Used car vs engine replacement

Clownfish68

Hi all looking cfor a bit of advice. My volvo v60 is burning oil ive only recently found out this is a common issue but ive had it for 8 years at its done me well until recently. Ive been offered 4200-4900 p/x. Rang my father in laws mechanic he said roughly 2k for a new used engine. Its got some other bits that need sorting brake pads/discs, alarm replacement, drivers door lock which is around 1500 to sort. Plus any additional work associated with its next service e.g brake fluid timing chain etc. All in all probably 4-5k to get it sorted. 

Its a 10 year old car with 82k on it. Whilst its a bit beaten it does run well despite the oil issue. 

Volvos quote was obviously double that of the local garage so i started looking at used cars and like most shocked at the prices i get inflation but still. Cars in my ideal price range (18-20) are typically 5-7 years old already so the concern is work will start to be needed not long after ownership. 

Ive reserved a 24 plate skoda superb estate 2l diesel with 6.5k mileage. Basically the last run of the previous model so although the basic trim it has the majority of add ons associated with the higher trim. Its a good car but at 26k its just eye watering. It still benefits from manufactures warranty for 2 years with the option to extend for another 2-3 years depending on how i set the arrangement. It drives well slight bit of noise from road but other than that its great. 

My mileage is around 14000 a year 90% on motorway with 100 mile round commute twice a week with longer journeys every now and again. For that reason Im not ready to take the change to ev yet. 

I have 5.5k in savings for the car. About 6k in credit card debt which ill pay off with remaining savings (was planning to pay earlier but weve just had to get washing machine, car bills, boiler etc). 

Part ex is 4900 for this car so total putting down is 9600 (deposit paid) with a 6.7% loan to cover the rest. 

Is it worth replacing my car with a car that benefits from warranty/ that should be little to no repair costs (its cost me 1500 just to identify the issues as it was thought it was the dpf) or get the engine replaced which if it craps out as its used will leave me 5-10k down. 

Eventually ill need to buy a car and the bullet on a depreciating asset but i just dont know whether now is the time or am i just throwing money at the wind. 

paul_c123

Its not worth replacing an engine yourself, and especially not worth paying someone else to replace it - its just far too big/expensive of a job. Better to px the car as-is and let the next guy make that call.

But, the car you've found seems to be well out your budget. You need to take a step back and work out your budget, then seek a car within it. Will probably be much smaller than a Skoda Superb estate and might not have any manufacturer warranty left, but if you take your time and choose wisely, no reason it can't be a reliable car too.

Clownfish68

Thanks. I can actually afford the loan payment in fairness at 300pm or therabout but i an the main breadwinner. Earn 50k with pay rise this month which i was joping to just dump into my pension which will get swallowed up with the car payment after all bills are paid i have a fair amount left over a month). I thought of lease but i dont like the idea of not owning a car i.e run it for as long as possible whereas lease your in perpetual payment scenario. 

My problem is just the pyscological aspect. I either get a car that im comfortable price wise i.e 20k but at least 5 years old with 40k -50k on the clock that ill soon add up or spend the extra and have a car with little mileage/warranty. 

ButterCheese

I would take the part-ex offer.  The age of the car is in the territory where other expensive stuff can go wrong even if you've got a new (used) engine.  The fact that the engine is also used, in a year or three you might be in the same position with this engine too.  Plus clutches, turbos, EGR valves etc can all go and be expensive to fix. 

You could have (for example) bought my car for 3k which has had all the big stuff done.  It's bangernomics in a way but you have a better car than if you'd just bought a 800 quid fiesta.

I don't know what you mean about your pension, but I was always advised not to touch it or to opt out, as you never know what you will need when you're older

Herzlos

£5k to fix to get a nice car you already know, or £22k to get a new car.

If you like the Volvo and don't really see a need to upgrade then I'd be repairing it and getting another few years out of. The Superb is a nice car but it's not going to be any cheaper to run.

Clownfish68

ButterCheese said:

I would take the part-ex offer.  The age of the car is in the territory where other expensive stuff can go wrong even if you've got a new (used) engine.  The fact that the engine is also used, in a year or three you might be in the same position with this engine too.  Plus clutches, turbos, EGR valves etc can all go and be expensive to fix. 

You could have (for example) bought my car for 3k which has had all the big stuff done.  It's bangernomics in a way but you have a better car than if you'd just bought a 800 quid fiesta.

I don't know what you mean about your pension, but I was always advised not to touch it or to opt out, as you never know what you will need when you're older

Thats pretty much the worry. I have maintained the car well but in all honesty nothing has went on it. I.e those bills can still come along and ive dropped 5k. 

Pension point was just the additional money id get from my pay rise was just going to be put in mypension as additional  percentage i pay into. So i wouldnt see it but atleast id be seeing value in it eventually rather than paying a loan 

WellKnownSid

What is the "actual" problem with the car?  What are the symptoms?  What are you experiencing?

Please be aware that the cry of "it needs a new engine / gearbox / expensive component" is the very first thing all garages will tell you when they cannot be ar5ed bothered to diagnose an issue.  Do you have an actual diagnosis from a garage with access to VIDA?

Most engines burn oil in later life - especially with low-friction rings and extended service intervals.  Many warranties (looking at you, Skoda) actually deliberately exclude this in their cover

What you're really saying is "for the small sum of your car plus all of your savings plus just £4,000-odd a year on top you won't have to worry about spending any more money on your car".

If the aim is to get a shiny new car then feel free - just putting this into context, especially if you are over-egging the repair bill.  Not saying you are, or that there is anything wrong with wanting a newer car, just putting it out there.

Clownfish68

WellKnownSid said:

What is the "actual" problem with the car?  What are the symptoms?  What are you experiencing?

Please be aware that the cry of "it needs a new engine / gearbox / expensive component" is the very first thing all garages will tell you when they cannot be ar5ed bothered to diagnose an issue.  Do you have an actual diagnosis from a garage with access to VIDA?

Most engines burn oil in later life - especially with low-friction rings and extended service intervals.  Many warranties (looking at you, Skoda) actually deliberately exclude this in their cover

What you're really saying is "for the small sum of your car plus all of your savings plus just £4,000-odd a year on top you won't have to worry about spending any more money on your car".

If the aim is to get a shiny new car then feel free - just putting this into context, especially if you are over-egging the repair bill.  Not saying you are, or that there is anything wrong with wanting a newer car, just putting it out there.

Somewhat unknown. My garage thought it was DPF for a short period i was doing more local driving with previous job (10miles vs 100now to work). After taken it to volvo they have said most likely pistons/head gasket. Ive later found out its a very common issue with this car. Volvo quoted 8-10k with other work. 

Im waiting on a call from my garage now. The other mechanic is my father in law he has advised the rough quote on engine and ive used previous quotes on the rest on the discs/alarm/door issue. That i had planned until i found the engine issue. So working assumption is roughly 4.5k. The windows and door issue 900 as you need to remove everytbing on this car. Discs rough costed with a bit extra for unforseen issues while its getting done. 

Im honestly not bothered about a shiny new car yes it would be nice but as we only have the one car it needs to be reliable for my commute distance.  My concern with the used market is 18-20k gets you a 5 year old car already at the 50k point for a practical family car and by the time ive added mileage to it after a year is where the servicing on top of a loan comes from. Newer car despite being expensive saves me that to an extent on the reliability fromt. 

My car being fixed could run 6 months could last 5 years as ive never done an engine replacement so dont know how reliable a used engine could be. If it goes then thats cost of the car plus the savings albeit in the mean time id be able to stash some cash away but would put me a weaker stance if that makes sense and then borrowing a larger loan amount. Whilst car prices are high i do not think thry will fall substantially to old values so it will still be somewhat inflated. 

Herzlos

If your commute has dropped down to only 10 miles, and you decide to change car then I'd be looking at either petrol or electric. That'll save you any potential issues with DPF or adBlue in the future.

Interestingly, your same budget could get you a 2024 Dacia Jogger with under 10k miles on it. Despite the stupid name it's a pretty decent 7 seater family car, though it'll certainly feel like a step down from the Volvo or Superb.

Clownfish68

Herzlos said:

If your commute has dropped down to only 10 miles, and you decide to change car then I'd be looking at either petrol or electric. That'll save you any potential issues with DPF or adBlue in the future.

Interestingly, your same budget could get you a 2024 Dacia Jogger with under 10k miles on it. Despite the stupid name it's a pretty decent 7 seater family car, though it'll certainly feel like a step down from the Volvo or Superb.

Thanks. Previous job was 10 miles away but i went back to work for my previous employer which is a 100m round trip on the motorway 

Goudy

If it has the dreaded Volvo oil control ring problem, a used engine is just asking for more trouble.
I wouldn't throw any money at an unknown engine.

If there's still some value in it as a trade in, it might be wise to move it on.

Instead of a diesel, have you considered something like a Toyota Corolla Hybrid Touring?
You'll get near diesel mpg out of them and they tend to be pretty much bulletproof.

They came with one of two different batteries, Nickel Metal Hydride or Lithium Ion.
The NiMH tend to be good for 160,000 miles or so before they drop off but the Li-ion can last much longer.

One of their only weak points is the electric water pump can break up inside anywhere past 100k.
Cheap and easy fix and the cars onboard diagnostics will warn you when it starts going.