Scotty,
My 66 year old mom drives an Automatic 2011 Ford Fusion SE 4 cyl 2.5L, just about to hit 200,000 miles. It has the original motor, transmission, and the only significant repairs were a new ac compressor, and rack and pinion replacement. Regular maintenance is always performed. With the current used car values should we sell, or with the right maintenance is it likely it will “run til the wheels fall off?”
The problem with selling it now is that you may be able to get a good price for it but you will likewise be paying an inflated price for its replacement.
At the current time, it is better to buy a brand new car instead of a used one because within 2-3 years, people who have purchased a used car in the past months will have negative auto equity. It means they will own the bank more money than the market value of their purchased used cars. So stay away from pre-owned cars for now.
However, if you want to sell her car, now is a good time because you can ask for more. I sold my 2015 Fusion that had 100,000 miles for $12,000 and it has a cracked front bumper. Its market value was $9,000ish in perfect condition in mid 2020.
Don't buy an American car of any brand. The only reliable newer American car left in the market was the Fusion and Ford has discontinued it. Stay away from German and Korean cars as well. Get her a Toyota, Honda, or Mazda.
Does your Mom want a new car?
Stay with the car you have, it drives its good, too may unknown right now. Dont jump into the pool couse others do the same. Especialy that you took care of it. The next car you buy might look good but be junk.
