What to do when my car finally kicks the bucket?

[-RJ3-]

So I've been debating whether or not I should buy a new car if I see signs of engine trouble.

Yesterday I realized my car is rare as it is a 2004 (newest and first of the 3s) with almost hitting 209,000 km

Car stil runs like a champ but when the signs happen. I'm weighing my options and the reasons for it


1) engine swap and add a turbo.
Pro. Keep car longer and have a stronger drive train
Cons. Engine could have issues if it were to be a lemon
Pro. Payment in full. Not needing to buy another car with monthly payments
Cons car eventually will rust out
Pro. Have connections to remove rust and repaint and the most could be 13 grand for new engine and body work at most


1) buy a new car
Pro. Reliable and not worry about car issues till later
Cons. Monthly payments. In addition to mortgage payments

Pro. Can buy a stronger engine or reliable fuel economy car
Cons. Car won't be as powerful if i where to go to the fuel economy route

2) buy used car

Pro. Cheaper to purchase and could pay in full
Cons. A lot of research to ensure car has not been wrecked or major damage/maintenance from previous owner
Pro. Could be a diamond in the rough
Cons. Could be a lemon
Pro. Cheaper than new car
Cons. Could pay more to maintain and not have the knowledge of the car


With the above mentioned, I'd like advice, experiences or thoughts of what would be the best and most practical way to prepare for this.

[KenYork]

ride a bike. drivetrain is as good as you are. good on enviroment. save on gas. :chuckle

[XTOTHEL]

I support buying a new car. I don't see the monthly payments as a con. With engine swap or used car, you most likely have to put out that large amount of money right away. As to monthly payments that will be less of an impact to your bank. You could use the extra money to pay off more of your mortgage, which probably has a higher interest rate than your car payments (you can get 0% financing).

New car like you said, is also the most reliable hassle free option. It is probably also the option that will last you the longest out of the three.

[-RJ3-]

ride a bike. drivetrain is as good as you are. good on enviroment. save on gas. :chuckle

To my work lol not practical

[-RJ3-]

I support buying a new car. I don't see the monthly payments as a con. With engine swap or used car, you most likely have to put out that large amount of money right away. As to monthly payments that will be less of an impact to your bank. You could use the extra money to pay off more of your mortgage, which probably has a higher interest rate than your car payments (you can get 0% financing).

New car like you said, is also the most reliable hassle free option. It is probably also the option that will last you the longest out of the three.

Wow! Didn't see it that way! Very good reasons! Keep this debate going!

[SKYMP3]

New car...especially when dealers are offering 0% at 60 months or so. Plus it is a NEW CAR!

[Dave_The_BMXER]

I thought about a new car but no payments is pretty damn sweet so ill be keeping mine for at least a year.

I thought long and hard about boost too but decided against it. With it being my daily drive all year I don't really have any time to take it off the road more than a weekend and deal with the boost and I'm not sure I could get it done in that time.

My problem with a new car too is I want a turbo hatch and since the redesigned the speeds those are out, the veloster I don't like the front end, and STI's are still a little high for me.

So I wait.

Oh I will never buy a brand new car as I would void the warranty within a month.

[The Wolf]

I've thought about what to do when my 3 is all paid off too. I think the plan is to keep it as long as its reliable, and supplement it with a fun and fast summer/weekend car like a turbo miata or rx7

[sammifan]

I would go with a new car if APR is 0% and you can budget it in with your mortgage.

[Karmaspeed]

New car...especially when dealers are offering 0% at 60 months or so. Plus it is a NEW CAR!

This is what finally won me over to getting a new car and not getting a used one. Go for a new one; you can be one of the first to have the new speed3 look if your engine starts to act up next year, and imagine all the new mod's you can start playing with and keep your winning streak going ;)

[peterm15]

My suggestion is to get a new car BEFORE you car kicks the bucket. Repair bills tend to stack up the closer a car is to dying.

[Sonic31]

My thought is since your current ride is paid off, buy new but keep the old mazda.

New car, fun daily driver, possibly more powerful, possibly more fuel efficient depending on what you get, no reliability/repair worries.

Old car, track toy, best part is if the egine blows itself into a million peices one day at the track, meh no biggie. Sell the parts, pay off part of the new car and enjoy the memories.

[zzz3]

Since it hasnt been giving you any problems, I would keep the existing car until the cost of repair exceeds its value or return on investment for said repair - will it enable you to run the car for another 2-3 years? And do you want to drive it for another 2-3 years?

As for a new car 0% financing is not 'free'. You pay for it by forgoing the cash incentives which is the 'real' price at the retail level. Why would you finance a depreciating asset over a long term like 60-72 months?

A better option is to buy a used car that is 2-3 years old (i.e, a cpo). It has already incurred the rather large percentage of depreciation that all new cars experience the minute they are driven off the lot. Furthermore you still have the balance of warranty and can supplement it with an extended warranty should you choose with the savings (i wouldnt, but thats another discussion). Of course, buying a used car involves 'work' such as checking its history etc., but the money saved is well worth the effort.

'Because its new' (sic) is the easy/baller way...

[eSS]

Was in the same position you were in when i got my 3 a little over 3 weeks ago. I ultimately decided on a new car just because for me personally I wanted a new car for the reliability and not running into any foreseeable issues. Compounding that I always had used vehicles to begin with. My first was a 97 then a 03. All depends on your own preference and budget.

On the flip side before even getting the 3 was considering an rx8. I had done all my research and owned a rotary before but just financially wasn't ready to own one with gas prices and preventative maintenance

[midnightfxgt]

Since it hasnt been giving you any problems, I would keep the existing car until the cost of repair exceeds its value or return on investment for said repair - will it enable you to run the car for another 2-3 years? And do you want to drive it for another 2-3 years?

As for a new car 0% financing is not 'free'. You pay for it by forgoing the cash incentives which is the 'real' price at the retail level. Why would you finance a depreciating asset over a long term like 60-72 months?

A better option is to buy a used car that is 2-3 years old (i.e, a cpo). It has already incurred the rather large percentage of depreciation that all new cars experience the minute they are driven off the lot. Furthermore you still have the balance of warranty and can supplement it with an extended warranty should you choose with the savings (i wouldnt, but thats another discussion). Of course, buying a used car involves 'work' such as checking its history etc., but the money saved is well worth the effort.

'Because its new' (sic) is the easy/baller way...

Ummmm... This is about the best reply by far. I agree with all of it!

[Dave_The_BMXER]

Agree with zzz3 as well.

[Booter22]

Yesterday I realized my car is rare as it is a 2004 (newest and first of the 3s) with almost hitting 209,000 km

your car is rare? is that because there is not many 2004s on the road? :P kidding but still i would keep it until your car dies. remember when buying a new car which knowing how your car is now wont be stock for long anyway. but say your new car costs you $300 a month, at 12 months being $3600 a year. if your current car and repairs do not cost you more then $3600 a year. keep it and keep fixing it until you get to a big repair like an engine and just let it rust away ( i know its sad but why spend the money on rust repairs, you and i know its money not worth a repair as the rust will come back) and just keep driving your car, repair what needs fixing as you dont have any more mods to do now ( at least i dont think you do) where the new car will cost you $3600 a year + what ever you want to mod.

long and short of it. keep your car till it dies and get your moneys worth.

[Dave_The_BMXER]

I'm the opposite with rust repair I see it as maintenance.

I have a bit of an OCD about rust though.

[mazdabetty]

your car is rare? is that because there is not many 2004s on the road? :P kidding but still i would keep it until your car dies. remember when buying a new car which knowing how your car is now wont be stock for long anyway. but say your new car costs you $300 a month, at 12 months being $3600 a year. if your current car and repairs do not cost you more then $3600 a year. keep it and keep fixing it until you get to a big repair like an engine and just let it rust away ( i know its sad but why spend the money on rust repairs, you and i know its money not worth a repair as the rust will come back) and just keep driving your car, repair what needs fixing as you dont have any more mods to do now ( at least i dont think you do) where the new car will cost you $3600 a year + what ever you want to mod.

long and short of it. keep your car till it dies and get your moneys worth.

+1 to this. RJ you have a LOOONG way to go i think, Gab's 2004 is almost at 250,000 and is running great ;)

I think Gab's plan is to keep his as well until it dies, even just as a winter beater. It depends on your financial situation but if you can afford a new car without the trade in value if your current car, and you have the extra space in your driveway, I say keep it and buy something fun to play with in the summer!!!

[rajin929]

+1 with zzz3 as well.

Get an affordable, reliable, certified pre-owned car that is just as good as new. Pay as much as you can and even if you have to finance the rest, try to pay it off in a year or two.

But like others have said....do that when your current car bites the dust for good

[RedRaptor]

Hey Ryan!

Good to hear your 2004 is still alive and going strong! My 2004 is 8 years old with 215,000+ kms. Original engine which doesn't burn any oil and original 4AT transmission. I recently added a transmission cooler as a preventive measure and for towing. I'm debating whether to add a OEM engine oil cooler as well to the engine.

Car payments suck. They don't suck when you're in your 20s and living with your parents. But when you have your own place and your own little family, you don't want to put down $400-$500 a month on a car.

[-RJ3-]

Wow thanks for all the feedback guys!!! I especially like ZZ3... I will keep this car till it dies, but one thing is for sure, I have no room nor space for another car...

garages are full, and my condo only has one spot.

So in the even it ever dies, I have to quickly Eye out on another car, 330 on half tank.. For some reason my fuel economy improved lol..

and agree with RR I dont want additional payments because of my mortgage...

You guys are great!

[trulankan]

i think u should keep your car as well, its a real beauty. At 215k you prob have 2 more years until you might start running into problems. Once, you hit over 250k then evaluate how the cars running and go from there. Me personally, I dont feel getting a new car is worth it even with all these financing options as u will be stuck making payments for years (unless u have to option to pay it down). If u are good financially then u can go for it. New cars just keep losing value unlike buying a house. Get a used car thats a few years old. That being said, my next car might be a new one, depending on how long my 3 lasts and where I am in my career and life. I am hoping my car lasts 300k.

[-RJ3-]

Thanks buddy! I will do that! I love my car to death!!!

[aris]

Drive it till it dies.

i plan on keeping my car for another 4 years... By then I should have over 300,000km but as Long as the body isn't shot ill keep driving it... But if the body starts to rust the cars gone lol

[-RJ3-]

Yeah rust on the rear quarter panel but thats a given for these cars... Thinking about redoing them and having the car repainted with pearl.. probably 4grand after its all said and done but its a risk if my car can reach to 300,000.. Its like Black Jack at times.. Should I hit???????

[p-o-g-i]

zzz3 ftw!

But check your overall expenses and make sure it's in the budget. Especially since you have a mortgage.... the last thing you want to do is miss a payment on that.

[-RJ3-]

im keeping the car till it dies... 0 payments FTW!

[Jackal]

im keeping the car till it dies... 0 payments FTW!

Great idea! I can't wait till I have 0 payments.

[p-o-g-i]

im keeping the car till it dies... 0 payments FTW!

Great for your net worth :)

[MarkWB]

Well, when it DOES die, I say you give it one punch...just for the hell of it (avoid the glass parts).

[trulankan]

Well, when it DOES die, I say you give it one punch...just for the hell of it (avoid the glass parts).

lol why punch it? after all that hard work modding it

congrats on 1k posts btw :P

[MarkWB]

lol why punch it? after all that hard work modding it

congrats on 1k posts btw :P

LOL, I don't know really, I just imagine a guy standing next to his dead car and punching it...priceless lmao

And thanks, I knew I was close but I didn't notice I'd actually hit 1k till now aha

[SilentJay]

Hmm... Interesting points to ponder.

0 car payments is nice (just got there last month) but I'm probably going to need a windshield and at least shocks/springs, maybe a paintjob for the front end...

[aris]

Hmm... Interesting points to ponder.

0 car payments is nice (just got there last month) but I'm probably going to need a windshield and at least shocks/springs, maybe a paintjob for the front end...


I've all ready had to replace rear shocks and I painted the front clip... $800 just to paint the front clip

[RedRaptor]

Ryan, get a nice exterior and interior detail and it will feel brand new. :)

[trulankan]

I've all ready had to replace rear shocks and I painted the front clip... $800 just to paint the front clip

$800 for the bumper or just the lip?!? thats crazyy!

[sudz]

Personally, If my car were to die right now, I'd start buying 1000 dollar beaters. if they last 4 months, they're cheaper than monthly payments on a new car. Assuming you can nurse a year outta them, your ROI is great. You just have to SAVE in case the car dies quickly.

[aris]

$800 for the bumper or just the lip?!? thats crazyy!

My front end has was white from all the stone chips... Bumper, hood, and both fenders had to be stripped down and repainted.

[asyed]

if my car were to die into an unrepairable state.... id take the dash/seats and make an epic gaming c.o.c.kpit :P

[sudz]

I just looked for a "Like" button.