How long do you keep your car ?

[laurence]

We have 105k on the 2002 Grand Cherokee, and we are still in love with it. Perfect sized SUV for a growing family. We hope to get 200k on it and then buy a Honda Odyssey.

I've noticed a lot of comments about "nickle and diming" and "not worth the repairs" i.e. the car is worth less than the mechanic work. I'm not sure I follow the logic. Sure, you could only get a couple grand for the car, but a $2,000 repair bill is nothing compared to the price of a new car. A $400 a month car payment covers a lot of repairs per year! As long as you don't have a lemon and get routine maintenance, you likely won't be able to rationalize the new car expense from a cost perspective.

I somewhat agree with the notion of worrying about breaking down in the 'hood at midnight, but how likely is that, really? Most likely you'll have a flat, and that can happen with any new car just as easily.

 

[FinanceDude]

We have 105k on the 2002 Grand Cherokee, and we are still in love with it. Perfect sized SUV for a growing family. We hope to get 200k on it and then buy a Honda Odyssey.

I've noticed a lot of comments about "nickle and diming" and "not worth the repairs" i.e. the car is worth less than the mechanic work. I'm not sure I follow the logic. Sure, you could only get a couple grand for the car, but a $2,000 repair bill is nothing compared to the price of a new car. A $400 a month car payment covers a lot of repairs per year! As long as you don't have a lemon and get routine maintenance, you likely won't be able to rationalize the new car expense from a cost perspective.

I somewhat agree with the notion of worrying about breaking down in the 'hood at midnight, but how likely is that, really? Most likely you'll have a flat, and that can happen with any new car just as easily.

Well, "not worth the repairs" could definitely come into play if you had a $2000 repair on a $2000 car. After all, the only parts that would be new would be the repaired part. The "other parts" would still be 10 years old or whatever........

 

[canadianteddy]

We're a drive it till it drops family. We had our first car for so long we ended up repainting it 3 times.

Right now we are in the market for a new vehicle and have been visiting a few lots.

Any recommendations?

I always indulge my fancy by sitting in a Cadillac and inhaling it's new car smell. There is nothing that smells quite like a new Cadillac. I refuse to cough up the bucks for one though. We want something that will last at least a decade & is good in snow.

 

[aaronc879]

We're a drive it till it drops family. We had our first car for so long we ended up repainting it 3 times.

Right now we are in the market for a new vehicle and have been visiting a few lots.

Any recommendations?

I always indulge my fancy by sitting in a Cadillac and inhaling it's new car smell. There is nothing that smells quite like a new Cadillac. I refuse to cough up the bucks for one though. We want something that will last at least a decade & is good in snow.

Toyota Rav4 or Subaru Forester.

 

[laurence]

Well, "not worth the repairs" could definitely come into play if you had a $2000 repair on a $2000 car. After all, the only parts that would be new would be the repaired part. The "other parts" would still be 10 years old or whatever........

Sure, so next year you have to outlay another $2000....but what car can you get for $180/month? Now if we mean "new" as in 2-3 year old then the formula starts looking a lot more favorable to me. We'll never buy new again, just one year knocks so much off the price tag.

 

[IBWino]

I've noticed a lot of comments about "nickle and diming" and "not worth the repairs" i.e. the car is worth less than the mechanic work. I'm not sure I follow the logic. Sure, you could only get a couple grand for the car, but a $2,000 repair bill is nothing compared to the price of a new car. A $400 a month car payment covers a lot of repairs per year! As long as you don't have a lemon and get routine maintenance, you likely won't be able to rationalize the new car expense from a cost perspective.

I somewhat agree with the notion of worrying about breaking down in the 'hood at midnight, but how likely is that, really? Most likely you'll have a flat, and that can happen with any new car just as easily.

By "nickel and diming" I mean repairs that I can't perform myself. I don't mind repairs such as water pump or alternator replacement. But, for example, I find electrical system problems to be a major pain. After 16 years, my last vehicle started having problems with the electric door locks, electric windows, and electronic instrumentation. It was still drivable, but it was annoying and the repairs would have been relatively expensive.

 

[FinanceDude]

Sure, so next year you have to outlay another $2000....but what car can you get for $180/month? Now if we mean "new" as in 2-3 year old then the formula starts looking a lot more favorable to me. We'll never buy new again, just one year knocks so much off the price tag.

Always 2-3 years old, always..........

 

[bbbamI]

How long do I usually keep a car?....

....as long as I'm not aggravated with it. When it starts giving me trouble and I find myself calling it a piece of crap...it's gone!

 

[mickeyd]

When I buy a car, I'm in for the long haul. Whichever dies first.

Generally I assume that I will keep the buggy at least 10 years, but it seems to be getting longer as I get older (wiser?). I'm driving a used "95 Camry now that I have driven since 1997 and it's got plenty of miles left before it is ready for the scrap heap.

 

[haha]

I drove a Volvo for 10 years. A VW water-cooled for 16 years. My wife drove a Taurus 8 years or so. I drove an Acura 5 years and it wsa totaled. My current car is 3 years old.

If my portfolio comes back well I don't plan to drive real old cars again. It took a lot of work, and I don't have a private garage where I live now. I see that you can get a 3 year lease on a 2009 Subaru Impreza, an excellent car, for $179/mo. If you don't drive a lot, and don't have kids or pets tearing up the interior, this deal sounds close to unbeatable for what will be a brand new car at purchase, and pretty new when you turn it in.

Ha

 

[Khan]

how many miles were on that car when you finally retired it ?

72000

 

[Lakedog]

Had my last one (Toyota) 16 years. Bought it new in 1992, and it had 252,000 miles when I sold it a few months ago. Someone offered me way more than the book value so I took it ($5,000). I had already purchased the replacement (Honda) and really did not need both. I hope the Honda lasts as long......

 

[Rustic23]

7 to 10 years or 100,000 miles, or when new car bug hits!

 

[laurence]

By "nickel and diming" I mean repairs that I can't perform myself. I don't mind repairs such as water pump or alternator replacement. But, for example, I find electrical system problems to be a major pain. After 16 years, my last vehicle started having problems with the electric door locks, electric windows, and electronic instrumentation. It was still drivable, but it was annoying and the repairs would have been relatively expensive.

That makes sense to me. Being miserable with tricky electrical issues is worth paying money to get rid of. My Jeep is only 7 years old and I suspect it won't make 16, probably closer to 12.

 

[Meadbh]

When I was w*rking, I got a subsidized lease on new car every year as part of my compensation, but now that I'm retired, I plan to keep a car at least 10 years.

I'll bet you often forgot which car you were looking for in the parking lot!

 

[Meadbh]

This is all my Mother's fault . She commented on how I should buy a new car and ever since then it's been breaking down . She probably hurt it's feelings .

 

[ProspectiveBum]

Our rule has been to buy new, and keep the car for 10 years. I love cars, and it's usually all I can do to hold out that long. We'll be due for a new car in about 18 months, but I recently put a fair amount of money into repairs on that car, so I may try to hold out for a couple extra years. It'll be a solid test of my willpower, for sure...

 

[Meadbh]

There is nothing that smells quite like a new Cadillac. I refuse to cough up the bucks for one though. We want something that will last at least a decade & is good in snow.

Just get some of that New Car Smell thingy.

 

[kyounge1956]

We're a drive it till it drops family. We had our first car for so long we ended up repainting it 3 times.(snip)

I never thought of it that way, but drive it till it drops runs in my family too. My mom's car is a 1990 Mazda, my dad's is a '96 or '97 Camry, and I drove my 1980 Toyota Tercel for 27 years (and about a quarter of a million miles) before it gave up the ghost. If I hadn't procrastinated on an oil change a few years back and ruined the original engine, it might still be running today. By that time you couldn't get the engine that was made for the car any more, and the one I did get to replace the original was nowhere near as good. OTOH it had gotten to the point that every time it went into the shop it took them twice as long to find parts for such an old car as it did to do the actual repairs. If I hadn't had a mechanic with loaner cars, I probably wouldn't have put up with that as long as I did.

I donated the car to charity when it finally died, and found out later they got $100 for it, which must have been the scrap value. I plan to drive my current car until it won't go or I can't get parts. At that rate I will get through my whole life with only three or maybe four cars.

 

[unclemick]

Hmmm - my 2006 Chevy Equinox has had zero problems so far - 48,000 miles - puny V6 23mpg.

Everytime a big gas sucking big V8 - Z71 with big wide tires, tricked out in chrome and Tonneau cover passes me out here on the plains - I keep thinking man I am not getting any younger and being retired I could bunch some trips to assuage any MPG/tree hugger guilt.

Usually I get a grip and the wheel spinning, rubber burning vision of youth passes and I go on my way.

BTW - my old 250,000 mile 94 GMC Sonoma 4 banger five speed - WITH rusty fender is still putting around town.

heh heh heh - vehicles are still in the adult toy class - in my mind - a bicycle or scooter with a basket - if I were still flat out frugal.

 

[Meadbh]

I've owned three cars so far:

1. Ford Escort (5 years) sold because of transatlantic move, BUT had design problems and recalls with the venturi carburetor. Fun to drive, but would not have bought another one.

2. Chevy Sprint (9 years) sold because it was just an annoying litle car. The AC broke and it would have been expensive to fix because the original design involved CFCs.

3. Honda Accord (going on 14) tires and battery replaced within the past 2 years, 120,000 miles, has had some bodywork for rust, otherwise a great car. Love it. Am trying to emotionally detach so that when a significant problem arises I will sell it without hesitation. However, if it continues to function well, I'll probably keep it indefinitely. Will not buy a new Accord because they are now too big. Planning on a hybrid: Toyota Prius or Honda Insight. Already have the cost of my next car in a high interest savings account.

 

[Moemg]

My only regret is I did not buy a new car last year before the drop . With what I lost I could have been driving a Porsche boxster and still have money left over for a condo on the beach .

 

[unclemick]

Dang - now this thread has me really going. Pre-Katrina my neighbor drove from Chalmette to Oklahoma to pick up his restored 55 T-Bird which he kept in an air conditioned garage and took out for weekend club events.

So now if being retired - if I had a heated garage - how far will I drive to to pick up that five window hot rod Ford Coupe(or other adult toy) - now that I'm retired.

heh heh heh - take the bus for groceries and save the car for fun. .

 

[73ss454]

I drove a Volvo for 10 years. A VW water-cooled for 16 years. My wife drove a Taurus 8 years or so. I drove an Acura 5 years and it wsa totaled. My current car is 3 years old.

If my portfolio comes back well I don't plan to drive real old cars again. It took a lot of work, and I don't have a private garage where I live now. I see that you can get a 3 year lease on a 2009 Subaru Impreza, an excellent car, for $179/mo. If you don't drive a lot, and don't have kids or pets tearing up the interior, this deal sounds close to unbeatable for what will be a brand new car at purchase, and pretty new when you turn it in.

Ha

I'm not a fan of leasing cars and wouldn't recommend it. Read the fine print on the Subaru lease. I'll bet there's money down to get to that payment plus taxes plus bank fee and anything else they can think of.

No matter what you do the math never works on leases.

 

[Texarkandy]

1994 Dodge Caravan - currently 115,000 miles
2000 Chevy Pickup - currently 85,000 miles

Both purchased new - both still run fine - still approx 20 mpg on the highway - never any major repairs.

(I still don't get all the fuss people have with American cars breaking down? OK - maybe they start rattling sooner & I've had to glue some trim parts back on, but other than a GMC p/u I had once with a lemon tranny, I can't really say I've ever had any big problems.)

The car companies have really been tempting me lately with price cuts, incentives, interest rates, etc - even went to a lot & looked at some - then came home, thought about it, & came back to my senses.

We'll continue to drive 'em both I think till major repairs start to loom.