Being that I'm still a student at 30 and my husband, at 25, is in his first year of medical school, I don't really take for granted the things that I can rely on, both daily and financially.
And I never, ever stop loving this choice bit of matter:
My 1999 Honda Accord.
A short background:
I bought this car in 2002. It had 63,000 miles on it. It was an amazing purchase, as the dealership managed to absorb the loan for my crappy Grand Am into it. I used this car to deliver pizza both in Colorado and Illinois; I drove it from CO to IL and back many times. It has had some adventures, yes (theft of the entire thing; theft of the CD player; etc.), but I don't consider it unlucky at all.
My dad doesn't understand why I will buy a cared-for Honda over, say, a new Hyundai w/their fatty warranties. Well, there is the fact that I am hard on cars, but there's also the fact that I loathe having to take my car into the shop, and I really do need a reliable car.
Here's to Honda reliability: in the 6 years I've owned it, the only non-routine repairs I've had to do on it have been replacing something to do w/the ignition switch ($150), replacing a radiator hose ($250, and a story unto itself) and replacing the clutch ($900 - yeah, expensive, but some kid got me into an accident and long story short, it paid to have that repaired). Routine stuff has been replacing brake pads, getting new tires twice, getting some new belts. Oil changes, of course.
So my car has cost me $1300 in repairs. That is over 6 years, so it has cost me $217 a year in repairs. Routine maintenance costs have probably been about $1200, which is another $200 a year.
BEAR WITH ME AND KEEP READING
My car has been paid for for over a year. The original loan payments were about $240 a month. That made my cost of owning/running it about $275 a month.
But, my car is 10 years old now, and has 190,000 miles on it. The Accord symbol has fallen off, and the power locks are a little off (but hey, I can still lock the car). But there is no rust; no noted issues in driving, handling, etc.
I question if a Hyundai could have that mileage and still be as sound as my Accord. I am confident that this car will get me another 10,000 miles, at least, without any major repairs. The Kelley Blue Book states that it is worth the following:
Trade-In: $1700
Private Party: $2900
Retail: $4900
The way a similar Hyundai stacks up? $450/1300/2600. Hm. I note this because of aforementioned "story unto itself": this summer, RIGHT AFTER I got off the phone w/my mechanic (an excellent person, deserves his own post) about fixing my clutch, a kid pulled out in front of me and I rammed into him. It was his fault, but he had good insurance, bless him. A few days and phone calls later, the company cut me a check for $5,000, $500 less what the car was worth, and I got the body fixed for $3500, then had the clutch repaired. (So yes, I had money leftover.) Granted, I couldn't get the body done w/Honda parts and still come out w/money to spare, so I had them use aftermarket parts, and I know they are not as good. But, my car IS old, so I was willing to chance it.
I still have full coverage on my car, because as noted above, it's still valuable. And it's still valuable because it RUNS and it RUNS WELL and there is the fact written inbetween the lines above: I very rarely have to take it to the shop. Meaning, my car is not a hassle. When I think of people telling me about warranties on less-well-made cars, I think of the line in the movie Tommy Boy about "a guaranteed piece of crap." I don't actually think Hyundai's are pieces of crap, but I've owned NINE CARS, this Accord being the last in the line. This is why I can never go back.
So when people tell me Honda's are too expensive, or the insurance is too high, etc., I want to tell them to think ahead, and take into account the following:
1. Yearly car upkeep (repairs, routine maintenance)
2. Monthly payments or purchase price (if bought outright) as well as insurance
3. The cost of time lost dealing w/repairs, and the priceless emotional toll
I don't have figures for owning a similar car for 6 years, but you can use mine above to figure out the cost of your car.
This is one area where it pays, I believe, to think long-term. Cars are expensive. Cars are a hassle. But they don't have to be thorns in your flesh.
At some point I will share the tale of Brandon's Civic. :)
