Author Topic: car selection  (Read 704 times)

rymmm

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car selection
« on: September 10, 2017, 03:45:32 PM »
My previous car was lost in an accident, and I am trying to do some math to figure out what I should replace it with. I am home from work still for quite some time and it will be a while until I actually can test drive and purchase something, but trying to figure out what makes sense.

My previous car was a 2007, I bought in 2013 for $5,600 with 78K Miles.  When I do the math, adding together all parts & service (including tires, oil changes, etc) and subtract the insurance settlement, it cost on average $103/month-- or about 12 cents/mile.

I am realizing that by purchasing a cheap car, I really did put myself at risk leading to more injuries (Major injuries from a side impact, car had a "poor" rating for side impact), and I did spend $3,389 on parts/service over 52 months (granted all of the common failure parts were covered by warranty at this point ,so the next 50-75K miles should have been cheaper). I am thinking about buying a more expensive car to replace it. 

I was looking for a Pontiac vibe, but in my area they are super expensive used... 3-4K for cars with over 200K miles.

I kind of like the Mazda3, there is a 2013 sedan in my area with 60K miles for 9K, a 2014 certified used hatchback with 30K miles for 12K, and a 2016 certified used hatchback for 14K.  I am trying to figure out how the cost/ month on these would compare to my last car.  The 2014 redesign significantly improves safety.

I have family who bought a 18 month old certified used corolla for 16K in 2010.. have put on 110,000 miles over 94 months.  Their cost including maintenance subtracting current value shows .11 cents/mile or $122/month. The corolla had a few thousand in work done under warranty, but has needed nothing other than tires/oil since warranty expired at 100K.

Why not buy the 2016 mazda3 hatchback for 14K (longer warranty than the 2014)? I will probably look at a newer corolla too. Any other cars I should look at? I do have major back issues (made much worse by accident..) so something with a comfortable drivers seat with adjustable lumbar is a must-- and ideally a hatchback.

Looking for advice on this, and to see what is wrong with my math-- it seems most recommend buying the low cost older model cars over new or certified used.
« Last Edit: September 10, 2017, 04:58:29 PM by rymmm »

sokoloff

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Re: car selection
« Reply #1 on: September 10, 2017, 03:58:28 PM »
I tend to buy 6-10 year old cars, though there are off-lease deals to be had on some 3-4 year old car lease returns as well. I would rather leave the extra $10K invested in the market.

I do my own work on cars, so the extended warranty or CPO doesn't appeal to me. If that's not the case for you, you need to evaluate that yourself, but I'll just point out that the extended warranty companies are in the game to make a profit, not run a charity.