Certain cars make you feel better after you have driven them. A late-90’s Jaguar XJ8 swathed in Connolly Leather. A late model Mercedes S-Class that’s running properly. And of course a Lexus LS430 which has been known to put some drivers in a near euthanasia state. Then of course there’s the classic American Buick of the 21st Century… the Toyota Camry.
I feel better every time I drive this car. Sure the dashboard is made by Rubbermaid and the interior door panels feel like they belong in an older Kia. But the car ‘works’. I drive it down the street and it’s cloud city USA! The road and the drive become an afterthought as a 2/10’s driving style becomes the de facto standard for the driver/zombie. Anyone can drive this car and for many, it IS their last car. This one was owned by two Grandmas. So should I sell it?
It has 112k on the 4-cylinder and everything needed to be done on it has been taken care of. Sale price? $6500. Possibly settle for six. I have already used it as a long-term rental and the last time out it netted $2000 for about 8000 miles of driving. A lot of H1-B’s absolutely adore a cloud riding car that can gobble up the miles with outstanding reliability and excellent fuel economy. Is the Camry a living legend or a myth when it comes to these things? It doesn’t matter. Reputation always sells. I now offer it as a long-term rental to those who are fiscally conservative and responsible.
But then again… should I? As time goes on I’m realizing that an older Camry and Corolla may be cheaper to own than our two current Honda hybrids. The Civic Hybrid was only saved by the fact that the nearby junkyard didn’t even list the four-figured part I needed. I recently got it for $100. The Insight recently ate it’s CVT. I had to buy a totalled $1800 Insight just for the Honda reman tranny inside of it. That one has only 17k and I should be able to make my money back on all the parts that came with it (most especially the IMA battery). But how many bullets do I need to dodge here? With a lightly driven Camry, you have a known economic proposition.
Speaking of that, if you finance this vehicle you are likely looking at a $10k net return over a 3 year period. $1000 to $1500 down. $60 a week for 36 months. In the world of sub-prime financing Toyota’s and Honda’s command very stiff price premiums. The one I just mentioned wouldn’t even be a stiff one. I know several captive dealerships (those that tote their own note) that would likely put payments in the 14k range.
So should I rent the Camry to an industrious and under-paid visitor from Pakistan or India? Finance it to a status conscious American? Or sell it to another member of the senior citizen brigade? There are no right answers… except one.
Keep. Seriously. Keep. A replacement Camry isn’t as good (see the rage fest yesterday about CR and the below average rating) and with the 4-banger the car is living the legend of utter reliability wrapped in an acceptable package. Keep, keep, keep. Bang for the buck you won’t find anything better.
These are textbook-PERFECT subprime cars for my market…but good luck finding one. Auctions and wholesalers alike want clean-friggin’-book if not more for ones that are decidedly average at best and need a good $300-500 in exterior cosmetic recon alone, not to mention the inevitible Winston Edition with more cigarette burn holes than the moon has craters. Good luck fixing THAT for cheap…
So I guess to answer your question, I’d retail it – finance out of house to someone moving up from their ’95 Sentra or perhaps securing a ‘reliable’ car for their college brat.
Funny you mentioned H1-Bs in this article as I never made the connection before. My boss is one from India and he drives a Camry of this vintage. A quality engineer I work with is a younger Indian H1-B and drives a late-model Camry Hybrid.
My sister-in-law drives a slightly older Camry, either 00 or 01. They have horribly smelly interiors. Sell it, preferably to someone who won’t notice or mind the smell.
I’m biased. I own the previous generation (2000 LE 4-cylinder) and I live 5 miles from TMMK. In all honesty, at 150k and 11 model-years old, it’s better real-word 4-person “transportation” than most newer used cars on the market. No squeaks. No rattles. Quiet, composed at 80mph. Accurate (if numb) steering.
Oh, understand, I hate the car. I hate it for how good and reliable it is, because I’d replace it with something louder, less reliable, faster, more cramped, RWD + MT. However, it’s never faltered, and it’s *incredibly* easy to DIY maintenance on the thing.
I’ve already told my son that this will be his first car. He’s 9.
I’m in the same category – my wife drives a 2001 LE 4 cylinder that won’t die. 140k. Mostly urban driving (urban highway and city pounding by DC streets).
I’ve replaced O2 sensors, another emissions part, brakes, and other regular maintenance (Harold, please tell me that you’ve flushed the transmission – they are somewhat weak in this generation – keep that fluid clean). It does not rattle and it handles better than new after I replaced the springs/struts (which squeaked since it was new evidently) about 6 months ago (slightly stiffer struts – the old ones were toast).
I despise the car – I nicknamed it “the appliance” (which my wife changed to “Gizmo” after our rechargeable can opener as a cute appliance name, natch), but it won’t die. I said she’d have to drive it to 250k before considering selling it but with two car seats in back, don’t think we’re going to make it.
Steve – keep the camry and keep renting it. Flush the tranny fluid and otherwise regular maintenance and you’ll be getting rentals on it for the next 10 years. Then you can sell it, still for decent money.
You hate your Camry? Next time get a Dodge. After almost 170,000 miles and having missed every oil change and service interval by…well…. a long ways; It runs flawlessly. And I LOVE it. Practical. Good-looking (for a minivan). Comfortable. Good handeling. Starts immediately in 15-below winters. And 90-degree+ summers. And it gets 26 MPG at 72 MPH (except when pulling our 3800 lbs trailer–and gear–with 4 bikes on the roof– then it’s like 9MPG at 72 MPH). And it doesn’t stink. Of course I did have to buy tires again. And this year a battery. I’d keep it forever but the 2011 DOHC Caravans look pretty impressive.
I think the h1b set thinks Camry’s are luxe. And compared to India, they are. Of course, there the Honda CR-V is luxe as well. But it would be interesting to parse out:
1. Does the reputation from reliability come from experience (i.e. other h1bs)
2. From consumer reports or other 3rd party sources?
3. It is just what is easily available.
In India anything with more than 3 wheels is a luxe.
“And of course a Lexus LS430 which has been known to put some drivers in a near euthanasia state.”
Did you mean “euphoric” state? Or did I miss some wicked sarcasm here?
Even though that’s the model of Camry that irrevocably p*ssed off my Toyota loving father-in-law (he never told me why), I think I would hang on to it. It’s like the Chevy Impala of four decades ago, the car that can do almost everything a normal person would need it to do. I’m no ‘Yota fan, but I would agree the four banger motors will last forever.
If your primary criteria is repair-free, inexpensive motoring, then definitely keep the Camry! This car was made during the golden years of Japanese vehicles, before decontenting started as well as OBD-II emissions (with the ever-present catalytic converter efficiency codes).
You will easily get another 200K miles out of the Camry with only normal maintenance and fluid changes. Repairs will cost you less than on your current cars for sure (if you need them at all).
The only downside of the Camry is that it’s more likely to get stolen, definitely add a security system of some type.
OOPS – My comments were written thinking this was a 1993 model, not a 2003. Still may be applicable.
Keep it, no question (if your priority is saving money)
With that mileage, you could probably keep it a few more years and the resale value would still be pretty close, even if you put another 50k miles on it. These cars are cheap to keep running, easy to work on, and parts are plentiful.
IMO, if you own a car past 100,000 mile mark, it usually makes sense to just keep going because you’ve already taken the biggest hit.
These cars definitely have strong resale vale (for good reason) Go look up what a 2003 Taurus or Impala is worth with this kind of mileage (less than half)
One of our cars is a 2003 Camry LE we purchased new. It now has 154,000 miles on it.
Other than scheduled maintenance, the only things replaced so far are front brakes (pads only), and the water pump; both at 135,000 miles. The water pump did still worked. It was starting to make a squeaking noise noticeable at idle.
We average slightly more than 30 MPG mixed local & highway, which is more than the EPA highway rating.!!
So it is a definite keeper …
Given the longevity of your front brakes, do you live in an area with very little stop-and-go traffic or drive with an almost hyper-miling technique?
It’s interesting that your front rotors did not need replacing even after 135,000 miles.
Actually, I am one of those really strange drivers who, if he sees a red light ahead, will let up on the gas and coast to the stop light; instead of going full steam ahead and slamming the brakes at the last minute (which now seems to be most people).
I also will many times push the over-drive button on the auto-shift knob which puts the car in third gear. This slows the car quicker without using the brakes.
I do not live in “the city”. City driving to me is suburban (Baltimore/DC) to semi-rural near home.
They did mill the existing brake rotors (other whatever the term is).
As you can judge (153K miles in 7.5 years) the car is driven a lot on the highway.
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Sastexan: 3rd gear on a 4-speed Camry is pretty high. It is hardly much different than an old 3-Speed auto. I doubt it taxes the transmission. I am probably only going 40-50 mph on secondary roads the times I might take it out of OD . It is pretty smooth between 3rd & O.D. There is hardly any noticeable jerk at all, like there is between other gears in normal driving. It is a button (electronic), not a manual shift.
I’ve owned two Corollas in my life that went 200,000 miles without ever replacing (or even servicing) the clutch, so I am probably easy on cars in general.
Now the clutches on the VW’s and Audi’s I have owned are a different story :-)
@Sugarbrie – brake pads are a helluva lot cheaper than a transmission. I don’t know about the Gen5 Camrys (like yours) but the transmission in the Gen3/4 is not the strongest component of the car – hence flush the transmission no more than every 50k, 30k if you are competing with the cabs of DC (like we are) in a lot of your driving or carrying a full load. My theory (completely unfounded) is that the transmission was designed for the V6 and the 4 cylinder struggles under heavy load, stressing the transmission.
If you drive carefully (easy acceleration and braking) you can get a lot of life out of all your drivetrain components, including brakes. I just had the brakes done for the first time on my 05 Durango at 90k miles: front needed pads only (rotors fine) and rear brakes were still 50%.
I pay good money for my cars and don’t like destroying my investment. If you drive like Jack Baruth your mileage may vary.
70% of all Camrys sold in the U.S are in fact 4 cylinder models like this. The only real issues with these cars were front lower control arms (bushings). The Transmission is smooth and safe, drain and fill your Transmission with T-IV every 96,000 kms (60,000 miles) and you’re good to go. With timing chain, irdium plugs and most likely rear drums you have a worry free, low maintenaince car. Driving from Toronto to Florida I filled up 3 times avg. 850 kms/tank. And that’s not letting it get below 1/4. Smooth, reliable and quiet…oh yes and a monster for a trunk. I told my 13 year old daughter she can have other 93 Camry as her first car. 225,000 on it and dead reliable.
Just keep it. Ditch one of the two Hondas. Having read your previous columns, ditch the Honda your wife likes least.
Ive been driving one of these for 7 years now with 140K. Only one minor a/c repair other than normal maintenance. It is boring as hell but also quiet and comfortable. I was told by a mechanic the timing belt is a chain and doesnt have to be replaced. Keep it.
Sell it and buy something that won’t put you to sleep with its soporific driving experience. And something that won’t accelerate on its own.
Yeah maybe some rattlebox made by UAW memebers which require ear plugs, a mouth gaurd and a kidney belt to drive.
You have no idea how this vehicle drives, or the fact you can put 200,000 miles on it and it still drives like new.
Enjoy your bus pass.