Keep your vehicles longer?

[bowman316]

Re: Keep your vehicles longer?

Well where do you think that car goes once it's turned in for "cash for clunkers"?

I bet the dealer just takes it to a junkyard. Its not like the cars are just vanishing.
They are down in the junkyard, for you to pick thru to fix yours.

 

[sschefer]

Re: Keep your vehicles longer?

I watch the trade in value like a hawk and try to time my replacement so the trade in value is the same as the payoff on the trade in vehicle. It usually works out to about every three years and about 25,000 miles. I have three vehicles so I can spread the mileage around and usually be where I want to be. I got rid of my Silverado after three years and bought a Tahoe and just last year traded that in on my F 350 SDD. I love this truck so it might stick around longer, I don't know.

 

[86 century]

Re: Keep your vehicles longer?

Depends my old truck has 300k+ on it. Will be with me till the end.

The wife on the other hand gets brand new every three years.

 

[Smuggler's Blues]

Re: Keep your vehicles longer?

Well where do you think that car goes once it's turned in for "cash for clunkers"?

I bet the dealer just takes it to a junkyard. Its not like the cars are just vanishing.
They are down in the junkyard, for you to pick thru to fix yours.

No, all of the vehicles that were taken in during the "Cash for clunkers" had to be crushed. No used parts from them. The CARS program mandates that clunkers be crushed or shredded within 180 days, whether all usable parts have been salvaged or not..

 

[JaSla74]

Re: Keep your vehicles longer?

Not only do I keep them longer (previous 4runner 9 years, Avalon 11 years), but the last three vehicles I've purchased have had around, or over 100,000 on the clock. My 01 Wrangler has 160K & the wife's 04 Pilot has 125k. I do all the maintenance myself (& enjoy it).

Prior to kids I thought nothing of having a car payment. Now they're just not worth it.

 

[bruceb58]

Re: Keep your vehicles longer?

I agree. Having a car payment is stupid. What is even worse is paying it off and using the equity in the car to put a down payment on another and getting another car payment.

 

[642mx]

Re: Keep your vehicles longer?

I trade when we get bored... The shortest I've kept one was our 2010 Lexus IS250, we had it 7 months and traded it for a 2011 Mustang GT (had to have that new 5.0!!). The longest I've kept one is my 08 Tundra... I bought it real late in 08, it's only got 27k on it, but its about time to trade it I think.

I agree with you guys that don't finance. We consider our vehicles "toys" and we don't borrow money for toys in our house. I may not have the best stuff, but I've got a drawer full of titles!

 

[veritas honus]

Re: Keep your vehicles longer?

My truck(in my signature) has just shy of 145,000 miles. I bought it in '04 with just shy of 45,000 miles. Although I really want a 1 Ton HD diesel 4X4 with Off Road Package, I have no plans of getting rid of this one. If I were to get the truck I really want, though, I'd most likely trade or sell this one for a vehicle with really great fuel economy.

In the mid nineties, while still in the military, I had a beat up old Subaru DL sedan. My girlfriend at the time(whom is now my wife), never even wanted to get in to it.:redface: ...But that baby got 42MPG on the highway, and around thirty in the city(the car, not my girlfriend/wife). It had well over 200,000 miles on it(again, the car, not my girlfriend/wife).

 

[bowman316]

Re: Keep your vehicles longer?

Yea, you don't want a high mileage girlfriend, I tired that once, she didn't last 3 months.
lol

 

[gus-gus]

Re: Keep your vehicles longer?

I agree. Having a car payment is stupid. What is even worse is paying it off and using the equity in the car to put a down payment on another and getting another car payment.

Maybe you should land that space ship, captain.
The people who can avoid payments are the 1 or 2% the government seem hell bent to take more from. 98% of us wouldn't own a newer vehicle without financing.
So with all due respect, calling me and the other working stiffs in America stupid is a below the belt insult.

 

[bowman316]

Re: Keep your vehicles longer?

any middle class person can get rid of car payments.
yes, you need to drive an older car at first.
but you save the money you make from not having a car payment, to eventually buy a nicer car in cash.
so you don't give money to the bank.

 

[bruceb58]

Re: Keep your vehicles longer?

Maybe you should land that space ship, captain.
The people who can avoid payments are the 1 or 2% the government seem hell bent to take more from. 98% of us wouldn't own a newer vehicle without financing.
So with all due respect, calling me and the other working stiffs in America stupid is a below the belt insult.

I was straight out of college driving a 10 year old car and continued driving it until I had enough saved up to afford to buy a newer one. I can guarantee you I am was not in the top 2% then or now.

Sounds like most in this thread are the same way as well.

By the way, saying someone does a stupid thing is not calling them stupid. I probably do a few stupid things every day.

 

[gus-gus]

Re: Keep your vehicles longer?

I find it really interesting how people say "I did it, so you can too," with out caring or knowing anything about them.
I still think is is offensive to name the conditions that many people just happen to be struggling through as stupid.

Which incidentally could be through no fault of their own. In other words their choices could have been pre-determined. I have found myself in those places in the past, beginning to dig out now. but I am digging out. I owe money on one vehicle and have 4 others which I paid cash for.

 

[ezmobee]

Re: Keep your vehicles longer?

I agree gus-gus. Also, the 1.8% financing I have sure doesn't feel "stupid". And you know what else is "stupid"? Owning a boat.

 

[bruceb58]

Re: Keep your vehicles longer?

I find it really interesting how people say "I did it, so you can too," with out caring or knowing anything about them.
I still think is is offensive to name the conditions that many people just happen to be struggling through as stupid.

Which incidentally could be through no fault of their own. In other words their choices could have been pre-determined. I have found myself in those places in the past, beginning to dig out now. but I am digging out. I owe money on one vehicle and have 4 others which I paid cash for.

I was mainly referring to the person who buys a car on credit and once that car gets paid sells that car or trades it in on another and finances the rest. Basically, always having a car payment.

My brother who is 49, lives at home with my parents, cleans pools and teaches tennis for a living. Has no money in his bank account. He has had 3 brand new cars in the last 6 years. Seems like a pretty stupid thing to me would you agree?

If one is struggling and buys a new car on credit, wouldn't you think that is a stupid thing to do? I see it all the time. I have friends that lived paycheck to paycheck and had pretty big balances on their credt cards yet drove brand new cars. They wanted to keep up with the Jones.

An even more stupid thing to do...have a boat payment.

Hey its my opinion and not directed at anyone person. I don't live in your shoes and you get to make your own choices. Not telling you what to do with your own money.

Right now I am looking at buying a $5K bicycle. Most people would call that pretty stupid too!

 

[jkust]

Re: Keep your vehicles longer?

Regardless of how much money I earn and have, I keep my vehicles until they become embarrasing or I feel I have gambeled enough owning them for so long. I just replaced my 2000 minivan (which still sits in my driveway) because since new it has needed nothing except a waterpump. With such high miles, I felt that it lived its life and served me more than well and also the crash test ratings show zero survivability for the driver in an offset crash. A few of the accessories started acting up as well. I then was able to replace it with a three year old, v8, 4x4, SUV second tow vehicle. The bottom line here is my conservative values were there when I was poor and never went away when I wasn't. Outside influences such as the economy don't register on my radar where car ownership longevity is concerned. I will also mention I pay cash for everything so no credit ever.

 

[bruceb58]

Re: Keep your vehicles longer?

The low interest auto loans is the car company's strategy to get you in the door. Way back when they started these programs, you could get a rebate or the low interest rate. Most people liked the low car payment so they would forgo the lower price on the vehicle in order to lower the payment. The car makers ended up not offering the choice anymore and just offered the low interest. The car makers are making their money one way or another either by offering a low interest rate or lowering the price of the car. Its all built into the price.

Still MANY thousands of dollars ahead buying a one or two year old car and paying a higher interest rate than buying a new car with a teaser rate.

 

[jkust]

Re: Keep your vehicles longer?

Still MANY thousands of dollars ahead buying a one or two year old car and paying a higher interest rate than buying a new car with a teaser rate.

When I bought my replacement suv mentioned above, I wanted to be able to shop before say the tranny went out and I was forced to make a snap decision. It took me over a month to find a nice version of the suv I wanted. My point is, I can't believe how beat up used cars are even 2 or three years old and how expensive they are considering their condition. After spending a lot of time driving around test driving suv's and being lied to by dealerships (since there are almost no private party cars anylonger for sale), my view of buying new but only with cash could be swayed. Finding the truck was more difficult than finding my boat and that says a lot. I ended up buying from Ohio and having it shipped to me in MN since used cars in Ohio cost upwards to 40% less than the exact same vehicle in MN. Two very different economies given our total unemployment is just over 5% and lower for college educated folks. It's like there is no recessionary unemployment here.

 

[ezmobee]

Re: Keep your vehicles longer?

The low interest auto loans is the car company's strategy to get you in the door. Way back when they started these programs, you could get a rebate or the low interest rate. Most people liked the low car payment so they would forgo the lower price on the vehicle in order to lower the payment. The car makers ended up not offering the choice anymore and just offered the low interest. The car makers are making their money one way or another either by offering a low interest rate or lowering the price of the car. Its all built into the price.

Mine is actually from a BANK. I still got all the rebates. I have no idea how that was possible. It wouldn't seem to me that the bank could hardly service the loan for 1.8%.

I agree with you on paper about used vehicles. Unfortunately, we had two pre-owned vehicles bought with low miles (30-35k) that were total lemons. We had a third that had 40k on it which had pretty much the entire front end on it replaced under warranty. It is a tremendous inconvenience for us to have our main commuting vehicle in the shop. We've had much better luck with more used vehicles. I've had a couple of real gems bought with 60-75k on them and that's what we do for our second vehicle. The main commuter car though, which gets 30k a year piled on it, is probably going to remain a new one.

 

[gus-gus]

Re: Keep your vehicles longer?

Mine is actually from a BANK. I still got all the rebates. I have no idea how that was possible. It wouldn't seem to me that the bank could hardly service the loan for 1.8%.

I agree with you on paper about used vehicles. Unfortunately, we had two pre-owned vehicles bought with low miles (30-35k) that were total lemons. We had a third that had 40k on it which had pretty much the entire front end on it replaced under warranty. It is a tremendous inconvenience for us to have our main commuting vehicle in the shop. We've had much better luck with more used vehicles. I've had a couple of real gems bought with 60-75k on them and that's what we do for our second vehicle. The main commuter car though, which gets 30k a year piled on it, is probably going to remain a new one.

Interesting concept, which has a lot to be said for truth. My last truck was a 35,000 miler and thinking like you I bought a full maintenance contract till 100,000. It replaced the transmission, all driveshafts, front drive couplers, and complete rebuilt the front suspension and control arms.
I still have it and it recently passed 100,000. It's a gamble, but I'm keeping it.
My best vehicles have been high mileage like yours, or less than 10,000.