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Should I put money into car or get a new one? Help!

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  • 08-05-2014 9:41pm
    #1
    11521323
    Registered Users Posts: 304 ✭✭


    Hi, so I recently bought my first car, a Mitsubishi Colt, 2002. It has 82k miles on it and nctd until next march. Had a mechanic skim it over and drive it ad he said everything major inc timing belt is done and a few minor things are worn, but overall it was a good deal, bought it for 1200. I love the colts and love this one, love the shape, feel and look of them. Theres a few minor bumps and scratches on the body, nothing major. Would it be worth my while keeping this car longer than it takes to break, and put money into it and maintain it or would i be better off upgrading once im used to driving? Really not that knowledgeable about cars or car reliability, etc. Thanks for your help!
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    #2
    Idbatterim
    Registered Users Posts: 17,852 ✭✭✭✭Idbatterim


    I wouldnt change unless you wanted to, its an 12 year old car, of course it wont be perfect. Unless you go new, there will always be something that needs doing. Better the devil you know IMO...


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    #3
    colm_mcm
    Registered Users Posts: 73,447 ✭✭✭✭colm_mcm


    I wouldn't put any serious money into it tbh.
    Colts are pretty old fashioned (NOI) and you'll probably eventually want something more refined.


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    #4
    matt70iu
    Registered Users Posts: 415 ✭✭matt70iu


    Well I've found a lot depends on:

    1) How much it costs to fix verses getting another car.
    2) How much you're willing to or have put into the car already.
    3) How much you like/love the car.

    I've put a lot of money into my car 99 golf GTI. Some have told me I'm mad but one with a full service history, newer year and maintained to the standard that I have maintained mine would be 3500 to 4000 and more.

    If you like the car enough and can afford to keep it running, why not? Sounds to me that you really like the car so unless you start having to throw crazy lump sums at it I'd keep it.

    How much money you define as "crazy" is up to you:)


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