When is it time to get a new car?
Posted by Interesting-Pin-9042@reddit | askcarguys | View on Reddit | 19 comments
I’ve had my car since I first passed my driving test two years ago it’s a 2019 Hyundai ioniq and has done about 132k miles. I am not too sure if it’s better to start saving up for a new car yet I am bad at saving as well tbh but I also don’t want to get into debt either what are your signs when it’s time to get a new car?
SuspiciousArt7316@reddit
When fixing it becomes more expensive than getting a new one.
Or when frame starts rotting out and it becomes unsafe.
With regular maintenance you should get at least 200k out of most cars, probably more toward 300k miles.
Interesting-Pin-9042@reddit (OP)
Yep that makes sense thank mate, wasn’t to sure if it was a daft question to ask but as I say I’ve only driven for two years and I don’t want to make any more wrong financial decisions lol.
SoNerdy@reddit
Definitely might be time to start squirreling money away random repairs or the next possible car. But look into specific subreddits or Facebook groups for your car model and see if you can find anything that you can do from a preventative standpoint as well.
cat4dog23@reddit
Costs more to fix than worth and even then it depends. Engine or transmission is basically an instant replacement for me. my Car has 228k on it and is running great.
Current_Theme7251@reddit
I'm still driving my 17 year old Lexus, bought it 9 years ago been paid for 6 years. Never had any major problems with it. Extremely reliable even being so old. If you want a car that will last 15 to 20 years buy a Toyota or Lexus. With your car being 7 years old I wouldn't worry about buying a new car. Take care of it rigorously and it will thank you later.
Interesting-Pin-9042@reddit (OP)
I’ve always said if I ever get a new car it would be a Toyota or a Skoda. Thankfully my cars still passing it’s MOT yearly so I’ll keep on to it for now until it become To much of a financial restraint.
Tight-Opportunity-66@reddit
Being a newer Hyundai with a GDI motor, its not really known for its longevity but should last another 50k miles. Most people decide it’s time to buy a new car when a big repair bill costs more than what the car is ”worth” on marketplace. I don’t agree with this ideology though and would rather have the devil I know, than the devil I don’t know ( meaning you have a full history of the vehicle, its problems, its repairs etc. vs when you buy a new car you have no clue how it’s been treated or if it will need a costly repair soon.) End of the day it comes down to your finances and weather or not your happy with the car. Some people get bored of their cars and trade them in for something different every two years and some people buy a car once and drive it for 27 years
Ineedathiccie@reddit
Hyundai Ioniq X models are electric
Tight-Opportunity-66@reddit
They didn’t say they have the X model
Ineedathiccie@reddit
Apologies, didn't know there was even an Ioniq model without a number following it
Tight-Opportunity-66@reddit
Some are hybrid
Interesting-Pin-9042@reddit (OP)
Yep, I should have clarified the model of the car better it’s a petrol hybrid.
Tony-cums@reddit
Hyundai. 132k miles. Play the lotto.
I would have started shopping around 80k with that.
Interesting-Pin-9042@reddit (OP)
It was a taxi beforehand which is why the mileage is so high lol
adostes@reddit
Your car has plenty of life left in it.
When yearly maintenance and repair costs are the price of a better car, and unreliability becomes an issue, it's time to move on. Say your car is worth $6k and needs a new transmission and doesn't start half the time, it's done, or if it has something that can't be fixed like too much rust or bloc is warped.
_no_usernames_avail@reddit
To clarify:
It doesn’t have anything to do with the kbb or trade in value of your existing car.
The value of a paid off car is that you are saving $350-550 a month. When annual maintenance and unplanned repairs costs regularly exceed the finance terms of a new similar vehicle, and appear to be compounding, then it might make sense to sacrifice $350 a month for the next 6 years .
But even spending 3k a year for 2 years (assuming motor swap and something big like AC and suspension work) to keep a paid off vehicle running can often be cheaper than financing new.
Sure-Function-9800@reddit
I’m still driving my first car that I bought 12 years ago for $6500, 07 Hyundai accent It’s starting to have some minor problems and chew some oil (currently running 20w-60 every 5000kms) but it’s still a lot cheaper than buying a new car for now It’s personal really, but don’t think you need a new car because all your friends are buying new cars- they’re probably all going into significant debt. A 2019 should have heaps of life left in it yet
Euphoric-Pin3506@reddit
I just bought a new car and my 04 Corolla had 299,999 maxed out for the last 4 or 5 years on the odometer. I do about 5k miles a month between work school and other stuff. I only got a new car because it had no a/c and it was more expensive to fix it than the car is worth. And I have a 6 month old so I kind of neat climate control for him in the back. I would have kept driving it if that wasn’t the case though
lunchbox651@reddit
Whenever you want.
A car can last as long as you want provided you are getting it serviced regularly and parts are available.