Trading in a car?

Question

If you had a car you’re still paying off and the engine light kept coming on every five months would you trade it in? If you did trade it in would you get the same brand car or do a different one?

MrOracle · Accepted Answer

Every modern car is entirely run by the car's computer, and there are lots of things that will cause the Check Engine light to come on. Many of them are very minor issues - a bad sensor, or a failing ignition coil, or something else that's relatively easy and inexpensive to deal with. But, yes, sometimes these codes mean something major is wrong. Until you know what the codes say - and keep in mind that the code is often only the starting point - there's no way to know what the situation is.

My brother's car (2007 Honda Civic) had a Check Engine light and was having problems starting. He assumed it was the battery and bought a new one, but that didn't fix it, and he was afraid the whole car was dying. It turned out to be a bad relay (a little electrical module that plugs in). The relay was stupid expensive at $70, but it took me 2 minutes to replace it, and the car's been great ever since.

Trading in a car is the worst thing you can do financially - it's convenient, but EXPENSIVE because you'll never get close to the retail value of your car - and it's even WORSE if you still owe money and try to roll your previous debt into a new car, making you even more up-side down financially.

The best plan, financially, is to buy a car that is known to be reliable, pay to maintain it well, and drive it until the wheels fall off. You should be able to drive a GOOD car 5-10 years after the loan has been paid off before you need to replace it. But this requires that you pick a very reliable car - something like a Honda Accord/Civic or a Toyota Camry/Corolla. If you buy, say, a German car, it will eat you alive in repair and maintenance costs, and if you buy a Korean car, it simply won't last - everything will be worn out in 100,000 miles or not much past that.

As a rule, EVERY car is a terrible investment, but some are much more terrible than others. If you are wealthy and can easily bear the costs, then drive what you like. If you are a working-class person, then you can't afford to make any but the smartest decisions available: mostly buying 3-5-year-old used cars (mostly Japanese) for cash and driving them as long as possible. And you need to research the car you are looking to buy, because even some Japanese cars have bad models or bad years that you absolutely want to avoid.

Definitely avoid financing a vehicle if at all possible. Better to drive something 8-10 years old that you can buy for cash or at least pay off very quickly, than to be in debt and paying interest on a car that is depreciating in value daily. That's how you end up broke.

WindAtMyBack · Accepted Answer

The check engine light coming on is not a reason to trade in a car. That light means the computer is reporting some kind of error. The error can be dozens of different things, some more serious than others. So you really need to find out what the error is.

The OBD system (On Board Diagnostics) is required by law. It's mostly for emissions controls. So anything affecting emissions will have a code. The system can optionally have more codes that the manufacturer adds. Most cars have more than the mandated codes.

Most auto parts stores will read the OBD code for free. Just check around.

Or you can read it yourself for free if you want to do a little research. Basically you use a paper clip that you plug into the OBD connector. The paper clip puts the computer into diagnostics mode. Then you start your car. The computer will take over your engine - rev the engine, slow it down, etc. Wait for some lights to flash on the dashboard, then write down the code. But you need to research the specifics for your car. Different cars do it slightly differently.

The code will tell you what the error is. But it will not tell you what is causing it. For example a sensor might report the exhaust gas is too rich, but it will not tell you why. Or the sensor itself might be bad.

The system remembers more than one code. They accumulate over time, so multiple codes may or may not be related to each other. Once you read the code, it erases stored codes and starts over.

You can just ignore some of these errors, but I do not recommend it. It might be something important. Ignoring the check engine light is not a good habit to get into.

lightbulb27 · Answer

depends, new cars are complicated... and if the.

If it says Toyota, Lexus, Honda... Id get it scanned and try to fix the issue. If it's the catalytic converter, get a good aftermarket. If o2 sensor, replace with factory part.

If it's something else, I'd probably get one of the above.

If it says Nissan, I'd get rid of it over 200k miles.

genericname85 · Answer

honestly i don't give much of a shit about engine light. i'd just get an OBD2 bluetooth adapter and delete the error code from the smartphone myself. if your engine has a "real" problem, it will stop running or make worrying noises. these lights are just there for dealerships to make money.

jshm2 · Answer

If you're still paying it off, then the manufacturer or retailer will usually give it a once over for free.

GoodGuyBreakingBad · Answer

I'd get an all different car brand.

Redstang88 · Answer

Depends why the check engine light is coming on. 9/10 it’s nothing or a bad sensor that’s easily replaced

bean2k21 · Answer

Some people buy cars, other people buy Mercedes. The problem is with the driver.

Anonymous · Answer

I don't make any decision that costs me significant amounts of money without knowing everything i can about it first.

msc545 · Answer

I would have the car looked at and NOT at the dealership (rip-off). It may be something minor.

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