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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
I had my first Honda 2007 SUV for 13 years, gave it to my son and he got $7000 for it just last year.
In 2019 I bought a new 2019 that I can't wait to get rid of as soon as I get the Covid vaccine.
If you still like it, keep it, keep it, keep it. You know what you have, but if you buy something new, you might end up spending more.
 

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New to this forum and CR-V ownership, but have many years turning wrenches both in dealerships and small shops, plus doing maintenance on my vehicles. I recently purchased a 1 owner, 2005 LX AWD with 108000 miles mainly because of the incredible value of these CR-V's. No, it's not perfect. But the problems with this particular LX are minor and mostly normal maintenance. The only major issue is the A/C compressor is noisy, so I don't use it. (Did not want the "Black Death". But I factored in replacement cost before I made my offer. I used to specialize in A/C work back in the R-12 days, so it shouldn't be too much of an issue for me, other than access to it. I have the new R134A gauges, because I've serviced the A/C in my Silverado before.

I plan on keeping this CR-V forever, as I am retiring soon.
 

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4 years ago we had bought a 2002 CRV for our daughter from an elderly woman, and it only had 26k miles! It just needed maintenance items, throttle body with new throttle position sensor, new shocks, and I installed new radio with CarPlay. This thing runs like a champ. I painted the black plastic trim, and it likes like it is under 2 years old and not nearly 20!
 

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4 years ago we had bought a 2002 CRV for our daughter from an elderly woman, and it only had 26k miles! It just needed maintenance items, throttle body with new throttle position sensor, new shocks, and I installed new radio with CarPlay. This thing runs like a champ. I painted the black plastic trim, and it likes like it is under 2 years old and not nearly 20!
Sounds great! Very low miles! We'd love to see pictures of it!
 

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Discussion Starter · #45 ·
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.
Wanted to be sure I did Thank you. Your personal take is pretty much my own story.
Grew up with single Mom, and worked full time since I was 16. Buying my first car at 16 for $150 was a big deal, and I quickly learned DIY in fixing my old beautiful 1953 Chevy, that I think burned more Oil than Gas.
My Point is I've never been really attracted to buying a brand new Car vs a used one in excellent shape.
So here I am now getting ready to turn 70, and driving a Luxury 2002 Honda CR-V, that I swear looks as good as any other car on the road in 2021.
So I'm committed now to keep it until it Die's and then I'll solute it and call Uber for a ride home. LOL
SO I'm an old man 70, with an Old Yellow Lab that just turned 12 , and an almost 20 year CR-V, and a 35 year old home , and ALL Paid for No debt, NO Regrets.
My Only complication is keeping up scheduling regular repairs, on ME, The DOG, The CAR, and the HOUSE..
Problem is at 70 starting to think I could a Tune Up, as well as the Dog and Car.. HaHa..
 

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Wanted to be sure I did Thank you. Your personal take is pretty much my own story.
Grew up with single Mom, and worked full time since I was 16. Buying my first car at 16 for $150 was a big deal, and I quickly learned DIY in fixing my old beautiful 1953 Chevy, that I think burned more Oil than Gas.
My Point is I've never been really attracted to buying a brand new Car vs a used one in excellent shape.
So here I am now getting ready to turn 70, and driving a Luxury 2002 Honda CR-V, that I swear looks as good as any other car on the road in 2021.
So I'm committed now to keep it until it Die's and then I'll solute it and call Uber for a ride home. LOL
SO I'm an old man 70, with an Old Yellow Lab that just turned 12 , and an almost 20 year CR-V, and a 35 year old home , and ALL Paid for No debt, NO Regrets.
My Only complication is keeping up scheduling regular repairs, on ME, The DOG, The CAR, and the HOUSE..
Problem is at 70 starting to think I could a Tune Up, as well as the Dog and Car.. HaHa..
 

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I have a 2002 CR-V EX and mine still looks good and runs well also! My sister keeps wanting me to get a new vehicle, but at 137,000 miles, I still can't seem to do it. I love that open middle console! I can't seem to find that in any other SUVs. Its a game changer for me! I'm looking for new tires now. Any suggestions?
 

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I have a 2002 CR-V EX and mine still looks good and runs well also! My sister keeps wanting me to get a new vehicle, but at 137,000 miles, I still can't seem to do it. I love that open middle console! I can't seem to find that in any other SUVs. Its a game changer for me! I'm looking for new tires now. Any suggestions?
Yea keep it!

I have had these tires for about half their life now and have really liked them. I spent a lot of time looking at reviews on tire rack and these were a good price point and many people like them.

 

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My limit experience so far is we love our 2002 CRV Canada model she runs good once giving some TLC but now she has developed some wheel annoyances but looking into that now. As for looks the style looks new as it did when it came out. Not sure why they changed they style but I liked the looks of this model family year. I am thinking of getting another one in this model years because the style looks refreshing and appealing to the eyes. This is our first AWD vehicle and will find out how it performs in winter in the midwest when we get end of the year. But that will require tire replacement before that time comes as well. It has 243K but runs good and strong without issue we plan to add hitch later one.
 

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Discussion Starter · #52 ·
I agree with you. The the Gen 2 Honda CR-V looks as good as stylish as any new suv I've seen lately. Mines in premo condition with only 122,000 miles on it. It's on the shop right now getting a new AC compressor, trans fluid change, brakes, and an oil leak fix as well as front end alignment. Gonna be about $1,900 in repairs but the first I've needed in 3 years so well worth the investment IMHO.
I love my 2002 CR-V.
 

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I agree with you. The the Gen 2 Honda CR-V looks as good as stylish as any new suv I've seen lately. Mines in premo condition with only 122,000 miles on it. It's on the shop right now getting a new AC compressor, trans fluid change, brakes, and an oil leak fix as well as front end alignment. Gonna be about $1,900 in repairs but the first I've needed in 3 years so well worth the investment IMHO.
I love my 2002 CR-V.
We have older cars and kind of compute whatever fixes they tend to need with age vs a car payment every month. But we also keep cars a long time as long as they are in good shape for the job. But we also prefer MT so we hang onto ours until there is a good reason not to. Some people like to update every few years and that's fine. I liked the First Gen look better but Second Gen is right up there. Kinda wish we had jumped on a Second Gen sooner so care was under out control but it goes with keeping cars a long time.
 

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I’d keep it. I’ve been in the market for one for about 6 months. All of them are either too expensive or too worn out. Driven countless ones go to do deals and walk away with cash still in my pocket. I know when I finally get one I’m going to keep it for a really long time. I’d say $1500 in repairs is no big deal.


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I have a 2002 CR-V EX and mine still looks good and runs well also! My sister keeps wanting me to get a new vehicle, but at 137,000 miles, I still can't seem to do it. I love that open middle console! I can't seem to find that in any other SUVs. Its a game changer for me! I'm looking for new tires now. Any suggestions?
Having had several CRV's over the years, I like General Altimax RT43 tires. They have been rated very high, the cost is reasonable and tread life is excellent. I have an '18 and my grandson has an '03 with just over 300,000 miles on it and we both have the General Altimax tires. I agree with several of you saying that you really like the '02-'06's. My daughter drives a low mileage '02 so we are a Honda family.
 

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My son has a brown AWD 2005 EX with about 160,000. He's had it since 2016. The original owner was an engineer and took meticulous care of the mechanics. All motor mounts were replaced. The rubber parts on the suspension had been replaced. I had to replace all the door actuators to lock/unlock the door locks. Recently, the power steering hose needed to be replaced. Personally, I think it's a great looking car and practical for a 26-year old who likes the outdoor. It has running boards, roof rack and hitch. Oh, one major repair was the ABS Modular which controls the anti-lock brake system. My old-time mechanic said it "wasn't" necessary because a new one was some crazy amount like $2,000. Well, I told him I wanted the ABS to work. Well, after installing 2 different used units because the first one unit's serial number was off by one letter, it's running fine. Make sure you get the exact same serial number as the one in your car. It was around $300-$400 to replace and 10 days of waiting for the part.

Last year, the muffler was replaced with an OEM. Originally, my old-time mechanic thought it was coming from the engine. Well, I bought it to a Japanese mechanic who only works on Japanese cars. While test driving, he had one of his other mechanics stick his head out of the window to listen for the noise. And it was coming from the muffler!

Due to its age and mileage, what preventative repair would/should/can do for something that will likely fail in the near future? Alternator? Power steering pump?

If the tranny needed to be rebuilt, I got a quote of around $2,000. This tranny guy only works on Honda and Acuras. Who would spend $2,000 on a 2005 CRV?

A valid reason to get a new car is safety. How much safer is a newer CRV than the 2005 CRV?

I thank you in advance for your wise comments.
 

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Rust is the only thing which 'kills' cars for me. If it's solid underneath everything else is repairable, keep it running for as long as you can. Depreciation always costs more than repairs, unless you've been particularly unlucky and had a major item fail like an engine or transmission.
 
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