I have a "clunker," but I didn't cash in on the Cash for Clunkers program. I'm not sorry. I test drove the Chevy Traverse and the Honda Pilot. They are both nice cars. The Chevy had all the bells and whistles you could ask for and a nice ride to boot. The Pilot has fewer bells and whistles, but a solid ride and a great reputation. But, they both gave me a bit of sticker shock. (It's been ten years since I last bought a car.) The thought of a hefty monthly payment, compared to zero now, threw what seemed like a good deal into reverse.
Plus, the Honda dealer I went to didn't even have any Pilots in the make and color I wanted. As for the Chevy, I was uncertain about buying from a bankrupt company, especially a first model year vehicle. There was also a sentimental factor that played a role in my decision. My 11 year old thinks of the car as "hers," and she cried at the thought of it being junked. And there's nothing "wrong" with it. I take the metro (as some of you who read my blog can attest), so the 10 year old car has fewer than 90,000 miles. The blue book value is about $3,000, so the $4,500 incentive was really only $1,500 to me. With few cars on the lot, I didn't even try to haggle. Probably just as well because, according to Edmunds, cars prices have jumped $1000 since the Cash for Clunkers program started driving hordes of customers into showrooms.
While the economic and emotional value of my current ride put the brakes on a new car purchase for now, I know I won't be able to keep the car forever. I'm hopeful that when I'm ready to buy a new car, the fuel economy and competitive choices will be even greater. If not, I'm likely to go the "previously owned" route.
Comments
I also have no intention of trading my "Clunker:(A 1988 Isuzu Pickup)I'm putting about $600 in repairs into it now, it's been a good sturdy friend for 9 years now, and I see no reason to junk it just because it "Looks Bad" (Wife's Quote)
My last "Clunker was a 1965 (NOT A Misprint) Dodge D-100 that gave me somewhere around a million Miles of service (850,000 on the speedometer and 3 years with the Odometer Broken (Gears wore out))At the end I gave it to a kid planning to hot rod it (Good luck) and bought My Isuzu pickup rom a neighbor for $2,400.00.
I cannot fix cars anymore (Stroke) but I've found that if you can fix something cheaper than buy new, do it.
i have a 1998 nissan 200sx and it only has 82,000 miles. it is far from the junk yard. plus it's gas mileage is comprabale to the toyota priz. with 38 miles town and 43 highway. also more horsepower than the priz to boot. i would never give up my clunker. nissan was ahead of there time when they built this car.
Stephanie:
You are being far too practical and sensible in your decision making. Our political and industry leaders want the consumer to again go out and spend today and not think about the consequences of tomorrow.
Of course come to think of it, this kind of mentality got us into our current economic mess in the first place!
I have a 1997 Toyota Avalon that I bought new in March 1997. It still drives like a new car. I change the engine oil annually and the transmission oil every three years now. I use the middle grade gasoline and the engine purrs like a kitten. No knocks or any other sounds coming out of the engine. I waxed the car in November, 1997 and it still has a shiny new car look. There is no rust and the body has a few nicks from cars that owners open their doors in parking lots. I don't know how Toyota can exist when it makes such good cars that last so long. I wouldn't give up this car for $4,500 even if I were to buy a new car.
Jack Billings
sugrad,
I'd like to think the decision was a cold, hard, business decision. My daughter was ok with the idea of getting rid of (but not scraping) the car when she thought the new one would come with a DVD player and iPod plug in.
Funny, that may have played into the decision some, too. As much as I love the electronic babysitter in times of distress, I like talking, singing, and playing those silly car games on long drives with the kids. If there are movies in the back, that won't happen.
Stephanie,
That was a very thorough and sound thought process (although I suspect your daughter's tears played a larger role in your decision than you'll admit). A couple of months from now, when people who traded in paid-for cars with nothing "wrong" with them realize they have 57 or 58 payments left on an end-of-the-model-year car that under normal circumstances would not have been one of their top choices, I'll bet they'll wish they had a do-over.
"
metro (as some of you who read my blog can attest), so the 10 year old car has fewer than 90,000 miles. The blue book value is about $3,000, so the $4,500 incentive was really only $1,500 to me. With few cars on the lot, I didn't even try to haggle. Probably just as well because, according to Edmund
"
Conversely, by Tuesday would you guess that the sticker shock will have decremented by $999.99? But with sale prices dropping will factory cut cost by reducing quality of precursors, metal, plastic, rubber, protective coatings, etc.? With other rare clunkers now converted to Bastiat Windows your clunker will morph from clunk into rare antique from the days when cars were built without bamboo transmission -- but with real plastic. Each summer you can enter it into 4th of July Parade. When your daughter is 44 she can sell it for a king's ransom as the buyer addresses her politely as:
Your Highness