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Car cost for low mileage driving?
Old 04-29-2019, 09:26 AM   #1
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Car cost for low mileage driving?

Am having trouble with this question.

We'd like to have a newer automobile for safety and avoidance of high maintenance cost on our older cars.

The problematic issue is that we no longer drive long distances and total year mileage is less than 1500 miles/yr.

Based on driving an average of 4 miles a day, the type or model of car is unimportant... just short ride transportation for 2 persons.

We don't want to buy, but would like to know the best option at the lowest cost, excluding insurance.

We don't have Uber in our area, and in general would prefer to be able to "go" when we want, and be in control of comings and goings.

Would appreciate some kind of numbers before we go to the rental or lease companies.
... The ads are too sneaky...

Hey... Thanks!
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Old 04-29-2019, 12:23 PM   #2
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Cheapest thing is an old car. Even if you had a $1,000 per year in repairs, it's still the cheapest option.

Leases are priced with the expectation you drive 10K miles per year, so that is the rate you will pay, even if you don't drive it.

What would be the cost of taxi's for the year instead ?
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Old 04-29-2019, 12:35 PM   #3
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+1 what Sunset said.

The two older cars that you have IIRC are veritable tanks, and that weight matters a great deal in a collision with a smaller and lighter weight vehicle even though the smaller one may have more recent safety devices.

If I had to bet on vehicles in a collision, a '76 Fleetwood or a new Honda Civic, I'd bet on the people in the Fleetwood coming out better off.
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Old 04-29-2019, 12:55 PM   #4
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+1 what Sunset said.

The two older cars that you have IIRC are veritable tanks, and that weight matters a great deal in a collision with a smaller and lighter weight vehicle even though the smaller one may have more recent safety devices.

If I had to bet on vehicles in a collision, a '76 Fleetwood or a new Honda Civic, I'd bet on the people in the Fleetwood coming out better off.
You'd probably lose that bet:



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Old 04-29-2019, 12:56 PM   #5
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Why not pick up a slightly used Nissan Leaf? Almost no maintenance (electric), suitable range on a charge, great for short hops. Plus, you can find low mileage ones pretty cheap these days.
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Old 04-29-2019, 12:59 PM   #6
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We keep our cars until the repairs get too expensive for how old they are. I have seen leases advertised for 200/month but I think you need to pay money either at the beginning or end of the lease.
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Old 04-29-2019, 01:07 PM   #7
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If you go to lease a new car, you can get the price you see in the ads. The things to look out for are the ultra low mileage leases (obviously not a problem for you) and the down payment. If you have to put down a down payment, divide that by the months and you’ll see how much more the actual cost of the lease is. So, if you see a lease for $299/mo, that’s what you’ll pay. As Sunset noted, leases are based on 10K miles or more. So with your mileage, you’ll be paying a very high amount per mile. 1500 miles is 125 miles per month. Therefore a $299 lease is about $2.40 per mile. That’s expensive driving. Even $125 per month is a dollar per mile.

I’d go to a dealer and discuss your situation. They may be able to lease you a certified pre owned car for something more reasonable. They may even be able to work with you given that they’ll know when you turn it in at lease end there will only be 4,500 more miles on it. The residual value can make a big difference in a leasing situation. It’s an unusual situation but they may be able to meet your needs.

Financially, a good used car would be better, but I understand the desire you have to get a more current car and not have any repair surprises.
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Old 04-29-2019, 01:15 PM   #8
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You'd probably lose that bet:
Maybe.

One that sticks in my mind is the only fatal accident that I handled (shortly after all fatals were handled by specialized traffic officers) in which a 15-year-old lad took his sister's MG for a joyride, lost it on a turn, and hit a Chevy Impala with 6 people in it head on. All the folks in the Chevy walked (or at least limped) away, the kid died at the scene when the steering column crushed his heart.

Granted that was ~40 years ago but it sure made an impression on me and the lesson was that "mass matters".
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Old 04-29-2019, 01:26 PM   #9
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Maybe.

One that sticks in my mind is the only fatal accident that I handled (shortly after all fatals were handled by specialized traffic officers) in which a 15-year-old lad took his sister's MG for a joyride, lost it on a turn, and hit a Chevy Impala with 6 people in it head on. All the folks in the Chevy walked (or at least limped) away, the kid died at the scene when the steering column crushed his heart.

Granted that was ~40 years ago but it sure made an impression on me and the lesson was that "mass matters".
But that would have been 2 old cars, not an old car vs. a newer car. As both of the videos show, the old heavier car provides less protection than the newer and lighter car.
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Old 04-29-2019, 01:49 PM   #10
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Cheapest thing is an old car. Even if you had a $1,000 per year in repairs, it's still the cheapest option.

Leases are priced with the expectation you drive 10K miles per year, so that is the rate you will pay, even if you don't drive it.

What would be the cost of taxi's for the year instead ?
Not really true. You can pick the mileage you want to be included in the lease. They are usually set amounts like 6000, 8000, 12,000 etc.
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Old 04-29-2019, 03:02 PM   #11
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We do about 6000m a year and leasing works for us. You can get a 7500m lease, but we still get 10k. We like nice new luxury cars for the times when we use them. We budget $5k - $6k a year. We feel that is a luxury we have earned and do not want to skimp on any car. YMMV

If a Tesla Model 3 was not such a silly lease cost we would get one of those.
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Old 04-29-2019, 03:15 PM   #12
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Not really true. You can pick the mileage you want to be included in the lease. They are usually set amounts like 6000, 8000, 12,000 etc.
Ok, you may know more as I've never leased a car, but do read the ads.

Still OP's problem is he drives " less than 1500 miles/yr"

So that's 1/4 of the lowest mileage amount you suggested, meaning he is going to overpay per mile for the lease.
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Old 04-29-2019, 03:20 PM   #13
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If I had to bet on vehicles in a collision, a '76 Fleetwood or a new Honda Civic, I'd bet on the people in the Fleetwood coming out better off.
What MusicLover is saying about an old car vs new. Airbags and crumple zones and all that.

And if I had to bet on a car no stranding me somewhere (another aspect of safety), I'll take the Honda by a long shot.
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Old 04-29-2019, 03:33 PM   #14
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Ok, you may know more as I've never leased a car, but do read the ads.

Still OP's problem is he drives " less than 1500 miles/yr"

So that's 1/4 of the lowest mileage amount you suggested, meaning he is going to overpay per mile for the lease.
Not exactly. Part of a lease is the residual value - what the car is worth when you turn it in. Almost always NOT negotiable. But, take same car with mileage well below what the residual was based upon to another dealer (or Carmax, etc). They may well offer more than the lease residual. Pay off the residual and pocket the difference. YMMV!
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Old 04-29-2019, 03:44 PM   #15
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Ok, you may know more as I've never leased a car, but do read the ads.

Still OP's problem is he drives " less than 1500 miles/yr"

So that's 1/4 of the lowest mileage amount you suggested, meaning he is going to overpay per mile for the lease.
I was just correcting your error for others who may considering a lease and I didnít suggest any mileage, just saying mileage in leases are negotiable.
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Old 04-29-2019, 04:18 PM   #16
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I goofed. That was for two years. I deleted my post, but you copied it before I could delete it. So, if you could please delete your quote I'd appreciate it.
Post deleted. But even 1/2 those numbers are way more than we pay
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Old 04-29-2019, 04:20 PM   #17
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Thank you, Cards Fan. You are such a nice person to do that for me. And thank you, REWahoo, for deleting your post too.

I'll try again below.
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Old 04-29-2019, 04:30 PM   #18
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OK, here are my numbers (hopefully correct this time) for my 2009 Venza which I drive 3,000 miles/year. I hope they are correct this time and if not I'll give up, stop posting, and instead sleep off this cold/sinus thing that is kicking my b*tt. I don't drink but if I did, I'd proceed to drink myself into a stupor at this point.

CategoryAnnualmonthly
Gasoline$397.83$33.15
Insurance$1,612.66$134.39
Repairs $0.00$0.00
Registration, safety sticker, oil changes$126.43$10.54
TOTAL$2,136.91$178.07

And yes, car insurance is unusually expensive in New Orleans; I am told that is due to a broken regulatory environment plus a very high accident rate, but who knows? One thing's for sure - - I firmly do not want to get into it because it is highly political and not something in question (everyone down here has equal or worse rates).

Also I don't get my oil changed every three months but more like every eight months, so if you do change your oil every three months then adjust for that.
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Old 04-29-2019, 04:41 PM   #19
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Thanks for the replies...

A little bit more... I love both of my cars... 98 Lincoln Town Car and a 96 Cadillac SLS... Both look great, inside and outside, and both deluxe with all the bells and whistles (except TV).

So here's the problem... I think the Cadillac has a transmission problem that could cost $5000... while the Lincoln's A/C just failed yesterday, and the recharge I tried, didn't work.

Trouble is, between the two cars, they're 42 years old... and the things I could do to fix them five or six years ago, aren't in my bag of tricks anymore.

The book value on each, is $1,000.

As I mentioned, no UBER in the area, and the taxi's are unreliable and the minimum charge is $20, so a trip to Walmart, 1 1/2 miles away, costs $40.

Don't know when we'll be moving from our Villa to the Apartments, but when that happens, we won't need a car.

We've been lucky so far... just one time when jeanie couldn't get the car started, and our insurance took care of that... Help in less than 5 minutes.

I was originally attracted by the lease ads... $189/mo. but that was with $3,000 down, and based on 3 years.... using the manufacturer's list price, and 1/2 that as the 3 year value... Thus a $25,000 car is valued at $30,000, with a three year lease value of $15,000... less $3,000 down... on a car that will have an actual value of about $12,000. Yuk... figure that one out...

So a low mileage used car? yes... i guess.. but with the same potential costs that I have today.
I'd like to be looking at $3,500 to $4,000/yr, less insurance and normal 'maintenance costs.

I'll keep you informed...
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Old 04-29-2019, 04:43 PM   #20
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Personally, I think cars are subjective. Some folk like to drive the cheapest car possible, others (like us) would rather drive a nice car. So if you drive a Bentley or a Beetle the price of the car should not be in the equation. Just the running costs.

We have friends that drive a Bentley, a Tesla, An Audi, a Hyundai, a Toyota and others. We have a new BMW. Honestly all the running costs are somewhat similar, Yes even the Bentley. The insurance is a little higher for some, but the pleasure gained from not driving a crappy car is priceless. Again this is just our opinion, YMMV. With all due respect, We simply cannot comprehend why anyone would want to drive a Sh*t box in their retirement years, simply to save a few bucks, unless they are forced to of course, but that is a different tory.
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