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[Mikey Jr.]

So I'm not sure what the consensus on this is. I have a 2015 Toyota camry. Has about 87000km or 50k miles. (I'm Canadian).
So the car is coming up on 8 years old.

My mom says it's a better idea to sell the car now while it still has good resale value, and buy a new (or newish) car now, rather than pumping money into my old car.

But I do maintain my car. Never skip oil changes, or filters. Don't push it past what it can't do. Etc. So it has been running well. I'm assuming with reselling and buying a new car, I'd be out about 12k? Roughly I think.

What does everyone here do? Just take care of your car but run it into the ground, and pay for maintenance as it comes?


I'm not a car guy at all. Really could not care less about having the latest and greatest. I treat it more like a tool. Just to get from point a to b. Main priority for me is reliability.

 

[EviLore]

50k miles isn’t much for a Camry. If you’re looking at cost of ownership, buying a new car is the highest, and sticking with what you have now will be the lowest.

 

[Punished Miku]

If you trade it in at a dealership I think they'll try to short change you and then of course they'll sell it high. If you can sell it privately yourself for a good price, no reason not to.

Some new cars have several month wait times.

 

[0neAnd0nly]

Keep.

Buy gorilla glue.

Enter one of those contest to win a new car, where you have to be the last person left touching the car.

Put the puzzle together as you will.

 

[zcaa0g]

Since you maintain it well, run it into the ground.

 

[AmuroChan]

I'm not sure if it has come down much, but used car value was at an all time high earlier this year due to the global supply chain issues. There were cases where a used car was almost as expensive as a new car of the same model because you'd have to wait months to get the new car. I bought a new car during the pandemic and had to wait 9 months.

 

[EverydayBeast]

Some of the greatest technicians work at Toyota, the new camry is a beauty.

 

[JimmyRustler]

My Golf is approaching 100k kilometers. Not even thinking about selling it because I had hardly any issues so far.

 

[Men_in_Boxes]

In dog years, your Toyota Camry is still a zygote. Those things run 300k miles easy as long as you don't put sugar water in the gas tank.

 

[th4tguy]

Sounds like your mom has made questionable financial choices in her life.
Drive that POS into the ground while paying yourself car payments to save for the next POS to drive into the ground. Cars are the worst financial investment you can make and people who treat them like a cell phone (updating them every so many years or leasing) are flushing money down the toilet.

 

[StreetsofBeige]

So I'm not sure what the consensus on this is. I have a 2015 Toyota camry. Has about 87000km or 50k miles. (I'm Canadian).
So the car is coming up on 8 years old.

My mom says it's a better idea to sell the car now while it still has good resale value, and buy a new (or newish) car now, rather than pumping money into my old car.

But I do maintain my car. Never skip oil changes, or filters. Don't push it past what it can't do. Etc. So it has been running well. I'm assuming with reselling and buying a new car, I'd be out about 12k? Roughly I think.

What does everyone here do? Just take care of your car but run it into the ground, and pay for maintenance as it comes?


I'm not a car guy at all. Really could not care less about having the latest and greatest. I treat it more like a tool. Just to get from point a to b. Main priority for me is reliability.

On Autotrader.ca, your car is worth $18-25k, not $12k. I misunderstood...... I think you meant you'd pay a difference of $12k out of pocket. Thats not a lot for getting a new car (which includes warranty). I dont know what kind of new car you'll get for $30-40k, but that's not a lot. I dont know if you can even get a new Camry for that.

All comes down to if you want a new car or are happy sticking with your current car.

Also, if you want a new car, car shortages can lead to long wait times of up to a year if you are really picky on model and features. So you got to factor that in. Then again, if your new car isnt too picky you can just buy what they got left on the lot.

Given what you said at the bottom, I'd say stick with it. But as soon as issues pop up, get rid of it. Youre past warranty already.

 

[Mikey Jr.]

On Autotrader.ca, your car is worth $18-25k, not $12k. I misunderstood...... I think you meant you'd pay a difference of $12k out of pocket. Thats not a lot for getting a new car (which includes warranty).

All comes down to if you want a new car or are happy sticking with your current car.

Also, if you want a new car, car shortages can lead to long wait times of up to a year if you are really picky on model and features. So you got to factor that in. Then again, if your new car isnt too picky you can just buy what they got left on the lot.

Given what you said at the bottom, I'd say stick with it. But as soon as issues pop up, get rid of it. Youre past warranty already.

Sorry, I meant reselling my car and buying a new one would probably cost me 12k.

32k minus 20k. That's just what I think.

The dealer offered to put me on a waiting list. So as soon as a brand new car came in, I would bring in my old car to trade.

 

[StreetsofBeige]

Sorry, I meant reselling my car and buying a new one would probably cost me 12k.

32k minus 20k. That's just what I think.

The dealer offered to put me on a waiting list. So as soon as a brand new car came in, I would bring in my old car to trade.

I dont know what you can get for $32k, but also look into used cars that are a few years old. It sounds like you dont care about the latest greatest. Nothing wrong with a good used car with low KM. As long as it comes with a good warranty you're good.

However, I don't know what the price differentials are between new and recent used cars. Covid shortages supposedly squeezed prices, so if it is that close, I'd say just pay a bit more and get brand new. But if the gap is big, look into used.

I know guys who make good money and only buy used. They're like "who gives a shit, I got a recent used car and saved $10,000"

 

[BadBurger]

It depends on how valuable your used car is, what interest rates are available to you given your credit rating and available cash (IF you intend to finance), and what the target purchase is. That's all.

 

[thefool]

You mean, better financially? Run it to the ground, it has tons of miles left.

 

[haxan7]

Drive the Camry for the next 5 years, minimum. 50,000 miles is nothing for a Camry like others have said.

Put the money you would have spent on the new car into an appreciating asset (a house, investments, retirement savings), not a depreciating one (a different car).

 

[AJUMP23]

I would hang onto your car. When it begins to need repairs repeatedly that is the time to sell it and buy a newer used car.

A camry can last a long time. Also if you think you want to buy another, start a car fund now

 

[The Stig]

a camry can do way more miles than that.

 

[nush]

Keep up the maintenance, run it into the ground while steadily saving for a new car. I think most car owners skip on the maintenance which shortens their lifespan.

 

[Trogdor1123]

Better how? Do you mean a return on the cost or do mean better for reliability? There a bunch of other considerations too

 

[Grildon Tundy]

So I'm not sure what the consensus on this is. I have a 2015 Toyota camry. Has about 87000km or 50k miles. (I'm Canadian).
So the car is coming up on 8 years old.

My mom says it's a better idea to sell the car now while it still has good resale value, and buy a new (or newish) car now, rather than pumping money into my old car.

But I do maintain my car. Never skip oil changes, or filters. Don't push it past what it can't do. Etc. So it has been running well. I'm assuming with reselling and buying a new car, I'd be out about 12k? Roughly I think.

What does everyone here do? Just take care of your car but run it into the ground, and pay for maintenance as it comes?


I'm not a car guy at all. Really could not care less about having the latest and greatest. I treat it more like a tool. Just to get from point a to b. Main priority for me is reliability.

I'm driving a 2012 Nissan since getting it used in 2014. Fully paid off two years ago. Right under 100K miles and I plan to drive it into the ground. New cars are so overpriced if all you really need is to get from point A to point B. Never understood paying for a new car. Status symbols aren't important to me and I don't need autopilot, heated seats, rear cams, etc.

 

[RoboFu]

camry has excellent resell value. I say sell or trade it.

 

[GloveSlap]

I'm not sure if it has come down much, but used car value was at an all time high earlier this year due to the global supply chain issues. There were cases where a used car was almost as expensive as a new car of the same model because you'd have to wait months to get the new car. I bought a new car during the pandemic and had to wait 9 months.

I sold my 2013 VW Passat to Carvana last June for $2000 more than i paid 8 years ago. Absolute madness.

 

[Mattdaddy]

I made the sexy but financially irresponsible decisions to get hair restoration surgery and buy a 4090. So I'll probably be driving my old truck until it disintegrates around me.

 

[chromhound]

If you're not interested in new technology. Just keep...
Interest rate are crazy right now...
You might make money on your car but good luck looking for a car with no dealer fees and all that crap

 

[Lasha]

Ask yourself this question after another hundred thousand miles or so of driving. Your car can easily last for 20 years with regular maintenance. Invest the money you would spend on a car payment every month and grow your wealth instead of replacing a perfectly serviceable car.

 

[Batiman]

2015 Camry? I’d hold onto it. Should be good for a while. Try and save up and be prepared for you’re next car

 

[kutthoat5150]

50k miles on a Toyota lol, you're barely breaking it in. I have 160k on my 2010 Toyota Corolla with no plans of letting it go. Just use it to get from A to B but just be careful going to C. Car and House are largest purchases you'll make and more you can restrain yourself and invest instead, especially in down market like this one, the better off you'll be long term. Delayed gratification my friend

 

[HoodWinked]

if its only being used as transportation and not to impress kind of pointless to upgrade.

 

[Cyberpunkd]

So I'm not sure what the consensus on this is. I have a 2015 Toyota camry. Has about 87000km or 50k miles. (I'm Canadian).
So the car is coming up on 8 years old.

My mom says it's a better idea to sell the car now while it still has good resale value, and buy a new (or newish) car now, rather than pumping money into my old car.

But I do maintain my car. Never skip oil changes, or filters. Don't push it past what it can't do. Etc. So it has been running well. I'm assuming with reselling and buying a new car, I'd be out about 12k? Roughly I think.

What does everyone here do? Just take care of your car but run it into the ground, and pay for maintenance as it comes?


I'm not a car guy at all. Really could not care less about having the latest and greatest. I treat it more like a tool. Just to get from point a to b. Main priority for me is reliability.

Better idea is to sell your used car, and buy used with little mileage, since cars leaving the showroom lose 20-30%. That was normally the case, now used cars are priced as new and new ones are available in 12 months with final price yet undetermined,

 

[kingwingin]

 

[crazepharmacist]

I have 150,000 miles on a 2004 Mercedes. It doesn’t even have Bluetooth. But it’s got a V-8 and rides amazing. I expect to get at least another 100,000 out of it.

 

[ahtlas7]

Psh, time to trade in when it looses that new car smell. Ya’know the toxic chemical factory oder that makes ya feel a little dizzy and high after the 15 minute test drive.

 

[Majima Everywhere System]

If you want a new car, there is something to not waiting with that camry. Still in its prime.

Go see if your dream car makes sense, but you absolutely don't need a new car.

 

[TransTrender]

There's no reason to get rid of that car based on what you're saying.
Camry's are fine.
50K miles on a 2015 Camry, if maintained, is still brand new.
If your car is maintained, not giving you problems, and isn't a rusted out safety hazard, then keep it.
You say your car is a tool, then there's no reason to get rid of this.

The best time to buy a car was like two years ago at this point. Everything since then has been a goddamn overpriced nightmare.

If you want something new or interesting then maybe consider swapping out the infotainment system and upgrading the speakers. I'm sure anything will be leagues better than what's in there.
You could also wrap the car in a new color or something.
You could also get it deeply, deeply detailed to it feels like a new car.

 

[RoadHazard]

Try running it into a ravine. Always looks cool in movies. (Get out of it first though.)

 

[M1chl]

87k is fuck all honestly, I would keep it.

Reselling car does not make much sense, since you probably not going to get any, since cars are some of the fastest value dropping things on planet.

It would only make sense if you are leasing it, then obviously after the period where you get free service because you are paying that monthly fee, you just take a new car.

 

[Golgo 13]

So I'm not sure what the consensus on this is. I have a 2015 Toyota camry. Has about 87000km or 50k miles. (I'm Canadian).
So the car is coming up on 8 years old.

My mom says it's a better idea to sell the car now while it still has good resale value, and buy a new (or newish) car now, rather than pumping money into my old car.

But I do maintain my car. Never skip oil changes, or filters. Don't push it past what it can't do. Etc. So it has been running well. I'm assuming with reselling and buying a new car, I'd be out about 12k? Roughly I think.

What does everyone here do? Just take care of your car but run it into the ground, and pay for maintenance as it comes?


I'm not a car guy at all. Really could not care less about having the latest and greatest. I treat it more like a tool. Just to get from point a to b. Main priority for me is reliability.

Few things -
You have one of the most reliable cars ever made, don’t trade it in or sell it. Your car with the proper maintenance will likely last until 200,000 miles or beyond.

Why not save the money you’d be making for a car payment, towards a savings fund for your next car? Say you wait 3 years, drive the Camry, while making a “car payment” to yourself every month (in the form of monthly deposits into a specific savings account) - you’d likely have enough for a great used car in a few years - if you so choose.

And if your car lasts another 10 years (which is likely with proper care), then you’re that much richer in the end. You could use that extra money (after you’ve saved up for your next car) for a down payment on a house, some stocks, or a retirement account.

 

[Spaceman292]

Keep.

Buy gorilla glue.

Enter one of those contest to win a new car, where you have to be the last person left touching the car.

Put the puzzle together as you will.

Instructions unclear I glued my penis to a gorilla

 

[chromhound]

Instructions unclear I glued my penis to a gorilla

 

[SpiceRacz]

Dude 50k miles isn't even breaking in that Camry yet. Toyotas will run to 300k. Even longer if you maintain them. My wife has a 2014 with 140k miles on it and it hasn't had so much as a leak or a single issue. My Toyota truck is going on 200k with minimal problems.

Do not sell your car right now and buy a new one. The price of used cars is dropping pretty steadily and you'll end up upside down on your new vehicle that you will inevitably overpay for.

 

[Kamina]

Sell old car and buy a younger used one rather than brand new

 

[0neAnd0nly]

Instructions unclear I glued my penis to a gorilla

Don’t threaten me with a good time!

 

[daveonezero]

Don’t buy new. Keep it. Pay off all debt. Save. Invest. Buy a car when you need it.

 

[lachesis]

I think I will drive my Prius Prime till it dies on me. I had it for 5 years, and not even 40k. Boring but I only fill the gas like 2 times a year, and been paid off quite some time ago.
But I am thinking about getting a 2nd car for fun. Maybe Miata.

 

[mclaren777]

You would be a fool to sell that car. Keep it for another 10 years, then you're welcome to remake this thread.

My car (BMW 330i ZHP) is from 2005 and it has 246,000km but I have no intention of ever selling it.

 

[JayK47]

My plan is to run my cars into the ground. I have no interest in buying another car anytime soon. The market is pretty awful right now.

Where I live they salt the roads in the winter. What will happen first? Get so rusty it literally falls apart or parts start to cost so much I give up? If you are not mechanically inclined and not able do most of the work yourself, it will get very costly at some point. My Toyota is 14 years old and has about 115,000 miles. Front struts just started to leak. I was surprised how cheap replacements were. The exhaust is so rusty, that is about to need replacement. Since that includes catalytic converters, that will cost a lot more to replace. The body is starting to get very rusty on the bottom in structural locations. If it gets much worse, it will just need to be scrapped.

 

[StreetsofBeige]

My plan is to run my cars into the ground. I have no interest in buying another car anytime soon. The market is pretty awful right now.

Where I live they salt the roads in the winter. What will happen first? Get so rusty it literally falls apart or parts start to cost so much I give up? If you are not mechanically inclined and not able do most of the work yourself, it will get very costly at some point. My Toyota is 14 years old and has about 115,000 miles. Front struts just started to leak. I was surprised how cheap replacements were. The exhaust is so rusty, that is about to need replacement. Since that includes catalytic converters, that will cost a lot more to replace. The body is starting to get very rusty on the bottom in structural locations. If it gets much worse, it will just need to be scrapped.

Tip for all who live in wintery places: Make sure to wash out your wheel wells. That;s why you often see rust on cars right above the tires. The wheel well was dirty as hell. Hose it out when the weather warms up.

 

[Lasha]

This short educational film also discusses your questions.