Thu 3 Jan 2008
I forgot to knock on wood - death of MFJ’s pimp ride version 2
Posted by MFJ under General , Frugality , CarsSo on January 1 - I’m rehashing my favorite articles for the year and I bring up the post from early last year where I bought myself a new car. I suffixed the article with the comment and I quote “still as pimp as the day I bought it. I’ve also had zero issues with the car since I bought it (setting myself up with that statement)”
So the following morning I’m driving my car to work when I start hearing some clunking coming from my front right tire, my car is pulling right, and my brake lights are coming on. I keep driving to work but the clunking, pulling, etc keeps coming back. The car was overdue for an oil change so I figured I’d suck it up and take it to the shop and see what was wrong. Well long story short - turns out I need two new drive shafts, a bunch of exhaust leaks fixed, something about a resonator pipe, clutch, air filter, you name it. Grand total would be about twice what I paid for the car (I paid $700)
In theory I think I would only *need* to fix the two drive shafts which would come to $387, but when you only pay $700 for a car you never really plan on doing much maintenance work on the car (at least that’s my opinion). SO right now I’m in the market for a new car (in the frugal sense of new car). If I can’t find anything in the short term I may end up biting the bullet on the drive shafts, but unfortunately it looks like I’m probably better off rolling the dice with a new beater.
So was this car a total failure and proves that you can’t consistently spend less than $1000 on a reliable car? To be honest I think my off the top of the head goal is to have the car last more than a year. If I can spend less than $1000 a year in car costs I think I’m doing ok. This is by far the shortest I have owned a car before something major happened, but I still owned the car for almost a year, only paid $700 for it and will get at least $100 back when I take it to the scrap yard. So $600 for 10 months of reliable service still isn’t the worst problem to have. The best part is I am in no way tied to my cars if something bad happens. I am in no way obligated to have to fix them and if something bad like this happens I can just laugh it off - although I really did enjoy this car and am upset that we will be parting ways so quickly.
What do you think? Am I an idiot? Should I be spending more on my cars? I only use my car to drive to work and run errands, my wife has a relatively newer/nicer car (99 Accord).
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January 3rd, 2008 at 6:43 pm
It’s always sad when a beater finally bites the dust. Hopefully your bad luck won’t rub off on me for posting this, but my 1991 Chevy van is still going strong!
February 10th, 2008 at 11:53 pm
Why not pay $5k for something that might run 10 years? Would that be a better investment instead of a true beater?
February 10th, 2008 at 11:54 pm
I forgot to add there is the added incentive of not having to spend time looking at cars every year. That’s priceless.
February 11th, 2008 at 9:31 am
Well the goal was always to find something for under $1000 that would run at least 3 years. In your case yeah it would be great to find something for $5000 that lasted 10 years, but I would say the odds of that happening probably aren’t any better than a sub $1000 car lasting 3 years and if you choose wrong and the car dies after 1 year - you are out $5000 and I’m only out $1000 or less. I don’t like putting all my eggs in one crappy car
That being said we currently bought my wife a Honda Odyssey for $8k and I’m driving her 99 Accord that is worth about $7k until I can find a new good beater or just plain give up on it and keep driving her accord. That being said though I don’t think there is anyway that Accord is going to last 14 more years, but as you pointed out its a crapshoot. I generally tended to lean towards cheaper cars and just try to eak a few years out of them and that’s with absolutely no repairs. It would have cost me $387 to fix the drive shafts on my last car and I decided not to.
I also agree that not having to buy a new car each year is certainly worth something