Do you think I...?

Question

Should get a new car? I currently have a used 2000 Oldsmobile Alero 4 door sedan. It has been having problems overheating, which is going to be about $1,000 to fix, and also needs a $100 window regulator. I've already put around $800 into it. It cost me $5,500 to buy the car, May 2007. It's almost 9 years old, and things are going to be going wrong with it. Should I get a new car and not worry about anything going wrong? Or should I get my current car fixed and deal with all the problems it's going to be having in the upcoming future? If I'm going to be buying a new car, it's going to be around $13,000. I just want some opinions. Thanks. :)

Answer 1

Generally, it would be wise to get a new car after 5 years. Cos after 5 years, that's where a major 'overhaul' is expected due to wear and tear. If you get a new car, looking at the current car market in today's situation, you should be able to get more freebies with it, like free servicing for 3 years, etc. Shop around and you should be able to get one that will help you into the next 5 years.

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Answer 2

Wow this is my life with my Oldsmobile!  I got it with 93,000 miles for $5,500. It cost about $50 as month to upkeep. Then at 200,000 miles it was costing about $700 a month to maintain. So I got a Honda CRV with $450 a month payments, this saving 4250 a month.

The scary part about older [American] cars is that you have NO IDEA when they are going to reach into your back pocket and take your wallet, spare change, and next week's paycheck. Peace of mind has value too. Dump the car when it costs more than a new car (calculate insurance costs too) and isn't getting prettier.