Paying more for repairs then car is worth

[Anonymous]

I bought my daughter's first car a 2001 pontiac with 98,000 miles on it for $2,200. This was two years ago. Since then I have spent over 2200 replacing the engine,spark plugs, a/c issues,etc. Now her headlights,dash board light won't turn on this will be 500+ to fix as quoted by our mechanic. Also the horn doesn't work this will be 200 to even get in there and see the problem,also she need new tires. The car now has 117,000 miles on it and the mechanic keeps saying its a good car just old yaddah, yaddah. Im sick of pouring money into this car. Should I just go to the dealer , trade it in and get a 2 year old car? Or stick with it?

[Anonymous]

What does she use it for?

At some level having a less than reliable car can be a blessing as it keeps her close.

[Anonymous]

She uses it for school,part time job.

[Anonymous]

Yes, if you can afford it. I'd want her in something safe.

[Anonymous]

A young woman in an unreliable car. Broken down late at night....

I would think you have the decency to get her into something safe and reliable.

[Anonymous]

Get rid of the car

[Anonymous]

Keep the car, get rid of your daughter.

Signed,

Your reliable mechanic

[Anonymous]

Have you checked to see if your car blew a fuse before dojng the expensive repairs?

[Anonymous]

First mistake. You bought a Pontiac.

[Anonymous]

Sorry OP for some of these responses...Some of these people sound like morons.

I am in the same boat. Well kind of.

I have a 1999 Mercury Cougar V-6. Beautiful car, inside + out. 99,000 miles. Paid $3,000 for it in '10 and this past three mos., have spent about $1,800 on it alone in mechanical issues. I.e., replacing 0 2 sensors, oil pan, power steering pump/hoses, etc.

It has been a money pit and people are telling me to get rid of it and buy Japanese.
Yet the mechanic tells me it is still valuable because it doesn't even have 100,000 miles on it yet, and most people keep their cars at least until 150-175,000 miles now a days. He says it has a lot of life in it.

I really don't want to take out a 5 yr. car loan, but I also wonder if all the repair costs are worth more than my car is even worth.

So confusing.

Hopefully any car experts can weigh in here.

[Anonymous]

It doesn't matter what the car is worth. What matters are 2 things:
1) Total annual cost for transportation, and
2) Value placed on reliability.

Include in 1, gas, maintenance, depreciation, loan payments, etc. For an old car that has significantly depreciated, this cost is often quite low, even if maintenance costs are higher.
Then this cost needs to be weighed against the trouble caused by a lack of reliability. It might be worth it to pay more if reliability is valuable to you.

[Anonymous]

I look at it like PP - if I spend $1200/year on repairs, but I'd spend a minimum of $200/month on a car payment, then it makes sense to hang on to my car, especially if doing so allows me to save more for the next one.

[Anonymous]

Anonymous wrote:I bought my daughter's first car a 2001 pontiac with 98,000 miles on it for $2,200. This was two years ago. Since then I have spent over 2200 replacing the engine,spark plugs, a/c issues,etc. Now her headlights,dash board light won't turn on this will be 500+ to fix as quoted by our mechanic. Also the horn doesn't work this will be 200 to even get in there and see the problem,also she need new tires. The car now has 117,000 miles on it and the mechanic keeps saying its a good car just old yaddah, yaddah. Im sick of pouring money into this car. Should I just go to the dealer , trade it in and get a 2 year old car? Or stick with it?

OP, some of these things are fairly easy to do on you own, even if you are not menhanical. I have found YouTube to be a good friend fro some DIY car fixes.

Spark plugs and any lamps are easy to do on your own.
Tires are normal wear and tear. Try for some on-line discount tires at discount tire direct. They will ship them to you and you can have your mechanic install them.

I own two well loved cars - a 2002 MB ML 320 (132K) and a 1990 BMW (90K). The former requires much more work, but there are some things I do on my own, and I also shop around and will buy parts and then have a good independent mechanic install them for a decent price.

I am about to teach myself how to reseal the valve covers on the MB. The gaskets themselves are about $20 each, but the mechanic wants $800 for parts plus labor! Ridiculous!

[Anonymous]

P.S. I would deal with those items that are safety first, like tires and then move to the next items down the list.

[Anonymous]

Get rid of it and buy a civic. Why people keep buying American cars, especially ancient ones, is so beyond me.