Older luxury cars: money pits?

[Pollock]

My situation: I'm leaving for college in September, where I can't have a car my freshman year, and my parents are giving my '02 Accord to my recently married brother.

My parents will get something to replace it; I'd really like to spend under $5000-6000, even though my parents would be willing to spend way more (and they already have, but I just felt too guilty driving something expensive at 18).

The obvious answer would be a beater Civic, but I just find that really lame. What with the inflated prices of used compacts and Hondas in general, I don't see why cars like the 318, 325, and Legend, etc. aren't worth considering at that pricepoint. Is maintenance that atrocious? I mean, I have some experience with working on cars, I'll be gaining more all the time, and I'll have all kinds of tools/experience available on-campus. I think it could be worth it to get something I like more.

There isn't any rush, I guess - just looking for extra ideas and input while I browse Craigslist.

 

[sniperruff]

the legend is bullet-proof, but considering the newest one would be manufactured in 1994, you're basically looking at a 14-year-old car at best.

so yeah, they made the car when you were 4. kind of neat just to think about that.

 

[Black88GTA]

Short answer - it depends.

If you get a neglected / abused one, then it will probably bury you. If you get one that has been maintained properly and kept up on, then you will probably be fine (barring some major catastrophic failure of a big part).

The problem is that when things DO go bad, they often cost large $$$ to repair, which gives the cars a bad rap. Especially big things (transmission, engine, etc). For example, a basic rebuilt engine for my Trans Am is $1200 - $1300ish for a longblock. The same for my BMW is north of $8k.

Parts can be hard to source as well - you can't just run into Autozone and buy stuff for these cars in most cases. Many things will have to be purchased from the dealer if needed immediately ($$rape) or scrounged off the internet and other sources if you've got some time...but, this means your car is down while you are awaiting parts.

If you are resourceful, you should be able to find used parts at relatively good prices - from part-outs on forums, ebay, etc. This is easier to do if you get a more common car, like a 3 series...the rarer birds are obviously tougher to track down used parts for, and it may take longer (although it is usually not impossible to find them). You should set aside an emergency parts fund of at least $1500 or so for when things pop up unexpectedly.

So, it kind of depends on you / your situation. If you don't need to depend 100% on the car (some downtime is OK), and you can do a lot of your own wrenching, I would see no reason to be afraid of an older BMW or Audi, etc. A lot of people will say that the maintenance / upkeep will kill you regardless, but that has not been my experience at all.

Of course, the standard rules apply too...look for the newest model / lowest mileage that you can find in your price range, and try to find a car with maintenance records. Have a mechanic go over anything you are seriously considering buying (unless you can do this yourself). Beware of any "smoking hot" deals, because...they usually aren't.

Good luck whatever you decide.

 

[Pollock]

I wouldn't have to depend on it a majority of the time. Also worth mentioning, we have a '94 Jeep Cherokee that is getting towards the end of its life, but has also been pretty solid through all the years we've had it. Thing is, I don't exactly enjoy driving it (plus it gets bad mileage).

FWIW, I've thought about getting a motorcycle (something like an old Nighthawk or whatnot), but I can't decide how practical it'd be..

 

[sniperruff]

older jeep's have character and are cool cars. i'd take it.

 

[Zenmervolt]

Originally posted by: Pollock
I wouldn't have to depend on it a majority of the time. Also worth mentioning, we have a '94 Jeep Cherokee that is getting towards the end of its life, but has also been pretty solid through all the years we've had it. Thing is, I don't exactly enjoy driving it (plus it gets bad mileage).

FWIW, I've thought about getting a motorcycle (something like an old Nighthawk or whatnot), but I can't decide how practical it'd be..

Full leathers on a motorcycle in an Ohio August is not as much fun as it looks at the beginning. And forget about it in the winter. You really don't want the bike in the snow.

The Legends were by Honda, they'll be reliable if they've been treated well. Basically, 88GTA said everything that needs to be said.

ZV

 

[T2urtle]

none of those cars scream out money pit exactly, the BMW a possible but honestly. ES300 are v6 camry's and while the cars might be able to run 200-300k the body takes a huge toll. finding small parts like headlights and tails lights will be VERY pricey. When i was going to pick up a 96 ES300, it has a cracked tail and headlight. tail was going for $150 or so and headlight was 250$. I'm used to $50 a peice for older cars if not less.

just to throw a couple of more cars out there. since your looking for 4-5k luxury cars, those car you listed were more or less entry level. look into Infiniti Q45, LEXUS LS400. They are big v8 engines but often times you have people who really take care of the cars, get them really clean and etc.

 

[Pollock]

It doesn't have to be a luxury car, I was just curious, or looking for recommendations as to what I could/should do.

I thought about getting an old car ('65-'66 Mustang or Chevelle, probably) to restore/work on, but I figured it just wouldn't be worth at this point in life. I'd rather have something I can beat on and drive in winter.

 

[aleckz]

Why not a miata or something fun? Parent's are paying for insurance and I'm sure you can find something like that in your price range. Plus after your freshman year you can bring it and half-impress girls with your girly 2 door.

 

[T2urtle]

i'm with you on the older car, its a great idea and all that but not now.

well 5-6k is giving you plenty of options and the fact that you dont mind to fix it a little bit helps a lot. you open to most tuner cars out there if your want to run that route, the luxury route is there as well.

Me personally me being the simliar age as you but in diffrent situation i would consider getting maybe a BMW e36 or a LS400. LS400 for a car that you just want to drive maybe be a little bling at school, gas miles might not be there but all the LS4's ive driven are still smooth and silky with 150k miles on them. I would consider getting a E36 if i wanted to more of the tinkering side. possibly lower the car, maybe put some M3 leather stuff inside and just keep them clean. Everyone on campus your 2nd year would have newer civic's or older ones and just plain old beaters cars. you will be unique with it.

 

[evident]

the 318 has half decent gas mileage

 

[poopygood]

my vote is for the 96-98 Acura TL. can be found between $5-$8K (60-120K miles) change the timing belt/wp at 90K, and like other hondas, it will run forever. much nicer interior than the accord/camry/es300 as well.

 

[Black88GTA]

Originally posted by: poopygood
my vote is for the 96-98 Acura TL. can be found between $5-$8K (60-120K miles) change the timing belt/wp at 90K, and like other hondas, it will run forever. much nicer interior than the accord/camry/es300 as well.

Aren't those the ones with the bad automatic transmissions? Or is that the gen after those? I can't remember exactly...

 

[poopygood]

nah, that's the 2nd gen. 99-03.
1st gens are rock solid. I have 2.

 

[Skunkwourk]

I have a 2001 ES300. I had the timing belt and water pump one at 90K. It was a couple grand. Shortly after I needed some suspension work done, another grand. I love the car, but as a student I wouldn't say its a good investment.

 

[Pollock]

Originally posted by: Black88GTA

Originally posted by: poopygood
my vote is for the 96-98 Acura TL. can be found between $5-$8K (60-120K miles) change the timing belt/wp at 90K, and like other hondas, it will run forever. much nicer interior than the accord/camry/es300 as well.

Aren't those the ones with the bad automatic transmissions? Or is that the gen after those? I can't remember exactly...

Preferably manual.

 

[DomS]

Originally posted by: poopygood
my vote is for the 96-98 Acura TL. can be found between $5-$8K (60-120K miles) change the timing belt/wp at 90K, and like other hondas, it will run forever. much nicer interior than the accord/camry/es300 as well.

I love those cars

 

[halik]

Originally posted by: DomS

Originally posted by: poopygood
my vote is for the 96-98 Acura TL. can be found between $5-$8K (60-120K miles) change the timing belt/wp at 90K, and like other hondas, it will run forever. much nicer interior than the accord/camry/es300 as well.

I love those cars

That car looks VERY dated, even for that price.