At what point would you stop repairing and sell?

We have a 2004 Ford Freestar Limited. The van is a piece of junk and we have spent over $5k in repairs THIS year!! It's fine for car seats, loaded with safety features, has a flat ford third row, leather, etc. but it's costing us an arm and a leg and all the safety features in the world are useless when it's dead by the side of the road, AGAIN. According to our repair guy (whose been doing DH's family's cars for 20 years) the things that tend to break on the Freestar are the transmission (we're on our second replacement), the A/C compressor (did that in April) and the computer (not broken yet). We've done many other things, like fuel hoses, stabilizing rods, a control arm, the radiator and the second new tranny (under warrenty from the repair in July) is the repair du jour.

The question is, when do we cut our losses and run like the wind? We still owe about $5k, what we could have put down on a new van has been spent on repair this one. I don't think we could swing more than about $10k on a new van. Which means trading one van with 100K for another with what, 100K if we get a Honda or Toyota?

We've got about 18 months still to pay it off, we owe $5k which is the Blue Book Trade in for "Clean" condition, I'm not sure we could get that, on trade in, and ordinarily we would sell it private party but I feel AWFUL selling the stupid thing to someone. It's such a heap!!

I'm voting for keeping it and saving towards a down payment on a nicer, newer van (Toyota or Honda). DH is voting for trading it in, taking our loss and buying another cheaper used van (Kia most likely). The other note in this is that DH drives an 2003 Vibe with 125K miles that will need replacing eventually, we planned on replacing his next, but the van is clearly the more unreliable one.

Thoughts??

Where are you at exactly?

Is it currently dead? If so, I'd find the cheapest way to get it moving, then trade it in.

If you just fixed it, I'd run it a little longer to save a bit more. However, at the first sign of another repair, trade it in.

In any case, you kinda look at your options but cutting your losses is the goal.

I voted other, cause we are in a similar situation with our '03 Windstar. We are starting to put more and more money into it, and its still not working properly....
I'm just going to watch this thread for what everyone else thinks

codex57 said:

Where are you at exactly?

Is it currently dead? If so, I'd find the cheapest way to get it moving, then trade it in.

If you just fixed it, I'd run it a little longer to save a bit more. However, at the first sign of another repair, trade it in.

In any case, you kinda look at your options but cutting your losses is the goal.

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It's in the shop getting a new radiator and another transmission. The tranny is covered under warranty, as it was just replaced this summer. This repair is about $450.

Hi Carrie! :happy-wavehello:

I would try to sell it locally on Auto Trader or something similar, but be up front about the issues. It can't hurt to try! DH listed his totalled 1998 Mustang on Auto Trader last summer, and had TONS of replies and sold it for $900 cash, even knowing all the problems! We were shocked. We had people bidding on it basically. My friend sold her 1999 Subaru that had several issues privately as well, but she was honest about the issues and still made more than she expected, just like us. You never know what people will buy... perhaps the buyer is a mechanic and can cheaply perform all the necessary work.

If that doesn't work out, cut your losses and get something else. Sounds like it's nothing but a nightmare. Good luck!

The point where I get rid of cars is when they are no longer reliable. I can deal with the cosmetic irritants, but it drives me crazy to have a car that I'm worried about stranding me. Both of our cars recently came to this point. DH's Nissan had 145k miles and my pos older Kia van only had 50k miles. I know it stinks to throw $ after $, but I look at it that a $1000 repair is only a couple months payment on a new vehicle....but that's assuming the car isn't going to leave you stranded on the side of the road.

With having $10,000 to spend...I think I'd get a newer Sedona (06+). They don't hold their resale value so you should be able to get newer and lower miles compared to a Honda or Toyota. I'd try to get the most out of your current vehicle and pay the least for your new one. I think you can sell the Freestar privately with a good conscience as long as all the current issues are fixed. The new buyer is purchasing a car with 100k miles. They are able to look up known issues for that vehicle. I think it's expected that when you buy a vehicle that age and miles that it's not going to last forever without needing work. Then try to find a good private party van. An original owner would be ideal. Have it looked over by your mechanic. You'll pay less than at a dealer and (in most states) you won't have to pay sales tax. If you do buy through a dealer, I highly highly recommend purchasing through the internet dept. Edmunds.com has great info on this. And still have your own mechanic look it over.

fyi: You may already know this...but Kia's 100k mile/10 year warranty is only for the first owner. Subsequent owners get something like 5 years 50k bumper to bumper.

I guess the way I look at it is, if the repairs are costing you more than what the car is worth on trade-value then its time to get rid of it. Keep in mind also that KBB is just a guide, it can be quite different from what a car is going for on the actual wholesale and/or retail market. I would throw an ad of craigslist and see if you get any takers - you might be suprised.

As a general rule it depends whats getting repaired. Steering components, radiators, hoses, belts, u-joints :blah blah blah: are what I consider consumables, and are just a fact of driving older vehicles. Main powertrain components are another story altogether. If it's not a common problem, engines, tranny's and rear ends are available for cheap at the auto wrecker, and shouldn't give much problem once replaced. However, in your case it is a common problem, so replacements are hard to come by. On warranty it's not a huge concern, however once it's off warranty dump it at the first sign of a tranny problem.

For the record my bee truck has a transmission with a bad reputation, and is long off warranty (93 dodge cummins), however due to the excellent condition of the truck and the cost of an equivalent replacement (long frame 1 tons are near impossible to find in good condition here), and the transmission will be replaced when it gives problems.

IMO, if you're spending more in repairs (averaged out over a year or so) than you would in payments on a replacement vehicle, it's time to replace. Reliability is also a factor.

Avery'sMama said:

We have a 2004 Ford Freestar Limited. The van is a piece of junk and we have spent over $5k in repairs THIS year!

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Shanora said:

I voted other, cause we are in a similar situation with our '03 Windstar. We are starting to put more and more money into it, and its still not working properly....
I'm just going to watch this thread for what everyone else thinks

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We have a 2004 Freestar and a 2003 Windstar...guess we are screwed! We have had the Freestar since 2/08 and the Windstar since 2/10. So far no major issues with either, but I must admit I am scared! We do have the Freestar in right now and it'll be at least $500 just so it can pass the smog check.

Do either of you, or anyone else with either van have any strange electrical issues? In ours the lights will flash sometimes and one power sliding door on the Windstar sometimes won't open...other stuff like that too, but none I can think of at the moment.

I would say as far as what I would do in your shoes, codex hit the nail on the head.