Bhoot Nath <d...@y...com> wrote:

> My wife and I are planner, saver types; we also had good fortune of
> being born to families who stressed hard work and education and as a
> result, we both have good careers, and have become financially
> comfortable, without any inheritance :) Spouse was able to switch to
> 1/2 time, as one child started kindergarten last year, and seocnd will
> start next year.
>
> One of the elements of frugal planning is that, until we got quite
> secure, we only buy what we needed, not what is advertised. So we
> stayed, 1 car family, from 1996 thorugh 2004. During this time, the
> 1996 model Honda civic was driven an average of 25K miles/year. In
> 2004 we got another car (smallest SUV), and since then the 1996 civic
> has been driven about 4K/year.
>
> I have done every scheduled maintenance, without fail, and oil changes
> all along, so the car runs (and has always run) without any issues,
> and the emissions are very low, always only 2% to 5% of the levels
> required for SMOG. So that's not at issue.

What you are saying above is that there is absolutely no reason to get
rid of the car. As such, I'm not sure why you are even asking the
question.

> Now the civic paint is peeling, and a cheap repainting at Maaco is
> estimated at $800.

If they have any idea what they are doing, even a cheep paint job should
last 4+ years. That's $200 a year.

> The car will hit 180K miles in a few weeks, and is
> due for the major maintenance + the timing belt + water pump stuff
> that is done at every 90K miles. All of this is estimated to be about
> $1500.

So this $1500 investment should last 90K miles, at 4K miles/year, that's
$67 per year.

> I estimate tires and brakes also, probably within a year, for
> another $700 or more.

All of which should last at least 40K miles or $70/year.

You are griping because the car cost $337 per year in maintenance?

> The car is probbaly worth 3500 due to mileage + usual wear and tear
> after 14 years (& some dings), but no mechanical problem. We would
> like to keep this car (we are not itching for a new car smell), but
> does it make sense to put $3000 into a $3500 car?

Let's outline two options.

1) You invest the $3K into this car and it will be worth maybe $1600 in
5 years. Total cost $4.9K

2) You invest $10K into a very good used car which will be worth $4400
in five years. Total cost $5.6K. Or maybe you end up buying a car that
has hidden problems and it cost you even more...

I say go with the devil you know, and think about what that little Honda
would look like if you dumped the full $10K into it! It could end up on
the cover of magazines!

> How critical is to
> replace timing belt and water pump stuff every 90K?

The timing belt and water pump could probably last another 10 years at
the rate you drive the car, but if the timing belt goes out, the car is
done for.

> We can afford a new car, without loan, and it won't impact our other
> savings, yada, yada, but I feel crummey having to "throw-away" a
> perfectly good car...

Well hell. If you can afford it and it won't impact your savings, then
get a new car. Instead of throwing away the old one, give it to a worthy
cause and take a tax deduction while feeling good about giving.

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