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To Fix Up or Trade Up, That is the Question

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  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    Nah, you have to look at these disputes as completely non-personal. Quite frankly, the insurance company doesn't chortle when they low-ball you, nor do they hang their heads and wail when you beat them. All they care about is the bottom line at the end of the year. How dutiful you were to the car, how worthy you are as a person, how blameless you were, means nothing to them one way or the other.

    Your best defense is of course an independent appraisal, but that costs almost as much money as you are trying to gain in the first place. Next best defense is good comparables that you find--but be careful, because they will retort that these are only "asking prices".

    Getting price guide print-outs might help if you pick the higher price guides, like Kelley Blue Book or NADA (www.nadaguides.com).

    It all comes down to, what we used to say in the Army "Are you sure this is the hill you want to die on?".

    So that means--how much time and effort are you willing to put into this. If your sense of justice is burning hot, then pour it on.
  • ohenryxohenryx Posts: 285
    I can't speak for where you live, but here in Texas you would wind up with a "salvage title" if you kept the car and had it fixed. And no one wants a car with a salvage title, so you would have to keep it yourself and drive it until the wheels fell off. Just another data point to enter into your calculations.

    I had a similar incident about 2.5 years ago, I decided to take the money and say goodbye to the old car.
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    Yes, definitely a consideration, the "salvage" stamp on the title---of course, after a certain age, it doesn't matter as much.

    Best thing one can do if forced to drive a car with a salvage title, is to make a photo record of the damage so as to re-assure people----unless of course it really was an awful wreck, then don't DO that!
  • hpmctorquehpmctorque Posts: 4,119
    edited May 2013
    ...best defense is an independent appraisal, but that costs almost as much money as you are trying to gain in the first place.

    Exactly, which is also why hiring a lawyer also makes no sense when the difference in dispute is a only a few hundred dollars.

    I checked the NADA price guide and mentioned to the supervisor of the insurance adjuster that the value was several hundred more than their settlement offer. He responded that his company doesn't go by the values published in the guides, but, rather, by their own evaluation of comparables . How convenient!
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    Did you see these "comparables"? Remember, they are obligated to pick cars in your geographical area.
  • raferafe Posts: 5
    My 2006 Malibu needs at least $3000 worth of work and has 350,000km on the odometer. It hasn't been bad on gas - been getting 32mpg on my commute (I drive 75% highway, 25% city).

    I am trying to decide whether to fix the Malibu or get a decent used hybrid so the better mileage gas savings can go towards the monthly payments.

    So far I have found:

    a nicely maintained 2009 Honda Civic Hybrid with 100,000 km on it and a brand new battery.

    OR

    an in decent shape 2007 Prius with 90,000 km on it.

    They are both $10,500 CDN.

    Not sure what to do. They get about the same highway mileage (as posted by EPA and average user claims). Prius gets better in-town of course, but I don't do that much city driving.
    The Civic Hybrid looks great, but I am nervous about the recent battery lifespan claims since the battery is $2000+ and the new battery means the old one was replaced after just 100,000 km. Some people are claiming theirs died at around the 30,000km mark. Yikes!

    What could I expect in ongoing maintenance for the 2007 Prius or the 2009 Civic Hybrid?
    (That will help me decide which will be the most economical including payments, gas and expected maintenance costs).

    And, what kind of mileage would I realistically get with the Prius (including winter driving commuting across South Western Ontario with very little stop-and-go traffic? i.e. not Toronto)

    FYI - The Malibu is costing me an average of $1700 a year to maintain (primarily replacing brake pads, rotors, tie rods, etc. due to the 40,000 km I drive each year).

    p.s. Sorry for the cross-post. I just found this Fix Up or Trade Up thread :blush:
  • qbrozenqbrozen Posts: 16,895
    I don't really work in Canadian, but that's north of 200k miles on the Malibu, I think. In which case, I wouldn't put that kind of money into it. Sounds like it owes you nothing.

    As for your choices, which car do you like better? If I could live with it, I'd probably opt for the Prius based on reliability and lower current miles.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    yeah the Prius would be my choice, too---the "new" battery in your Civic will only be warrantied for 36,000 miles.

    However, it's going to take you a long time to justify the expense of the Prius based solely on the improved gas mileage. You'll probably be getting 42 mpg rather than 32 mpg. That's only going to be about 100 to 125 gallons of gas saved for every 20000km you drive.
  • raferafe Posts: 5
    your right about it being north of 200k. In fact it is just north of 350,000km on the odometer. How many Miles can we expect this Malibu to last if we keep it?
  • MrShift@EdmundsMrShift@Edmunds Posts: 43,648
    Tricky question. You can keep it for 1 million km if you're willing to keep fixing it :P

    It's my opinion that the modern automobile is pretty much at the end of its useful lifespan at 225,000 miles. In other words, sure, you may see some still running, and doing really well out there, but statistically, at the 225,000 mile mark, that car is essentially an 85 year old man playing tennis on a hot day after smoking a pack of cigarettes and eating a cheeseburger.
  • hpmctorquehpmctorque Posts: 4,119
    Creative analogy!
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,898
    an 85 year old man playing tennis on a hot day after smoking a pack of cigarettes and eating a cheeseburger.

    I hope that's me, some day.. (minus the cigarettes.. )

    Moderator - Prices Paid, Lease Questions, SUVs

  • sandman_6472sandman_6472 Coral Springs, FLPosts: 2,578
    Car runs nicely but issues with the a/c which basically only works on fan speed 3 & 4. Have decided to stay the course and fix the a/c if necessary and wait till the 2014 models come out...our buying time frame is the last week of 2013 at this point as we're both just not ready to purchase yet. Budget will be $20k or less and in the compact and sub compact size vehicle. Best case scenario is for the Mazda to behave and get us through the new year with no drama and then purchase!

    The Sandman :) :sick: :shades:

    2014 Hyundai Tuscon SE/2005 Mazda 3s/2008 Hyundai Accent GLS/2009 Nissan Versa SL hatch

  • ohenryxohenryx Posts: 285
    It's my opinion that the modern automobile is pretty much at the end of its useful lifespan at 225,000 miles.

    I would agree with MrShift on this one. If you (the car owner) are not having problems, then you shouldn't necessarily run out and replace it right now, immediately, post haste. But if you're already having problems, and the vehicle is over 200k miles, well...

    I was talking with a friend just the other day. He has a 2005 Dodge 1500, which he has owned since new. Top of the line, 4 doors, Hemi engine, leather, etc. The truck has been very good to him / for him, but it's now at 230k miles. The red paint is fading, and scratched and dinged in a number of places. The leather on the driver's seat needs replacing.

    He was asking about the cost of "a good paint job, not a Maaco" and getting the seat reupholstered. I quoted him a couple of prices ($3 to $5k for the paint, $550 to reupholster one leather seat), and then told him he should really be thinking about a new truck. If he spends $4 or $5 thousand on this one, how is he going to feel when the transmission falls out next month?
  • Hi guys. Less than 1 years ago we chose Honda Jazz for my wife. And now it has some problems with the brake. A mechanic has advised us to change centric front disc for smth like that one http://www.carpartkings.com/centric-front-disc-brake-hub-124-65003.html
    But I am confused, the car is bought 10 months ago, and it already has such problems.. Maybe we should just get rid of it and choose another one, what do you think? Please share your experience connected with Honda brake.
  • qbrozenqbrozen Posts: 16,895
    edited October 2013
    I'm pretty confused, too.

    So you have a car not sold in the US, but your mechanic wants you to buy parts from a company in the US, and what you've linked is a hub, which has nothing to do with the brakes, and its a hub for a Ford F250, to boot.

    In any case, without knowing the year of your Honda or how many miles you put on in 10 months or what type of driving your wife does, it is tough to say whether they wore out early or not.

    I almost never replace parts with the same that it came with from the factory. For the most part, on your more mundane and inexpensive vehicles, manufacturers are using the parts that are just good enough to get the job done so they can keep costs down. You can almost always find superior parts on the aftermarket.

    '13 Stang GT; '86 Benz 300E; '98 Volvo S70; '12 Leaf; '08 Town&Country

  • Age old question...
    Problem is most TCO calculators consider depreciation and interest, etc. If I buy another car, I'd pay cash for a 1-owner vehicle around 5 years old.

    Current vehicle is 2003 Lexus RX300 with 230,000 miles on it.
    Entire brake line was replaced at 100,000 miles.
    Engine was replaced due to bad bearings in oil line at 130,000 miles.
    Motor mount has been replaced.
    I'd have to look through to see what all else major has been replaced.
    Now I've been told I have a bad CV joint (clicking around turns), transmission pan leak (they've been telling me this for a while but I guess now it's critical), power steering leak at pump, somthing else in power steering gearbox, and an oil line leak.

    Option A - only so much can go wrong with a car. Body is perfect. Get a second opinion, repair as needed, and go on.

    Option B - sell the Lexus and put cost of quoted repairs toward cash for a 1-owner vehicle that's about 5 years old. I drive 12-15,000 miles per year. Better fuel efficiency would mean roughly $500 is gas savings annually. Car ins would likely not change much.

    Option C - wait until Lexus completely craps out, then take spouse's 2006 Prius and get spouse a junker (spouse works from home/ drives less than 5000 miles per year)

    Option D - something else?
  • Dealer estimate is $4000 for repairs. I'm going to quote this out since the car is old enough to not directly benefit from the Lexus warranty program - although all previous work was by Lexus dealer.
    I'm hoping to get the repairs under $3000 by finding used parts and not using dealer service center labor.
  • ohenryxohenryx Posts: 285
    I think I would unload that Lexus and buy something with fewer miles. 230k miles is (in my opinion) getting really close to end-of-life for most cars.
  • Michaell@EdmundsMichaell@Edmunds ColoradoPosts: 1,175
    230k miles is (in my opinion) getting really close to end-of-life for most cars.

    +1. $4K is a lot to invest into a car with that many miles.

    As to which option to take regarding a new vehicle - get something a few years old and drive it into the ground like you did with the Lexus.

    michaell@edmunds.com

    Moderator, Prices Paid and Leasing Experiences

    2013 Hyundai Elantra GT / 2010 Mazda CX-7 GT / 2014 MINI Countryman S ALL4

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