Buy a new car or keep driving an old car?

I drive a car that's over 10 years old. There are certain things you have to know if you intend to do this.

Above is me in the process of changing the oil of my car; I think this is a good way of showing stuff you have to do when you drive something old...

...meaning that part of owning an older car means there will be times you have to get your hands dirty. I'll talk more about that in a moment.

3 facts about new cars

1. All new cars are designed to only last as long as a lease term before something wears out and/or breaks. That means 3 years or 30,000 miles, whichever comes first.
2. Any infotainment tech the car has now will be partially if not completely obsolete in fewer than 3 years.
3. "Lot rot" is a real thing. New cars are sitting in dealership lots longer, and one of the worst things you can do to a car is not use it. Cars that sit develop rust, get flat spots on the tires, develop stiff suspensions, sometimes mold on the inside... it's just not good.

These things being true, should you buy a new car? No. If you want new, lease. Just make sure it's a car that hasn't been sitting on the lot for too long. You get all the latest tech, and by the time the car starts having things wear out and the infotainment goes obsolete, you get rid of the car and wash your hands of it.

Should you keep your old car?

Not going new and trying to decide whether to keep the old car? There are a few questions you need to ask to help you make this decision.

Is the car paid off?

If what you're driving isn't paid off, the bank owns your car and not you. The first step here is to get some financial relief. Find out exactly how much left you owe on your car loan, then start calling other banks and credit unions. One of them should be able to refinance your loan even if your credit is total garbage since what you're doing is bringing an asset to the table, that being the car itself.

When you do get some fiscal relief and can afford some repairs, tackle some of the biggies listed below.

Does the car have fixable problems?

An example of an unfixable problem is a leaking sunroof. All car sunroofs leak. Every single one of them. If the roof leaks, get rid of the car. Most auto glass shops won't touch a leaking roof because it will just start leaking again, so it's not even worth attempting to fix.

Another example of an unfixable problem is any frame damage. Once a car frame gets bent (such as from hitting a curb way too hard,) that can't be fixed.

And yet another example of an unfixable problem is door damage. If a door on the car gets slammed into something (such as those posts next to gas pumps at the gas station) and something is bent so it never shuts right after that, that's unfixable. Even if you replace the door, it will never latch correctly. Again, unfixable.

Things that can be fixed

This is a list of the fixable stuff you can do. If you can get most or all of it done, you should get another 50,000 miles out of your car.

Oil change

An oil change for conventional oil is about a $40-$50 service, and full synthetic is $60-$70.

I run full synthetic in my car using Castrol GTX Ultraclean. If I had any shop do the service for oil + filter, I'd be paying 70 bucks. When I do it myself, 30 bucks. And that's with sales tax included.

Oil changes are necessary and they must be done. It's cheap if you do the oil change yourself. But if you don't, you're going to be shelling out $40 to $70 twice a year for the service.

Tires

There are a lot of people driving on bad tires out there. Don't be one of these idiots.

When you replace your tires - and I cannot stress this enough - REPLACE ALL FOUR. And be certain to have the tires rotated every 6,000 miles. Most tire shops will include the rotation service free of charge.

The cost of this will be anywhere from $350 to $1,500. Big SUVs pay the biggest price. If you remember to do your rotations, you should be able to get at least 40,000 miles out of the tires. The initial cost of the tires is big, but you don't have to pay it again for a while.

Brakes

People ignore bad brakes even more than bad tires, and the #1 reason for this is cost. Brake service for many cars just isn't cheap.

However, if there is anything you should put big money into on an older car, it's brakes. You must be able to stop your car reliably.

Brake replacements for all four wheels usually start at $1,000, but can ramp up in price to $2,000 or even beyond that.

The only way you can save cost on brake replacements is to replace them yourself. There are plenty of YouTube videos on this, and yes you can do it. If for example you have a big SUV like a Chevrolet Tahoe, you're going to pay big for brakes at a shop. But if you do it yourself, you can slash the price to well under $400.

You need good brakes, but if you don't have a lot to spend, start watching YouTube videos on how to change the brakes on your car, then go do it...

...but remember that changing brakes yourself is usually an all-day job, especially if you've never done it before. Much cussing and swearing will most likely be involved, but it's worth it.

Also remember that even if you factor in the cost of the tools and stands and whatnot that you need, you're still saving huge over having a shop do it.

Wheel alignment

This is something that is included when you get new tires. However, if the car feels wobbly/shaky at highway speeds and the tires are still new-ish, get the wheel alignment service done.

The cost of this is relatively inexpensive. Don't try this yourself. Have a shop do it.

Struts and shocks

This is not a cheap service, but if the tires are new, the wheel alignment is good but the car takes bumps horribly and/or bounces around too much, it's time for new struts and shocks.

It's usually true that most cars don't need this done until the 75,000 to 100,000+ mile mark.

Like with tires, it's best to do all four sides all at once.

Cost of this depends on car. Small commuter cars can usually get new struts and shocks for under $1,000. Larger SUVs cost more. The cars that cost the most is anything to do with air suspension or has computer-controlled crap in it.

You save huge money changing struts and shocks yourself, but I don't recommend it just due to how annoying it is to get the old stuff out and the new stuff in. You're better off having a garage do this service.

Transmission service

This usually refers to a fluid service for an automatic transmission where the pan gasket, filter and fluid are replaced.

Some say that if the transmission has no problems shifting (you would know if it did,) don't mess with it because that can do more harm than good.

If the transmission in your car feels like it's not shifting right on its own, have the service done. If not, leave it alone.

The cost of this is between $150 to $500 for most cars. Don't do this one yourself. Have a garage do it.

Serpentine belt

This is a relatively cheap service at most garages at usually well under $200 except for luxury cars. On most cars this is "that one belt" that's the most important. If the car squeals from a cold start and/or just starts squealing a lot whenever you accelerate, get this belt changed.

Battery

This is one of those things that's actually really easy to replace yourself for under 50 bucks - however - the main issue with modern cars is that the computer needs a "reset" after a battery disconnect. If the reset isn't performed after the new battery is installed, the car either won't run correctly or won't even start. Very annoying.

In my experience, the best way to change a battery is to have AAA do it. If you have an AAA membership, call them up and say you need a battery replacement. They'll send a guy with a battery and replace it on-site. Keep the receipt, because AAA guarantees the battery for 3 years.

If you don't have AAA, have a garage put in a new battery. Cost from AAA or the garage will be between $125 and $250, depending on car.

Alternator

This is an electrical thing that keeps the battery charged once the car is started.

Signs of a failing alternator is your battery gauge lighting up in your dashboard, flickering headlights, interior lights getting real dim, power windows running real slow (although that could be something else which I'll cover in a moment,) power door locks not working right, and so on. If you notice electrical crap not working correctly and you know the battery is good, getting a new alternator fixes that.

In my experience, alternators don't start failing until after 100,000 miles on most cars, although they can fail earlier.

When replacing an alternator, you might be tempted to be a reconditioned one. Don't do that. Always get new. It is worth the extra 50 to 75 bucks going with a new one.

Yes, you can replace this part yourself if - and this is a big if - the position of the alternator in your car is somewhere that's accessible. Some cars are designed where the alternator is in a spot you can't get to without taking apart five other things just to get to it. If that's how your car is, don't attempt to replace it yourself and just have a shop do it.

The shop cost of this is usually $350 to $600 depending on car.

Power window track lubrication

This is the last one I'll list, and fortunately it's super easy, super cheap, and yes this will potentially save you from having to replace a power window motor.

First, get some WD-40 Specialist Water Resistant Silicone Lubricant Spray.

Second, roll down all the electric windows on your car.

Third, spray the tracks that the glass would rest in when the window is up. I'm not talking about the top of the window frame but the sides. Whenever you use the window, the glass moves along those tracks and that's the thing you're lubricating here.

Fourth, roll up and down the windows 10 times to work in the lubrication.

Do this twice a year. This will save you from having to replace a electric window motor/assembly/regulator/whatever over time.

I unfortunately speak from experience on this one. On a vehicle I used to own, I had the driver's side window electric stuff replaced 3 times (costing me $200 to $350 each time) before learning that lubricating the tracks would have prevented that electric crap from breaking in the first place.

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Published 2020 Sep 22