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replace car or play more???


bjvircks
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the setup:

On Tuesday night a hit and run driver totaled out my really sweet Volvo XC70 with me in it. I just got the insurance payoff completed. The offending driver is still on the lam with multiple warrants but the car's owner had insurance that made good to me.

the question:

Should I replace the XC70 or buy a durable POS and spend the $$ difference playing more?

I'm really ticked off because I've only had the XC70 for about 2 & 1/2 months. Only made 2 payments on it and POOF! gone... :angryfire

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That's a tough call. Personally, I would replace the car, and continue to play at my usual rate (which is plenty for me anyway), since having a nice car is an investment, whereas playing more is just blowing through a wad of cash. It's really up to you though. I would keep the nice ride (since that's kinda part of playing), but that's just me. Besides, how happy would you be driving yourself to go play in a durable, but otherwise POS car?

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Justin, if you think a car is a investment I will never trust your financial judgement and you need to please let your partner make the important financial decisions in your life.

Cars only depreciate in value unless you have something really rare but then you ought not drive it, question answered.

it could be said that people will think low of you if you drive a junker and it could effect your job but just buy something within reason. ****, you can get a brand new Kia for less than 10k drive it for two or three years and get another one. I'd not suggest a Kia long term though. for a longterm shiitbox think toyota, honda, mazda or subaru. yep all japanese but at high milage they do tend to hold up better than american cars.

Ignore what I said above if are performance junky or something but you never get to use that part if you're a sane driver so it's like having a 228 cm donek but you ride here http://www.yawgoo.com/trail_map.htm

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Justin.... In the latest Consumer Reports, they did a study.... buying a new Honda Civic and keeping it for 15 years, or selling and buying new every 5 years. They determined you come out $30k ahead keeping the one car for 15 years. (including potential investment earnings with the extra cash) They found about the same with other kinds of cars too, not just the Civic.

BJ..... I'd replace it with an Outback and a roofbox. It's amazing how much stuff you can lug in a station wagon with a roofbox. Buying an suv is approaching insanity these days.

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As far as I'm concerned it's a tossup. First of all, who wouldn't like having a little extra cash to spend on boards and things you'll really enjoy? On the other hand there's gotta be a reason you got new car in the first place. I think Justin is saying a car is an investment in that if you choose wisely you can stand to save alot of money. I guess it all comes down to one thing... Do you want money now or do you want money later?

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... of doing lots of cool stuff will last much longer than cars and will still be accessable(hopefully) long after they should already have taken my liscense. Hence the fact that my beater car which might never die despite my best efforts,is worth less than the Coiler that I'm buying from Mike T. Of course,that car has gotten me to alot of memories...

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Justin, if you think a car is a investment I will never trust your financial judgement and you need to please let your partner make the important financial decisions in your life.

Cars only depreciate in value unless you have something really rare but then you ought not drive it, question answered.

Wow, way to take everything at face value. Investment not in the car and it's value, but an investment in an expensive piece of equipment. In the case of a Volvo, it's an investment in safety while getting from point A to point B. I'm pretty sure that I know first hand how badly cars depreciate, with just selling my car and all. But, with the kind of change that BJ is talking about with an insurance total on his XC70, he could go back through the years and find something that will begin appreciating pretty damn quick, and still have money left over for a modestly nice car (camry, accord, fancy kia that used to look like a merc, etc.), that is, if he has the garage space. Just my $0.02.

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I'm with bobdea and Jack on this one. A car is not an investment. A safe car is worth spending more, but it's still not an investment, it's just common sens.

Back on topic, it's up to you if you feel it's worth it to get a new XC70. If you got one in the first place, it must have been worth it to you, especially if it was just 2½ months ago. Although, if after 2½ months you feel it was not worth it, get something else. If you need the space, get another wagon, don't get a truck (meaning: SUV), nobody needs a truck to get from point A to point B.

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Hey bjvircks,

You didn't mention your condition so hopefully you are okay. A totaled Volvo does not sound like a pleasant experience. It is at least nice that the lowlife had insurance you could access.

Some people like to drive and love their cars, but for me, vehicles are just expensive necessities. I think an expensive car and a POS will both set you back the most money and/or time (money). I like the middle ground. I am on my fourth Toyota truck. The last one was sold at 175K and it was doing great. We currently have a Tacoma and a Tundra. If I didn't need the trucks for our company though, I expect we would be a two bike, one AWD wagon with a roof box (or two :D) family.

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I don't know how much you have to spend but if I were in the position that you are in now I would buy something that would allow you to play as much as possible. For me a car is just a car and I'd rather have something with great mileage that will get me where I want to go for the least amount...look at used VW diesels

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Vw diesels (tdi's) are kickass, that's for damn sure... My cousin has an 01 I believe jetta tdi and he easily gets 40 mpg in the city and easily 50 on the highwayl.. Problem is, have you checked out the used tdi prices lately? Holy retain their value batman.. I have no idea whether it'd be worth spending some money on a used vw to save money, but all the used jettas we've looked up seem to be much more expensive than other decent cars of the same vintage. If you could find a tdi for a good price, I'd say get it. But do'nt hurt yourself looking for a tdi.

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My take is to look at TCO, safety, reliability, and functionality. I love wagons for the extra rear cargo and great MPG. I would recommend a Subaru wagon; better value than the Volvo and great for winter driving. <?xml:namespace prefix = st1 /><st1:city w:st="on"><ST1>or Toyota</ST1></st1:city> had a matrix with 4wd which has the best TCO for a car with 4wd and plenty of room for 4, the new 08s have stability control but no 4wd.

and with any remaining money split it between toys and your IRA or the like.

NHTSA Comparison of Insurance Costs: LINK

Insurance Institute for Highway Safety: LINK

Government Auto Crash Safety: LINK

Government Auto Tire search: LINK

Total Cost of Ownership LINK, LINK

EPA Auto Fuel Economy: LINK

Gas Buddy: LINK

Car Comparison: LINK

National Center for Statistics and Analysis for the National Traffic Administration: LINK

http://moneycentral.msn.com/investor/controls/finderpro.asp

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Well, after a couple of days of looking around at all sorts of vehicles my head is spinning. One unavoidable issue is my need for AWD or 4x4 during the winter months or I don't get up my street and driveway. Another issue is that I really miss the red '98 Mustang convertable I recently sold off, partly to get into the (totaled) XC70. Perhaps by getting a low $ AWD like a used Subaru I could start looking for a higher quality convertable. I came across several Outbacks. I've given thought to a 2000 Outback with 130K miles. I'm also considering a 2000 Volvo V70 XC with 60K miles (the V70 XC designation evolved into the XC70). With the exception of the convertable... vehicles have been little more than tools to get me and my stuff from A to B. As a side note, this is the first time since '82 I've found myself with just one car in the garage. One vehicle has always been a 4x4 since '84. I strong-armed the hit-and-run car's insurance company into covering a rental car for me until this coming Friday, and so I've got a little more time to shop for a replacement.

Any more thoughts, comments or recommendations? Maybe I could kill two birds with one stone... buy a cheap 4x4 pickup truck and cut off the roof with a chainsaw!

The 'before' car is not mine, but a twin I could buy tomorrow if I wanted to.

post-1998-141842234522_thumb.jpg

post-1998-141842234791_thumb.jpg

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Maybe I could kill two birds with one stone... buy a cheep 4x4 pickup truck and cut off the roof with a chainsaw!

Beware the overwhelming draw that you must feel to the Wrangler. No roof rack = little to no way of hauling your toys, unless you want them to get all grimy on a hitch rack. Though the Unlimited does have quite a bit of interior space...and it's a convertible :biggthump .

But it doesn't really feel like a convertible what with the large integral roll cage and all, more like a panoramic sunroof.

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Although your daily driver is not usually an investment, collectible cars have outperformed every other investment option over the last ten years or so, if you believe the hype. With some cars going over 1 mil. regularly ( think several Ferraris and the early Shelby Cobras, certain Porsches and I heard that a couple of 426 hemi Belvederes went in the 350k to 500k range.

So actually cars are a great investment.

Justin, if you think a car is a investment I will never trust your financial judgement and you need to please let your partner make the important financial decisions in your life.

Cars only depreciate in value unless you have something really rare but then you ought not drive it, question answered.

it could be said that people will think low of you if you drive a junker and it could effect your job but just buy something within reason. ****, you can get a brand new Kia for less than 10k drive it for two or three years and get another one. I'd not suggest a Kia long term though. for a longterm shiitbox think toyota, honda, mazda or subaru. yep all japanese but at high milage they do tend to hold up better than american cars.

Ignore what I said above if are performance junky or something but you never get to use that part if you're a sane driver so it's like having a 228 cm donek but you ride here http://www.yawgoo.com/trail_map.htm

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