Author Topic: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved  (Read 2343 times)

Kroaler

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Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« on: August 14, 2015, 11:20:19 AM »
Hey guys,
Im always looking for ways to to be more frugal. Im very good with car repairs, there is no job I don't feel comfortable with. With that in mind my wife current car is a 2014 ford focus fully loaded that we gave 16,500 for recently that currently has 17k miles. Were considering downsizing to this car    https://greenville.craigslist.org/cto/5160909778.html       My wife likes it. Im blessed that she has a frugal mindset. We currently owe about 15k on our Focus. Also the guy said he will take 3500 for the pontiac vibe so I can buy it outright.

What is everyones thoughts? By making this move I calculate that we free up over 10k dollars that can be invested over the next few years instead.
 
So in summary:
1.) Current car,  2014 Focus worth $16,500 kbb that we owe 15k$ on with 18k miles.
2.) Car were looking at.  2004 vibe, kb value 3500$  156k miles
3.) Adjusting for average maintenance, this should leave me with over 10,000$ that can be invested instead.

Does anyone see a downside to this, or have other recommendations? Perhaps what you would do in my situation. Also my wife commute is 11 miles, mostly back roads average 45 mph speed limit. 

Matt_D

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #1 on: August 14, 2015, 11:36:27 AM »
Sounds great to me, long as the Vibe doesn't currently have major issues. They have a solid reputation, get good mileage, and parts should still be easily available since the Vibe is twin to the Toyota Matrix. Getting out of $15k in debt is definitely a worthy goal!

Only thing I'd consider is that vehicle life expectancy is significantly lower... but if you're a car guy you can probably pull it along past where others might give up.

Rollin

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #2 on: August 14, 2015, 11:44:03 AM »
Just picked up almost same car for $3,700 with 160,000.  That price is a good start and usually can get a few hundred off.  Mine didn't need tires or brakes, but a week after purchase it did need a $350 starter.  Since then has been great.  Of course if the door handles have not been replaced you'll want to look at a youtube video to see how to replace those once they break :)

They can be great cars, but like all cars need to be maintained well.  I see that it is four wheel drive.  I am not familiar with that at all, but also see that it is an auto.  They have clutch problems with the sticks, so auto is better deal.  You may want to research any issues with the 4 wheel drive.

Kroaler

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #3 on: August 14, 2015, 11:50:27 AM »
Wow what are the odds that someone else bought a similar car and read my post.  Must be my lucky day. I appreciate the responses so far.   

Sibley

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #4 on: August 14, 2015, 12:25:52 PM »
I had a 2007 Pontiac Vibe. I loved that car. Good with gas, tons of storage space. LOVED that car. It got to 5 years old with me, mechanically it was good. Had to do a tiny bit of non-maintenance work on it - a small motor that controls if it was recirculating air or not had to be replaced, and had to replace the inside of one of the wheel wells (it got loose somehow).

Someone crunched it for me :(

AlwaysLearningToSave

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #5 on: August 14, 2015, 12:46:16 PM »
I have a 2003 Pontiac Vibe that I have had for at least five years and been pleased with. 

Here is a link to a recent thread with a similar discussion:

http://forum.mrmoneymustache.com/ask-a-mustachian/would-i-be-crazy-to-swap-my-cruze-for-a-vibe/msg763948/#msg763948

Unlike the owner in the other thread, I think you could significantly benefit from swapping for the Vibe.  Biggest differences are the fact that you owe money on the Focus and that you are handy enough to take on whatever mechanical issues you might encounter.

EDIT:  One additional difference is that your wife has significantly shorter commute. 
« Last Edit: August 14, 2015, 12:51:26 PM by AlwaysLearningToSave »

AlwaysLearningToSave

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #6 on: August 14, 2015, 01:22:17 PM »
I just now followed the link to the specific car you are looking at.  I say jump on it!  The photos make it appear to be in good shape and the fact it is 4WD likely greatly reduces the biggest complaint I have about my 2WD version-- poor snow handling.

Kroaler

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #7 on: August 14, 2015, 05:20:27 PM »
Well i bought the car.  No regrets.  When I look at the car I'm 60% looking at the owner and 40% looking at the car.  It was an older gentleman, mechanical engineer.  He only use mobile one synthetic and showed me all the little odd an ends he kept up to date on. Also he still had the original window sticker in the glovebox!    He had all the recalls performed as well.   CaR drives great. I was gonna shoot for 3500 but when I saw the original window sticker I was content paying 3600.  Honestly i was surprised a car with this many miles can feel as stout and planted with this many miles.  Reminds me of the little Toyota echo we had, just a general fun car and the price keeps making you smile.
« Last Edit: August 15, 2015, 01:44:44 AM by Kroaler »

AlwaysLearningToSave

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Re: Should I downgrade to this Pontiac Vibe? Extra 10,000 $ saved
« Reply #8 on: August 14, 2015, 06:11:31 PM »
I'll bet it is a great car for you. Congrats!