Forever Car or Buy Something New?

Curious for your opinion.

Bought my 05 Limited Wagon, 5mt, RBP, from a forum member about four years ago. I love the car and haven't had any major issues with it since I got it. Been really good about preventative maintenance (replaced up-pipe, removed banjo bolts, regular rotella oil changes). I've had it since 75k miles, now at 110k.

That said, I'm constantly terrified of the engine blowing up and having a YNASB situation on my hands. I'm not sure if I should just buckle down for the long haul and be prepared for the $7k bill or sell the car and move on to something new(er).

Only thing I'd really consider replacing it with is a 2014+ Forester XT.

What do you guys think?

You could get probably get to 250K miles with good maintenance and a turbo rebuild at some point. There is nothing else out there quite like the Legacy GT Wagon 5MT. True, they are starting to get old now, but it's still a nice-looking car to my eye.

The risk of a serious repair cost is there, on the other hand you are guaranteed to lose money on depreciation and higher insurance cost if you buy a new car.

I think it makes sense to hold on to it if you can do most of the mechanical work yourself. Otherwise, you might think about buying 2-year old used cars and selling them on after owning them 3 years or so. Rinse and repeat. The only way a new car makes financial sense is you can't get the car you want any other way and you intend to drive it long-term.

New is always better.

Lease a new Forester XT with all the bells and whistles. Eyesight is amazing.

In three years once you are done with it replace it.

I actually return all my leases at around the 2 year mark. I have usually gone past the miles and my dealership just buys it and I get into another lease with just a few bucks difference in payment. I saw the Forester XT on the lot. Nice car.

New is always better.

 

Lease a new Forester XT with all the bells and whistles. Eyesight is amazing.

 

In three years once you are done with it replace it.

 

I actually return all my leases at around the 2 year mark. I have usually gone past the miles and my dealership just buys it and I get into another lease with just a few bucks difference in payment. I saw the Forester XT on the lot. Nice car.

Looks like you can't get a XT with eyesight ?

http://www.subaru.com/build-your-own/2017/FOR.html

I understand how you feel about your 05 wagon...believe me. My wagon is our 3rd car in the driveway, I just happen to use it as my DD.

I will tell you to have your turbo rebuilt now or replace it with a vf52 and get a proper tune. see my sig.

We also have a 2016 Outback 3.5R with eyesight. I would not buy another new car without it, its that good. I believed it saved us a few weeks back.

Looks like you can't get a XT with eyesight ?

http://www.subaru.com/build-your-own/2017/FOR.html

I could have sworn I saw a XT with eyesight. Must have been the touring one. However it will come and all Subarus will have eyesight. New is still better.

Looks like you can't get a XT with eyesight ?

http://www.subaru.com/build-your-own/2017/FOR.html

It's not available on the base 2.5i or XT Premium, optional on all other trims. Makes sense not to offer it on the base model, but not on the XT Premium. Guess Subaru wants you to spend a little more for the XT Touring.

Pretty sure my LGT is going to be a forever car.

There just aren't too many options that I like that will offer me the same things this car does (comfortable sedan, AWD, good power, manual transmission, and not a BMW or VW product).

There are things about it that annoy me, but I'd rather just fix it.

New STi's are pretty nice, but they look too in your face.

Thanks y'all, interesting variety of opinions. I'm leaning towards forever car. I know that even if I had to rebuild, it would still be cheaper than buying a new or slightly used car, but the thought of an engine rebuild on a car that's worth this little is hard to stomach.

Though I'd love a V60 polestar, that is one awesome wagon!

When I was younger I drove very old cars (23 and 30 years old) for several years and saved arguably saved enough to buy a house. I continued, but with much newer used cars. As far as brand new cars, and especially leases, think great gobs of cash out the window. Of course if you're rich then the above doesn't apply. How can you determine if you are rich? You can pay cash for a brand new car? Well, then yes you are. Will it take you four or more years to pay for a car? Guess what? You can't afford it.

And I agree with Sandwich Man that it's not just the mechanicals that will sign the death certificate of a vehicle, if the amount of other cumulative repairs becomes difficult to stomach, like you say, then it is time. I note he's in the sunbelt so likely doesn't have to worry about rust and corrosion issues like northerners.

Here we have the mosmcoveted used car market because we don't have rust issues, however we drive a lot! I put almost 50k miles on my car over a two and a half year period, and thatbisnsplitting the driving between two cars.

I find leasing appealing here in Florida only because I keep the car for a little over two years and they buy it back nonquestikns asked. Subarus here include two years of oil changes and the only thing I worry about when I drive is to make sure I have gas.

I also enjoy the smell of a new car plus all the added safety features. I know this plan is not for everyone, but it works for me. It also helps that is is a business deduction for me.

With that said even with the high mileage used cars here are a great buy, but I could never be attached to a car to make it a lifetime investment. I used to live up in NY and I know cars are seen different up there. Here they are only appliances, even the really expensive ones.

When I was younger I drove very old cars (23 and 30 years old) for several years and saved arguably saved enough to buy a house. I continued, but with much newer used cars. As far as brand new cars, and especially leases, think great gobs of cash out the window. Of course if you're rich then the above doesn't apply. How can you determine if you are rich? You can pay cash for a brand new car? Well, then yes you are. Will it take you four or more years to pay for a car? Guess what? You can't afford it.

Lease versus buy is a topic which often comes up in the BMW forum I frequent.

The argument for buying goes something along the lines of you do not have a vehicle payment once the vehicle is paid off. Which is true. However the counter is the vehicle payment turns into a maintenance / repair "payment". The maintenance / repair could negate any savings of not having a vehicle payment. IMO whether there is a break even point depends on the vehicle. Vehicles that require more maintenance / repairs and cost more to do those things may very well negate the benefit of not having a vehicle payment. For example my Outback XT is heading to the mechanic today for a compression test and, if that's OK, its 150K mile scheduled service.

The argument for leasing goes something along the lines of you always have a late model vehicle, no repair costs, no maintenance costs (in the case of BMW), and no worries about diminished value in the event the vehicle suffers serious damage which does not total it. The con is you will always have a vehicle payment and the vehicle is not really yours so you cannot perform many modifications to customize it.

IMO it all comes down to preference. I've never leased...always believed in the buy and hold strategy. However I've reviewed my purchasing habits and determined leasing might make more sense...for me. The good thing is we have the option to buy or lease...and, IMO, choice is always a good thing.

We bought our 2016 Outback 3.6R Dec 2016, thinking about it now, we should have leased it. It only has 8800 miles on it. The first 1000 miles were in the first two weeks. We owe less then $12,000 on it. It's not like it's something special that I would like to keep forever.

She drives it to work, 2.5 miles and shopping sometimes. It does get highway miles once a week or two, but obviously nothing compared to my 05 Wagon.

We'll take it on vacation later this summer (Montreal), but hind sight...may be we would have been better off leasing it.

She like's the car and said it will be her last new car... We'll retire in about 5 years... It will be paid off early next year if not sooner.

Don't forget that is not only about the engine only but the whole car. It all gets old.

I am in a similar position to the OP and the point above is what is getting me. Our '05 Legacy with 105k is by far the car kept the longest and with the most mileage in my family. If it was just the drivetrain that had to be maintained, that is one thing. But on the horizon for me currently: cracked fuel pump housing, HVAC stepper motor, hatch wiring harness. And more plastic and rubber things will continue to go.

I don't do much DIY work and the (excellent) Subaru specialist I use is an hour away. The only reason the Legacy has yet to be replaced is that I haven't found anything to replace it with that checks all the same boxes and its ended up being our 3rd car so it doesn't get many miles put on nor is it required to be a daily. But I think I'll get to a point in the next 1-2 years ending up moving on to something else.

I am in a similar position to the OP and the point above is what is getting me. Our '05 Legacy with 105k is by far the car kept the longest and with the most mileage in my family. If it was just the drivetrain that had to be maintained, that is one thing. But on the horizon for me currently: cracked fuel pump housing, HVAC stepper motor, hatch wiring harness. And more plastic and rubber things will continue to go.

 

I don't do much DIY work and the (excellent) Subaru specialist I use is an hour away. The only reason the Legacy has yet to be replaced is that I haven't found anything to replace it with that checks all the same boxes and its ended up being our 3rd car so it doesn't get many miles put on nor is it required to be a daily. But I think I'll get to a point in the next 1-2 years ending up moving on to something else.

You only have 105,000 miles, what are you worried about...has the timing belt been replaced and the banjo filter removed ?

Is AZPinstalls, that far away from you ? https://www.google.com/maps/place/AZP+Installs/@40.678655,-74.377183,11.45z/data=!4m5!3m4!1s0x89c3b271c91d51c1:0x5237794d5b54d149!8m2!3d40.669323!4d-74.280143

AZP was my shop when I lived in NJ. Now that I'm in VA, I've switched to AndrewTech.

I have no issues addressing expected major mechanical things based on miles even if not all are needed as soon on other cars. I've already done: TB/WP, LCA bushings, CV boots, UP/DP, oil lines, banjo filter, suspension, clutch. I expect to have to do the turbo, PS pump/rack, and head gaskets at some point.

Sure I only have 105k miles, but its 12 years old. The general rust issues (car lived through 10 NJ/PA winters) and plastic/rubber bits wearing out has less to do with mileage than just age. Over the next 1-2 years I expect these things to get worse. I'm just not the personality type to deal with the care and feeding of an old car.

Probably will need to hand off to someone who wants this as a forever car at some point.

You only have 105,000 miles, what are you worried about...has the timing belt been replaced and the banjo filter removed ?

 

Is AZPinstalls, that far away from you ? https://www.google.com/maps/place/AZP+Installs/@40.678655,-74.377183,11.45z/data=!4m5!3m4!1s0x89c3b271c91d51c1:0x5237794d5b54d149!8m2!3d40.669323!4d-74.280143

Just saying, you know these 5mt wagons were only made for one year here in the states.

Mine is still my DD and a blast to drive.