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Date: Sun, 6 Jul 2008 09:39:36 -0500
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From: "John A. Weeks III" <j...@j...com>
Subject: Re: Economics of retaining an older car, versus a buying a new car
Organization: Newave Communications
References: <b...@z...googlegroups.com>
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<b...@z...go
oglegroups.com>,
Bhoot Nath <d...@y...com> wrote:
> 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? How critical is to
> replace timing belt and water pump stuff every 90K?
I am on my 8th Ford Ranger. I have always traded every 2-1/2 years
as the vehicle hits 75,000 miles. That has been expensive, but I
wanted to keep a nice newer truck to drive.
On my last trade in, the Ranger #7 was in near perfect condition,
but I felt I gave it away in the trade. That left a bad feeling,
so when Ranger #8 was due for trade in, I started doing some math.
I came up with, even in a worst case, scenario, I could never
outspend on maintenance what a new Ranger would cost.
Ranger #8 now has 230,000. It just passed the mark where it did
the work of 3 trucks, and now is in the area of the 4th vehicle
that I would have needed if I had kept to the plan of trading in
at 75K.
While I haven't run the numbers recently, last time I updated my
spreadsheet model, I was ahead by something like $20,000 over
where I would be if I had traded. Not only that, but by doing
all the maintenance, and replacing some key chassis bushings
(little rubber bumpers), the Ranger still looks, drives, and
handles essentially like a new vehicle.
I wouldn't hesitate to drop $3,000 into an older car. But
I think that there is some criteria that you have to consider.
The car has to be basically sound, it should have modern safety
equipment (airbags), and both the engine and transmission need
to be sound.
As far as the timing belt and water pump go, don't skip it.
In this car, the timing belt drives the water pump. The water
pump will run about 100K. If it seizes up, it will ruin the
timing belt. If the timing belt breaks, the engine will quit.
When it quits, the valves will be in a open configuration, and
then the pistons will come up to top dead center, and one by
one, bend each valve, and destroy you engine. This is called
an interference style engine, and a water pump or timing belt
issue is fatal to the engine.
BTW, don't let anyone scare you with stories about getting
stranded or stuck on a bridge. That can happen to any car.
In fact, and older car might be less likely to do this since
it has a proven track record.
-john-
--
====================================================
==================
John A. Weeks III 612-720-2854 j...@j...com
Newave Communications http://www.johnweeks.com
====================================================
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