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Todd Hunter
Mindsight Moderator
Post Number:
3436
Registered: 02-2003
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 05:52 pm: |   |
So, what's everyone's opinion on buying new cars vs. keeping an old car and paying the repair bill?
Personally, I prefer keeping the old one around. So far, the repair bills have only run around 200-300 bucks, and that's usually only every couple of months or so.
A new car would most likely run that much or more, every month, for the next 6 years or so. Presumably, I wouldn't need to get it fixed for at least 2-3.
Mindsight Moderator
Aston's Blog
Midwestern Writer |
Laurel Johnson
Unity Member
Post Number:
4363
Registered: 01-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 06:27 pm: | |
I thought you got a new car last year? Or did I dream that?
If the car is a '65 mustang, maybe I would keep it and pay repair bills.
If it's a computerized car that brings new meaning to "fix or repair daily" then we think twice. Ron trades his vehicles off before they start needing repair bills -- at about 80,000 miles. We can afford budgeted car payments but not unexpected repair bills that cost a large portion of our monthly income.
Laurel Johnson
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Todd Hunter
Mindsight Moderator
Post Number:
3437
Registered: 02-2003
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 06:35 pm: | |
Yes, against my better judgement, we did get a new one last year. That being said, I still have the old one, and all things considered, should have bought a used one last year...
Thus far, although some of the repair bills have been high, they seem to space themselves apart to where they don't bust the bank (yet).
I can't even remember when my car hit the 80,000 mark. It's running at around 145K now. If I can make it to around 200K, I may have gotten my money's worth.
Mindsight Moderator
Aston's Blog
Midwestern Writer |
Pacwriter
Unity Member
Post Number:
2557
Registered: 04-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 06:50 pm: | |
for years and years I've been the 2-year old buyer. Less than half the price, low milage and I get 200k or more. My payments are never more than 210 a month. Once paid for I go along until the repairs start hitting more than the payments. It's a workable plan  as long as you make a good purchase.
we bought a 2000 Crys Town and country van in 2003. Dealer had it as wholesale price of 5,900 as a DRAW to get customers. It's retail was 10k. Plus they threw in a newspaper coupon of $500 off any new or used vehicle and unknown to the floor sales guy an internet net coupon of another $500 off. I traded a 91 Jeep Laredo got 1800 which was low but I knew the repairs needed would hit hard. so, the sales manager set his price, then I sprang the two coupons and he had to honor them and then I smiled sweetly as I wrote a check for the balance much to the sick green face f the sales manager who was counting on at least finance charges.
when it comes to buying - I shop, compare and look for the edge rather than get caught up in caring about image. Hey, it's for transportation - what I drive is not who I am.
http://www.perrycomer.com
http://throughablindeye.blogspot.com/
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Stephen Lodge
Wandering Member
Post Number:
237
Registered: 06-2004
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 08:34 pm: | |
My wife and I try to buy new every three years. That seems to be about the time it takes for something serious to go wrong.
http://stephenlodge.com
Novels by Stephen Lodge:
"Charley Sunday's Texas Outfit!"
"Nickel-Plated Dream"
"Shadows of Eagles"
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Nancy Mehl
Mindsight Moderator
Post Number:
2551
Registered: 08-2001
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 08:37 pm: | |
We have just about paid off our current car. Now, we're shopping for a PT Cruiser. Haven't decided whether we want used or new. Depends on the car.
Nancy
MINDSIGHT MODERATOR
Look for "In the Dead of Winter" from Barbour Books
March 2007
www.nancymehl.com
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Pacwriter
Unity Member
Post Number:
2559
Registered: 04-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 09:04 pm: | |
we looked at the PT - wife thought they were cute until she sat down "danged thing is like a toy car" she said and walked away. We both have this problem of sitting on the floor to drive and most cars these days put you on the floor. Bad backs are a sure bet to happen when getting in and out. I drive a Ford Ranger and she drives the mini-van both have bucket seats well off the floor.
BTW - how do kids these days manage to drive laying down????
http://www.perrycomer.com
http://throughablindeye.blogspot.com/
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Bill Nelson
Unity Member
Post Number:
2283
Registered: 10-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 09:50 pm: | |
Let's assume I am a stock broker.
I have an investment for you!
I'll guarantee you before you buy that it will lose half its value in eighteen months, and about sixty percent in two years. You will never be able to sell the stock for what you paid for it, a guaranteed loser. Would you buy?
That's what you get with a new car. You don't own it, by the way, the bank or finance company does, unless you were foolish enough to pay cash (see first paragraph). If you do, in fact, finally pay for it, what do your own? A four or five year old used car! Whoopee.
My thought is that the only way to ever get your money out of one, is to drive it until is sighs and dies, sell the body for scrap and start over.
I have a 2004 model vehicle and a 2002 model. I will probably have them for a long, long time.
My ego no longer requires a new car... |
Claudia Turner VanLydegraf
Mindsight Moderator
Post Number:
2846
Registered: 06-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Tuesday, August 29, 2006 - 09:52 pm: | |
I have always driven my cars about 187,000 +- per car, and then traded in or bought another car, used, because I can't afford to take the loss while driving over the curb the first time out the gate. I used to be married to a car dealer, so know that all the things that they tell you about warranties and everything else, such as free gas, etc, all get put right back into the final cost of the car and you pay for it down the road. So, I go for the cheapest of the cars that I look at that suits my needs or brand that I want. Lately, (and for a long time in the past), I have been stuck on Subaru's, they are great with mileage, a bit stylish, dependable for the most part, handle really well in all road conditions, and have plenty of room inside to carry everything that I want or need to carry. This last one, to replace the '99 Subaru Legacy that I got just one year earlier and blew up on Memorial weekend this summer, I got recently is a 2002 OutBack and I love it. My Toyota T100 is still sitting in the driveway and I will probably sell it privately this year. It has 189,000 on it. Before, when I got the T100, I traded in my '87 Pontiac LeMans, with 185,000 on it, and had an '80 Subaru Brat in the driveway for a few years, with 192,000 and I sold it privately.
It seems that the mileage of between 180,000 and 192,000 is where I start feeling antsy about the car and also start wanting a different driving experience, of course, most of what I get is dictated by the cost of the newer vehicle, and how soon that magical mileage number shows up, like whether or not I have had the car for 6-7 years or 13, like my Toyota T100. And if I really like the car, I will put the repairs in for a while before I get another one. However, I live 25 miles from town, so the reliability and safety of any vehicle plays a certain higher factor than just whether or not I just like the drive of it. I usually put about 17,000 miles per year on a vehicle, so that is what I mainly have to think about.
Claudia
MINDSIGHT MODERATOR
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Dennis Collins
Mindsight Moderator
Post Number:
2065
Registered: 06-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 04:04 am: | |
My 2004 Harley Davidson has almost 80,000 miles with no repairs to date and my last five automobiles have all gone at least 250,000 miles with only one major repair in the lot. I change oil every 3000 miles and keep fresh sparkplugs in the engine. I do routine maintenance like shocks and brakes and stuff.
I maintain that the reason my cars live so long is that...
They're American Made!!!
Dennis Collins
Moderator
www.theunrealmccoy.com |
Stephen Lodge
Wandering Member
Post Number:
238
Registered: 06-2004
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 04:59 am: | |
"I'll guarantee you before you buy that it will lose half its value in eighteen months, and about sixty percent in two years. You will never be able to sell the stock for what you paid for it, a guaranteed loser. Would you buy?"
Bill,
You fail to mention the traveling one does while the investment is losing value. After reading some of the distances driven in the above posts, I'd bet these folks are pretty happy with their investment. Consider mileage put on your car as a dividend.
http://stephenlodge.com
Novels by Stephen Lodge:
"Charley Sunday's Texas Outfit!"
"Nickel-Plated Dream"
"Shadows of Eagles"
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Tom Elkins
Wisdom Member
Post Number:
547
Registered: 01-2005
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 07:25 am: | |
Face it...cars are not an investment, they are an expense, pure and simple. Comparing them to a stock investment is apples and oranges. You can't drive your Microsoft stock. I haven't made a car payment for 45 years. When I had a business, the company owned my car (and maintained it). My present car is a '93 Lincoln Town Car which I bought at an auction in '96 and paid cash. It currently has 130K miles; all told I've spent $2-3,000 on repairs and tune-ups. It is, indeed, a pain when it costs $300 to fix an electric window...but it's cheaper than trading every five years or so.
Tom Elkins
NORTH of TEXAS
www.authorsden.com/tomelkins |
Bill Nelson
Unity Member
Post Number:
2284
Registered: 10-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 09:52 am: | |
Bottom lines is, no matter what one's personal choice or philosophy may be,
Americans are not going to go without their cars. Period.
Whatever it takes, is what we will do.
and, Dennis, given your background, it's easy to see where you are coming from, but just because it's not American made, doesn't mean it's not a desirable product.
How many times each day do you consume "something" that was not made in th USA?
That's what world trade is all about. |
Gloria Marlow
Unity Member
Post Number:
1845
Registered: 04-2002
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 10:38 am: | |
We bought a new car once when the kids were little. Right before we paid it off, we traded it in for a minivan that was newer but had some miles on it. The motor blew up within two weeks, we fixed it. Something else went wrong, we fixed it. The transmission went out, we called the finance company and had them repo it. We could not afford to continue to fix and pay for the thing. This all happened within four months of buying it. We made the same mistake last spring. We bought a car and the day after the 30 day warranty expired, the transmission went out.
We buy used because we don't like bills. We just drive them until they die and then get another. However, I will never buy another used vehicle on credit. If I decide I want a payment, I will get a new car.
Gloria
Gloria Davidson Marlow
**The Butterfly Game***Shades of Silence***Flowers for Megan**
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Kevin R. Paglia
Wandering Member
Post Number:
193
Registered: 07-2003
Rating: N/A
Votes: 0 (Vote!) | | Posted on Wednesday, August 30, 2006 - 11:49 am: | |
Wife and I paid off our last new car last December. After looking at the way value drops in them we decided to start a savings account and when the cars die we buy a quality used. For us it is a cash flow plan. If we spend twenty thousand for a new car, then for the next five years we are forced to spend an extra 4-600$ on the car. If we use the savings and buy a $4000 car then we can buy it, be done with it and what we would be forced to spend if we had to finance, we split and put $100-150 in a car replacement/repair fund and the rest goes into retirement/clothes/dates/kids college or what ever else we want.
OF course there is a drawback to this, Tracy and I both love some of the new trucks that are out and she is driving an '88 ford that I suspect may be closing in on it's date with the scrapper. But since it is her commuting car it should be easier to convince her she needs an economical car versus a truck.
niveK |
LA
Unity Member
Post Number:
2216
Registered: 12-2001
Rating: N/A
Votes: 0 (Vote!) | | Posted on Thursday, August 31, 2006 - 05:24 pm: | |
I bought this van in '02 only because it would have cost $1500 to rebuild the tranny in my '87 Caravan...which already had 206,000+ miles on it. (I really loved that van, too...as you could tell by the mileage). We got this one paid off last year, and I will likely hold onto it until it dies. It's a '98; it had 77K miles when we got it. It is now nearing 160K 'cause, again, I drive it everywhere (including to Kansas and back over Independence Day weekend). I've thought about leasing, just for the fact that the lease is typically done about the time something would go crazy, but then, I'd have to monitor my miles, and that's just crap. If I want to travel, I want to be able to travel without worrying about having to pay extra for going over mileage.
I won't buy new for the reasons mentioned above---the loss of value. With any luck...and a better tendency toward remembering regular maintenance...this van will last me at least another 100k miles. (Which, at the rate I'm going...will get me through 2 more graduations, and the 4th kid halfway through high school.
That all said, I go with the "is it worth it and will it last". I would have paid the $1500 to repair the tranny if it hadn't been that I'd only paid $1000 for the Caravan to begin with...and I'd already put $600 into the fuel pump. Even with the rebuild, they wouldn't guarantee it to last much longer simply because of the age and abuse the poor girl had taken. So, though I loved her, I had to let 'er go and get one that wouldn't leave me walking 5 miles to the nearest phone.
Of course...I liked my Dodge Shadow, too. Bought it for $400. Drove it for over a year. I'd say that was worth the $400. There really isn't anything wrong with playing that game, either. Those junkers, sometimes, can last you quite a bit, and save you the price of a car payment. Just 'cause someone doesn't want it anymore doesn't mean it's a piece of poo.
Okay...I've gone rambling. Gonna shut up now. LOL
LA
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