Last post on May 20, 2013 at 7:19 AM
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#843 of 863 Re: Fix up or trade in ('04 Malibu Maxx LS) [bolivar]
Feb 10, 2013 (11:10 pm)
I moved out of NYC which is what required the car. You are right though in that the major part of that cost is in the bumper so I could probably hold off on it. It has just been paint bubbling over time though and it annoys me to look at grow (I moved to a very hot southern state).
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#845 of 863 Worth "investing" in?
May 14, 2013 (10:34 am)
I own a 2005 Honda Accord EX-L 4cyl/automatic. I purchased it Honda-certified used at the end of of 2007 with about 25K miles on it. It's been paid off for about a year or so now, and has about 115K miles.
The only real repairs I've had to do was replace a coolant temp sensor for about $100, and rear sway bar links (which I did myself just for the cost of parts; maybe $50). I've been pretty good about keeping up with the maintenance; replaced the pads and rotors on all 4 myself about 30K miles ago, replaced the trans fluid at about 75K miles, regular oil changes about every 5K miles, cooling system has been flushed once a couple years ago.
I'm overdue to replace the plugs (due at 110K), and I should replace the serpentine belt just as a PM item (still the original belt), and figure I should replace the all the hoses as PM as well (also originals). I'm also due to replace the trans fluid and flush the cooling system again. Never replaced the brake fluid, although the manual says I should have. At this mileage, I assume the shocks/struts are on borrowed time. No timing belt to replace, at least. Tires should be good for another 20-30K miles, I'd guess.
The body is in decent shape, with scattered scratches appropiate for an 8 year old car. The front bumper cover is cracked and could stand to be replaced (tangled with a dumpster and lost), and there's a pretty good scuff on the back bumper from rubbing up against a guardrail, but I'm not necessarily married to fixing these cosmetic items. If I chose to though, I'd guess MAACO could straighten things out for about a grand.
I reckon I can address the immediate required maintenance and preventive maintenance items for roughly $500-750. I'll admit to having the "hotsies" for a new(er) car though, and I'd guess my car is worth roughly about $5k on a trade (if I address the cosmetics).
My question to you: What would you do? Fix it, detail it, and continue to drive it awhile longer? Trade it while it still has some value and before the miles get scary-high? Are there other potential upcoming maintenance issues for my car I'm overlooking?
#846 of 863 Re: Worth "investing" in? [mcrrt]
by Mr_Shiftright HOST
May 14, 2013 (11:17 am)
Sounds like you're putting about 15K miles a year on the car.
I would say to keep it and run it up to around 150K, since you have already broken the 100K threshold and thus affected resale considerably already.
The cosmetics are only important if you sell it, so that's up to you.
I don't think the car has run its useful life yet and even if you have a few repairs in the future, no way that's going to add up to $350 a month car payments!
So maybe in the Spring of 2015, you can start nosing around for a new car!
#847 of 863 Re: Worth "investing" in? [Mr_Shiftright]
May 14, 2013 (11:27 am)
#848 of 863 Re: Worth "investing" in? [mcrrt]
May 14, 2013 (12:08 pm)
Depends on what you want. Your Honda will continue to run well without major repairs for a few years at least. But do you want more safety features? Better electronics and phone adaptability? Better fuel economy? If those don't matter keep the Honda. But if they do you will be amazed at the new Accord. We were in a similar situation, older car though, a 2001 Nissan Maxima with 130k on it. We finally decided to get the new Accord this year. What a difference!
#849 of 863 Re: Worth "investing" in? [mcrrt]
May 14, 2013 (12:49 pm)
Assuming you're not one with an abusive driving style, your car should be good for 200,000 or more miles. Therefore, your decision essentially rests with whether your desire for a new car trumps the lower cost of ownership that one enjoys with keeping the old car.
Please let us know what you decide to do.
May 14, 2013 (4:02 pm)
I guess it's safe to assume that after one hits the 120k, the trade in value ain't gonna be that much. But living in South Florida, is it better to have a perfectly running a/c or a wonkey one like we have in our '05 Mazda3s? It still works in blower speed 3 & 4 but only sometimes in position 1 & 2...personally, I hate to be throwing $ into this puppy and just want to get her into a 2014 model. Not sure if I should fix or trade the way it is when the time comes? As long as it continues the way it is, we'll stay the course.
#851 of 863 Re: Worth "investing" in? [mcrrt]
May 15, 2013 (5:04 am)
If the only consideration is cost of ownership - drive it 'til it drops. You will need a backup car - but for another couple grand, you can drive that thing for a very long time with very low risk of being stranded -= and laugh all the way to the bank.
May 17, 2013 (6:25 pm)
One of our cars is a '99 Acura TL with 142,600 miles. We're the original owners, and the car has been meticulously maintained and driven with care. We've used Mobil 1 since about 50,000 miles. Mechanically it's in excellent condition, considering age and mileage. Although it's been garaged, cosmetically it's what you'd expect a 14 year old car to look like; not bad, but certainly not perfect (as of 3 days ago).
A couple of days ago my wife was stopped at a light when a SUV hit the Acura from behind. Fortunately, no one was hurt, which is the most important thing, and the other driver readily admitted fault. The other driver's insurance company declared our car totalled, claiming that it would cost over $7,000 to repair it. They offered $4,005 if we sign over the title to them, and $3,675 if we keep the car.
A friend suggested a body shop that his family has used in cases similar to ours. This shop is family owned, seems honest and has been in business for many years. They gave me an estimate of $4,028 to repair the car, with used parts. The owner located '99 TL parts from a car the same color as ours.
The insurance company was adament that they'll only pay $3,675, so we'd have to cover the difference if we chose to have the car repaired. My wife and I are the only licensed drivers in our household. Although the TL is a third car, we like it, and it's useful to have an extra car. We could eliminate the third car or replace it, but had no plans to do either before this accident.
We're debating whether to pay the $353 out-of-pocket to have our TL repaired. It's certainly not much money, but we had no fault. Should we just rationalize this small expense as a cost of driving? Your thoughts/suggestions?