Should i sell my current car and buy and 2nd hand car to run away fixing it?

[giagwe]

Current im driving a 13yo inspira. Ive put over 6k already in fixing the car and i can see i might be spending another 7-10k just to fix other problems that it has, that includes the whole undercarriage, aircond, steering rack. And the car also about to reach 200k km which means engine rebuild might come in any time.

So im thinking to just sell the car, market price probably 20-23k based on online research. And add another 7-10k for a "better" 2nd hand car in cash. And hope to god it will run in another 5-7 years, with a little fixing and replacements.

Not buying a new car because im not interested in sub 80k new car market. Better to build up my career for better salary/savings and settle in with a good new car.

So is it wise to do so? Should i keep fixing my current car or just buy a 2nd hand car? Also any recommendations are welcome

 

[resjudicata]

@giagwe 200k km in 13 years is not a lot of milage. What had you fixed?

I list the stuffs that you need to fix for extending life for safety and comfort.

1. Engine top overhaul, radiator
2. Aircond
3. Whole suspension system replacement
4. Repainting

How is reputation and reliability of the transmission?

If you are partially happy with the car, just spend another 20k on original parts that gives you reliability and comfort for another 5 years.

You'd never know conditions of other 2nd hand cars, they might be worse

 

[giagwe]

@resjudicata Aircond blower, cooling coil (original)

Brake disc (aftermarket new brembo, not the fancy ones because i have trust issues with refurbished)

Wheel bearing (original aftermarket NTN, mitsubishi uses NTN but with mitsu box extra price anyways)

Radiator fan (ori)

Spark plugs (ori)

Absorber (aftermarket)

Engine gasket (ori)

Starter(ori)

And other small things which i already forgotten but its 300-500 price range.

Engine is 4b11 so reliability should be very good. Tho im not sure about the CVT gearbox.

i dont think its worth to invest another 5 digits on the car. I can see it will be snowballing for the next 3 years.

Im happy with the car, it drives well and im too comfortable with having big engines thus driving 1.5 or below cars feels like kicking empty tin milo (inclusing honda and toyota 1.5).

Thus if i can just get whatever i can for a reliable 2nd had that last another 5 years and settle in for a better car later. The snowballing of fixes and repairs makes me 50/50 to keep it or sell it

 

[resjudicata]

@giagwe I don't see your list having problematic parts. If you buy a 2nd hand car, you need to replace the parts too. Assuming you pay 1k per month to buy another car for 2 years, you already have 24k in hand to do the replacements. If 24k replacements can hold for 4 years, your amortisation averages 500nper month.
While replacing the gaskets, you can do top overhaul to grind the valves, check the piston rings and cylinders and polish the pistons and engine heads.

 

[giagwe]

@resjudicata Its not problematic as in a lemon car. Its more like "time to do this and that" and it will cost more overtime.

If its a 2nd hand car that need replacements will it i need the same kind of replacements as what my current car needs? Might be cheaper as well, provided if i find a good car

 

[resjudicata]

@giagwe second car might not get full parts replacement, it's temporary use.

coming back to doing up your car, you get to enjoy the car and have added value if you need to sell

 

[johnsteam86]

@giagwe I’d go for the latter. Stop fixing and sell.

 

[lorraineldg3]

@giagwe Let's say you are willing to spend 1.2k per month on a new car, that equates to 24k per year.

Is your current car repairs expected to exceed 24k per year? If yes, sell the car.

If not, what is your threshold of acceptable repairs per year before you become more willing to pay 24k per year for a new car instead. Do you expect your car repairs to hit this threshold on a per year basis over the next 5 years? If no, keep the car, if yes, sell the car.

 

[giagwe]

@lorraineldg3 Last 2 years was 2k+ excluding maintainence. Last year was 3k+. Its only mid feb this year and its already costing me 1k and the AC compressor might need to be changing real soon because the fan is not cool anymore. Already changed the cooling coil and service earlier this month. AC compressor change might be 2k+ tho

So its basically a snowball of wear and tear and im not sure to just suck it up or sell. Fix one thing and another one will break.

Wear and tear will always be there but atleast a car that doesnt snowball like this would be a better choice in financial perspective no?

Also im not willing to take loans at the moment, so till then i need a car that can just move without making much problems for a few years

 

[impactb13]

@giagwe As an owner of a 31 year old accord, bought used 16 years ago with 280k on the odo and subsequently another 300k, I am quite shocked at the amount of work needed for your badge engineered Mitsubishi..

Mine is still on its second clutch, second timing belt. Changed alternators twice, one radiator header (15 years ago), head overhaul and that's pretty much it with 2 sets of shocks and 6 sets of tyres, 3 sets of brakes and one set of disks more or less.. Bought it for 18k and probably spent another 20k overall for repair, maintenance and another few k for fuel...

Last big expense that was necessary was full body rust repair and paint. That set me back 5k at a place in Segambut.

I don't regret not buying new at all. Had a succession of new cars but the prices are eye watering when you consider it's depreciated by at least 10% by the time the ink dries!

My 1st Corolla SE was 44k. Second SEG was 97k. 123K or something by the time the loan was settled. 1997 interest rates were high...

Looking to do an engine overhaul as my final deed. Last car for me. Driving is a health hazard in bolehland these days. Gotta catch the last mechanics who can do simple ICE cars before they leave the game.

 

[gilly48]

@giagwe Sell inspira, buy a new saga AT.

 

[giagwe]

@gilly48 Base standard AT is a bit above 41k, i might be able to pay in cash anyways

 

[gilly48]

@giagwe Get premium (android, reverse cam, 4 speakers, 15” wheels) and change to Michelin tyres.

 

[giagwe]

@gilly48 Making a car loan is not a good option for me at the moment

 

[jagermain7]

@giagwe It’s a proton, better sell and buy 2nd hand jap.

 

[giagwe]

@jagermain7 2nd hand jap below 40k is 2014 vios/city or 2012 civic/corolla

 

[smiller]

@giagwe It is a problematic car.. Just sell

 

[johan_1988]

@giagwe 30-40k for a 10yo Toyota

 

[giagwe]

@johan_1988 Vios seems to be good tho. But i'll need to do some research for common problems and price for replacement parts

 

[impactb13]

@giagwe Bargain basement corolla mini. Don't bother. You may be better served by the altis 1.8,bigger better and more comfort. Plus, good fuel economy and cheap maintenance.