I bought a 1994 Toyota Camry with 60k miles off an old family friend over the summer. Older lady, drove the car a few hundred miles a year and had no problems at all. I bought it for $1200. In the last 6 months I’ve put around 2 grand into repairs, many of them standard especially for an old car that hasn’t been run all that much.
I’m at the point where it feels like I’m putting 400 into this vehicle every other month,
new alternator, and serpentine belt. Transmission flush. New control arms. New battery. New spark plug, and wires (full tune up because it wouldn’t start) Lots of $40-$50 misc parts that just gave out. New exhaust (old one had a few holes and wouldn’t pass inspection)
I’m not very knowledgeable about cars whatsoever, not sure if it’s worth keeping up with these repairs, I feel like they have to slow down eventually. I’ve repaired or replaced what feels like every part of this car (I’m being a tad sarcastic)
At what point should I throw in the towel here, is it worth keeping up with these repairs hoping they eventually slow down. Or should I just quit while I’m ahead
No point in adding up what you’ve spent already, it’s a sunk cost. Instead, each time you are about to incur a new expense, ask yourself what comparable car you would get if you spent what you’re about to in repairs on that instead. If you’re looking at a $5K engine rebuild, maybe you can find something more reliable for $5K on the open market. But $400? No chance.
Alternatively, consider what your Camry is worth before and after the repair. If a $400 repair means you can sell it for $2K instead of $500, its a safe bet whether you decide to keep the car or not. But again, a $5K engine? Maybe not.
And honestly, a lot of the things you’re naming now you’ll be dealing with unless you buy new. So if that isn’t an option…
Definitely worth it. If the engine is running smoothly, yes, your repairing and replacing parts that wear out with time. Those parts you’re replacing will last another 30 years from now
I don’t have any advice for you but I can say I have been a tech for over fifteen years as my primary income, working closely with a few friends who run dealerships. One of the WORST cars for death from a thousand cuts was a 1996 es300 with also 60k miles. Fix one thing a few days later something else and so on forever. Really turned me off of older cars with low miles. I’ll take one with 200k over another one with 60k…
Wow, I’ve always heard that those were pretty bulletproof. Maybe it was a lemon?
I think because for it to have those miles at this time it has to have been sitting for years. Sitting kills cars.
My friend’s algorithm for replacing a car is:
If you spend 50% of a year’s worth of car payments on repairs, two years in a row, it’s probably time to get rid of it.
For example, if your car payment would be $400: $400 x 12 = $4800. If you spend $2400 in repairs two years in a row, it’s time to consider letting it go.That doesn’t count wear/maintenance items. Brakes/tires/fluids/wipers are all routine maintenance items, and don’t count. Learning how to do your own maintenance is *well worth* the effort. Youtube is an excellent resource.
The 1990’s brought us peak Toyota. FWIW, lack of use can cause problems just like lack of maintenance. Congrats on the score tho