I currently have an 89 Corolla. Done approx 350K. Has failed WOF on a leaking power steering pump. Every Wof it always has a list of things that need fixing. Yet when I went looking for new cars previously, nothing would really tempt me. Requirements are Must be manual, 2.5 or bigger engine. (open as to what brand), Year 2000 or newer. And max price about $5K paying cash or $10-15K finance. It will be a mostly weekend car so Ks per year will be less than 5,000. (The corolla has been averaging at only around 2,000 per year). Most driving done in work van.
Yet now there is plenty listed that is tempting me. Since I can do my own repairs and servicing. On a purely financial basis, it would most likely be best to just keep fixing the corolla until it dies due to rust. Yet there is the non financial benefits of much better crash safety rating, yearly WOFs, And just having a newer and better car. (The body and interior on the corolla is rough).
What do you think I should do? Yes Im tempted to splurge on a new car. But should I?
mugenb20b,
May 31, 5:39am
It's up to you really. If you can do your own repairs, a p/s pump isn't hard or expensive to replace and will buy you another 6 months of motoring regardless of what the rest of the car is like and make a decision next wof time.
If you have $5k in the bank, personally, I'd keep it there until I actually need a new car, especially when it gets little use. It would be different if you used your car daily and averaging 10 000ks a year or more.
intrade,
May 31, 6:29am
i would keep it because unless you find a 2000 toyota with same old technology unde the bonnet. as a 2005 is now 10 years old and electronics is huegly expensive not to mention all the swaptron muppets with no clue on how to actuarly trace a mechatronic fault correctly = emens costs on you for parts purchase and swapping out that are not faulty. the few things you have to fix on your old car will be like pennis compaired to the bills you will get on a new technology car that is now also old in electronic therms 10 year is dinosaurs. So if you jump get brand new one if you dont repair your own or stick with older stuff and look after it.
thejazzpianoma,
May 31, 6:47am
I would personally upgrade, despite popular opinion as you have discovered all cars wear out eventually. While you can keep repairing/replacing components it becomes uneconomical from a time and financial perspective. That said, from a financial standpoint, I probably would personally not spend too much for the amount of km's you are doing. It's also not likely going to be necessary given your criteria.
Coming from an older car, I would suggest you use caution with trying to rate the power of potential vehicles based on their CC rating. In newer cars there is a massive variance in terms of technology and CC rating becomes pretty much irrelevant. A better guide to performance would be 0-100 times. To give you an idea of what I mean, there are 1.4 litre VW's out there which are as quick or quicker than some of the approx 2.5 litre options in your price range, that's a BIG variance.
As for what to choose, there are lots of options. If you want to keep close to your 5K I would be going for a "hidden gem", something that is under the radar of our "Japanese or nothing" mindset in this country.
With wanting the extra power, are you wanting to tow or just after something more sporty for fun etc?
Best of luck with it.
mals69,
May 31, 7:00am
Keep it - you could fix a power-steer pump every month and would be bigger all compared to the depreciation it costs many each month with modern vehicles. Buy a classic/muscle car and the appreciation could pay to service your mighty corolla.
aredwood,
May 31, 12:29pm
I agree about fixing then selling the corolla. As for a Falcon / Fairmont, Manual ones are like hens teeth. (would have probably bought one ages ago if they were easy to get in manual) And I find auto gearboxes take away alot of the benefits of a larger engine. I used to be driving a 92 Subaru SVX. (3.3L auto) Comparing it to the corolla. The corolla was alot more responsive even though it has less than 1/2 the power of the SVX.
aredwood,
May 31, 12:42pm
Have to admit im not so keen on a petrol turbo car. (guessing the 1.4 would have to be either turbo or supercharged?) Partly because of insurance, partly due to a friend who had a Passat that had major electrical issues. And a turbo car is more likely to have been thrashed it whole life. (might as well just get a turbo Subaru)
As for why I want some power - Partly towing. And partly to make long trips more enjoyable. And to make it easier to pull out into fast moving traffic. The towing is just a little trailer for trips to the scrap dealer. And camping trips. (I always take alot of stuff with me)
kazbanz,
May 31, 3:07pm
aredwood- Im looking at what you are saying and thinking "why?" You have a 1300 or 1500cc corolla now. The car is used for pleasure rather than a daily driver. $5000-$7000 should get you a higher milage example of a lot of really nice cars. Given what you are looking for in a car Im thinking Toyota corolla 1800 manual. Im comfortable it will do everything you need. The newer 1800cc cars are really peppy compared to the 1990's stuff
trogedon,
May 31, 3:27pm
Agreed.
fordcrzy,
May 31, 3:50pm
tart up your one. sell it and buy an 1800 corolla that fits your budget.
msigg,
May 31, 4:01pm
fordcrazy has the best Idea here. get a newer corolla and you won't know yourself. done deal.
xs1100,
May 31, 7:30pm
yes always a interesting discussion I have a 25 yr old car done 330ks and looking rough BUT goes through every warrant ok does bug r all ks probably 2000 a year and often think i should get rid of it but thing is it looks rough but goes fine wouldn't have a problem driving it to wellington and if I want to do flash have a company car
Pfft, close but no it was written by the same man who lobbied the govt to retain 6 month WOF's on over 6yo cars, and lost. It was about protecting the profits (and even the existence of) MTA members and not much else.
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