dollar weakness, be it AC, engine, tranny, etc. to me that's another reason to dump it. Besides, when you start replacing major components there is a good chance it won't hold up or perform as well as the original which has been my experience at least. So I just don't dump cars frequently, nor does holding a car 6 or 7 years lead to impoverishing myself (most of the depreciation is over by then anyway as that curve has pretty much changed to straight line depreciation by then, similar to learning curve behavior). Also, at this point the money you are saving on depreciation for a 7 or 8 year old car is probably being outrun by the inflating new car prices over that period of time and repair and maintenance costs. Take a look at the 02 price versus a 2010. You don't see a lot of fleet cars, even low mileage ones kept much past 5 years other than municipal vehicles. Please don't start telling me the corporate fleet and accounting people don't know what they're doing either. |
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