The argument for a new car.

[bruceb58]

Re: The argument for a new car.

Do you think you will be dropping $2000 worth of parts every year for the next 5 years? You can't count tires, tune ups, etc because you have to do that with a new car as well.

 

[Tim Frank]

Re: The argument for a new car.

I love to use Excel. Let me whip up a quick formula.

Assuming 1,000 miles a month and 200 in repairs and $3.25/gal
$162/month fuel
$200 repairs
TCO for current = 362

New
$325 payment
$92 fuel
TCO new = $417/month

Delta: $55


Formula used =1000/35*3.25 (miles driven/MPG*cost of fuel) change the MPG between assumed new and current.

You are clearly a whiz with Excel....not so much with formulae.
You left out depreciation, tires, and consumables....and a few others. I'd guess, making the assumption that if it is new, everything is covered by warranty.
There are a few vehicle manufacturers that cover "JUST ABOUT" everything, but none cover it all.

 

[Bigprairie1]

Re: The argument for a new car.

Here is a take on car costs via the aaa:
Cost of Owning and Operating Vehicle in U.S. Increases Nearly Two Percent According to AAA
.....some interesting numbers in there.....

BP

 

[avenger79]

Re: The argument for a new car.

Do you think you will be dropping $2000 worth of parts every year for the next 5 years? You can't count tires, tune ups, etc because you have to do that with a new car as well.

I certainly hope not. LOL the truck I traded in needed A/C completely done and a new trans those two items alone were nearly 4 grand. maint can get very spendy. the older vehicles were great. I tell my son to keep his '86 truck until the thing just can't get up and move. a tranny goes for $300 in it. I rewired the lights for $10. I love those old things, problem is parts are getting harder to find.

 

[fishrdan]

Re: The argument for a new car.

I love to use Excel. Let me whip up a quick formula.

Assuming 1,000 miles a month and 200 in repairs and $3.25/gal
$162/month fuel
$200 repairs
TCO for current = 362

New
$325 payment
$92 fuel
TCO new = $417/month

Delta: $55


Formula used =1000/35*3.25 (miles driven/MPG*cost of fuel) change the MPG between assumed new and current.

Is that comparing the old car to a new(er) car? If so the higher cost of insurance and registration would also need to be factored in....

Our 10 year old vehicles are around $100 for registration each year, but when new they were close to $500. Full coverage insurance has also dropped as the vehicles have aged, and I could even go to liability which is far less than full coverage. Those 2 things could easily add $100/month to the cost of a new(er) vehicle, probably more...

[EDIT] looks like Bruce beat me too it, day late and dollar short I guess :watermelon:

 

[tommays]

Re: The argument for a new car.

I think i do very well on my base model GM trucks buying then new in 1995/2003 and the current 2010

I have had the GM Mastercard 5% card from the begining and every 7 years it has built up 3500 dollars to kick in on each truck

The 2010 work Truck was pretty fancy as it had the key less entry window and mirror package and cost 18,000 COMPLETE 48 month 0% and i feel its hard to beat 18,000 cost over 7 years

 

[avenger79]

Re: The argument for a new car.

Well one thing is obvious, it really comes down to what sort of deal a guy can find.

got that right, better half decided we were done messing with the F150 time to look. spen all night Fri, and all day Sat looking at new and used. the used ones, every one had something wrong with them. the new ones...well let's say some one must have decided to make an annual profit on every vehicle.

spent today fixing the F150 again. can't be many more things on it that can break. LOL I do need to replace the bed on it if I decide to keep it. Can't haul a can of soda in there without it going through to the road.

also still need to fix a leaking rear axle seal on it. at least it's mobile again.

 

[Bob_VT]

Re: The argument for a new car.

Bubba you can take my advice.....and charge him with you want another grandchild

 

[rivermouse]

Re: The argument for a new car.

The main reason I will never buy a new car here in North Carolina is the way they collect the so called "property tax" on it. Every year when you start to buy your new tag they make sure the property tax is paid right then with cash. If their little book says the thing is worth 25k......................you pay the tax on 25 k. A new car may easily depreciate MORE than what the tax books says but it makes no difference...YOU GOT TO PAY UP Paying an inflated price is one thing but being forced to pay an inflated tax value is a game I will not play.

 

[hungupthespikes]

Re: The argument for a new car.

I differ when it comes to buying new. I buy new with 0 down and 0% x 48/60 months. No repairs for several years, and no money out of the savings. You get exactly what you want and you know exactly what you have down the road.
Then we drive them till they are ready for the junkyard.(13-17yrs.)
When they do get scrapped/traded out it's because of rust not drivability.

Now I'm retired, we will have to go back to cash and maybe used, but finding what I want used is just not going to happen. :blue:
Wife 97 explorer 165k still going strong
me 01 f150, 250k rust has taken it's toll, no complaints, has been a great truck, never a grocery getter.
Just trying to hold out for the 2015 f150 aluminum.

I guess the same can be said for a new vs a used boat. If you know what you want and will keep it, then new is a much better option. imho (1990 Baja 265)
huts

 

[rivermouse]

Re: The argument for a new car.

If you dont know how to buy a used car buying a new one makes it easy and removes the risk of being tricked.

 

[avenger79]

Re: The argument for a new car.

i doubt if it's because we don't know how to buy a used car.

On the other hand, girlfriend finally found a ride she liked. Didn't go new this time. she found a clean mustang for a sweet price. I'll have to catch it up on some of it's maint that hasn't been done but overall nice car. never driven in winter by the looks of it. we'll probably park during the 3 really bad months here as well.

 

[agallant80]

Re: The argument for a new car.

The main reason I will never buy a new car here in North Carolina is the way they collect the so called "property tax" on it. Every year when you start to buy your new tag they make sure the property tax is paid right then with cash. If their little book says the thing is worth 25k......................you pay the tax on 25 k. A new car may easily depreciate MORE than what the tax books says but it makes no difference...YOU GOT TO PAY UP Paying an inflated price is one thing but being forced to pay an inflated tax value is a game I will not play.

Yes you have to pay property tax on your car, the state in 2005 let the county deal with collecting it. In wake county they have always sent me a bill and I have mailed them a check or paid it online no issues.

 

[avenger79]

Re: The argument for a new car.

so is the state tax thing in NC fairly new? I don't remember paying "prop" tax on my vehicles when I lived there. Haven't lived there in over 20 years though so I may have just forgotten. LOL

 

[bruceb58]

Re: The argument for a new car.

so is the state tax thing in NC fairly new? I don't remember paying "prop" tax on my vehicles when I lived there. Haven't lived there in over 20 years though so I may have just forgotten. LOL

California sticks it in with the registration. Our boats get a separate property tax bill.

 

[Tim Frank]

Re: The argument for a new car.

California sticks it in with the registration. Our boats get a separate property tax bill.

so is the state tax thing in NC fairly new? I don't remember paying "prop" tax on my vehicles when I lived there. Haven't lived there in over 20 years though so I may have just forgotten. LOL

C'mon guys....please keep this on the down-low.
If our tax wonks up here twig to this they'll get after it like a rat up a drain pipe. :facepalm:
They've got their hands in our pockets wayyy more than enough already.

 

[Tail_Gunner]

Re: The argument for a new car.

:juggle::juggle::juggle:

 

[avenger79]

Re: The argument for a new car.

California sticks it in with the registration. Our boats get a separate property tax bill.

wow. Don't think I'd like that at all. my sailboat costs $22 every two years. A motor boat would be $37. Only pay sales tax once upon purchasing.

same with cars, tax once than just registration fee that goes by type of vehicle. trucks are a little higher than cars but doesn't matter how old or new. my truck is roughly $120 per year.

 

[bruceb58]

Re: The argument for a new car.

For boats it was only $20 per other yera until this year when they added the exrea $17 Quagga mussel fee. We still get the property tax bill every year.

We also pay sales tax on used boat purchases. Not sure what other states do.

 

[jkust]

Re: The argument for a new car.

Well, a decision was made. The Son-In-Law found a two year old Corolla with 11,xxx miles on the clock at a great price. A private seller that lost her license due to age / vision decided the car wasn't doing her any good sitting in the garage. Buyer and seller both thrilled.

That's great. It is virtually impossible to find a newer used car from a private seller these days. Too many leases or trade in's or they just keep them. I used to avoid dealers like the plague and now there is no choice if you want newer. That Toyota must have a bunch of warranty left on it.