My current car is coming up on 12 years old. It is a Japanese compact sedan. I bought it new. It has about 101k miles and has had no issues. Regular maintenance (tires, oil, filters, etc) and gas and $50/mo insurance is all I spend on it. It is currently worth somewhere between 7000 (sell to dealer) and 11,000 (private party).
The problems I have with the car are the same ones I've always had with it (too much engine and road noise), as well as it is missing a couple features I would like that have since become fairly common: adaptive cruise control (primarily) and auto-braking are the big ones. Of course any new car will have a bevy of other nice-to-have features such as wireless charging and automatic trunk and voice commands etc etc. Having a pleasantly quiet and serene ride with ACC just sounds absolutely sublime to me at this stage in my life.
I'm shopping Toyota and Honda products because I'd like to keep this new car for 12-15 years. I don't "need" a new car in any strict sense because my current car works perfectly fine. However, the options for what I like dwindle with each passing year. I don't like turbo engines so much; turbo lag and long-term reliability, although getting better recently, are still concerns of mine. I also have not enjoyed any hybrid driving experience I've had, as they sound strange, usually feel underpowered, and I'd have concerns about the battery's long-term life, as well as replacement/repair cost. Fully electric cars, while enticing, also feel limiting to me how they currently are. So what that means is I'm searching for naturally-aspirated engines, preferably a V6. I don't like trucks/SUVs. If anyone knows the current car market, you know the exact two models I'm shopping (Camry and ES350).
Both are slated to lose their NA powertrains soon, so that is what is compelling me to replace now rather than try to wring another few years out of my current car. The problem, though, is the prospective purchase (somewhere between $40-60k OTD depending on model and options) is really making me feel uneasy as it runs afoul of my typical thriftiness: my annual spending the last three years has been $36k, $38k, and $42k. This purchase aside, I'm on pace for $40k this year.
I'm mid-40's, $1.95MM net worth, $1.75MM cash/investments, $170k-ish income. I am FI based on my current spending and don't want to lose that status. As well, I am strongly considering calling it a career later this year.
So on to specific questions:
1) Are my concerns with turbo and/or hybrid engines overblown?
2) Has anyone successfully overcome thrifty habits in order to treat themselves? Or, has anyone done so and really regretted it?
3) I know from a financial perspective I can "afford" it, but I also might want to retire quite soon. Is this an "easy buy" that I'm fretting unnecessarily over, or should I really more strongly consider either holding onto my current car or buying something cheaper?
4) Any other thoughts or considerations about the situation?
I don't have anyone close enough to really share details about finances and financial concerns, so using this board for feedback and a sanity check is quite valuable to me. Thanks in advance for any thoughts/ideas!
The problems I have with the car are the same ones I've always had with it (too much engine and road noise), as well as it is missing a couple features I would like that have since become fairly common: adaptive cruise control (primarily) and auto-braking are the big ones. Of course any new car will have a bevy of other nice-to-have features such as wireless charging and automatic trunk and voice commands etc etc. Having a pleasantly quiet and serene ride with ACC just sounds absolutely sublime to me at this stage in my life.
I'm shopping Toyota and Honda products because I'd like to keep this new car for 12-15 years. I don't "need" a new car in any strict sense because my current car works perfectly fine. However, the options for what I like dwindle with each passing year. I don't like turbo engines so much; turbo lag and long-term reliability, although getting better recently, are still concerns of mine. I also have not enjoyed any hybrid driving experience I've had, as they sound strange, usually feel underpowered, and I'd have concerns about the battery's long-term life, as well as replacement/repair cost. Fully electric cars, while enticing, also feel limiting to me how they currently are. So what that means is I'm searching for naturally-aspirated engines, preferably a V6. I don't like trucks/SUVs. If anyone knows the current car market, you know the exact two models I'm shopping (Camry and ES350).
Both are slated to lose their NA powertrains soon, so that is what is compelling me to replace now rather than try to wring another few years out of my current car. The problem, though, is the prospective purchase (somewhere between $40-60k OTD depending on model and options) is really making me feel uneasy as it runs afoul of my typical thriftiness: my annual spending the last three years has been $36k, $38k, and $42k. This purchase aside, I'm on pace for $40k this year.
I'm mid-40's, $1.95MM net worth, $1.75MM cash/investments, $170k-ish income. I am FI based on my current spending and don't want to lose that status. As well, I am strongly considering calling it a career later this year.
So on to specific questions:
1) Are my concerns with turbo and/or hybrid engines overblown?
2) Has anyone successfully overcome thrifty habits in order to treat themselves? Or, has anyone done so and really regretted it?
3) I know from a financial perspective I can "afford" it, but I also might want to retire quite soon. Is this an "easy buy" that I'm fretting unnecessarily over, or should I really more strongly consider either holding onto my current car or buying something cheaper?
4) Any other thoughts or considerations about the situation?
I don't have anyone close enough to really share details about finances and financial concerns, so using this board for feedback and a sanity check is quite valuable to me. Thanks in advance for any thoughts/ideas!
Statistics: Posted by rocket354 — Mon Apr 15, 2024 2:21 pm — Replies 11 — Views 397
