I currently own a 2011 Hyundai Accent hatchback that I baught brand new at the end of 2010 for $8,999 from the Hyundai dealer. Ithas 75k miles on it and that leaves me with 25k more miles for the power train warranty.
The little car has been great with no problems till recently, one of the coil packs went out and I replaced all four and it ended up costing me 3 hours of work and $75(includes time sourcing parts). I also had the window hand crank brake inside the door, that also costed me 4 hours of my time plus $90 for parts. Over the weekend I was driving and heard a loud clunk sound and the followed with a exhaust leak and a loss of power. I took it to the dealer and the dealer found the problem . the catalytic converter and exhaust manifold were completey rusted and came apart. The dealer had to order the parts and it was covered under the warranty. So this is three problems in the last 4 months. I'm worried that this is what is in the future for this super cheap car.
I can sell the car for $5,500 and that would be a depreciation of $3,500 for 4 years of driving and it got great gas milage. Making it probably almost the cheapest way to commute with a car.
Now that the car is plagued with repairs is it cheaper to buy a new accent and keep selling every 4 years? I haven't priced a 2015 accent yet, I'm thinking I won't get one for $9k new again.