Knowing when to call it a day

Wayne~

Wayne~

Wayne~

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Afternoon all,

Something I've been pondering recently when is too far with an old car not worth a great deal?

Background to this I have a 2007 Civic Type R with 156k on the clock. Has a list of niggles I won't bore you with however recently I've had the clutch done, brakes, some suspension work totalling about £1200.

Thinking the next big bill will be decision time but with the amount spent recently when would you call it?

Personal experience from anyone welcome!
 
Somewhat depends if 'calling it' means throwing £20k into an appreciably nicer, newer car or trying to replace a cheap car you've spent money on with another cheap car you don't know that might need money spending on it.
 
You could go spend £10k+ on a car and still have that list of niggles or worse. Better the devil you know sometimes. £1200 bills are never fun if you're not used to them or would prefer the money spent elsewhere, but the longer you own a car they are bound to come.

Unless it's no longer fit for purpose, I would just enjoy it until you're happy to invest in something younger.
 
For me it's a reliability question, I want to know I can get in the car and get where I'm going, the second I start to doubt that is when I replace it, because I don't need extra things to worry about. When I replace I'd get something 1-3 years old then maintain it well to get as long as possible out of it.

That said, I've been in the position of having to repair a car because I couldn't afford to replace it, that's a rough position to be in. In that case you just have to repair it, then you think after repairing it that it "should be good now", but inevitably next year it'll need something else doing.

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Throw Good Money After Bad - Meaning & Origin Of The Phrase

What's the meaning and origin of the phrase 'Throw good money after bad'?
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Depends on a case by case basis I feel. We have a Ford Focus 03 in our family. Probably worth just above scrap in that it has a valid MOT for a while. Spending a few hundred a year to get it through isn't so bad in that it still fulfils it's purpose. When the original clutch does finally go this year (on the way already) I think the car has reached the point where it may be time to call it. It's done over 150K and is battered. I assume a clutch including labour is going to be £600 ish so it sort of writes the car off.
 
£1200 isn't bad for all that work tbh and now it won't need doing again for a long time. There are Hondas with a lot more miles on them. They last forever.
 
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I remember the engine went on my car about 8 years ago. It cost about £1300 but for that they removed the old engine, got rid of it, paid for and fitted a used replacement engine, put a new clutch on, put a new cambelt / timing belt, new filters, oil, spark plugs, tested it.

It was worth it because I still have the car and I think I had a mega bargain considering Jeep charge that for a service lol.

But your car is 2007 and 156K so I honestly dont think it was worth it and you should keep it for a couple of years now to try and get the benefit of the work done and hope you dont have any other nasty bills.
 
Personally I'd keep it, unless of course you particularly want/need a newer car and can afford it.

My 2006 Volvo V70 is probably worth about a grand, I've had it a few years now and have probably spent about that on maintenance and repairs, it's intercooler has split and I'm looking at about £300 ish fitted to get a new one, the car still drives fine albeit a little down on power still, it needs doing and I'm sure they'll find something else whilst looking at it, I'd be surprised were they not to given its age and mileage.

It's on 204k miles, as I say probably not worth more than a grand but, it's never let me down, everything still works (even the air conditioning), I'd be spending in this current climate way more than I'd want to on any replacement which could easily throw me a big bill itself so I think why bother?

If you like it, which given you've spent on it I'd say you do then as I say unless you really want to change it then arguably better the devil you know.
 
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Wayne~ said:
Background to this I have a 2007 Civic Type R with 156k on the clock.
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It's a Type R - regardless of mileage and condition it's never going to be worthless. A very quick look suggests even with that sort of mileage it's still worth £3k - what else are you going to buy for £3k that's a) going to be as nice to drive, b) doesn't have issues?

Wayne~ said:
Has a list of niggles I won't bore you with
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Divide the list into 4:
Cheap/Necessary (e.g. brake pads)
Cheap/Unnecessary (e.g. Fixing broken trim, touch up paint for stone chips)
Expensive/Necessary (e.g. Major mechanical work necessary for next MoT)
Expensive/Unnecessary (e.g. Major cosmetic work e.g. respray, replacing a missing 2nd key, retrofitting Bluetooth or missing features)

Only if the Expensive/Necessary figure is large, should it be a basis to consider changing for financial reasons.
Fixing Cheap/Necessary should be done as a matter of course, but if not then get them done.
Fixing Cheap/Unnecessary are probably a lot of the minor annoyances that eat away at you and make you *want* to change car, so might make you happier with the car
Expensive/Unnecessary generally isn't done, however if you like the car, and these are the only things on your list, then worth considering


Wayne~ said:
however recently I've had the clutch done, brakes, some suspension work totalling about £1200.
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Brakes are wear and tear, Suspension and Clutch are expected to be considered for any 10 year+ old car.

Wayne~ said:
Thinking the next big bill will be decision time but with the amount spent recently when would you call it?
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It's a balancing act between your "Like" for the current car, your financial situation (can you afford another more reliable car tomorrow?), and your risk aversion (if it breaks tomorrow, how stuffed are you?)
 
It's always a bit of a stinger when a load of consumables come at once but if anything that is a reason to keep hold of it.

The time to call it quits in my opinion is one of three factors;

1) You simply want or need a change of car
2) Rust... If you get significant rust on a car you'll be chasing it forever. Not so much of an issue on most cars.
3) Major engine or gearbox issue. Something that is going to need a replacement engine or gearbox. That said, if points one and two weren't a factor I wouldn't necessarily let that be the end for the car.

By far number 1 is the biggest factor.
 
Wayne~ said:
Afternoon all,

Something I've been pondering recently when is too far with an old car not worth a great deal?

Background to this I have a 2007 Civic Type R with 156k on the clock. Has a list of niggles I won't bore you with however recently I've had the clutch done, brakes, some suspension work totalling about £1200.

Thinking the next big bill will be decision time but with the amount spent recently when would you call it?

Personal experience from anyone welcome!
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TBF £1,200 is on average £100 a month, you might spend nothing for the next year or two. I've just spent £500 on my VXR which is 14 years old, last year I don't think I spent a penny on it apart from the service and MOT. There's always the chance that something inside the engine could break at any point but it's a risk I'm willing to take (full disclosure: I do have another car but that was a want as opposed to a need I suppose).

If you know the cars history you'll know yourself if you want to keep it - it's probably worth more to you than the actual value of it.
 
I used to think they were my least favourite Type R. The EP3 was a tough act to follow and I thought the FN2 looked bloated. :eek:

One drove past me today, all red and beautifully polished, and I realised that I should have bought one when I was considering it. :cry:

I'd keep it.
 
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Apply man maths...…spend spend spend.

I bought an R53 Mini in October of last year and have probably spent around 3 times the purchase cost on mechanical gubbins. Absolutely stupid and could have bought something else, but I really like it, so down the rabbit hole I go.
 
This is the level of support I needed, two headlights to replace the cloudy ones (Fool before me fitted aftermarket HIDs which ruined them from inside) and on the hunt for a less rusty bonnet.

Now to trace the window washing issue.
Jester* said:
Apply man maths...…spend spend spend.

I bought an R53 Mini in October of last year and have probably spent around 3 times the purchase cost on mechanical gubbins. Absolutely stupid and could have bought something else, but I really like it, so down the rabbit hole I go.
Click to expand...
 
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