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Originally Posted by Isaac Zachary
I think to sum it up is that the way people used to own cars has changed from the way I remember it, and is further exacerbated by used car prices. My parents never owned a car that was less than 10 years old, at most. One was a 1951 Plymouth (I learned to drive in), a 1973 Impala and a 1957 Chevy pickup. This was in the late 80's through early 2000's. My dad would just rebuild the engine or transmission whenever one died. Today he drives a 1984 Toyota Pickup he rebuilt the engine in.
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How your parents owned cars has never been the normal way. Most people would never rebuild an engine or transmission. Sure there are some people with that knowledge but most people don't have it and have no interest in learning it.
My first vehicle was a 1987 S15 Jimmy that was purchased in 1993 with a blown rear main seal and rust holes through the body when I was 15. My father and I pulled the engine and rebuilt it before I ever started driving it. Even in my working class neighborhood that was odd.
Quote:
Originally Posted by Isaac Zachary
So if the Avalon were totaled tomorrow it seems my option would be: use the insurance money to put a down payment on a new Corolla and call it a day. If not: keep driving the Avalon saving up what are my payments are now, and then when it get's too expensive to maintain, sell it and put a down payment on a Corolla. Or if used car prices come back down, maybe instead put a down payment a 3 to 5 year-old Camry or even an Avalon again with either money. The question would be if the hybrid would be worth it?
Yes, I'm selling the Prius.
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The highlighted section is another reason most people don't fix high-mileage cars. The insurance replacement value is based on blue-book not what you have in a car. So you could spend $1000 to fix the A/C and $5,000 on a new engine on a Toyota Corolla with 200K miles planning to drive it another 200K miles and then get hit by a drunk and the insurance sends you a check for $3,000. (Which is what KBB says a 2005 Toyota Corolla LE with 200K miles is worth today)
Yes, a hybrid would be worth it. You would be thousands in the black on fuel savings alone by the time the hybrid battery was out of warranty.