lfhoward wrote:
I'm driving my 08 and still love it. Whatever maintenance is, even if there is occasionally something big, it is going to be way less per month on average than a new car payment. I spend probably less than $50 a month (if that) on routine maintenance, punctuated by the occasional brake job or major repair ($400-1200). Though a surprise $1200 repair if it happens once a year is painful in the moment, it is still only equivalent to $100 per month. Who can buy a new Jeep for that?
If you love your Jeep and are happy knowing that you have done all the maintenance and you know its history, and it still serves your needs, I would say stick with it. If you've always wished for a JK, then maybe that's a good goal to go after too.
Aside from the cost of what a new car would be, what would you expect to pay per year in repairs and age related maintenance in the 5-year to 10-year mark on the KK?
Yes, a new car payment would be more, but if you consider buying a new car outright (no monthly payments) as an investment and depreciation as the "cost-to-own" (not including gas & insurance here), the wrangler isn't terribly more expensive to get into. Based on what I got my liberty for and what a new wrangler would run me, there's two scenarios:
5 years liberty / 5 years wrangler:
-$11.5k depreciation for 5 years owning liberty
-($38500 new wrangler - $25500 worth of 5 year old wrangler) = $13000
= net loss of $24500 over 10 year period (2011 - 2021)
10 years liberty
- ($21500 new liberty - $2.5k 10 year old liberty) = $19000
= net loss of $19000 over 10 year period (2011 - 2021)
Looking at it this way, is $5.5k MORE spread out over the next 5 years worth being in a new wrangler? If expected repair costs, maintenance, and worth of being inconvenienced nears that $5.5k mark over the next 5 years, then there's no reason to not trade up. Note, this is assuming buying the new vehicle in full is an option.