Hey everyone! New to this site/ chat.

I have a 2013 G37X with 106K on it. I live in Central New Jersey (drive in snow and near beach) and owe about $7,500 and its worth about that much.
I'm due for plugs and tires which will probably cost me a total of $1k or so.
I keep it maintained and didn't have any plans to sell anytime soon until I did the math. If I owe $7.5k, need to put in $1k, and if I drive it for a while it will also loose value of say $3-4k.

1) Do you think its really worth it to pay the loan, spend a grand, and devalue it another couple grand? The only problem is that if I sell it...it's just enough to pay the loan so I'll be starting at zero for another vehicle.

2) Also, what is the maintenance cost on it moving forward as I push 125k miles...150k...175k? What's every ones experience, especially in the the area? The last thing I need is a cat or exhaust replacement or anything else that will cost a decent chunk. Plus I travel for work a bunch and I'd hate for say, a starter to go in NYC.

3) I live on the east coast where it snows and sometimes I'm at the beach in the summer near salt water. Only a few days at a time. Thoughts on everything?

 

Bought my car at 104k miles and I'm at 166k right now. Only thing I've had to replace was one rear seized caliper. There were some things I replaced for creaks (lower control arms) but I probably could have rode on them a long while. I also took the car in for my 130K maintenance.

I'd keep it personally, especially because starting at 0 is usually not a good place to start when shopping for cars.

 

If it still runs and looks good I’d say keep it. It’s really not going to depreciate much more. If you were to buy a new car it would deprecate much more in the first year. I’m a buy and drive for at least 10 years guy.

 

For people who keep their cars forever, and modify them, leasing is simply bad financial advice. But for someone who has the regular income and the lifestyle, or might suffer anxiety about car transactions and car repairs, leasing can actually be a good fit. Reading your post, I suspect you could fall in that latter category.

Good luck.

 

This is good stuff everyone...thanks for the quick responses too! I'll probably end up keeping it if we think it's not going to go down in value that much more. I'd have to image 4 years from now with an extra 60-80k miles on it it...it wont be worth much. Maybe $3-4k?

I also drive a lot of miles (about 20k/ yr.) and the gas inst that good on this. However, if I bought another car for $15-20k Id have to imagine the sales tax (7%) on the car alone would be around $1,400. It would take a lot of driving to get that money back. You agree?

Thanks again

 

A couple of years ago I had almost 95k miles on my 2012 G37S 6 speed manual when I received a coupon in the mail for a free oil change at Circle Infiniti in West Long Branch.
While waiting for my vehicle I wandered into the showroom where there was a slightly used 2016 Q70 with 3400 miles.
I regretted giving up my manual shift but I ended up purchasing the Q70 which had more bells and whistles than my 2012 G37S and I'm happy.
Putting lots of money into an older vehicle that is depreciating makes no sense to me.
December is an excellent time to visit a dealer just to see what they can do for you. Getting a newer vehicle with the latest safety features would make sense for someone driving over 20k miles/year especially the blind spot warning features.
The wife bought a 2019 Mercedes E450 wagon earlier this year and the insurance on that vehicle is cheaper than the insurance on my 2016 Q70 FWIW

 

thanks so much, this was very helpful. A lot of what you said made sense and I appreciate the logic behind everything.