Would you buy a 2001 Volvo x40 with 130,000 miles on it for a teen?

[Tap]

Ds 17 doesn't have a license yet. He rides the bus or his bike everyone he can and ads in other rides as he needs them. He is very independent from us and rarely asks us for rides. That being said, he will be going away to college in a year, so we need to work on a car for him soon. We had planned to buy a newer, more fuel efficient car for ds last year, but he turned us down. Now, our financial picture has changed, so we hadn't even been looking, but this landed in our laps to consider.

 

 

My mil has a friend selling a 2001 Volvo x40 with 130,000 miles on it for $4,000. It is the 4cyl, leather, front/side airbags, moonroof package and it in very good condition. She called to see if we were interested. She is the original owner. It has only had one problem, a fuel pump that needed to be replaced and it was taken care of. She has had the timing belt changed and the water pump as well as all the regular service suggestions done recently and the mechanic said it was good to go until 200,000 miles. We understand that any car can have problems at any time, but are glad to hear that a mechanic couldn't foresee any problems.

 

The fuel mileage is reported in real life to be in the low 20s.

 

 

Dh lost his job recently, but is working on starting up his own insurance agency. While we could easily pay cash for the car, we need to keep our assests free for the business, so we will take out a small loan for the car (ds will put in 1000, we will borrow 3000) instead. We figure the price is low enough that the interest won't be that much on a 2 year loan. Once dh's business starts showing a profit, we will pay off the car. (I also work so we have money coming in the house in the mean while)

 

Would you do it? My main concerns are that Volvos are expensive to fix and that the fuel mileage is fairly low. On the other hand trade in value is around $3800, actual models on car lots are advertised around $6000. We feel that it is a decent deal. Volvos are safe cars and it is sedan so it isn't a little car that can be blown around easily.

Edited August 13, 2011 by Tap, tap, tap

[cloversandlions]

Maybe. Probably. :) But first, I'd do a search on that model and year, and see what the more common problems have been - and how much they'd cost to repair. I'd also want to know how easy it is to do simple things like change the oil and other routine maintenance items - or if they are not simple (or your ds is not inclined), how much it would cost to have the oil changed, especially if it needs to be serviced by Volvo dealers, or if it requires genuine Volvo parts.

[Liza Lee]

I probably would. My ex had a Volvo when we got married and we drove it for about 10 years. I heard several years later that a friend of a friend's child was driving it and it was still going strong.

 

Also, the safety factor is huge for me with a new driver.

[Spryte]

I would think it's a good deal. They are expensive to fix, but if you have a good mechanic it helps. If you are patient, some of the high schools will do repair work on Volvos through their shop classes.

 

Our almost-20 year old drove a *very* old Volvo, and loved it to pieces. It was given to him by DH's sister - it's the car she has passed around from college student to college student, and to anyone in need. Her only stipulation, ever, is that she gets to help choose the next recipient of the "dollar car." It was an '84 Volvo, with 140,000 miles. The car was a tank - very safe. We put about $1200 into initial repairs. After that, it really needed very little work for 2 years. It's now been passed along to a neighbor in need. :)

 

If it's a comfortable price for you, then I think any teen would love it.

[suzf242]

I'd buy it. We always run Volvos and have found them to be very low maintenance, which I believe more than balances out the the cost of gas. As you mentioned, as long as you take care of it, the resale is going to be good, too. The other thing is -- your ds could learn to do a lot of the repairs himself and save a lot of money that way.

 

Take care,

Suzanne

[RahRah]

I would NOT....reasons why:

 

The private party value of a 2001 volvo S40, with 130,000 miles is only $3,525 - so $4,000 is more than it's worth. Secondly, the trade in value at this point, if you're lucky, is around $2,300....so again, the car is over-priced. These values are based on Kelly Blue Book, which tends to be more generous than the NADA Book most dealers use.

 

The other reason I would NOT do it is DH owned a volvo - they're great cars, he loved his (2000 S70 T5).....but....they're very expensive to maintain when the little things start to go wrong - and they do go wrong - even minor things wind up costing a lot because it's a volvo. The car did treat him very well and he kept it until late last year - but it did have things that we had to spend money on, more than I liked spending on a car that old!

[LinRTX]

Well, we just bout a 1999 Volvo s70 turbo for my 17yo (now 18yo). It has about 95,000 miles on it. This replaced her 1999 Volvo s80 that was wrecked. (Not her fault. It was sitting in front of our house when someone spun on the ice and completely pushed the front-in in.)

 

We like Volvos for our new drivers.

 

Linda

[HollyM]

I would think it's a good deal. They are expensive to fix, but if you have a good mechanic it helps.

 

:iagree:

[Harriet Vane]

I know nothing about cars one way or another, so am no help on this purchase specifically.

 

However, can I question why a car needs to be bought? I did not own a car until I got married after graduating college. I found it easy to bike, walk, or use public transportation at school and to/from school (U of I in Champaign-Urbana). When I wanted to go home there was the bus or train or I could carpool.

 

Those that did have a car were under nearly-constant pressure to lend it out or drive people places--it seemed more of a curse on campus than a blessing. Plus parking a car was a royal pain on campus.

 

As an adult, dh and I have been able to work it out to stay a one-car family. Of course that's easier to do in a city--we have great public transportation. However, I have found that there are resources there for someone who is willing to dig a little.

 

Just some thoughts to consider.

[Alenee]

I would NOT....reasons why:

 

The private party value of a 2001 volvo S40, with 130,000 miles is only $3,525 - so $4,000 is more than it's worth. Secondly, the trade in value at this point, if you're lucky, is around $2,300....so again, the car is over-priced. These values are based on Kelly Blue Book, which tends to be more generous than the NADA Book most dealers use.

 

The other reason I would NOT do it is DH owned a volvo - they're great cars, he loved his (2000 S70 T5).....but....they're very expensive to maintain when the little things start to go wrong - and they do go wrong - even minor things wind up costing a lot because it's a volvo. The car did treat him very well and he kept it until late last year - but it did have things that we had to spend money on, more than I liked spending on a car that old!

 

Yep. I'll add this as well. Dh is a mechanic and has found Volvos to be terrible cars to work on. Volvo has made it such that unless you pay a ton of money each year to be a part of their mechanic lists or you're a Volvo dealer, you cannot get much information for repair work. So for instance, you can't take it to just anybody for repair. You're stuck paying higher costs but won't necessarily be getting a better service.

[LidiyaDawn]

Where I come from teenagers drive $400 (or less) beaters. :tongue_smilie:

[sassenach]

Where I come from teenagers drive $400 (or less) beaters. :tongue_smilie:

 

Where I'm from, $400 are non-functional cars.

 

Volvos are beasts. The milage wouldn't scare me. However, after many years of owning high milage European cars, I can tell you that we put in $200 a month in repairs when you average it all out. You really need to anticipate the repair cost, because it's totally inevitable when the mileage is that high. Because we bought our cars cheap(from free-$1800), the repair costs were reasonable.

 

Can your teen wait until you have it all in cash? I don't know how I would feel about financing a car that old.

[bettyandbob]

I had a Volvo many years ago. I loved it. BUT. It got very expensive to maintain. I might by one for my teen just because of the safety standards. That would make me as a mom feel better.

[Lolly]

My eldest drives a 2000 (I think)Volvo. We purchased it from my brother right before she turned 16. It is a great car. If I were you, I would check the blue book value. I was shocked at how little the car was worth, and it was in excellent condition. Brother sold it to us instead of trading it in because its value was so low. It had about 130,00 miles when we bought it. We have had to do a couple of repairs, minor stuff. Our regular mechanic does them for us. I haven't found it to be any more expensive than any other car. (Could just be lucky. We have a great mechanic!) Dd took a driving class in it, and the instructor was really impressed with how it handled. Safety wise, it is top notch. Hers gets around 32 mpg on the interstate and 27 in town. Much better than any of our other vehicles!

[LidiyaDawn]

Where I'm from, $400 are non-functional cars.

 

 

 

A lot of stuff on my first car (and quite a few after that) didn't function either. :laugh:

[gardenmom5]

no.

 

we sold my mother's 1989 volvo with 70K miles and lots of scraps, dents, and dings, (but very reliable and mechanically well maintained) rather than use it as a kids car because it was expensive to maintain compared to the toyota kid car with better milage we already had. (have you ever checked out what cost of repairs/parts are? and the difference in insurance)

 

I'd recommend a much cheaper car - toyota is actually more reliable and cheaper to run.

we talked 1dd into buying a far cheaper but loaded camry xle for far less money than the maroon volvo she'd been looking at for her first car. now she's glad she did, and it is a very nice car.

 

I guess I don't understand why college students "need" a car. my girls went to the other side of the country for college, and didn't have cars. 2dd starts grad school, and currently doens't own her own car. she will be commuting by bus to school, and from there to where she's working.

Edited August 13, 2011 by gardenmom5

[Liza Lee]

Where I come from teenagers drive $400 (or less) beaters. :tongue_smilie:

 

The used car market is weird right now. After the cash for clunkers program, a lot of older cars that would have entered the used market were scrapped. There are not as many beaters as in the past.

[gingersmom]

No.

 

I want my kids to have a new car with the newest safety features.

 

Plus I would not take out a loan to pay for it.

[MamaT]

I have a 2006 x40 that I drive. I have to say that gas mileage, for mine anyway, is more like 16 mpg. That is a mix of highway and city driving. They are, like others said, expensive to maintain.

 

I have a problem with a teenager driving a smaller size car. I know it may just be me, but I worry about them getting into a wreck in a small car. My 17yo drives our hand-me-town Tahoe that we "borrow" from him when we need to pull our camper or pile everyone in one car for vacation.

[mktkcb]

nope. not a chance. Get a 2000 honda civic with about 120,000 with your 4-5 grand instead. Much better gas mileage, and much lower & cheaper maintenance.

[Ria]

Nope...because it is a Volvo. Sounds awful, but my sister has 2, bought used (but under warranty) and is selling them. They are so computerized that IF something goes wrong, it can never be fixed. Volvo replaced the entire engine in my sister's X90 (or whatever that larger station wagon is) last year after a year of repairs....and it's still flashing warning lights galore.

 

Our mechanic said steer clear of Volvos. If someone hits you in one, great. If you are trying to drive one affordably and the car has any issue, forget it.

[justamouse]

Yes, IF you have the right mechanic.

 

Volvos are like benzs in that they have scheduled replacements so that they never break down.

 

We found an old Benz mechanic from Germany who we adored. He fixed them in his garage for fun and while we had our benz and volvos with him they never broke down OR cost us much. He made those cars sing.

[Impish]

Nope.

 

I won't be buying any of my kids a car. IF they want/need it, they can earn it for themselves. I can see helping out with insurance if they're living at home, but the rest will be up to them.

 

This is from someone that's never had her driver's licence, so I know a person can live quite fine without driving.