[raw_anon_1111]

The problem with old junkers is that if you don’t have the money in cash, how do you fix a major car repair? You can get a loan for a new car with money.

The car “generates income” because it allows you to get to work and hopefully make more than your car note.

[Esophagus4]

You can also take out a loan from a credit union for the repair bill on your older car. Or even putting it on a credit card is an option.

A $3k repair loan is a lot easier to pay off than a $30k new car loan.

A lot of the people I know try to justify “new car fever” and will use some version of “I don’t feel safe in it anymore” or “I don’t think I can trust it.”

[raw_anon_1111]

It’s a lot easier to get a secured loan for a car than an unsecured loan depending on your credit.

I’ve only had new car fever once. When I was 25 and bought my second car - a Mustang in 1999. I drove my Mercury Tracer that my parents bought me in 1991 as a junior in high school.

But that car was wrecked in 2008. I gave my next car - a Honda Civic - to my step son in 2014 and my next car after that - a 2012 Chevy Sonic bought slightly used from CarMax in 2020 when I started working remotely and we went down to one car.

But I would still much rather by a cheap newish car that I don’t have to worry about than a beater that might put me down or more importantly my wife.

[_heimdall]

Old car repairs generally don't cost as much as you'd expect, especially when you aren't paying $750/no on a loan plus higher insurance premiums.

My mechanics often perk up when I bring in my 80s era pickup. It has very low miles, they can generally diagnose it with very basic tools, and parts are cheap. When I have the time to work on it myself I appreciate it for those exact same reasons.

[ryandrake]

Yea, that $750/mo that you're now not paying can be saved to pay for the occasional repair bill that you're going to face while owning a junker car you didn't take on a loan for. Or, not, if you bought a 1995 Toyota Camry or something which is probably going to outlive you.

[potato3732842]

>s probably going to outlive you

You mean "rod the block next week because it was used as an uber and before that it was owned by three successive hipsters who didn't change the oil because 'lol it's a Toyota' or whatever"

Dollar for dollar Toyotas were a bad buy as soon as Reddit started trying to tell everyone to buy them.

[_heimdall]

Right. I buy old cars, but I'm picky as hell and buy ones that have been taken care of, still have parts availability, and are models with proven reliability.

I still recommend anyone buy a later model Buick Lesabre if you find one in good shape. They're very cheap, the 3800 motor is excellent, and are still very comfortable rides that get around 30mpg on the highway.

[master_crab]

3800 is in a lot of things. Chevy impala, Monte Carlo, etc. lots of cars benefit from that reliable and easy to maintain engine. Also gets decent gas mileage (not earth shattering but mid-high 20s is friendly to most bank accounts).

[_heimdall]

Yeah I'll keep an eye out for all of them when I'm in the market. I generally find the best results with the Buicks though, its more common to find one in good shape with a good service history.

The one I drive now was a one owner, it was literally a little old lady's Sunday church car that she sold because she decided to give up her keys. Its not perfect, and the AC compressor needed to be replaced, but they were the kind of owners that took it in ever 3k miles to a mechanic they trusted and fixed whatever the shop recommended.

[ElevenLathe]

My first car was a Katrina-damaged Impala that smelled like puke until I hit it with an ozone generator. Drove it for almost 6 years including twice cross country. Most I ever put into it was a new water pump.

[raw_anon_1111]

And when you buy the car hypothetically and the motor goes out or the transmission within three months?

And it’s one thing if your car breaks down on a side street, it’s completely different if it breaks down on an interstate. If you have a daughter would you be comfortable with her driving an unreliable car? Your wife? Your mother?

[smileysteve]

A car that averages 15k miles/year, has a maintenance record, and appears in good condition tends to be less likely to be a lemon than most brand new cars.

For an anecdote, consider that Jeep just bricked thousands of new cars, including on interstates 2 weeks ago.

That GM recalled most 6.2l engines made in the last 5 years; ... Toyota engine castings, bmw chain tensioners, Ford Ecoboost coolant passages, Porsche bearings... Most of these problems became apparent before a long term first owner sold (yes, you should do research)

A pre purchase inspection, and all around maintenance (brake, coolant, oil, transmission oil, and differential oil) will get you a long way; a $2k suspension refresh will take you even further.

[_heimdall]

Sure, your motor or trans can go out on any vehicle and unless you still have a warranty its your problem.

It sucks if you spend $3500 on a car only to spend another $2000 because the transmission went out and the timing was bad luck. I wouldn't recommend anyone buy an old car I'd they have no emergency fund left after the purchase though.

My wife does regularly drive our old cars. If it dies on the highway we'll deal with it. I don't have a daughter, but I wouldn't worry about my kid driving the kind of old cars I pick up - I'm patients picky, and able to work on them myself. The car would be the least of my worries if I had a young daughter with a drivers license.