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Discussion Starter · #1 ·
I sincerely need some advice here. So I find myself now in retirement for 6 years and living on a very minimal fixed budget.

In 2008 I was thrilled to buy a very well maintained used 2002 Honda CR-V for only $4,000 that at the time had only 102,000 miles on it.
It Ran perfectly and looked brand new. And in fact still looks beautiful inside and outside.
And I've now added 20,000 miles over the last 4 years to it with now 122,000 miles as of today Jan 2021.
Expenses in last 4 years about $1,500.
New tires $359, oil leak $800, serpentine belt, $200, and a few other minor things battery, etc. So a total of about $1,500 total cost for 4 years of Reliable service.

However... It's now 2021 and It needs several new repairs.
1. Yet another oil leak just discovered. $200-$300?
2. Front end alignment. $80
3. AC compressor making noise for 2 years, so I don't use much but still works, Likely $1,000 repair?
4. Has a minor vibration for last couple years if I accelerate hard. Maybe motor mount? $200 ?

So I may be facing about $1,500 in needed repairs soon On a car that's now almost 20 years old with 122K miles on it, yet otherwise runs great and still looks great. And I want to keep it but want to be realistic in the odds of owning a 20-year-old car.

So my question to the group is. Should I give up this great CRV for a newer SUV?
Again I'm retired and on a minimal fixed income so spending $15,000 on a newer used SUV is not something I feel financially comfortable doing. But my CR-V as-is I'm sure I could sell it for about $4,000 and put that towards a newer used car.
But it still runs and I still like it.

So what's the groups opinion on me just putting say $2,000 in repairs to my Honda CR-V that I'm still Honestly in love with and keep it vs spending my retirement funds on?

Do you guys think my precious 2002 Honda CR-V will last me another 2 or 3 more years after the needed repairs or is it a bad idea to keep it.

Truly grateful for all your opinions.
Phil
 

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The 2002-2006 CRV is one of the most reliable cars ever made. And much more reliable than 2007 forward. People drive them for 400,000 miles and more. If you like the car then get it fixed and keep driving. Sometimes you pay $1500 in one year but I wouldn't expect that often. And it beats shelling out more for some car you don't know the history on, or a car with a monthly payment.
 

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Here's my take on this and it's my take. I grew up with immigrant parents and that's my money lens growing up.

Expenses in last 4 years about $1,500.
New tires $359, oil leak $800, serpentine belt, $200, and a few other minor things battery, etc. So a total of about $1,500 total cost for 4 years of Reliable service.
You spent $1,500 on maintenance in 4 years on a car you paid $4,000 for. Understandably that's 37% percent of the purchase however, I want to point out that new tires serpentine belt, and a new batteries is normal maintenance and would be incurred no matter how new your car is. In other words it's a sunk cost. So you're really looking only at $800 or so in money spent in repairs to upkeep an older car, which is essentially $200 or dollars a year($800/4 years). This is substantially cheaper than car payments. So congrats on making it this far, you're way ahead of the curve at this point.

Now you have other repairs totaling $1,500 to $2,000 based on the following items you listed. I think it's definitely reasonable to spend the money on the repairs because the engine only has a 122k on it and you've only spent $800 or so in real repairs while the other costs are sunk costs.

Lastly if you're not comfortable sinking $15k in a new car, definitely keep the older car and put some money in it.
 

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2004 standard Honda CR-V (Red) EX
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So far I've put in 3,400 dollars in my 2004 to keep it road ready. Worth every penny IMO.
I'm sure you'rs is no different, keep it! Keep enjoying it.
 

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and learn to do as much work on it as you can. who wants to pay out $80-$120/hr labor, esp. on an old car.
 

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Hey Phil,

I have a 2002 CRV EX. I bought mine in 2012 (212,00km) with the intention of keeping for three years as I was on a very low income. I still have it at 405,000km nine years later.

On average, I have had to spend anythng between $300 - $700 per year on fixing. Things around the engine and body have died and thats just down to age. Engine wise its stupidly reliable. But I do a lot of preventative maintenance eg frequent oil changes and rear brake service.
To give a example, on one occasion it would not start. Battery was fine, it came down to the fact that the battery connectors had just disintegrated as it was so old. Door lock is completely gone, engine light is on (three codes), electrics go wonky at -20c. But it starts and drives.
You have not spent that much on the vehicle in repairs if im honest. The stuff you have replaced is wear and tear items.
As others have said, try and do much of the work on your own if you can. Or find a mechanic that just works on Hondas/Japanese. Mine has saved me a ton of money on repairs as they know the vehicle inside out.

Knowing what I know now about my vehicle. It is definitely worth keeping if you are on a tight budget as its pretty much the most reliable SUV for its age bracket.
 

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Discussion Starter · #9 ·
The 2002-2006 CRV is one of the most reliable cars ever made. And much more reliable than 2007 forward. People drive them for 400,000 miles and more. If you like the car then get it fixed and keep driving. Sometimes you pay $1500 in one year but I wouldn't expect that often. And it beats shelling out more for some car you don't know the history on, or a car with a monthly payment.
Yes thank you so much. I've reviewed a couple youtube videos on the best still running 15yrs or older cars and the 02 Honda CR-V gets 2nd place just behind the Subaru.
So yes I'm gonna keep my baby, I still love with it and it's looks as good as any other SUV in it's class. 👍
 

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Discussion Starter · #10 ·
The 2002-2006 CRV is one of the most reliable cars ever made. And much more reliable than 2007 forward. People drive them for 400,000 miles and more. If you like the car then get it fixed and keep driving. Sometimes you pay $1500 in one year but I wouldn't expect that often. And it beats shelling out more for some car you don't know the history on, or a car with a monthly payment.
Yes thank you so much. I've reviewed a couple youtube videos on the best still running 15yrs or older cars and the 02 Honda CR-V gets 2nd place just behind the Subaru.
So yes I'm gonna keep my baby, I still love it and IMHO looks as good as any other SUV in it's class. 👍
 

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Discussion Starter · #11 ·
Here's my take on this and it's my take. I grew up with immigrant parents and that's my money lens growing up.



You spent $1,500 on maintenance in 4 years on a car you paid $4,000 for. Understandably that's 37% percent of the purchase however, I want to point out that new tires serpentine belt, and a new batteries is normal maintenance and would be incurred no matter how new your car is. In other words it's a sunk cost. So you're really looking only at $800 or so in money spent in repairs to upkeep an older car, which is essentially $200 or dollars a year($800/4 years). This is substantially cheaper than car payments. So congrats on making it this far, you're way ahead of the curve at this point.

Now you have other repairs totaling $1,500 to $2,000 based on the following items you listed. I think it's definitely reasonable to spend the money on the repairs because the engine only has a 122k on it and you've only spent $800 or so in real repairs while the other costs are sunk costs.

Lastly if you're not comfortable sinking $15k in a new car, definitely keep the older car and put some money in it.
Yes very wise advise, and it resonates with me financially.
I've only purchased one brand new car in my life in my younger days and totally regretted it after two years when I wanted to trade it in. It was only worth half what I paid for it new just two years earlier. Bad investment.
But I'm just amazed that these Honda CR-Vs are so reliable, and mine at 20 years still just run beautifully. Thank you so much for your thoughts.
 

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Discussion Starter · #12 ·
The 2002-2006 CRV is one of the most reliable cars ever made. And much more reliable than 2007 forward. People drive them for 400,000 miles and more. If you like the car then get it fixed and keep driving. Sometimes you pay $1500 in one year but I wouldn't expect that often. And it beats shelling out more for some car you don't know the history on, or a car with a monthly payment.
Yes I very much resonate with your advise. I really have no reason to fear keeping it. I read several articles on the reliability of the series 2 Honda CR-V. And you are correct these cars just run forever if maintained.
So thank you I just needed to hear everyone's thoughts. And all are positive in keeping it.
 

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Discussion Starter · #13 ·
The 2002-2006 CRV is one of the most reliable cars ever made. And much more reliable than 2007 forward. People drive them for 400,000 miles and more. If you like the car then get it fixed and keep driving. Sometimes you pay $1500 in one year but I wouldn't expect that often. And it beats shelling out more for some car you don't know the history on, or a car with a monthly payment.
Yes I very much resonate with your advise. I really have no reason to fear keeping it. I read several articles on the reliability of the series 2 Honda CR-V. And you are correct these cars just run forever if maintained.
So thank you I just needed to hear everyone's thoughts. And all are positive in keeping it
 

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Discussion Starter · #14 ·
and learn to do as much work on it as you can. who wants to pay out $80-$120/hr labor, esp. on an old car.
Yes indeed. I am very mechanical and getting ready to install new front brake pads. And already changed the rear transaxle fluid. Thank you so much for your thoughts.
 

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I keep the car, get the repairs done. why you saved the car. You would have changed out before retirement.
 

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If your AC stil works but compressor is noisy then probably a good idea to replace soon. See threads on the AC 'black death' - one of the CRV's only major problem areas. Mine self destructed a few years ago but as AC not really necessary in UK I didnt replace & just bypassed with a shorter serpentine belt (common practice I believe).
 

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Ac is important when Humidity plays a role. especially when it's wet outside. If new tires are going to be had again, that is where the Alignment could be free. there are special deals out there for them in the area, so if $80.00 is going price you can shop around.
 
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I have an 02 and I just love that damn thing and I refuse to sell it. I'm looking into purchasing a new radio and speakers to get the navigation and bluetooth connectivity. Also to have a new rockin sound system.

I am not unlike you concerning selling it. I've been wanting something new lately for some reason and I thought I had found a nice low mileage 2015. I was getting prepared to go all in on this slightly used great looking vehicle and then I read the specs... Oh HELL NO it had a CVT transmission. What a horrible thing Honda did when choosing to use a CVT tranny... POS I was, nonetheless, devastated. After contemplating it a while, I decided that a new stereo would be good enough since I love my 02 so very much. It still cranks right up and runs great with it's iVTEC. It has < 140k miles and has a lifter knock but other than that I just love it. It's been the best vehicle I've ever owned and that's saying something!
 

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Discussion Starter · #20 ·
If your AC stil works but compressor is noisy then probably a good idea to replace soon. See threads on the AC 'black death' - one of the CRV's only major problem areas. Mine self destructed a few years ago but as AC not really necessary in UK I didnt replace & just bypassed with a shorter serpentine belt (common practice I believe).
Yes I agree.
About 2 years ago the AC over a couple of months it just no longer cooled. So I did the cheap way of buying a can of AC refrigerant at the local auto parts store. I followed the directions precisely and the AC then returned to ice cold, However shortly after adding the refrigerant the compressor started making noticable noise so I would rarely use it.
Took to my mechanic that said he didn't think it was that loud. But I disagree with him. I've continued to drive the car over the last two years but just used the AC I think maybe 15 hours in 2 years as it gets very loud at times, and with that noted fear of the Black death that you mentioned of the compressor imploding and contaminating the entire coolant system.
I live in SW Florida so no AC is a struggle and because I'm retired and just drive locally a few miles weekly I struggle with the heat but I think it's time to consider a new compressor before the worst happens..
 
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