FIX YOUR OLD CAR OR BUY A NEW ONE -- A MECHANIC'S PERSPECTIVE

I go in depth on my view points in either fixing your old car or getting a new one. We go over the pluses and minuses to multiple aspects of that same question. What other things do you guys look at when making that decision?

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[onlyfacts]

This video is 4 years old. Things have definitely changed for people asking themselves this question. I own several cars and the maintenance they require here and there is still cheaper than buying new. My Ram 1500 cost me $684 a month. It’s a nice truck…cosmetically, but the ECU went out at just 40k miles (not covered under warranty). They also discovered a cracked exhaust manifold when repairing my ECU (luckily covered under warranty).

They just don’t make them like they used to. As a car enthusiast I have also found it extremely satisfying to buy a $5, 000 beater, and completely restore it. They treat me well and have been far more reliable than the 3 vehicles I purchased new during my lifetime.

Ignore the people that say it isn’t worth putting money into based off of some damn Kelly Blue Book, or what insurance will give you for it. The car is what you make it! You can build reliability!!! In my opinion a $50, 000+ loan over years of your life is rarely the better option.

[montevallomustang]

I keep at least 3 cars at all times, that way if one breaks I just drive another on until the first one is fixed. Three paid off cars are cheaper than one new car.

[sergiozamorano]

Fix your old car is the best choice I can tell you. Buying a new car will cost you monthly payments and a nightmare to fix it when it breaks down. New cars are so hard to fix. Even mechanics are afraid of fixing new cars. Too much technology = too many problems

[ryansutter]

My sister in law sold me her 04 Camry for what the lot offered her in trade. I paid $400 for that car 4 years ago. Serpentine belt, alternator and 50k miles later it still goes! Cost of ownership is $8.33 a month. I see no end in sight.

[dgmlxcbl]

I went to 5 dealerships, and test drove different trucks, and realized my 03 suburban was just as good. so I just stayed with it.

[brokenarrow-zzch]

As long as the frame is in great shape, I’ll throw a new engine ($5000) and transmission ($2500) in it and I’m on the road. $7500 beats $50, 000 any day

[maxvolovich]

2 of the biggest things that people know about before buying is house and car.
Buy what you can afford dont let people tell you what you need. Live to your means not to your EGO. KNOWING WHAT YOU NEED AND WHAT YOU CAN AFFORD IS POWER DONT LET PEOPLE OR SALESPEOPLE TELL YOU WHAT YOU NEED OR WHAT THEY SEE YOU IN AGAIN DONT LET YOUR EGO TELL YOU WHAT YOU WANT KNOWING PRACTICALLY IS AND MIGHT SAVE MONEY FOR YOU.
ALSO DONT BE SCARED TO GET YOUR PAID OFF CAR AND YOUR HANDS DIRTY! YOU ARE ON HERE FOR Advice so stand up and gloves up to get tools and be able to start thinking on your own.

[LongLiveJapan]

I think the current vehicle value vs repair cost is a bad way of looking at it. I think it should be more like repair cost vs cost of a new replacement car. Having a car that will hold up well on its own to start with like a Toyota Camry is a definite plus 👍.

[rlmurillo]

Great video. My old 2005 Honda’s engine just died. New used engine installed is $5700. I don’t have many options at that price that are reliable. And on top of it I like my car. I want to keep it. I am leaning toward repairing it. I can’t afford new car payments

[joebloggs]

For so long I only purchased used cars but was unhappy with their run in from new so I bit the bullet and purchased my first ever new car and keep up the maintenance hoping that with known history it'll be very reliable for decades

[Ruben]

I would say the only reason to get a new car, is when your engine locks up (this can be due to lack of maintenance) or transmission is completely done. The rest (spark plugs, brakes, radiator, tie rods, thermostat, etc) can be repairable by you, some tools and spare time.

[devonpeters]

I agree with 90% of what you shared. The only thing is I wish you would’ve spent a small portion of the video on a mechanics perspective for when it IS time to move on. I have a 2005 V6 Accord with 218k miles. It has a potential $1k - $2k repair, along with the typical window creeks and electrical parts starting to go. I have my ideas (I’ll likely fix it and keep it) but I’m curious when a mechanic would ever “throw in the towel).

[adarshguptak]

My mechanic who has 50+ years of experience always advocates me to not buy a new car.. initially I felt maybe he's trying to keep my business as new cars do not break for a while lol. But I was wrong, when I calculated, the amount of payments, taxes and high insurance you will have is higher than annual maintenance/repair costs on your pocket. Gas purchase is high for old car as new cars have higher mileage per gallon, but it is OK

[JohnSmith-zwtr]

You’re GOING TO PAY money MONTHLY no matter what. Don’t get in the mode of telling yourself “I don’t have to pay a car payment anymore!” I’ll explain. You can do it 2 ways, new or used obviously. Let’s consider used.

You can slowly replace parts on an older car monthly (while spending about what you would spend on a monthly payment). The last thing being an engine rebuild and/or transmission rebuild or replacement. In 5 years you’ll have a virtual restored car, especially if you replaced interior items also, and a paint job.

If you buy a newer car, you pay a car payment and you car gets older. At the end of 5 years; you have an older car that will begin to fail and break down. At which case you are facing another car payment for a new vehicle.

I’ve done BOTH. To me, fixing up a used vehicle is the way to go in the longrun. But, does require more planning in advance.

The key to owning a used car is replace common parts that fail in ADVANCE. Battery, alternator, starter, AC, radiator, belts hoses, plugs and coils. And later, tires, brakes, suspension as needed. Replace BEFORE they fail and you break down on the side of the road.

It might be overwhelming for the first few months, but once those repairs are done, you should be good for several years!

If you buy a used car and spend no money; it will breakdown when you least expect it. Leaving you on the side of the road when you can least afford it. It’s always gamble how long that takes.

If you want a RELIABLE car, this is going to cost you MONEY monthly. No matter you buy a new or used vehicle. In my opinion, you end up in a much better position with a used vehicle that is mostly restored in 5 years.

Best of luck!

[Tyrizzle]

Thanks for this video man, definitely think its time to let my 98 chevy cavalier go. Fortunately my wife and I can share her car, but I paid 1, 500 for it, and have put about 1-1.2k per year for 5 years into repairs for it. Think I'll just save for the next year or while I look for a new car.

[josemontano]

My car has a lot of little stuff that need to be fixed. Every time I fix one thing another thing seems to break.

[nestorgonzalez]

Wow, you make such good points on fixing cars instead of getting a new one

[TrustINTristan]

I'm a simple guy. Yes and no, this or that. I understand it's not that simple but I've always enjoyed when someone states what they would do or have done as clear as possible. Then giving reasons why. Then follow up with the scenarios or possible different options. Your very well spoken and seem knowledgable. So just thought I'd throw this bit of opinion in this.

[HunkyboiSherman]

I would say do whatever ur gut or first instinct was because that is usually a good choice

[travissierra]

So I have a 1998 Ford Windstar, 130 4000 miles on it, very low over the last 23 years. It was needing some major repairs, transmission, full tuneup serpentine belt idler pulley little of this a little of that brakes new rotors. I thought very seriously about buying a new vehicle. However we’ve had this Windstar since it was brand new and are the only owners. The body suspension tires heater AC etc. all in good shape. So it was my decision to put the money into repairing it as opposed to buying a new vehicle.