Is it time for a new car?

Question
I own my 10 year old Audi A3 free and clear, but the maintenance on it is becoming more frequent and more expensive. When should I consider getting a new car, what kind of car and should I lease or buy?
wordpress 2015-03-31 09:22:31 6 Answer 661 views 0

Answers ( 6 )

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    2015-03-31 16:05:44
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    @OP:

    From your description, yes I think it is time for you to get rid of the old car: too many stuffs to fix. Even you are willing to spend the money, it does not worth your time.

    For the new car, if you like electric motor's 0rpm instant torque and also save some money on gas, you can lease a Fiat 500e or Nissan Leaf with that budget. For example here is a deal that a buyer has negotiated:

    2014 Fiat 500e: leased for 36 months, 15k miles/year. $207/month before tax. $2,500 downpay (includs first month's payment, all fees/registration/taxes etc). Then he got a $2500 rebate from the California state, which effectively makes the deal to be zero down with first month free.

    However, those electric cars may not drive/handle as well as your Audi, so you may want to test drive them first to see whether you like it or not.

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    2015-03-31 11:15:13
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    What is your budget? And how much you are spending on the old A3's maintenance every year?

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    2015-04-01 23:36:20
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    A 10-year car is definitely need to changed. You seriously need to consider to get a new ride. You can either trade it in or sell it by your own. If you like to stick with Audi, I recommend the A5. Otherwise, Kia K9 might be a good choice too.

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    2015-03-31 12:09:41
    Reply

    My maintenance for the last 6 months has been around $1,500. So I guess you could say my budget for a new car would be ~$200-250/mo. I had an issue with the turbo which required a replacement part (not the turbo itself, thankfully). Then I had a wheel bearing issue which had to be fixed immediately. I had another issue that I am not remembering at the moment, but it was In the months prior, I had a lot of pent-up routine maintenance including replacing brakes and battery. What makes the decision difficult is that some of the maintenance was routine (i.e. to be expected) and other maintenance was stuff that should remain in good condition for quite a while. I can't tell if it's really time to get rid of the car.

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    2015-03-31 11:17:01
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    I live in California and I was considering an electric vehicle. I hear they are quite cheap to lease and gas is of course quite expensive in this state. My wife would still have a conventional gas car for our occasional longer trips. Are electric vehicles viable?

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    2015-03-31 11:13:02
    Reply

    How much do you spend every year on maintaining the A3? If the amount is close to or even greater than the total annual payment that you lease/purchase a new car, then it is time for you to get a new ride.

    If you are leasing, generally speaking with 0 downpay :
    - $150/month can get you cars like Focus/Corolla/Civic;
    - $200 - $250/month will get you a nicely equipped mid-size sedan like Camry/Accord/Passat etc.
    - if you budget goes up to the $300 level per month, you can afford an entry level luxury car such as the BMW 3 series, Mercedes C class and also the Audi A4, Lexus IS250.

    However, if you are living in a state that charges tax on the car's full price (not just the depreciated portion during your lease term), it is not suitable to lease.

    If you are purchasing, the total cost of owning the new car depends on how long you are going to keep it. In this case, what you should be focus on is not the monthly finance payment, but the total cost of ownership, which is equal to how much you pay for it, minus how much you can sell it to the 2nd owner several years later.

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