Dropped a Grip of $$ To Fix the Wife's Car - Time to Get Drunk

[McQueen77]

Came to a crossroads with her 2003 Pontiac Vibe (Basically a GM body with everything else based on the Toyota Matrix) that she has loved to death, 94k miles, or cut our losses, sell it and get a new or CPO car. She's had eyes on the Tiguan for a long time but when we did the numbers, we just couldn't justify adding a car payment to the budget. So we decided, keep hers going for 3 more years, by then mine will paid off, then she can get the Tiguan.

So, a little background. This car has been bulletproof. More reliable than any car I have ever owned. When it was new it was fine to drive, handles ok, tons of room/utility, but totally gutless 1.8L engine. If it didn't have a 5 speed it would be painful to drive. Replaced the clutch assembly at 92k miles and kudos to her for getting that many miles in stop and go traffic for 9 years. The shocks are original and toast, brakes done, shuttering when stopping i.e. warped or fucked up rotors, and tires had about 2/32nds tread.. So, brought it to this family owned Discount Tire Center in Silverlake that she's gone for 8 years that I used to take my Tacoma to as we know them. And now for the damage:

Replaced all 4 shocks and struts, MacPherson
4 new Pirelli 4 Seasons
Front and Rear Brake Pads
Front Brake Rotors
Tire Protection Plan, Labor, balancing, blah blah blah

$1700

Jesus. Suspension, tires, etc are not my thing so DIY was not an option but we saved some money by me changing the spark plugs, ignition coils, oil, filter, air filter, cabin air, PCV valve, battery etc. Everything else is A-OK so this thing will probably run into the apocalypse now.

At least it drives like new. Jesus this thing was fucked. I hated driving it. Shocks were destroyed, just toast. Front rotors had divots in them and they needed replacing because if they sanded them down they would have been too thing, totally worn. Brakes had about 30% left if that.. Anyway, it is done.

So I'm going to drink like 6 coors lights in a row now and try to keep telling myself, "thats 4 Tiguan Payments".. "Our insurance would have gone up. This is the practical choice." We're still renting for a while, ave. home price is still over half a million anywhere we'd want to live, still not enough $ in the emergency fund, trying to have a kid, on and on.

Someone tell me I made the practical choice before I go drive that thing off a cliff. Did I mention it was $800 for the clutch, so grand total is:

$2500. But, bare in mind, thats $2500 spent on the car in the span of 5 years with no car payment and zero mechanical issues. Ah jesus..

picture of vibe is from 3 years ago but you get the drift.. looks about the same. those were a shot of the shocks etc. that i took today at the shop. just worked..

so, anyone out there feel my pain or does everyone on this forum just drive new cars every 3 years?

 

[troyguitar]

That's nothing compared to the kid you want to have. Try adding a couple more zero's to the end :lol:

GTI is my first new car but I like the experience so much that I will probably be driving a new car every 2-3 years from now on. Not financially sound but it makes me happier and less worried about random expenses.

 

[Thumper]

Someone tell me I made the practical choice before I go drive that thing off a cliff. Did I mention it was $800 for the clutch, so grand total is:

$2500

Sorry man, can't do it. Sure, that was "over the course of 3 years"......but it was ALL actually within the last few months.

You just dropped $2500 in FIXING a car that is worth about $5k. :iono:

Let me put that in perspective for you.

If you go sell it now, you will end up with $2500 ($5000 from the sale, minus the $2500 you just spent...$2500 in your bank).

If you had SOLD it prior, you might have gotten $2500-3000 for it in the as is condition, than dumped that extra $2500 you DIDN'T spend into your account as well....$5000-6000.

How bad would your payment REALLY be on the Tiguan with $6000 down?

Also, even with a paid off car that is that old and has been reliable (it's a GM product about to roll over 100k miles...it's gonna start breaking) you may not have a payment....but you have to have money to FIX it in case it breaks so you can USE it. So you should be putting money aside in a separate account every month to cover issues. That's basically a payment, but the fun part is, you can't budget for it. I pay $x.xx every month......it never fails, I can plan for it, I have a nice car to drive as well.

You can go 4 months with no payment....yay....then the head blows.....$3000 please. How's that "no payment" working out?

Every one has different stuff going on, but I did the math a long time ago and realized that it is better to just always plan on a car payment as a standard expense like food, mortage, utilities, ect. Something that is just a requirement. I do that instead of trying to milk every last mile out of a car that I hate just because it's "paid off".

Stop being a cheapskate....go get your wife a Tiguan, show her you love her.

 

[APRMK6GTi]

oh wow, too bad u got the vibe, even though they're essentially the same car the matrix counterpart has higher resale value. but what done is done, but the suspension on the vibe/matrix/corolla has the easiest suspension to work with. it has an solid beam in the back and macpherson front is pretty easy to replace too..shoulda got some kumho/hankook/falken tires that are pretty good for much cheaper. maintenance on this car should be super cheap..i know because i had a corolla

 

[Uberryan]

Used Tig in the upper $20k's CPO with 6k down, looking at what $350-410/month depending on credit, and also not taking into consideration if there is some sort of special offer going on, etc.

 

[project92raddoslc]

The price of the Tiguan goes up quickly once you add a tune, intake, turboback and a nice drop though.

I understand what you did. If the car gets you by a few more years then i'd consider it money well spent. Anything in my area that runs and drives will sell for $2000 on CL regardless of miles or condition. If it gets you by another two years then begins to have issues then drop it like a hooker and find the best deal you can.

 

[McQueen77]

Sorry man, can't do it. Sure, that was "over the course of 3 years"......but it was ALL actually within the last few months.

You just dropped $2500 in FIXING a car that is worth about $5k. :iono:

Let me put that in perspective for you.

If you go sell it now, you will end up with $2500 ($5000 from the sale, minus the $2500 you just spent...$2500 in your bank).

If you had SOLD it prior, you might have gotten $2500-3000 for it in the as is condition, than dumped that extra $2500 you DIDN'T spend into your account as well....$5000-6000.

How bad would your payment REALLY be on the Tiguan with $6000 down?

Also, even with a paid off car that is that old and has been reliable (it's a GM product about to roll over 100k miles...it's gonna start breaking) you may not have a payment....but you have to have money to FIX it in case it breaks so you can USE it. So you should be putting money aside in a separate account every month to cover issues. That's basically a payment, but the fun part is, you can't budget for it. I pay $x.xx every month......it never fails, I can plan for it, I have a nice car to drive as well.

You can go 4 months with no payment....yay....then the head blows.....$3000 please. How's that "no payment" working out?

Every one has different stuff going on, but I did the math a long time ago and realized that it is better to just always plan on a car payment as a standard expense like food, mortage, utilities, ect. Something that is just a requirement. I do that instead of trying to milk every last mile out of a car that I hate just because it's "paid off".

Stop being a cheapskate....go get your wife a Tiguan, show her you love her.

sweet, thanks.

i wanted her to get the tiguan but she wanted to keep the car. end of the day, yeah, the payment would be close to $400 a month. i hear what you are saying and i agree with you but, the car probably wont have any issues for the next 2 years or so and then we'll sell it. maybe it will but i doubt it. $400 (not to mention increases in insurance premiums, etc.) p/month for 2 years is close to $10k and you still have a car not close to being paid off, and yes, piece of mind. why do you think im in the GTI? i dont want to drive a 10 year old shit box.

you are paying a lot more money in the long run to always have a nice car and piece of mind. doesn't take a financial wizard to understand that its usually cheaper to keep'r then to get another new car. show me some math. everything you listed is assumptions that x, y and z will go wrong. she got the car for less than 20k brand new and loaded (for 2003) cuz her dad was a high up at NUMMI/GM. her payments were like $300 a month for 4 or 5 years.. she then didn't spend a dime on the car for another 5 years. she liked it and it was reliable. 5 years in a new car would have been like another $20k but instead we stuck that in the bank. then we came to this. i voted get out while the getting was good but she still loves the car. don't ask me why.

i agree with you on a 'i love cars level and don't want to worry about bullshit like this level' but financially, im not sure your numbers add up. and once again, i would have ditched the car. but its her car and for some reason she wanted to keep it. me going and not being a 'cheapskate' and 'buying her the tiguan' are pointless sentiments.

 

[imatwork]

sweet, thanks.

i wanted her to get the tiguan but she wanted to keep the car. end of the day, yeah, the payment would be close to $400 a month. i hear what you are saying and i agree with you but, the car probably wont have any issues for the next 2 years or so and then we'll sell it. maybe it will but i doubt it. $400 (not to mention increases in insurance premiums, etc.) p/month for 2 years is close to $10k and you still have a car not close to being paid off, and yes, piece of mind. why do you think im in the GTI? i dont want to drive a 10 year old shit box.

you are paying a lot more money in the long run to always have a nice car and piece of mind. doesn't take a financial wizard to understand that its usually cheaper to keep'r then to get another new car. show me some math. everything you listed is assumptions that x, y and z will go wrong. she got the car for less than 20k brand new and loaded (for 2003) cuz her dad was a high up at NUMMI/GM. her payments were like $300 a month for 4 or 5 years.. she then didn't spend a dime on the car for another 5 years. she liked it and it was reliable. 5 years in a new car would have been like another $20k but instead we stuck that in the bank. then we came to this. i voted get out while the getting was good but she still loves the car. don't ask me why.

i agree with you on a 'i love cars level and don't want to worry about bullshit like this level' but financially, im not sure your numbers add up. and once again, i would have ditched the car. but its her car and for some reason she wanted to keep it. me going and not being a 'cheapskate' and 'buying her the tiguan' are pointless sentiments.

You did the right thing. Buying a new car just for piece of mind isn't the best to do financially. Good job for being responsible adults

 

[Desert MVIGTI]

That's nothing compared to the kid you want to have. Try adding a couple more zero's to the end :lol:

This.

Plus it sounds like your wife was totally cool driving the Matrix. 2 years: under a hundred dollars a month.

Plus...you already did it. Even if it was the stupidest decision of all time, which it certainly wasn't, you no point in checking in with the hindsight "you could have put a KO4 on that Tiguan for $480 a month" guys.

Sleep the sleep of the just.

 

[PandaGTI]

Came to a crossroads with her 2003 Pontiac Vibe (Basically a GM body with everything else based on the Toyota Matrix) that she has loved to death, 94k miles, or cut our losses, sell it and get a new or CPO car. She's had eyes on the Tiguan for a long time but when we did the numbers, we just couldn't justify adding a car payment to the budget. So we decided, keep hers going for 3 more years, by then mine will paid off, then she can get the Tiguan.

So, a little background. This car has been bulletproof. More reliable than any car I have ever owned. When it was new it was fine to drive, handles ok, tons of room/utility, but totally gutless 1.8L engine. If it didn't have a 5 speed it would be painful to drive. Replaced the clutch assembly at 92k miles and kudos to her for getting that many miles in stop and go traffic for 9 years. The shocks are original and toast, brakes done, shuttering when stopping i.e. warped or fucked up rotors, and tires had about 2/32nds tread.. So, brought it to this family owned Discount Tire Center in Silverlake that she's gone for 8 years that I used to take my Tacoma to as we know them. And now for the damage:

Replaced all 4 shocks and struts, MacPherson
4 new Pirelli 4 Seasons
Front and Rear Brake Pads
Front Brake Rotors
Tire Protection Plan, Labor, balancing, blah blah blah

$1700

Jesus. Suspension, tires, etc are not my thing so DIY was not an option but we saved some money by me changing the spark plugs, ignition coils, oil, filter, air filter, cabin air, PCV valve, battery etc. Everything else is A-OK so this thing will probably run into the apocalypse now.

At least it drives like new. Jesus this thing was fucked. I hated driving it. Shocks were destroyed, just toast. Front rotors had divots in them and they needed replacing because if they sanded them down they would have been too thing, totally worn. Brakes had about 30% left if that.. Anyway, it is done.

So I'm going to drink like 6 coors lights in a row now and try to keep telling myself, "thats 4 Tiguan Payments".. "Our insurance would have gone up. This is the practical choice." We're still renting for a while, ave. home price is still over half a million anywhere we'd want to live, still not enough $ in the emergency fund, trying to have a kid, on and on.

Someone tell me I made the practical choice before I go drive that thing off a cliff. Did I mention it was $800 for the clutch, so grand total is:

$2500. But, bare in mind, thats $2500 spent on the car in the span of 5 years with no car payment and zero mechanical issues. Ah jesus..

picture of vibe is from 3 years ago but you get the drift.. looks about the same. those were a shot of the shocks etc. that i took today at the shop. just worked..

so, anyone out there feel my pain or does everyone on this forum just drive new cars every 3 years?

I think you made the right choice. I was in the same situation with my wife.

Our Condo has a tandem garage and she kept hitting things pulling in and out of the garage. Had to replace a mirror 1 month after we moved in, she kept scratching up the bumper, etc etc etc until finally she forced her car (a 2003 Honda Accord EX-L with Navi) past a trash can on the driver's side of the garage (why she didn't move it I don't know) and my mountain bike and road bike hanging on the passenger side of the garage. Well she got stock and in a panic she just floored the car getting the bikes to spring onto the roof, hood, and both fenders denting everything.

After a year I got tired of seeing how bad her car looked and decided to get her a new car (she was my fiance at the time)... we ended up getting a 2010 Candy White VW CC to match my 2010 GTI which had the back up camera as well as front and rear parking sonars which actually help as she has not nicked the car in any parking spot yet.

She agreed that she would let me sell the Honda... well for a year she wouldn't drive her CC unless it was just down the street to her work because it was just too nice. Instead she would use the Honda when she would see patients in shady neighborhoods (she works in home health)... so a year went by and she wouldn't let me sell the Honda.

While she was gone on vacation, I decided to take the Honda to a body shop to make it look good from far away since I drive it on occasion and was embarrased with how it looked... just cost me $500 to fill in and respray the hood, fenders, front and rear bumpers, and blend the doors... another $500 for clear bra (don't trust aftermarket paint) and another $400 for new tires (went with cheap Hankook's). The car came out much better than I expected... you'd have to be right up close to the car to really see the paint defects... anyhow We've put another 10,000 miles on the car since then requiring little more than oil changes and spark plugs... it's a Honda with 110,000 miles so maintenance is cheap and easy.

Since I've been using the Honda more, she has been driving the CC more and finally after more than a year of ownership discovered the joys of the GIAC stage 1 tuned 2.0T and seems to drive the CC much more now...

However now that I'm trying to buy a house here in Socal... there is a ton of hoops to jump through to buy and having 3 car payments (GTI, CC, FJ Cruiser) is frowned upon even though I can show that I can afford it all.

She tells me to go ahead and sell the CC (but I can tell she doesn't want me too and I don't want to either cause it's such a sexy car)

On hind sight I should've just rehabbed the Honda at the beginning and not get the CC.

Being that you are just renting, having less car payments will help greatly when it comes time to buy a house.

If you do want to buy a car... we've got a great VW CC to sell with very very low miles.

And since the Vibe is basically a Toyota underneath made at the Nummi plant, you can count on the engine and drivetrain being reliable for lots of miles.

Interestingly the Nummi plant is now owned by Tesla and many of the original workers are now working there which means the new Tesla Model S has the potential to have really good quality from the start.

 

[McQueen77]

Right on, good post. Yeah, I'm not sure what mr. wizard of the financial world was talking about but buying a new car w/the debt that goes along with it is not the right move right now. No one really wants to drive a 10 year old Pontiac right? Duh. But actually, I drove the shit out of it tonight after we got it back and it feels better than new. Great shocks/struts, tires, brakes.. The thing rides fine. Oh shit, it doesn't have bluetooth and Nav. File that one under who gives a shit. Working in the entertainment industry for 15 years or so, I work with and know a lot of people who have way more money than me. A lot of money. Net worth that probably destroys a large % of people on this forum. Do you think they all drive new luxury cars? How about just new cars? No, they don't. Many of them don't. At all. Some of those same people advised to 'fix her car' instead of buying a new one. I know more people driving modest cars with very unmodest bank accounts than you would believe. L.A. is also full of people who don't have a dime to their name who manage to scrape together their lease payment on their Benz. I call total bullshit on that scene.

With our FICO scores, we could have gone down and leased a Tiguan for less than $300 a month in 2 seconds. Sign and drive. Now thats 'piece of mind'. But we didn't, and its not because we don't understand finances and money. Honestly we have the income and credit to lease an S4, but why would we? So we can drive a nice car. So what? We understand $ all too well.

And yes, re: getting preapproved and beyond for a house, banks are all about debt to income ratio among many, many other daunting factors. Especially for people in our situation where more than half of our income is 1099. Only indie business owners can really understand this, but when a lot of your income is not W2, its a whole other ballgame with banks. I don't expect the lifer W2 people to understand but its all about write offs vs. your adjusted gross i.e., your income after all those things you get to write off that W2 people don't get to write off. Lets just say its 10x harder to get approved for mortgage with 1099 income and income from various sources/clients. Your options are to either make waaaay more money, or pay uncle same a griiiip of cash every year so you can 'show' these lenders a heftier bottom line for your adjusted gross. But since when did small biz owners/indie contractors not itemize?

I also don't expect people from bumfuck Indiana where houses cost $150k to understand either but a lot of lenders are looking for 20% down from people like us. You think the median household income in L.A. county is any higher than buttfuck indiana? Guess again. Maybe by 10k.. Thats right. People in LA don't make more money but it costs them 100 times more to live than you. Yeah, cry you a river. None of this 6% FHA loan scene for us. So lets do the math, thats roughly $100k cash down, not to mention they are asking to see at least 6 months of our equivalent potential mortgage payment in the bank liquid on top of that, 5 years bank statements, plus cash for closing costs etc. for all these neat short sales and foreclosures in the area.. I don't now about you guys, but thats a lot of liquid up front just to live somewhere that, last time I checked, isn't exactly the investment choice of the year anymore.

So yeah, having another $25k in debt or so, 'secured' by an auto loan or not, isn't the best move right now for us. Sorry, I'm like 6 coors light pints in.. Time to turn in. Ill reread in the morning. Good thing I cant find my keys or else Id go take darth vader for a spin around the block just to hear my ultra riced out DV echo through my neighborhood..

 

[stevenchkim]

Good post McQueen. You made the right decision for you and your spouse in fixing the Vibe. I don't think there's a 'right' answer for how to spend your money. Decide what's important to you and do that thing.

Darth Vader, lol. I used to be really bothered by the increased DV noise, especially in enclosed parking lots, bc the ladies would give me strange looks, and none flattering. Took me a year to get over it, and now with the catback, I've got other concerns - like setting off sensitive alarms with my loud ass exhaust Douchey? Yes. Fun? Yes.

 

[PandaGTI]

Yeah... 1099 sux... The majority of my income is 1099 so I have to make a bunch of right offs too. What worse is that the harder you work means you make more so you have to right off more or you give it away in more taxes.

What's ironic is that the bad mortgages was originally supposed to be for people that where 1099's...

Anyhow the Vibe and my wife's Honda Accord make great city cars. Looks decent enough to drive, low maintenance, don't have to worry about door dings, bad parking lot attendants, potholes, tight parking, steep driveways... We drive the Honda into a Chinese shoppin center and I don't have to care so much.

Otoh drove the CC with the wife to Beso in Hollywood and I was so paranoid about the valet that I tipped the guy up front to keep the car close so no dents and curb rash... It worked and he left the CC right in front the whole time... But still I was stressed the whole time.

Btw you can add Bluetooth and iPod connect to the vibe... I use a Dice unit in the Accord and it pipes handsfree calling through the speakers, Bluetooth audio, iPod connectivity, and it's all hard wired... They have it for the Vibe too

 

[flomaa6]

It's so true what McQueen says about people with unmodest bank accounts with a modest car, my father is self employed and works in the food distribution business he has been doing that for over 20 years and he still drives his piece of crap Chevy, and his friends are the same way they own mad restaurants and drive ford and Chevys, but they all have a nice houses and in the end it's more important where you sleep then what you drive.

 

[junker1]

Frugality is a lost art in this day and age. Not cheapness, but wise careful spending. And it's honorable. A fool and his money are quickly parted.

Okay, so if your car lasts 4 months with no additional repairs then you are ahead. Anything on top of that and it's all gravy. Consider switching out when you start getting nickel and dimed. And then you can set aside some money for a down and use the remaining value of your car toward the new purchase as well. Just TTL alone will cost you $3k and you don't get a dime of that back. It's a tough economy and no reason to impulse buy. My hat is off to you sir. Just make a clear upgrade plan with wifey and stick to it. Cheers.

P.S.: Warren Buffet, the richest man in the world, still likes in the house he raised his kids and drives a Cadillac. That says a lot to me...

I spend too much money on the GTI but on a monthly basis it is much cheaper than a new car and it is perfect for me right now.