I am an 18 year old college student that commutes to school daily. I currently have an 02 x-type with 126K, and needless to say I am nervous for what may go wrong. Nothing is wrong with it, so i think now might be a good time to sell as everything is in perfect condition and dealer serviced. As a young student, I want a 'young' car , but am not willing to give up my bells and whistles on the car.

What do you think of the 2009 Lincoln MKZ for a younger driver? Any suggestions on a newer warranted car? Thanks!

 

the only advise is if your going to school
run it to the ground
that way you dont have a car payment,
if its paid for never get another car while your in shool

keep the money in your pocket
and if it needs repair you have money the and the forum

this rule is if you have any kind of car

 

If buying a 2009 model car is an option, you don't fall into the "typical" starving student scenario by most peoples standards. I'd never assume a student driving an 02 X could jump into an 09 Lincoln.

That said, do you like driving the X? What do you think it's worth? I would venture to guess that an 09 MKZ will depreciate more than your X is worth over the next couple years. In other words, you can afford to run the X into the ground, or pay for some repairs and be way ahead of the game. If you just want another car, it doesn't really need to make sense to us.

So is your goal to save money or drive a new car?

 

I kind of like the MKZ, but a "young" car for a younger driver? Not sure that an MKZ would be on my list if I was your age. Maybe me (I'm almost 53 now).

I would have to agree with Dennis. What could you get for your car? Maybe $5-7K, if you are lucky and most likely less, Then you would spend $15-$20K on a 2009 MKZ. That extra ten large could pay for a lot of "potential" repairs on the X. You have a known quantity now and are happy with it. Sometimes reading the forums can put doubt in your mind as the majority of the posts involve someone searching for a solution to something that has gone wrong. YOu get that paralysis from analysis sometimes. I remember when doing research on here before buying mine I started wondering what kind of POS am I getting into, but after almost 50K miles it's been totally reliable so far. You have a nine year old car and chances are if it was problematic you would have seen that long before now. For what it is worth, keep up the maintenance and keep it through school and reward yourself when you are making the big bucks from your first job. If you can't resist yourself maybe consider a 2004-2006 Acura TL. Sporty and they have a ton of features. Cheaper and younger skewing than a 2009 MKZ.

 

Basically the situation is as follows. The x-type will be approaching 130K here soon, and I have been warned the TC case typically goes before 140K and the tranny typically goes before 150K. The dealer told me these facts along with the reality of upcoming repair costs. If I buy the Lincoln I will get a 2009 with about 37K for around 18000-18500 including title and tax. I will put down 11K on the car so that i can still have 20K in the bank saved for tuition (which due to scholarships may pay off everything). The jags repair bills range from an average of 200 now, but have steadily been rising potentially approaching 300 monthly next year. (If I had a crystal ball all would be great.) The Lincoln would be under the bumper to bumper warranty for another 13K miles or until 2013, and the powertrain is 6yr/70K miles or 2015. I drive 12-14K yearly, mostly city driving. My payment would be under 125 monthly @3.5% for 5 years. The general preventative maintenance and 'wear' items replacement costs will be about 60 monthly until the warranty expires, and it runs on regular gasoline. I bought the jaguar from my dad, and could make money on it. Since I commute to school, if it breaks, getting to class is much more difficult and I have no idea how much the repairs could be yearly. (It’s been having small issues more frequently). I was thinking that at least with the Lincoln, I would have a warranty backing the product (adding peace of mind). How is the caddy 2007 CTS? I am worried about the RWD, but like the car. I love the jag, but I don't want to suck myself dry on repairs when I can still sell it and make money.

 

I may go check out the acura. I would love a 2008 x-type, but the warranty jaguar offers just dosen't compare to caddy, lincoln, lexus, acura, and infiniti.

 

the only time the tc goes is if

1 you use it as a drag car
2 you dont change the fluid
3 your tires

one customer we have,has 278,000 miles on his
and all he does is change his fluids
same transfer case

 

i have a 03 CTS and it is a great car. now you may be suprised but for the price of a 07 cts V6 you can grab a 05 CTS-V with comparable mileage.
also the cts-v gets better hwy mileage under normal use, mainly due to the 6th gear.
the cts will handle snow better than most rwd vehicles, its low, wide, and long. gives you a lot of time to correct a slide (if you arent driving like a fool)
repairs on the cts are much cheaper than repairs on the jag...the cts v6 3.6 shares the engine with a lot of gms including the camaro.
jump on cadillacforums.com and do some reading.

aside from me loving the cts, i dont think its in your best interest to dump that kinda money into a new car...all cars break and that mkz only has 13 k coverage on it...not much at all.
if you are looking for a reliable low maintenance car look at a loaded honda accord. my friend put over 300,000km on his from age 16-25, his mom bought it new and he got it off her with next to no km on it. the whole tie he owned it he put $500 in parts into it (not including maintenance and brakes)
personally i dont like how the accord drives, but for reliability you cant go wrong.

 

My dealership refuses to change the TC case fluid. I specifically asked them if they would change out the fluid, and he told me thay would have to remove it, and it would be a 1K job. I know it was bs, but no other mechanic in the area really seems to work on jags.

 

I think the key words here are "potential", "facts" amd "peace of mind". You mean the "potential" of the car averaging $300 a month in repairs. Yeah, that is possible, but then again it could also have the "potential" to be reliable the next couple years and be sunstantiallly less as you have kept up the routine maintenance.

You mention the dealer told you that failure of the transmissions and transfer case "facts". You have to consider the dealer told you these "facts" while they were trying to sell you a car. Those "facts" might be skewed might be that. Anything is more likely to require more expensive repairs as it ages. That's just logic. Just because it comes out of a salesman's mouth at a dealer doesn't make it gospel. I'm not knocking dealers, just want you to consider the source and the circimstances they told you that.

The "peace of mind" is a different thing. If spending the $11K for a newer car with a warranty that will be in force for about another year gives you that peace, then it doesn't matter what anyone thinks. It works for you. Everyone is different when it comes to those things.

You make a good point about the condition of it now making it an easier sell. However, if you were thinkiing of selling it yourself as opposed to trading it in at a dealer that might be easy and might not. Our cars are not the easiest t sell. Depending on what you ask it could sell quickly or could take you a while, like Stu's car.

One other thing to factor in is that you mention the potential repairs might average $300 from here on out compared to earlier being $200 per month. You have to remember that you will be spending $125 a month on a car payment as well, so the potential "savings" would be really about $75 a month. And one more thing to consider, does that $125 a month for five years include the sales tax and other fees associated with the transaction? Those might add close to another $1000 to the equation. Plus, what about the insurance costs on a 2002 Jag vs. a 2009 MKZ? If teh MKZ's are higher that might also eat into your potential savings.

I'm not trying to talk you out of this and you sound much more mature and logical than a lot of college age kids, but I'm just trying to point out some other sides of the issue to consider that might not be immediately apparent. Wish you luck whatever decision you reach and if you sell teh Jag let us know what you end up with.

 

Alfadude, thanks for your great questions! It was actually the jag repair tech that told me about the ‘potential’ failures, after i told him i would probably not purchase another jaguar (as I hate the new styling). They knew i was not at all interested in the XF, and the warranty was not that great. My repairs currently at around 200 a month, but have steadily been climbing. I am really anticipating that 300 a month on the basis of more major repairs that may or may not need to be made. When things break it is soooo expensive! They also warned me the axle, tone rings (may have a different name) etc. are all VERY rusty which is normal, but will need to be replaced. While I don't know if that's 5K miles or 50K miles, I am concerned the repair/maintance cost will balloon. I NEVER trust the sales pitch (not to knock them) but their job is to sell cars. The info I had received was from a certified jaguar tech, and service manager. I am going back and forth whether to sell, but I am concerned how well the car will hold up since I live in Ohio, and it is not garaged. I am starting to see more wear on the car (it still looks almost new though). I am simply concerned that if the reliability tanks off (which if I had a magic ball all would be great) that I may be kicked in the butt by repair costs. I like having the bells and whistles in the car, and am not willing to give those up in a new car, hence the Lincoln/Cadillac choice. I really appreciate all this valuable insight. I am still questioning my own decision, but want to ensure I am making a good decision. I love my x-type sooooo much, but I don't want that emotional attachment to get in the way of me making a solid business decision when it comes to my vehicle needs. I like the Lincolns powertrain warranty which would offer me adequate coverage through my college years. I am on track to graduate one year early, so I would really like coverage. I know with modern cars, I probably won; use it, but the peace of mind is also nice. This will be a hard decision.

 

Oh, the 18-18.5K included title, taxes and fees. It's the off the lot price. Trust me, i will negotiate the heck out of that one.

 

call up the clark howard show
hes a great help
but you may not like what he says

he will tell you to run it to the ground

your always ahead when your not locked into any loan
when you finish college and making more money
you have better options

dont forget you have to pay back your student loan

a car is not a necessity in college

but if your loaded go for it

 

Hi Dennis, I wanted to clarify that I commute to classes. I do not live on campus, as it is much more expensive. I commute to classes 5 days a week in order to avoid being forced to take out loans. I am not planning on taking out student loans as I work throughout the year, and work 60+ hours weekly during my summers. I have been lucky to receive money, but i have also saved everything and now will pay my way though school. I want to avoid student loan debt, so i commute to bring down the cost (which it does greatly). I don't want to lose out on a fatter sale price on my x-type if i can find a deal on a warrantied vehicle like the mkz. I am really questioning what is the 'right' choice for me. The x-type has 130K on it, and I am concerned that even though I have done the preventative maintanance that it will have major failure such as tranny, tc case etc.

 

Are you saying you're actually spending $2400/yr in ACTUAL repairs now, NOT including maintenance costs? And you fully expect to be paying $3600/yr by next year?

Next, you're doing your MKZ cost calculations incorrectly. You're forgetting it's costing you $11k up front. Why not make the cheat even better by just paying cash for the MKZ and say it's costing you nothing per month?

Every car cost something to own and it has little to do with it's monthly payment. In the end it's (purchase price + interest + maintenance) - resale value / (months owned). THAT is your actual monthly cost. Beware, the numbers get skewed if you trade the car in so you have to know its actual value before the dealer tells you the "facts".

Now, if you tell me you expect the MKZ to be worth exactly $11k in 60 months, then your calculations could be close. But 5 years is a long time. Who's to say what people will be willing to pay for an MKZ then? I mean, we'll all have flying electric cars then, right?

For an 18yr old, I give you a LOT of credit for putting this much thought into your next car. It sounds as though you're already way ahead of the game, I'd hate to see you make the "...but I can make the monthly payments" mistake. Think about it, because there are PLENTY adults (especially politicians) who have no idea what monthly payments actually cost in reality.

Just for the record, I don't think any of us are saying you can't afford the MKZ, for all we know you have more disposable income than any of us. It all comes down to whether the MKZ will cost less over the next 5 years than the Jag even if it needs repairs each year. And that's why I'm questioning the $2400-$3600/yr figure above. Maybe you're paying too much for repairs.

 

C5 pilot, thanks for your great insight. I am evaluating my situation to put myself in the best place I can. I don't party or do anything else, but the one thing i do enjoy is driving a nice vehicle. After putting in 60-65 hours weekly between work and school, I like to reward myself with a nice car (whatever that may be). I printed out all the preventative maintenance service checks and their corresponding costs, and have a very accurate grasp on how much that will cost me. It would be great if I had a magic ball to see how reliable the x-type will be in one year, but who knows? I completely understand what you are saying, and have taken the depreciation into account. The reason I am buying used is 1.) Affordability and 2.) Much depreciation has already occurred (more money in my pocket). The dealerships all have seemed to try to give me the regular ‘pitch’ and I have consistently countered their ‘facts’ with real numbers/figures to back up their inconsistencies. It is somewhat scary to be this young and looking at a more upper scale car. My age seems to be a factor, but at the end of the day every sales man has figured out I am no dummy through this process. If I did move forward with the purchase, I may pay it off. I think I would prefer a smaller loan to help build my credit score since at this point in my life; I always must have a cosigner for anything that involves credit. I certainly want to make a mature decision any way, and truly appreciate the insight. I will not get in the ‘I can afford the monthly payment argument’. I am not an ‘all-show and no-go guy”. I want plenty of $$$ backing my purchase, and stashed/invested away for a rainy day. I know I can afford the car monthly and still save ¾ of what I make while in school, but the Lincolns cost vs. potential jaguar repairs are a tripping point. As I said before I don’t really want a payment since the jag is paid off, but is it worth the potential risk of major repairs that could out-value the car? I guess time will tell. If you have any other points, please let me know. I REALLY appreciate the insight being a younger potential buyer. It’s a lot to consider, and I want to weigh ALL the factors. Thanks! You are all bringing up great points!!!!!

 

The 2009 model year is a good starting point to get the most advantage from depreciation. Most cars depreciate the greatest amount during the first 2 years then start to flatten out. A 2 year old car is also still under the factory warranty with time left for the option of extending it. That doesn't mean you have nothing to worry about because the car could have been in a collision and find out later the dealer can't cover something under warranty because it was damaged by the last owner.

Where depreciation is working hard against newer cars, it's doing very little to your 02. The value of your 02 is based mostly on whether it is in good running condition and you're aware of that. But the truth is, if your 02 dies next year you probably risk the same loss as the depreciation for an 09 vehicle getting 1 year older. I'm assuming your X is worth a few grand and while nobody likes to think they're throwing away a few grand, it's not like buying a newer car is saving you a few grand. You're assuming the X costs will increase to justify your purchase (don't worry, we all do it).

It's not just the $125/mo payment on the 09, you also have to account for the depreciation over that time period. 125x12=$1500... if the MKZ depreciates another grand or so, it just cost you more money than a total loss on the Jag. That's why people are saying to run it into the ground. Every month you put off that loan you just saved yourself more money than just a car payment. On top of that, next year you're looking at getting a 2010 MKZ at the same price as this years 09.

Why do you think I've been "wanting" to sell my X for years now but still drive it? I can't find anything better without taking a bath. Last year I was browsing 07 XK's. This year I'm browsing 08 XK's. My 05 Sport is still going strong and I just put pads and rotors all around and a new battery last summer. Will I feel sorry I just spent that maintenance money on a car I could sell tomorrow if the right deal came around? No, because I like how good brakes keep me alive day to day and the entire cost was less than a car payment. Am I afraid the TC might fail and leave me with a car I need to tow to the dealer and take whatever I can get??? Not really, because I was afraid of that years ago. If it happens now I'm already ahead of the game (like you). I already saved thousands by not buying a newer car. Whatever I saved on new car depreciation and interest will more than pay for a TC for the X. But, like you, I'm keeping my eyes open for my next daily driver.

 

just for a comparison (kinda)
my friend was looking at a MKZ 1.5-2 years ago, it was a 06 i think with 60km on it and it was 13 grand.

 

It sure sounds like you are mature beyond your years and have your priorities straight. To even be thinking about these things at your age is pretty impressive. Even if your ultimate decison doesn't pay off for you the way you want, it would be a short term setback at best and from what you have posted I could see you would use it as a learning experience and long term you will make many more bigger decisions in your life that will pay off. I wish you luck in whatever you decide.

 

Finish college first, believe me it will do you good. If you got $$ and your single buy a Porsche. If not a BMW 5 series M configuration. That's what I would do. I owned a Porsche an 86, what a pisser to drive, fun, fun, fun. I was in my 50's when I got it, and wished I had the $$ to buy one when I was your age. Go for it man