I have a 1999 Hyundai Elantra with <97,000 miles on it. It still runs great, but it’s starting to show its age with some repairs and I worry about its reliability now. Is now a good time to buy a new 2010 Elantra? I have already been told I can get $2000 trade value on my 99, plus $1500 rebate, and a decent interest rate on a loan. I think I could get another 2-3 years out of my car, but by then vehicle prices and interest rates could be higher. So, with the economy the way it is, and with the age of my car (11 yrs) is it better to just drive it until it dies, and then in a couple of years buy a new car regardless of where the economy is, or buy one now and take advantage of some trade in value? Other options would be to wait until the 2011 Elantra comes out and then try to get the 2010 at a lower price, or opt for the 2011. Any thoughts/advice?
What’s the maintenance history of your current Elantra? Have you followed the manufacturer’s schedule, especially where the timing belt replacement is concerned?
If so, there’s not much reason to worry about the car’s reliability, and it’s almost always less expensive to maintain a car than to replace one. Worrying about trade in value is a waste of time. Your Elantra has depreciated about as much as it’s going to. Another year or two won’t make any difference.
On the other hand, if driving a new car would make you feel more secure, then there is no better time to buy a new Elantra. Consumer Reports rates the Elantra very highly, and considers it a great value.
It’s your choice. We can’t tell you what to do. Personally, as long as my cars continue to run well I will continue to maintain them. '97K miles is not a big deal these days.
Now, how about that timing belt? Was it replaced at 60K as it should have been?
Have you test driven a new Elentra yet? If not, now is the time to do it, and let them know you are not really interested in buying today, just weighing options. Take your time and look around at other makes as well if your initial test drive didn’t sit well with you, or another dealership if you didn’t like the salesmen there.
$2000 trade-in is a gift for a 99 Hyundai. It is worth about $1000 as a trade in. You may even be able to get more money off.
I would move on if your funds allow. The 2010 is a like Lexus in comparison to a 99 Hyundai. They have gone a long way.
Hyundai dealers are dying for business. My relative works at a very large one sales are terrible currently.