Your Email: Should you replace your car just because it needs repair? | Cooley On Cars
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- Опубликовано: 13 окт 2024
- At some point you might be wondering if you should junk your current car and show for a new one. Don't just compare the cost of repair to the value of the car -- it's a little more complex than that. Read more on this from Brian Cooley - roadshow.co/rC...
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I still don't understand why cars HAVE to be a investment? Buy a car keep it forever or until it simply cannot function anymore and has to be junked. Why is the endgame buying a car ALWAYS have to be resale?
Never is for me. Buy carefully and with long term in mind.
Totally agree. You don't buy a new phone, tv or other things in life with the purpose of reselling them. Sure, a car costs way more then even a high-end gaming PC (that ends in the garbage a few years later) but still, we are quite numerous, those who buy a car just to hang on it until it dies.
As some people get older, they want new tech to help keep them safe.
As well as, it's a headache to have to keep taking it into the shop.
Ya never understood that. It’s such a black and white answer. A new car gives 0% financing, rest can be invested and might pay for the monthly payments. New car also has new features and might save a driver’s life. That’s never mentioned
I buy mine for smiles per gallon
Functional transportation! That's why I am keeping my 1993 GMC C1500 with 421,000 miles, I do almost all my own work. She drives like new.
Considering the highlander can easily get more than *double* its current mileage I would say it's worth fixing the brakes. I would def get a second opinion about the leak.
I would get a second opinion about the brakes too
@68Camaro RS/SS agreed. Was gonna say my uncle had brakes done for $800, all four wheels.. deals and location matter :)
But then again.. what part brands are we using? Seriously I can get front end akebono brake pads for a dodge journey on Amazon for like $60
68Camaro RS/SS I'm sorry but this guy is getting fucked, how convenient to need not only $1000 for all four brake calipers? But then you need a $4000 oil leak repair ? You could get a whole nother engine for that price Even a head gasket repair doesn't cost that much...This Mechanic probably wants to buy his truck I have seen Mechanic's to do this and say they'll keep it and fix it for their child
It’s probably the timing cover leak. The whole engine needs removed and the sealer cleaned and replaced. It’s a big and precise job. If it’s not done right it will leak again right away.
If the owner of the Highlander never noticed the oil leak before, then it must not be that bad. That repair shop will probably pour in a bottle of seal conditioner and pocket the other $4990.
Parasite Lives Matter how about getting a second opinion on the oil leak as well
Yeah it’s probably a rear main seal and they are inflating the price too much...... probably a Toyota dealer
That guy is fucking him, at the very least I could've said the valve cover gasket leak but that was the issue with the older Toyota engines, you have the 2GRFE if I'm not mistaken and that has never been a complaint for that engine this guy is a dumbass and $1100 for four brake calipers and I have never heard of that...
@@hondajohn6948 Some rear main seals are hard to do. Especially on newer FWD cars where you have to drop the subframe to take the transmission out and then you'll have access to the rear of the engine.
Cooley, You and Jill are so practical, borderline cheap, it hurts! Ouch. Some of us are what you call “car guys” and yearn for the latest and greatest. Yes, I know we’re the ones who take the big depreciation hit, but many of us take exceptional care of our machines keeping them from 10 to 14+ years. We have the benefit as original owners of the factory warranty plus we are beginning with as few as 3 miles on the odo. I HAVE bought used, low mileage cars when income dictated. Now with some disposable income, I buy what the true “car guy” in me wants and can afford, never over extending myself. In total, you and Jill do offer sound financial counseling. Can’t wait for your next piece😁
I Currently have a 2000 LX470 for a camp/touring rig.
A learner hit a tree and a fence with it, it’s going to be $6k or more to fix just that damage.
The LX470 also has signs of flood damage.
The body control module has issues and needs replacing.
an old leak with the motor done 380,000 on the clock.
This video really helped with what to do, time to get a newer Toyota Land Cruiser TroopCarrier I think.
Cheers Cooley
New cars: usually better interest rates, safer, better fuel economy, more reliable, better tech (lane keeping, auto braking etc), warranty etc. On a used car, how much do you really save? I have two vehicles, both purchased new - if you shop you can get a great deal off of the MSRP and 0% interest. One of my Vehicles is a F150, have owned it for 3 years and could sell if for $10,000 less than I paid for it - that is really not bad depreciation.
I find good used car models have NOT come down reasonably in price after a few years.
YOu don't get the depreciation in most cases. Hence I look at long term reliable cars like Honda and Toyota's that last 15 years.
It’s really not good depreciation either. I bought a used Honda CR-V for $8k in 2012 and it’s still going. That’s about $1000 a year in depreciation.
In 2012 I bought a 2010 model car used with 25,000 miles. Original sticker was about $20K, I paid $14K. Car came with brand new brakes and tires (Yokohamas, not some no-name brand) and still had some factory warranty left on it. Saved a ton of money on what was essentially a nearly new car. The deals are there if you're smart about it.
A $3,900 oil leak fix on a Highlander seems steep. I'd take Mr. Cooley's advice and check a few shops. Shocked that calipers went out just north of 100,000 miles.
I have a 2008 SAAB 9-5 that I purchased six years ago for $10,500 with brand new tires. It was a one-owner car. SAAB's depreciated like heck because the company was gone in 2012. I now have 98,000 and the car runs perfectly.
Since new the car has cost $2,900 in maintenance and repairs. Most of that has been wear parts and preventative maintenance...exhaust, shocks, struts, subframe bushings, brake pads/rotors, oil changes, transmission fluid changes, hoses, radiator flush. The only unexpected expense was $302 for a new throttle body at 87,000 miles.
I'm lucky to have an honest, talented SAAB-only specialist who knows SAAB's inside out. An issue that would a regular shop 2 hours, he can do in 15 minutes. I was once leaning coolant. Took it in, he opened the hood, and 15 seconds later said, "You need a new heater bypass valve." Total cost, part and labor? $50. Imagine going to the dealership with that issue? Yikes!
Bill Feinberg STEEP?? It's not even that much on a BMW😂😂.. Whoever his mechanic is, he is having a great time taking him on a ride with this bullshit, and 4 calipers on a toyota this new???? I've done worse
If I'm planning on buying a new car then keeping it for 10-12 years, why would I need to be concerned with
depreciation?
thats a smart move, will it be a toyota?
@@pesomistic7656 Hyundai or Toyota.
I'm planning on buying a 4runner later this year. I keep my cars "forever". About to get rid of a 20 year old Chevy. I would only worry about depreciation for if the car is totaled, I would get more for it to go looking for another car. Other than that, like you, I don't worry about it because I am not going to be getting rid of it.
Scotty Kilmer will fix the car for far less. Take it to Scotty
Macbeth Ighoruemu Or tell him to get a Celica, 1994 of course
Scotty is full of himself
One Man On Fire lmaoo full of toyota lol
Scotty will say its not actually broken since its a Toyota...
whats scotty number
You read my mind. That is exactly what I was thinking of at the moment because of my Toyota Camry SE 2007.
That car burns oil like crazy! I had it years ago. Feel bad for the current owner.....so much for Toyota being reliable
soiceyboy33 Toyota’s are reliable, just rare for it to have problems.
@@soiceyboy33 couldn't have said it better myself. I was not aware of the issue with the oil burning until after when I was looking up for things to upgrade my car with. It was too late by then. Rookie car buyer mistake but lesson learned now.
@@JJustinXu Yes Toyotas are mostly reliable but that would be with the older cars that you can still see out there on the road. Their have been many mistakes that Toyota has made to make them unreliable as well.
I wish all my teachers were was engaging as Brian Cooley then i wouldve really payed attention in school.
Never get out of warranty work done at the Stealership. 😉
A "nice" car is a quality of life item however, so don't bee too dingy. If you spend 1-2 hours /day sitting in the thing, you want it to be comfortable, quiet, and not take energy away from your work and additional activities at home. Safety is also important for obvious reasons.
dingy? did you mean stingy? Beyond that, most sedans today are pretty comfortable & quiet. On the other hand, many vehicles where the passenger area is open to the cargo area (hatchbacks, stations wagons, SUVs, vans, etc.) can be a bit noisy. If you want a quiet vehicle, best to stick with a coupe or sedan with an actual trunk.
@@craig2web yeah that's what I meant. At 80-90 mph very few cars are quiet.
The brake job should be cheaper, calipers can be found for around $80 a piece, discs for around $30 and pads for around $30 a pair. Add a little brake fluid and a total complete overhaul should cost around $500 plus labor. I could knock that out in a Saturday afternoon crawling around the driveway by myself.
As to the oil leak, where is it coming from and how bad is it? If it’s gushing from the rear main seal then it might be an engine out job, expensive. But if it’s a little dribble from the oil pan then the mechanic is taking you for a ride. You might even be able to live with it and do nothing, after all it’s an old car. Just keep an eye on the oil level.
110k miles on a Toyota Highlander is nothing and as long as you’ve kept it up there’s no reason to think it won’t be on the road for another 10 years and 110k miles. Plus whatever new car you buy might actually be less reliable and cost you even more money.
Apple Carplay and Android Auto? Just installed an aftermarket unit in my old car, cost me $149.
Unless you absolutely positively need a brand new car I would just get the old Toyota fixed (at a another repair shop).
In Britain, if you take your car to a Vietnamese owned garage, it’ll be a lot cheaper. I had my car serviced and repaired there, and they did a great job. Better than the dealer!
Avoid Arnold Clark!! The apprentice has fucked up my car.
Seems like Jill watches Scotty Kilmer
James K She must have a 94 Celica or a Toyota matrix or ES 300
Why is this great man not reviewing cars anymore?
MikefromQueens Seriously! His videos are what got me interested in car videos on RUclips in the first place.
Cause they replaced him with team diversity, even tho Cooley is way better at reviews. Go figure.
This is brilliant, thanks for the educational tips. I see a lot of young people who make stupid car decisions that really affect your financial future. Think long term people.
I have always chosen to buy new because: (1) the finance is better on the new cars, (2) longer warranty, (3) free maintenance and road side service, (4) piece of mind, and finally (5) the depreciation is minimized when you keep the car for a very long time, >10 yrs. Am I wrong?
you can buy a new car if you can pay it up front in cash and have a decent amount of emergency savings in case something happens and have still have enough to save each paycheck to put towards your retirement. A lot of mistakes people make is when they shop for a new car they only look at the monthly payments and not the whole cost of the car when they know they can't afford to pay the whole car in cash. They also don't add auto insurance into the mix. So if they finance a car when they don't have the cash to pay it up front, then something bad happens in life later on, etc - lost your job, medical emergency bills, - you're not making any income and you still gotta pay that car payment along with other expenses, then you'll become trapped and in debt.
@@Kureni Basically buying a car is expensive but we need it. At issue here is whether one should buy new or used for a car says 3 year old, which may still cost quite substantially if it is covered by a good warranty. In both cases, the car still needs a down payment, loan (=monthly payment), and full insurance coverage. Everything you said applies to both cases.
why people so freaked out oil leak? Most old car have oil leaks, just make sure is not leaking like crazy, check engine oil more often, make sure not too low, it still will last long time, specially Toyota, just leave it alone and trade it in when you got money, don't waste money on fixing it
Regarding repairs and NOT at a dealer you don't know what parts are being used. Check out RockAuto. The prices vary dramatically. What part do you think your local repair guy is going with? If I to chose the 2nd water pump myself I may not have a Dodge rotting in my driveway with a leaking water pump (again) and cooked engine. If you are at a dealer & they use an OEM part which tends to fail often or not last your back in the same 'part quality boat'.
Auntie Jill! So nice to see you! Come visit CNET more often.
And do visit her website. 👍
The zero to two percent loans she recommends are not typically available on the used vehicles she recommended. Or did I miss something.
I had the same thought as well.
Yeah I don’t think so. My brother was looking for an 18 Camry but after factoring 0% interest offer on a 19 it made more financial sense to go with that one.
You're correct. Standard rates are about 4.99% or higher on used. New rates are about 3.74% unless the manufacturer offers a special rate like 0.9% or 1.9%
Maybe not 2%, but if you have decent credit and keep the term relatively short (4 years or less), you can get rates under 4%, especially with a bank you have a good history with. The difference in monthly payments between a 2% and 4% loan is pretty minimal.
The lowest auto rate I’ve seen on a used car is 2.99% from my local credit union.
I’ve never had a gently, roughly or soberly used car in 30 years that didn’t need surprise repairs as well as car payments... no bueno... that includes Honda, Toyota, Kia, Chevy and Ford thx but thx for standard advice
And that's why after 30 years you are still making car payments.
jjmarz1001 like I tell my clients try again..
Her advice is not quite accurate and doesn't apply to everyone. Most of the time, 1 or 2 years old car will cost you the same as new one, based on the higher interest rate on old cars, specially if you buy them from the dealerships or Carmax type car sellers. Personally, I prefer to buy a new car and be happy at least fro the first 5 years of the ownership, instead of buying the car which I have no idea how it had been treated. Of course, I'm not talking about expensive luxury cars.
Agreed. Why bother getting someone else's potential lemon with a little warranty left when I can get brand new for the same money
@Shamur Stewart There may a reason why a car loses values so much - may be there is something wrong or people just don't like it. Do we want to get into a car that most people don't seem to care? We sold my wife 2008 Honda CRV last year to CarMax for $6,000 which had bumper damages that can cost $1,000 to repair. This car was brought for $21,000 new. One can argue about inflation and still $6,000 is quite remarkable for such an old car that needs body work. There is a good reason why people pay top money for a CRV - for the 1 years we had owned, it went to the shop 2-3 times for predicted repairs (shocks, starter motor). Luxury cars are also known to depreciate fast because they are generally not as reliable as they get old and they cost a lot to repair. Most people lease them new and let go quickly as 3 years ...
I can totally agree with the lady. Cars are a waste of an investment. I was even talking about it the other day. Buying a new car is horrible because it doesn't gain value at all. IDC how much of a classic it gets labeled as.
Oscar Zamora-Bautista very true. But then again I wouldn’t want to have a used car...you never know what will happen.
@@JJustinXu I agree with you now but then again there are some used cars that are good buys. You get a major discount and you get something reliable. For example older folks who don't really use their car a lot and they always replace whatever a mechanic tells them needs to be changed. So it could go either way. New cars have big defects in the present time that we are in. Since all the dealerships care is about sales sales sales.
If the vehicle needs calipers as well as rotors and pads on all four wheels, the most likely scenario is the gentleman in question kept driving on brakes well past the backing plate making contact, over-extending the caliper pistons. Rear main seals on transverse engines require the motor/transaxle assembly to be pulled on many vehicles. It could be an 8-12 hour job. Depending on the hourly labor rate and the components necessary, I would give a ball park of $1900-$2600 to replace the rear main seal alone. Good shops rarely just do one thing when the labor hours are so high, they are likely replacing other components that need to be removed anyway that are near the end of their life. Off the top of my head, a coolant flush, rad hose and thermostat replacement, new belts, power steering lines, and maybe spark plugs. In this way, he would actually be saving money on the labor, as at 110,000, a lot starts to go sideways at once, regardless of brand.
Another way of thinking is, if my car is old/high mileage will this repair be the first of many to keep it on the road? Will you spend more money than what it is worth in the next few years?
"Slightly used" and affordable Electric Vehicles (EVs) are becoming more common. You should do a video on potentially replacing your gas guzzler with one to save on fuel and maintenance. It is also one of the least environmentally-impactful action when it comes to automobile as your personal carbon footprint starts out at "Zero" (used car) and increments slowly compare to a used I.C.E Car (carbon footprint also starts are "zero") which still burns hydrocarbon and can't be switched for anything cleaner.
in 2017 I bought a used 2015 Leaf S for 1/2 the sticker (it even had DC charge, usually found on higher trim). This replaces a 2001 Sentra with 130K, and was behaving 'funny' (no codes. chasing that could be $$) in 2 things. EV as a 2nd, commute car seems a no brainer
@@steveurbach3093 Except for the $15,000 battery that degrades.
@@TheBandit7613 My battery is down 1 bar. I just did an 61 mile trip on a single charge with 2 bars (and a Low battery war) left
Go to a different mechanic. The oil pan likely needs to be replaced at worst. The brake job also sounds high.
Could also be a crankshaft oil seal.. which you have one where the transmission mates to the engine, and the other is at the crankshaft pulley
@Steve Wise yeah that’s stupid I did my own brakes on my 2006 Matrix for $460. New Akebono pads, calipers, and rotors. Unfortunately a big reason dealers tout these $1000+ repair jobs just to get that customer to start thinking about a new car. Love having new brakes on my car I did myself it’s the best feeling ever. Why in the HELL would it be over $1K. I tell you, the world is preposterous these days
Excellent advice. I've always had used cars except once and that one was a company vehicle!
I only buy cars brand new when I plan on keeping them. Otherwise I get a beater for work. My current first new car is a 20 year old Chevy and it's had a good run. I am planning on getting a Toyota 4runner later this year and plan on keeping it for another 20 years if I can. Looked at them used and they don't really drop in price. For not much more I can get it brand new. Not looking for a fully loaded 4runner. Kinda middle of the trim one.
Not worried about depreciation because I am keeping it as long as it will run. Donating my old Chevy to charity, probably veteran's or a children's charity.
What I didn't hear from them is the lack of depreciation from buying a 10-12 year old car and fixing it, then driving it till it dies. I've got a 2000 cirrus that I've probably spent between $1300-$1500 total for all the parts because I bought the more expensive parts, rather than waiting for cheaper parts that I could have ordered online, but I've already put over 45k miles on it and it's still going strong as ever. I want to know where these two think the price to miles expected from a vehicle lines intersect, because I am the kind of person who thinks you should be able to get between 75k-100k for a car you spend $2k easy.
I will conceed that abs and aeb are absolutely worth having, though, if you can find a car for cheap enough that has those systems and they're working.
I completely agree with you on this. I typically purchase vehicle with over 100,000 km on them and they ultimately end up with 250,000-300,000 km on them when I'm done. I always come out on top. I've only purchased 2 new vehicles in 20 years, I lost my shirt on the first one and I'll need to keep the other one another 5 years to break even. I don't get attached to vehicles, I only need them to be safe, reliable and cost effective.
I am not sure if a perspective buyer can look into this, but with a salvage title, I think it depends. If it is flood damage, you obviously want to walk away from that. The car is only good for is used parts.
If it is structureural like a frame or body part like the sail panel or something like that then maybe. But I am not sure if you can look into the specifics of the salvage title.
For for general maintenance and the value of the car. That all depends and there are a lot of factors in play.
-Is the cars price rising in value like the Mercedes SL (R107).
-What does the car mean to you.
-Is the car still in working order and the repairs are general service but nothing too serious.
-Do you really want to deal with monthly payments and a high insurance cost.
These are the factors I can think of.
As for me, I am kind of in the same boat as the person who wrote the E-Mail. I have an 09 Mercedes is roughly 130k on the clock and the repair costs are creeping on the value of the car. To me in my mind the car has yet to leave me stranded and all repairs on the car are recommend service ever 10k.
I broke the bank once in the car and that was about it.
Is Jill driving a Ferrari? In the past, I would generally buy used vehicles with around 100,000 Km on it and put somewhere between 250,000 km and 300,000 km on them before I selling it. It's worked well for me in the past because I can maintain my own vehicles. The last vehicle we purchased for my wife/family was 'under duress' and I don't think I would do it again. We purchased a brand new vehicle after our existing vehicle suffered a breakdown that was not major but it was the straw that broke the camels back. We now have a vehicle with about the same milage that I would typically buy and it's worth about $15,000 now because it depreciated $32,000 in 5 years. A couple of months ago, I scored a 5 year old AWD SUV for myself for less than what it's currently worth and because it's not real expensive, there are no payments. I'm going to return to my used vehicles buying method but I can see the allure of buying new, I just can't justify the depreciation. For me, the only benefit was a 5 year period where I didn't have to fix it.
Yes exactly fully agree Cooley!
If you are not into cars nor mechincally-sense, Never buy used.
Any used car, no matter how new they still are can be driven like rental cars by the first owner (most of them know they dont plan to keep the car for long)
I have never had worry-free exp with any used cars.
Lets face it, why would anyone wana sell their cars within just 2 to 3 years.
Factory Warranty doesnt protect you from everything, I know some brands of cars needed to go back to the dealership every months just to fix issues
That might have been worthwhile advice decades ago, but doesn't really hold true today. Most people are not overly harsh with either their own vehicle or with a rental. If you've had problem used cars, where did you buy them, and who made them? I've been buying used for several decades, and always buy them from new car dealerships. They tend to sell the best used cars. The independent used dealers and individuals - not so much. And you want to buy a reliable make of car. Think Asian makes - anything from the USA or Europe tends to be more trouble-prone. I'm on my 6th used vehicle and have yet to get a lemon. And I've saved a hell of a lot of money by NOT buying new, and I was able to invest those savings into early retirement (retired in my mid-40s). ;-)
Another good idea with used cars is finding the right mechanic. Chain stores will rip off any day, any time. But only a good mechanic will get your used car fixed for a great price. Mine is wonderful and offers unbeatable prices and never once has he upselled me. Also used cars can be good if you do research like old Toyota, Honda, and Kia vehicles are often wonderful values. Most have solid drivetrains that are bulletproof.
cococly because it's leasted 2to3 year old car great deal no problem
People lease cars. Those cars come on the used car market after 2-3 years.
My dad bought a brand new Buick Century wagon in 1987, which he still drives today. If you really think about it, He saved a lot of money by buying it new because no one before him mistreated it, and he made sure all of it’s services were on time. The way he saved money it’s by not having to buy another car in more than 30 years. If you buy a used car you would have to go through 3 or 4 cars in that time span.
Your father coincidentally bought one of the best cars ever made. Which engine does his Century wagon have? What kind of fuel economy does he get? 80s, 90s, and early 00s GM cars are reliable, efficient, and cheap and easy to repair.
Don't listen to that women. You either buy a new car with a good discount, incentives, and interest rate or you buy a used 3-5+ year old car from private seller or dealership. Buying a lightly used 1-2 year old car often will cost more than a new car, especially from dealerships and CarMax.
Ro0ster Sorry whoever sent this email is a dumbass, ain't no way in hell a 2008 Toyota of any kind should need for new calipers with just one 110K and what oil leak is $5000, replacing the engine is less than that stale if you shop smart, his mechanic has him over a barrel
You buy a 10-15 year old car with high highway mileage and good maintenance for less than 10% of new. A lot of late model cars with low mileage are city driven trash that has one foot in the junkyard.
@@user-tb7rn1il3q that’s what I’m saying! Love highway miles!
Many thanks extremely valuable. Will share video with my pals.
That's how my family always does it. We buy lightly used, lightly broken-in car that runs a LONG time.
I have a ready supply parts at pick-a-part. Spend very little to replace stuff like DPFE or purge valve.
Aunt Jill!!! Love her from the 404 ❤️
I wonder what y'all would say about a new car with a lot of incentives. Out in Austin, it's really easy to find a new SUV or truck with anywhere from $6000-16000 off the MSRP. I nearly bought a new Ram this summer simple because it would get the same mileage my vehicle gets now and was 30% off of MSRP.
New here. Ironically, im in this situation. 2006 scion xb with just passing 180k miles in great running condition but does need about $600 of maintenance estimated. New tires, brakes, alignment, a/c recharge. Car is worth $3500 in my area could get $3000 for it if i sell as is. Or just spend $600 to keep it up and possibly deal with other issues with a near 200k mile car. I would like a lower mileage car with about 50k miles but not sure what to do.
At 3500 dollars, the car is virtually worthless for resale purposes, I would fix it an keep it. Also, all the things you mentioned are regular maintenance items that should be budgeted for. What did you end up doing?
@@gregorymalchuk272 I have done so much since the last 6 years or so. I now currently buy and resell used cars as a hobby. I got the experience and knowledge from working on multiple cars from AC compressor changes, radiators, alternators, starters, axles, suspension etc you name it. I mainly stick with Hondas though. Good resale values and easy to purchase. I bought a 2014 Acura TSX Tech model around that time with 60k miles and today at almost 115k miles it has been such a reliable vehicle as predicted. Not a single major repair only maintenance that I’ve done such as brakes, tires, and fluids changed. And by the way, any used vehicle running whether high mileage or not, definitely has value and money to be made. It’s all in the power of negotiation. I became a really good negotiator since.
I daily drive a 1973 Mercedes Benz W115 and i couldn't be any happier driving it, cheap to maintain and doesn't break
Thank you Cooley 🙂🙏
When I was young I had purchased a used 1978 Pontiac Grand Prix. Beautiful car and ran great up to when the rust in the gas line would clog up and it wouldn't run. You have to unhook the gas line and blow the rust out of all places, back in the tank. I was looking for an excuse to purchase my first new car. My father said wouldn't it be cheaper to put in a new gas tank rather than buying a new car. I didn't listen, I went and traded it for a new 1983 Camaro. Biggest piece of junk I ever owned. Started using oil at thirty thousand miles. I ended upside down on the financing because I traded two years later. Moral of the story is to listen to your father.
Cooley went from being my co pilot to being my personal saving fund guy! Real quick.
I have 2 cars, A couple of Saab 900s, A 1983 Turbo with 120,000 miles on it and a 1992 Xsi with 238,000 miles on it, The xsi is my daily car and other than a few water hoses it's not ever had a problem since I've had it!
I would always keep replacing stuff until something major happens that's out of my scope of repair. Things like an engine failure due to hydrolocking or a transmission dies out on me will warrant getting a new car if the car is worth less than $8000.
Cooley laying it down! All good points!
I bought a 2000 Nissan Sentra manual with under 200k miles for 500 dollars. Works perfectly .
Don’t let this distract you from the fact that some people spend THOUSANDS a year on activities like Golf and get NOTHING in return for it. For some people, driving a nice car is their form of entertainment, let them live. In fact, Jill looks like the kind of woman to spend 10k a year at Neiman and Marcus and not even notice ...is that a waste? To me it is. But you gotta do what makes you happy. Life is too short.
Plus, if nobody bought new cars, there would be no used cars to choose from!
Calm down
I replaced my Dodge Charger 2012 with a reliabe genesis 2015 because the charger was out of warranty and many things were coming up to fix, so it was cheaper to take the hit and add it to the cost of a more reliable car now with warranty.. Everyones story is different..
FCA hasnt had the best track record with reliability in the first place so I understand that decision for sure.
THIS RIGHT HERE. This comment is exactly why it's so risky buying a used car. You're inheriting someone else's problem with no warranty
you're lucky to get rid of that, FCA Makes nothing but garbage I haven't met one person in my life that owned one and didn't say they hated it...My best friend is kicking herself over a Jeep patriot she got that she still paying a note on
Literally doing this today with family members 2000 Acura TL just over 100K miles with some shuttering around 30 miles per hour last few weeks and also check engine light went on. Transmission goes then they are SOL. Just did coils and they just did spark plugs, tires recently but need to know when enough is enough.
It could definitely be the transmission. Those early 2000s Honda’s/Acura’s had weak transmissions
Cooley is the man
8:40 - "Maybe he'll offer to sell you his olds delta 88 for $1,000 -- take it - put a bag over your head - It's great financial planning" -- You are hilarious... and it's good advice :)
if you didnt know about it its not a leak. its a seep and its harmless... a gasket seep is normal and harmless
My Acura dealer quoted me $2300 to fix an oil pump "leak". That was 4 years ago. Car still runs like a dream and does not consume one drop of oil between 7K oil change intervals.
If you truly need caliper's on all 4 wheels then your brakes would just flat out don't work since they'd all be seized LOL gotta love it when mechanics BS an estimate to make the repair as expensive as possible because they think they can get away with it.
Darksyne yeah that doesn’t sound right. I think he meant rotors on all four wheels. Even that may be overkill.
Or maybe they meant brake cylinders. Calipers?? Something's not right.
This could explain why Cooley hangs-on to that Country Squire. It'd be interesting to what aftermarket upgrades he's done to that car.
Go to the Mexican shops that do the work for half the price if not cheaper
A 3-4 years old car maybe 50% cheaper than a brand new one but you’ll be on the hook for everything that needs repair, as it will be out of the warranty period. Also, problems will gradually start to appear at that age. An used car is still the best deal but there’s a risk factor that should be taken into account. A new car is more expensive but you get peace of mind and reliable transportation.
Peace of mind can be had in used cars. My 19 year old Honda accord has never let me down. The only thing I've ever done is normal maintenance like fluid changes, and one timing belt as a preventative measure. And that thing is reliable as hell. With a little research often times consumers don't have to spend an arm and a leg for reliable transportation. Finding a good local mechanic and not using chain shops is also the key for a used car. My mechanic is a wonderful guy and he has kept my car in tip top shape.
I always shop for my next car before I need to buy it so I don't have to make those kinds of decisions sy, after someone pulls out in front of you and it gets totaled out...happened to me last year.
Good advice. This guys gets it. Dave Ramsey instead has no idea.
My new channel is dedicated to keeping people from falling for this type of scam. The Toyota likely does not need new calipers (and I could put quality rotors and pads on all 4 wheels for $300 or less). If the oil leak is coming out of the pan or valve cover gasket just add a little AT-205 Reseal (I talk about this too). Your Toyota may be ready for another 100K miles. Keep up the good work Cooley! If you were any cooler your name would be "Coolio"!
The calipers can be rebuilt, but they are probably fine. The oil leak is probably seepage from idiots overfilling at oil changes. Just replace the pads and keep driving. Use high mileage oil and always keep the level a little below the full mark. Run it into the ground and save up to replace with a new car.
Hey Brian going off what you siad, If I wanted to get a new 2019 Toyota Camry vs a 2017 audi a3 pre owned which would make more sense?
Camry is reliable, audi is a money pit. Now you choose. It depends do u have enough money to repair the audi. If u do then it would be fun to have it. But I would take the camry, better resale value.
@@superbros1690 after about 10 years, the Audi would be worth MORE than the Camry in resale value
@@soiceyboy33 Nope, just go look at the market between Audis and Camry. You clearly don't know anything about cars. First after 10 years that Audi either would be in the junkyard or the mechanic shop. German cars are known for their crazy amount of tech and plastic use in engines. So I gurantee you that at 10 years that Audi will need thousands of dollars in repair but the camry will need nothing.
@@superbros1690 Actually YOU'RE wrong. I sell cars. Yes, the Audi will need more work and will be more expensive to maintain BUT trade in/ resale will be higher than a 10 year old Camry
@@soiceyboy33 You clearly dont sell shit
Cooley the man, always.
So i have a 97 camry with 225000 miles on it and the engine and trans run fine but the car basically needs a suspension rebuild and has no ac. Should i keep or sell? If i do majority of the work myself i will end up buying at least 500 dolllars in suspension components alone
CHAVO DEL OCHO Then do that unless somebody really wants to buy it
Buying a 3 years old Toyota 4Runner is probably the smartest move you can do on buying cars. You can easily drive it for another 12+ years with basic maintenance, and the depreciation curve will flatten out the longer you own it.
two months ago I sold my 2007 Sebring to a dealer for next to nothing. The car needed a shifter cable (wouldn't come out of Park), alternator (wouldn't start even with a jump) and new tires. Plus, I hated the car from the day I bought it from my elderly mother (to keep her from driving). Been looking ever since. Won't be another FCA products (had too many crappy ones) though there is a really good deal on a Fiat 124 and it is mostly Mazda. Oh well.
Robert Drake Actually I think it uses fiat turbo/multi-air motor And the chassis is Coe developed with the Mazda just like the FRS/BRZ venture, except those Models shared a Subaru engine
Keye T Toyota sells it as the Toyota 86 now.
Knuckles300 im aware🤷🏽♂️ but everybody knows what it is and the venture
I disagree with the notion of buying a used 1-3 year old Toyota or Honda like everyone likes to propagate. These tend to be the most overpriced cars on the market since everyone is looking for them. Plus, you don’t know why the previous owner got rid of it. A lot of times, people will trade in cars fast because they have problems and they’re tired of dealing with them. Buying new at 0% interest (with a great deal on the car itself) makes a lot of sense in this case.
Orrrrr. Get CPO/ off lease vehicles. Those are usually good.
@@doughmay You're right about that! But the market doesn't start becoming flooded with those cars until 3 years (the typical lease period)
Do modern new. Cars even last ~10 years???
I’m not talking about the engine; I’m talking about the display head and the dashboard-...
So much of the cars functions/electronics crap are through the head...
After ~ 8 years, a lot of the functions on the head don’t work and it is
FRUSTRATING and expensive to fix...!
Since used cars don’t have coverage anymore.!!
A old Mercedes for example, can’t be taken to any shop; they don’t. Have the scan tools. You must take it to dealer or mercedes shop to get those repairs!!
I did what you recommended, and bought a old low mileage cheap mercedes suv from my uncle and Boy, have been regretting it everyday.
Had and old Honda prior and it was so much better and cheaper to maintain!!!
Oskar Ngo I have a 81, 82, 87, 99, 03, 19 Mercedes all of which can be worked on without the factory scan tool for 1996 and up. All of our head units work fine but we use windshield sun covers with tinted windows. I work in car sales and got to meet the person who dose the hardware for head units. They take them to Arizona and let them bake outside to ensure 8 years of work. The headunits are also outsourced from other companies. Yes that's 8 years but that's 8 years of point blank in the sun outside with a plastic cover for rain protection.
I would say that a 3 to 5 year old car would be better than buying a 1 or 2 year used vehicle , as you said after 3 years the depreciation hit has passed. Of course check it with a professional and independent technician first.
Keeping it real man...
Does Cooley still drive that old Ford wagon from the 80's?
eh, she left out the dollars spent on luxury/fun items can be viewed as Entertainment Expenses. If she considers going to the theatre etc as throwing away money, then okay. but i don't think most people would. And the car experience would not just be for one day.
It will be really tough to find a car that ticks all above boxes
With that attitude it definetly will.
@@AntivistX not when your car has fallen apart and you need a new set of wheels fast. It is definitely for people who has plenty of time to shop a car
This gave me flashbacks of changing a Toyota v6 rear valve cover gasket. Ugh never again. 😢
It doesn't cost $5K to fix a leaky gasket either, that repair shop wants to take the customer for a ride. It's true, don't buy brand new if your finances can't absorb the depreciation which ranges from 30-40% in the first three years of ownership.
Man, it's hard being a normal person when it comes to buying a car, huh? I've never looked at a car and been like "man, I hope this gets good MPG" or "wow, I bet the resale on this is awesome"
Four grand for an oil leak? You can buy a LOT of oil for that. Just check it religiously.
I believe a well know financial guru thinks that if the cost of repair is less then the cost of a car payment, say $120 repair average every 2-3 months is a better option then long term car payments. Not sure if I agree with that.
Best loan to get is a $0 month payment and 0 month term. I.e. pay cash. Face it thr average consumer will get a loan with some or a lot of interest. Use tax rebates or extra money and buy one outright. I paid 1400 for my Audi convertible with the average maintenance upfront. Tires and bulbs I was able to get a great functioning car. Granted later on I had to do timing belt, brakes and other wear items but that was spread out over time.
Lightly used cars sell for more than a new left over at the end of the model year. The HL can be be fixed for a few hundred. They are being ripped off.
highlander(or almost anything toyota) with 110k miles has a ton of functional value
Sorry, lady. The best deal is to buy a car with 100 K plus miles or one that is 10% of its original MSRP. Learn how to do your own repairs. 80-90% of major maintenance and repair cost is labor. That's where you win big. Two years ago, all I knew about tools was the difference between a Philips and flat screw. Since then, I have worked on brakes, ignition, dash lights and differential fluid and ATF changes. If I can do it, you can too!
I’m more interested in being responsible about my part in cutting carbon use and emissions. I’m interested in leasing a new SUV/crossover hybrid that gets 40 mpg, and looking forward to the upcoming, more efficient hybrid technology. I am interested in the infrastructure grid for super charging coming a long way in the next 3-4 years. Leasing now and waiting for new hybrids/electric car options to be the norm, not the exception.
Perfect example bought a 2000 chevy silverado transmission was bad knew the guy he says easier to buy a newer car than fix transmission it has 149000 miles rebuilt transmission was 1800 truck was 695 still cheaper than new payments
What happened to all of your old CNET videos.
Haha love this!
A friend of mine wanted to get a new car for Bluetooth... I solved it for her with a $15 add-on lol!
Unless it was some appreciating limited edition set to appreciate in price, like the BMW 1M or Tesla Model S's when the first come out, manufacturers tend to offer $$$$'s in discount to bring the price of brand new cars much much closer to nearly new 1 year olds, coupled with lower interest rates... in that instance, it's a win win.
I agree. 1 year old cars are terrible values for Honda or Toyota. I've seen also new old stock Volvo S60s leftover the same price as the used market with 6-12K miles.
Lol, Tesla's aren't appreciating dumbass
Okay never buy a new tv as they are a bad investment and lose their value the moment you plug it in
Please give me a break. Tv stereo equipment etc are things we buy to enjoy life not to make an investment in
Very few of us need tv cars etc. especially in the Bay Area as one can easily get around through public transportation
Tesla got it right a car is a thing for enjoyment. That is why Tesla is pushing their arcade on wheels this week
The best deal in the world if you can’t work on cars is to buy a new car.
How do you know when a car was gently used?
You ALWAYS take a used car you're thinking of buying to a reputable mechanic and have them inspect it prior to purchase. They have no interest in making sure you buy it and thus will tell you what kind of condition it's in.
What Highlander with 110k miles needs 4 brake calipers? This guy must have gone to Just Brakes.
Probably went to the dealership to get prices like this but if the guy lives up here in the rust belt and wasn't having his brakes periodically serviced the corrosion that builds up on calipers (especially rear ones) can kill them.
I found my last car needed an oil change after a while. I needed a new car to avoid that work.
What brake job is 1100.
Stealership BJ is usually around there...
Exactly, 4 calipers!!????? What the hell were they thinking
I bought Alfa Romeo giulia I loved