Depends if you want a car payment. It sounds like either way you are going to be putting money into a new or old car. I just sold my 08 Tacoma to get a 02 WRX. Less of a car payment. Putting a little money into an old ride can sometimes pay off. Losing a $500 a month payment was no sweat off my back. I'm stoked with my decision. Also consider want versus need. In the end its all about money though. How much you got, how much you can afford to spend. I've found with a bad economy I feel more motivated to save and stretch the dollar. Even if I don't necessarily have to. Just one opinion though. Good luck with your searches! :thumbup:

 

Assuming your bugeye is paid off (even if it isn't) buying a 2009 or 2010 you'll likely end up with around a $500 a month payment... so in other words your projected $1,500 cost to keep your 02 up to your standards is only 3 months of payments on the new 1.... so I'd say keep it if you still love your bugeye... car payments suck and I wish mine were paid off as well... just like the poster below I had a $500 a month payment on a vehicle I didn't like as much and now I save over $100 a month for a car I like a whole lot better... yes I could've easily bought a newer or even brand new 1, but I love the hawkeyes so much that I had to have 1... its been a great car so far and have no regrets...

 

I just did the timing belt on mine. The A/C issue you will have to address, yes, and in fact I'd recommend doing it now rather than later because the defroster uses the A/C to dehumidify the cabin in winter. The clutch will need replacement eventually and the car will need maintenance but nothing lasts forever (well, OK, except hatred -- that's the only thing that lasts I suppose) and the new car will also need maintenance, plus higher insurance costs, plus a car payment potentially, and in any case the 2002 already exists, making it hard to beat if we're counting the money.

I have a 2002 with similar miles and am keeping it. Just IMO. Why not? Besides, if a car that's only 8 years old isn't worth keeping, why buy the same brand again?... Right? Again, just IMO.

Enjoy the car!

 

Thanks for the opinions, I guess that's what I expected to hear from people, just had to actually see it you know? I know it's probably much smarter to just spend a little now and keep the car that's paid off! I wasn't expecting to have a $500 car payment- I figured if I sold mine for around $7k and found a used one for $20-21k, plus the maintenance cash I would be dropping on mine soon, I would end up financing like $12k for a newer car.

 

You know your current vehicle well after four years and have a pretty good idea what maintenance is going to cost you in the short term. Any used car you buy will be completely new to you, and you'll be taking it on faith that it will run well and be a dependable ride.

That said, there can be good reasons to trade into a newer vehicle...but they differ from person to person and by the situation. Dependability, appearance, upgraded safety features, better performance, improved handling, need for additional room are all examples of reasons why people justify trading cars over keeping their current ones. I'm sure there are many others.

In the end...it comes down to you, your situation, and your wants and needs.

 

Personally, 4 years is a long time to have one car. :tongue: You likely won't mind a car payment when you're enjoying your new ride smiling.

But when I was looking at used GR WRX's it ended up being cheaper to get a new '11 than to get an 09/10. So your chances of finding one for $20k may not be as easy as you think. So I would recommend that you start looking to feel out what's out there before getting more serious about this. You may get your hopes up, not be able to find the right car, and then be disappointed with the current car car even though it's awesome. But if you're ok with the 08's then you can def find those for well under $20k.

No car payment is truly a great thing though...even spending $2k on misc things is easier to stomach and spread out than a $400 monthly payment = $4800 per year.

 

Personally, 4 years is a long time to have one car. :tongue:

Car manufacturers love to hear this.
My father kept cars for 7-10 years. That guy seems smarter to me every day.

 

Personally it seems like you're very happy with the bugeye and you should probably just keep it. A well maintained car that isn't worth much is actually worth a lot if you think about it. You won't have a nice big car payment, you'll have to put money into it for maintenance, but most likely less that what a car payment+insurance would cost for the new car.

It may only end up costing you a little bit to get it to go to 200k. IMO that's a really good investment, especially when you really like the car.

On the other hand sometimes a new car is a better decision. I am awaiting a '11 Rex and the payment+insurance will end up being less than $450/mo. I think that's a really good deal for a brand new car.

Also, depends on the stage of life you are in. Right now for me, getting out of my lowered coupe and into something more reliable with a warranty, bigger space, ect is needed.

What I do a lot is make a list of pro's and con's and see what the better decision is. Take some time to think about it and think about what you want to do and what would be best for you. From what I have read though, I would keep the bugeye if I were in your shoes.

 

Bugeye > Everything else

 

Keeeeeep it.