running cars to the ground - when a good plan goes bad?

[Anonymous]

We have 2 cars, large SUV and small crossover. 2 kids who are active/sports/etc,
We both have commutes less than 8 miles, but with our schedules/sports/carpools we need to ensure cars are available.
Vehicles are 16 & 10 years old. under 70k miles (almost all city) on both.
the 16 year old is having failures like metal fatigue type repairs so restricted to local driving/non high speed.
The 10 year old is more of the electrical manner...sensors failing and intermittent windows not going up or down, not starting every 3 or 4 months for one reason or another.

So it is the beginning of the end; as between the 2 it has been $1800 to keep them going in the last 2 months.

I have learned my lesson that running cars into the ground; while probably the best return on investment is not sustainable when both are on their last legs....

Buying 2 cars at the same time is not ideal for more than the financial outlay, rather I would be in the exact same situation again if I continue this pattern of keeping cars this long.

What would you do?

Pump more money into the "newer" 10 y/o for a year or two, replace 16 y/o now?
Replace both now and after 5 or 6 years replace one of them to break cycle?
Buy one car, lease the 2nd?

Obviously the trade in value of my cars is parts/wholesale - I could afford 2 decent 30-40k cars now if I had to, but I prefer not to end up in this pattern of both cars hitting end of life at the same time again.

Thanks!

[Anonymous]

Budget for repairs for the old cars. Be realistic. How much do you expect to pay per year for the next 5 years?

Budget for car payments for new car.

Compare

[Anonymous]

Replace the older one now or buy two newer used ones.

[Anonymous]

Anonymous wrote:Budget for repairs for the old cars. Be realistic. How much do you expect to pay per year for the next 5 years?

Budget for car payments for new car.

Compare

That is terrible advice.

Based on last 2 months 900 per month X 12 = 10,800 a year.
A 16 year old car that may have a strut break or whatever is a no option towing to a shop best case/major accident worst.

A 10 year old car that is unreliable with electrical issues may be even more annoying - kids stuck at practice or late to work/meeting or just living life in general.

It is more than a monthly payment.
Any car can be maintained to drive. Reliably and safely is the bigger issue.
I would punt both, buy one used and one new.

[Anonymous]

Buy one new and one used. Pick a historical reliable cars (Toyota or Honda) and keep up with the maintenance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Budget for repairs for the old cars. Be realistic. How much do you expect to pay per year for the next 5 years?

Budget for car payments for new car.

Compare

That is terrible advice.

Based on last 2 months 900 per month X 12 = 10,800 a year.
A 16 year old car that may have a strut break or whatever is a no option towing to a shop best case/major accident worst.

A 10 year old car that is unreliable with electrical issues may be even more annoying - kids stuck at practice or late to work/meeting or just living life in general.

It is more than a monthly payment.
Any car can be maintained to drive. Reliably and safely is the bigger issue.
I would punt both, buy one used and one new.

Well, you just don't know. The last 2 months average is not a predictor of future costs. Cars are like that. The bf of a friend of mine is not a professional mechanic, but a very good backyard mechanic (changed a Porsche transmission from manual to auto, for example), I had a talk with him once about how you decide when to let the old girl go to her rest and he said he could never decide either.
.
OP, it might help to go on some car forums because the make and model are going to be a factor. I believe the average age of cars of the road in the US is now around 11 years old.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Budget for repairs for the old cars. Be realistic. How much do you expect to pay per year for the next 5 years?

Budget for car payments for new car.

Compare

Based on last 2 months 900 per month X 12 = 10,800 a year.
A 16 year old car that may have a strut break or whatever is a no option towing to a shop best case/major accident worst.

The above is not realistic budgeting for the next 5 years. Do that instead.

[Anonymous]

I thought "running them to the ground" is about saving money. Yours are costing you money. Your ground came earlier, and you spend too much money on a car- $35-$40k is too much.
I would've lost it the first time it dies on me. Happened when it was fairly new, but hasn't dies in 7 years.

[Anonymous]

I don’t fix things like broken windows going up and down and sensors. I definitely wouldn’t spend thousands on it. Only make necessary repairs.

[Anonymous]

It depends what type of car the 10 year old car is. If it's a reliable brand that will normally run to 200K miles, I'd put some money into keeping it running. Repairs are always cheaper than $30k on a new car. $1500 a year to keep a car running is still WAY cheaper than a new car.

But if the 10 year old car is a cheaper car that probably wasn't made to last more than 10 years or 100k miles, then you may just need two new cars.

I'm more concerned that a 10 year old car with only 70k miles on it is having issues.

[Anonymous]

I’m surprised that they are having so many issues with such low mileage. I only change the oil on my 12 yo van, I don’t fix little things.

[Anonymous]

I would replace the older car with a reliable brand. Keep the 10 year old car for now. What make/models are these? With such low mileage they shouldn’t be giving you so much trouble. My dad drives a 20 year old Toyota 4Runner with about 90k. My husband got 15 years out of his Honda Accord (100k+) and only replaced it because he wanted something newer. We have many friends and relatives with Hondas and Toyotas that lasted 200k. We have had some repairs with Hondas or Toyotas but once they were repaired we were good for years.

[Anonymous]

What cars do you have?

[Anonymous]

My 2005 Subaru would randomly not start. Multiple people said the battery was fine. I finally replaced the battery anyway and no more issues. It was like a $100 fix. Maybe you have a simple solution too and just need a new mechanic?

[Anonymous]

Anonymous wrote:Buy one new and one used. Pick a historical reliable cars (Toyota or Honda) and keep up with the maintenance.

This. Get a new one and a 3 year old one.