My Camry is in perfect condition looks like a new car but being old and having 120,000 miles on it I will probably be experiencing problems and run into expensive servicing and possibly being forced to purchase a replacement car, most likely a used one, since I cannot afford a new one. What to do?
I have 2 Camry*s in my loaner fleet at my shop with over 200,000 miles. If your Camry is in great condition at 120,000 I would not give up it yet.
Yes, you will be replacing worn out parts like brakes, struts, exhaust and doing tune-ups and fluid flushes. But if your car*s foundation is solid, then keeping your Camry will be more cost effective then buying a new or newer one.
Ask your trusted auto technician to look it over. If they tell you it is indeed in "Great Shape" have them give you a list of any repairs and maintenance coming up and an estimate of how much it will cost you. This way you can make an informed decision.
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〉 Answered on Mar 17th, 2009 by Amy Mattinat, Owner and Author at Auto Craftsmen Ltd
That is the million dollar question!
I think the answer really varies depending on your particular needs and financial situation.
If you own your current car outright it may make more sense to keep up on the preventative maintenance and hold on to it. A well taken care of vehicle, especially a Toyota which are generally very reliable, can easily last you many more miles.
The questions to ask yourself are...
If you were to get a *new* used car, how much money would your budget for it be? (If it*s not much, you may just be getting another car that will need the same repairs soon if not worse)
How much is your current car worth? Could you sell it? Does it make a difference in value to sell/trade in now vs. driving it another year or so...? (check out www.kbb.com)
Would you rather have monthly payments or spend money on preventative maintenance?
Generally I think repairing is better than buying a new one... especially if you*re buying a used one, and especially if you are not having any problems with the one you have.
Any car is going to require maintenance and repairs, at least the one you have you know the history of and how you drove it, who knows when you buy a used car what problems you might be inheriting! If you take good care of the one you have, and remember that preventative maintenance is the key - it should continue to take care of you for a long time to come, or at least until you can afford to buy that new car you are really dreaming of!
Hope that helps!
180 Degrees Automotive, Inc.
〉 Answered on Mar 17th, 2009 by Bogi Lateiner, Owner and Technician at 180 Degrees Automotive
As a 1988 Toyota truck owner with 282,000 miles, I have to say that it's been much cheaper for me to do repairs as they happen instead of buying a new vehicle. Of course it helps that I can do my own repairs, but it's been much more cost efficient to keep the old vehicle running than to purchase new.
You need to see what kind of shape the vehicle is in and whether it's worth your while to do repairs if needed. Being the original owner of my vehicle is an advantage as well...I know everything that has happened to it. You just have to weigh out the cost and time of doing repairs as opposed to buying new.
Check out this article from Forbes on Ask Patty.
〉 Answered on Mar 17th, 2009 by Lori Johnson, Owner and Instructor at Ladies Start Your Engines
As long as you have taken good care of your vehicle with regular check ups and maintenance, your vehicle could still have a lot of life left in it. I wouldn*t be so quick to expect a problem just because it has over 100,000 miles on it. I have seen many vehicles with 300,000+ miles. Some of it is luck, and a lot of it is good maintenance habits. Keep taking good care of your vehicle and you may have many, many miles left.
〉 Answered on Mar 17th, 2009 by Suzanne Grego, Technician at City of Philadelphia Fleet Management