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The other side of that pancake... Posted by Mike Lynch [Email] (#81) [Profile/Gallery] (more from Mike Lynch) on Fri, 15 Feb 2008 17:38:19 In Reply to: How quickly do repair costs accelerate on an '03 9-5?, MTS, Fri, 15 Feb 2008 07:54:15 Members do not see ads below this line. - Help Keep This Site Online - Signup |
There's an even bigger number of folks who can't imagine (or afford) a new car with a warranty and the only way they can enjoy them is used.
You're the other side of that pancake. Your car goes outa' warranty and your questioning continuing the relationship with your car. What drives me crazy about your side of the pancake is that you'll spend $30k on a new car just to avoid a potential repair bill of only 10% of that amount.
I didn't buy my Saab until it was 3 years old and had 37,000 miles and I got it with the CPO warranty. It's now 8 years old with 92k and I really only had more than minor item (I consider a SID replacement a minor item) and that was I was stranded at home one day needing a CPS, crankshaft position sender.
Future depreciation will be somewhat less than the depreciation of the first 4 years. 4-5 year old Saab, low miles, probably worth $10k or so in trade. Four years from now probably only worth $2-3k. But it dropped almost $20 the first four years.
Low miles is what sells any car, so 5 years or more isn't as important as low miles of say less than 50k, less than 10k per year. So you're in good shape for awhile, low depreciation past the 4th year and low miles for marketability.
I suggest keeping it. Coolant leaks generally aren't that serious or expensive, hoses and radiator kinda' stuff. Plenty of trouble free life left, low depreciation, state of the art car, high safety, but some folks, god bless 'em, just have to have a new one.
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