I have a 2000 Toyota Camry which I love. It has the right features.. nothing more nothing less than what I need in my car. It has over 135,000 miles on it and still runs very good. However, in last one year I have spent approx $1500 on oil change, brake, serpentine belt, timing belt and catalytic converter.  The Kelly book value of the car is only $1700!

I am always debating on whether I need to dispose off this car and buy a new car or should I hang on to it and be happy even if I have to spend additional $2000 on repairs and maintenance.

Let us see what factors should I consider and what is the math between the two options- Buy or Keep and continue to spend on repairs.

The Math Myth

At some point, almost every car owner will be faced with repair bills. And as the bills start to add up to a large proportion of a car’s value, many owners start to figure that their car has officially kicked the bucket. But thinking that way is actually a costly mistake.

This should be considered in a different fashion.. .. At a basic level, a car’s value — any car’s value — is its ability to provide transportation. An older car and new car can both do that. The question drivers whose cars are on life support should be asking is: How can I get the transportation a car provides at the lowest cost? Once you take a car’s potential monetary value out of the equation, the math becomes clear.

Take my example where the repair cost was same or closer to the car value. Should I sell my car? No! Because while it would take about $1,500 to keep that old Camry on the road, buying a new Toyota Camry will costs about $18,000. This clears the math myth!

The Real Math

Here’s the math any car owner should do when deciding if their older car is worth keeping

Take my car example:

If I spend another $1500 and drive it 15000 miles/ year, then my total cost excluding the gas will be  $1500 plus insurance and I will not be paying any monthly lease/loan payments.

If I buy a new Toyota Camry for $18,000 then  at 4% interest rate, I will be spending approx $400/month or $4800/ year.

Therefore by keeping your car, you can save approx $2500 every year

Other Factors to Consider

If your older car is consistently unreliable and causes you to miss work show up late, or repeatedly leaves you stranded along dark highways, it might be time for a new one.

Ford Start

Ford Start

Ford Start

Ford Start

Just how far can you take the basic idea of transportation and simplicity and still deliver an inspirational automobile designed for urban transportation in emerging markets?

For the global design team at the Ford Strategic Concepts Group in Irvine, Calif., it began with taking a step back, reflecting on the complexity and noise in the world around us.
“In an era of constant visual noise, we have created a car that conveys visual purity and harmony, in which every line has meaning and purpose. The Ford Start delivers a dynamic, personality driven design that stays true to the global Ford brand,” said J Mays, group vice president, Design, and chief creative officer.
The Ford Start Concept showcases a future 1.0-litre EcoBoost three-cylinder petrol engine which reinforces Ford’s ‘fun to drive’ DNA. This engine will provide the power and drivability comparable to a larger I4 engine while delivering a CO2 rating under 100 g/km. This smallest-yet EcoBoost engine will go into production in the near future.

The overall design philosophy for the Ford Start Concept was one of making music, not noise. It started with studying the key attributes that contribute to an endearing quality which modern small cars rarely deliver. The design team brought some inspirational vehicles into the studio to study the attributes that draw people to them, including an original Porsche 356 Speedster and an Alfa Romeo Zagato SZ.

With early sports cars and transportation in general, simplicity and purpose often was the key. Proportions, stance, silhouette, efficiency and a singular focus on what is really necessary for the driver were priorities – without sacrificing the fun and freedom that driving brought.

“The concept of simplicity can be found all around us,” Mays explains. “Endearing designs in architecture, home furnishings, appliances, transportation, or even a good screenplay are often similar in one respect – simplicity. Our vision was to look at a small car holistically, like slicing through an onion where every layer gave meaning, function, and substance to the next. As in nature, taking this approach creates beautiful, endearing objects.”

“As a team, we engaged in a philosophical discussion that yielded a common vision. To create a beautiful object that spoke to us emotionally as well as intellectually”, explains Freeman Thomas, design director. “The exterior design is simple with purposeful proportions and refined surface language normally found on vehicles in premium segments.”

The design team went through a variety of emotional iterations of front end designs to find the right balance and expression.

The team’s objective with the Ford Start Concept was to step back and ask what is really necessary. The result is that there is not a line the design team would wish to add or take away. The vehicle’s sculptural exterior takes into consideration efficient aerodynamics, from the front fascia, to the flush upper body design elements, and full underbody tray.

Exterior design elements were deliberately kept simple, functional, and consistent. The cars minimalistic approach extends through all of the design details around the car.

The interior compliments the direction of the exterior. It has been designed to be pure, tactile analog experience. The Start Concept interior was designed to evoke passion and driving excitement with the feeling one would expect from a more premium segment.

“The cockpit is about being the right size with everything you need in the right place,” Mays emphasizes. “We concentrated on providing only the information the driver really finds necessary. Great visibility was a major priority as well as driver control and passenger safety and space.”

An additional feature of the interior is “MyFord Mobile Concept,” a conceptual look into how to leverage smart phone interface with the popularity of personalized “apps”.

While the construction is simple and the number of parts was reduced, the execution of the front bucket seats results in a design that is not only form fitting but communicates an upscale, premium look. By integrating an ergonomically correct comfort curve and the optimal driving position, the seats were able to be thin and comfortable.

With snap-fitting inserts, the seat material and color allows for easy customization by the owner. The direction was to add to the purity and philosophy of the rest of the car by creating signature seating and headliner treatments that are unique. That uniqueness and purity extends to every area of the Ford Start Concept.

The Ford Start Concept also offers a personal trunk compartment. The trunk saves weight, gives more room to the rear passengers and provides a secure place for possessions.

Beyond basic transportation however, the Ford Start Concept is a case study and offers a glimpse into what is possible. The innovative hybrid aluminum/high strength steel body construction features a lightweight aluminum safety cell, which provides a rigid structure for the glass and roof to attach and houses side curtain airbags for additional occupant safety.

All exterior body panels are made from deformable, pre-colored recyclable composites. Natural sisal fiber is used to form the interior panels. The pressed aluminum wheels are mated with Michelin Green X tires featuring low rolling resistance and lightweight construction.

The holistic design approach – considering advances in the drivetrain, materials, and clever construction – demonstrates that a weight savings of 140 kilogrammes is possible.

“Start may be an advanced concept, but with its EcoBoost engine and strategic use of materials, it still delivers the fun we had driving our very first cars,” says Thomas.

“The Ford Start Concept is the first pure concept we’ve developed under our ‘One Ford’ approach,” says Moray Callum, executive director, Americas Design. “J Mays, Martin Smith and I worked with Freeman and his team to deliver a concept that visually reinforces the fun to drive element that is at the core of the Ford brand DNA.”

FORD START CONCEPT PREVIEWS EXPANDING ECOBOOST RANGE WITH ALL-NEW, THREE-CYLINDER 1.0-LITRE ENGINE

• New three-cylinder Ford EcoBoost petrol engine supports the company’s future philosophy of more power for less fuel
• 1.0-litre Ford EcoBoost I3 will deliver comparable power and torque to a larger I4 engine combined with exceptional fuel economy for a petrol engine
• Anticipated CO2 emissions to be less than 100g/km
• Latest addition to the advanced Ford EcoBoost engine family will bring affordable and powerful technology to a mainstream vehicle lineup

Source: Ford and Autoblog

Want to know which car offers the biggest discount?

Here is the list:

1. Chevies: the Cobalt and the Malibu both sport $3,000 incentives.
2. $6,000 for  Volvo XC70
3. $10,000 off BMW 6 Series.
   

   Cobalt Coupe

   

Which brand offers the best discounts?

Ford and Hyundai first and third. Ford is offering discounts that are 13% off the sticker price and Hyundai 12%.

Chrysler and Jeep rank second and fifth, which is no surprise, because both are short of new models,

Which models offers the best discounts?

Mazda MX-5 Miata and Chevrolet Corvette are listed as among the models with the most price flexibility

Mazda Miata

Corvette

Which brand offers the worst discounts?

Topping the list is the Mercury Grand Marquis, an old-fashioned body-on-frame sedan that hasn’t been updated since the first Bush administration. The Grand Marquis is in short supply and is sold primarily to older buyers, who are presumably set in their ways and aren’t inclined to dicker over price.

Mercury Grand Marquis

Which manufacturer does the best job of managing its end of the year sell-down?

Subauru, where only 0.3% of its sales came from 2009 models.

Which vehicles move fastest off the lot?

The Mercedes GL550, BMW 335D and Chevy Equinox. Blame limited production for the two German makes and a hot new model for the Equinox.

Mercedes GL 550

BMW- 3 Series

Chevy Equinox

Which sit around the longest?

Among the top five are the Ford Mustang, Chevy Malibu and Dodge Grand Caravan.

Grand Caravan