When do you decide to get a new car?

[frugal saver]

Obviously, when your car is not repairable, wrecked, stolen. But when your car is "ok"--what decides it for you?

When I was young, it was the excitement of a new car. When I was older, it was the security of having a car that I could depend on to get me to work at 6 a.m.

This is the second October that I've gone back and forth about buying a new car. My car is 10 years old, 51,500 miles, needs new tires (yes, the same tires from my thread of last year) and that's pretty much it. I've replaced one set of brakes, and will be starting to replace stuff more and more.

On one side--I have a $12,000 check arriving soon (proceeds of a CD), can sell this car for $3000-3500 and could finance the rest, hopefully at 0% for 48 months. The new 2018 that I like has a back-up camera that would be nice.

On the other side--I would lose the income of re-investing the CD elsewhere, would need to make payments for the first time in many years.

On the reality side--I no longer work and seem to be driving around 2,000 miles a year or less. I do NOT live in an area where I could be without a car.

Keep it? Trade in?

[msomnipotent]

We buy new cars when we see something we really like and we have the money for it. Do you still really want the Outlander? If you don't, wait until you see something you really want while saving up some more money. If you aren't going to get a new car soon, buy some tires! Winter is coming!

[Jluke]

Do you need a 2018?

Backup cameras have been around for a few years now.

Have you considered a gently used vehicle that is coming off of a lease? That would have low mileage and you might not take the depreciation hit as hard as buying new.

Disclosure: I typically buy a new vehicle b/c I'm a high mileage driver AND the dealer's price those 2-3 year old cars close to the new car pricing. New car pricing will usually have special finance terms. Certified Pre-Owned often also come with a special finance rate. I prefer a 7-10 mile odometer reading from a new car versus 15k or higher miles on a used vehicle. To each their own on this preference.

what model are you looking at?

[frugal saver]

what model are you looking at?

I really want a 2018 Mitsubishi Outlander. But both the Mitsubishi dealerships here have closed in the last year. One has reopened by this guy that's had multiple dealerships with tons of complaints, which worries me. I'd considered driving down to the "next" dealership--near San Francisco, but then going that far for maintenance is an issue, too.

Realistically I need to probably look at other makes and see if there's something I like that has better dealer backing.

[greenskeeper]

51,500 miles isn't even broken in yet. Your current paid for car has at least another 100k miles in it if properly maintained.

[Nutria]

When it costs us more per year to maintain than half of it's kbb value, then we'll definitely trade it in.

If tonight my wife says, "I want a new car just because I want a new car, even though the van is running fine" then I'd promise to buy one next summer when we've got 2x as much saved.

[phantom]

I finally got rid of my first car a few months ago. It was 13 years old and had just under 100k miles. I would have liked a few more years out of it, but the things wrong with it started adding up. One of the rear windows stopped staying up about a year ago, and when I opted to hold it up with tape rather than get it fixed, that was the beginning of the end. More recently, the battery died, and I considered getting a new car right then and there. But, I didn't want to shop under pressure, so I replaced the battery. A few days later, it started making a funny noise, and I found out I needed a new air compressor. Since I could drive it for at least a few days with a bad air compressor, I figured I had my sign, and I started shopping.

I wish I knew how to figure out when a car was about to need expensive repairs and trade it in right before that became obvious to anyone else. But, that's not going to happen. Sometimes, you've just got to say, "I'm ready for something new." I really wanted the rear backup camera, and I'm really glad that has been standard for long enough now that all newer used cars have it. Knowing I'd be getting that by getting a new car made the decision to get one easier.

[disneysteve]

51,500 miles isn't even broken in yet. Your current paid for car has at least another 100k miles in it if properly maintained.

This! 51K and you're thinking of replacing it? Not a chance. I bought my current car with 26K on it. I've now got 86K and its 12 years old. I hope to have it another 5 years. Somewhere around 150,000 miles is when I replace them.

[LivingAlmostLarge]

When you can afford it. Up to you. It's a thing no different than a purse. Everyone's measuring stick is different. I too have been lusting after a new car. We'll see. My car is perfectly fine and in excellent shape with 7 years old and 110k miles.

[TexasHusker]

The Mitsubishi Outlander is a dog. And if two Mitsu dealers near you have closed, take that as a yelling voice through a megaphone to you that is crying "DON'T DO THIS!!!"

Seriously, the mitsu is one of the worst possible makes you can get. They depreciate like a Chrysler. Ugly.

[Jluke]

I really want a 2018 Mitsubishi Outlander.

best bets are usually the Honda or Toyota models that are equivalent to the Outlander.

I just replaced a 2011 Accord that was approaching 100k miles; I don't have the "luck" of others when it comes to vehicles going past 100k so I traded it in based on known issues and upcoming maintenance expenses.

[Like2Plan]

We just bought a new minivan because our old one got totaled. Prior to the accident we had discussed getting a new van but decided we would like to run it for another 2 or 3 years before replacing. It was 10 years old with about 120k miles on it, but it was a Toyota Sienna and had not given us any trouble. We figured we could reasonably expect to run it for 200k miles. (We did have a desire to upgrade some of the safety features--like a better back up camera and blind spot alert, but we decided we could wait.) So, anyway that decision was out of our hands when it got smashed up.

My car just turned 12 years old and has about 68k miles on it. I still enjoy driving it but I would like to upgrade some of the safety features, too. I will likely replace it after the new van is paid off.

[amastewa93]

Before now, I always waited until the car simply wouldn't go anymore. Now I don't own a vehicle because I live in an area where I can walk everywhere I'd need to go and I work from home. My fiance has a car that we share if I need to go somewhere and even that is very basic (two-seater Miata, stick shift, no power locks or even a radio).

The reason behind this, I admit, is to save money for a car for myself in the future and a home down the road. However, if you have the financial ability to do so and it won't heavily impact your savings, credit or monthly income/bills... I say, why not?

[scfr]

This is the second October that I've gone back and forth about buying a new car.

It sounds like maybe you start getting an itch to buy a new car when the new model year vehicles are released. Is that correct? Have you considered buying a new "end of model year clearance" vehicle? In other words, instead of thinking about buying a 2018, what about a 2017 that dealer may want to get rid of?

But as far as your original question, other than when we sold a car prior to a long-distance move, we start thinking about selling an "OK" car when it exceeds 150K miles. One of our current cars has almost 170K miles and we've been thinking for a few years now. Car is still running pretty good (has lots of minor issues) so we haven't pulled the trigger and bought yet. What will make us pull the trigger? Finding what we consider to be a screaming deal on a car we like. (We have purchased both new & used. Wherever we find the best deal, but we do have a slight preference for new and have had good experiences buying new.) One model that DH especially likes went through a major design revamp for the 2018 model year. So he'll be shopping the "outdated version" 2017s to see what kind of deals are available.

If your car needs new tires, I say buy the new tires unless you are absolutely sure you are going to sell now. Safety first and always.

As far as the backup camera, have you investigated having one added to your current vehicle?

[TexasHusker]

New cars are my vice. I love them. It's such a vice that, at least for my wife's car, we just lease.

Yes, I know, it's a dreadful financial move. But we are just leasing one car - I own my own car outright.

What's really cool is that I know we are getting a shiny brand new car every 30 months or so, and we never have to worry about new tires, timing belts, and so on.

Oil changes are about it. Of course, all of that convenience comes at great price.