How often do you trade cars or trucks?

[Ronstar]

I buy new and like to keep vehicles until at least 160k miles. But I'll probably start swapping out DW's car at around 100k now that we're not driving as much.


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[Bamaman]

I bought a diesel pickup new in 2002, and it's only got 125K miles. It my be the last truck I ever have to buy since the engines have a 400K lifespan. My Lexus IS has 100K miles, and it looks and runs like new. Our new Explorer is our people hauler, and we intend to keep it 10 years or more.

I've had over 100 new cars--most of which were company provided. Sure is different when you have to pay for your own transportation.

 

[Dawg52]

About 5 years or so. I could drive them longer, but all I would be doing is saving more for my nephews and niece. I might as well enjoy something new while I can.

 

[Looking4Ward]

Not only do I want to keep a vehicle until it dies, I'll often bring it back to life.

Last example was a 1996 Suburban. Bought it used during the same model year with 8K miles on it. Replaced the transmission with a crate transmission at 165K, then replaced the engine with a crate engine at 225K. Then in my 14th year of ownership someone T-boned me and totaled it. Replaced it with a cheap Kia Spectra and full intentions of seeing it outlast it's 10 year/100,000 mile warranty when a Nissan Titan rear-ended me and totaled it. Used the proceeds to buy a 2011 Kia Sportage which I really liked but it wasn't well suited to my new-found passion for off-roading so I traded it in this year on a new Jeep Wrangler that I fully intend on keeping for many years.

 

[Walt34]

We buy new and keep them until either reliability, parts availability, or repair costs become issues.

Current vehicles are a 2003 GMC full-size 4WD pickup with 94k miles and a 2014 Honda Accord with 28k miles. The Honda tends to be the daily driver unless we're going separate directions for some reason.

 

[samclem]

So, how often do you trade?

"Trade?" What's that? By the time I'm done driving them, they are about 15-20 years old. There's not much "trading' value left in them, which is fine by me. It's way cheaper to get a good brand, take care of it, fix it when needed, and keep driving it as long as practical.

Newer cars do have better safety features, and that's worth considering, but I just don't put enough time behind the wheel to make the safety issue quite as important as when I drove more.

 

[Car-Guy]

my new-found passion for off-roading so I traded it in this year on a new Jeep Wrangler that I fully intend on keeping for many years.

I never really considered a Jeep before, but I recently drove a Grand Cherokee model SRT with full time AWD. Probably not a good choice for any serious off-roading but OMG, what a vehicle on the road.

 

[imoldernu]

98 Lincoln Town Car bought in 2000 - w/20Kmi. now 120K mi. 18 yrs. old.
96 Cadillac bought in 2004 w/30K mi. now 78K mi. 20 yrs. old.

Town car cost $18K, Cadillac $5K Total cost $23K... total repairs for both cars over owned years... $3K, so, excluding, fuel, normal maintenance and insurance, Lucille and Beverly... (nicknames) each cost about $1K per year of ownership.

Both cars are white, w/blue convertible tops and look showroom new. Don't expect to ever buy another car.

 

[Al in Ohio]

I keep all my vehicles a mimimum of 7 years, but aim for and often get close to 10. I take good care of my car and it looks and smells new to me almost to year 5 and 6. I resell them myself and always get KBB resale price with many thanks afterwords. I even got a gift card a year after my last sale the owner was so pleased.

My last two cars were Honda and the two prior to thst were Toyota. My resale values have returned approx. 30-35% of my original purchase price after 7-10 years of use.


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[jjquantz]

Our complete purchase history:

1982 Nissan Sentra bought new, sold in 1994
1986 Dodge Caravan, bought used in 1987, sold in 1997
1994 Geo Metro, bought new in 1994, traded in 2002
1996 Mercury Sable wagon, bought used in 1997, traded in 2002
2002 Hyundai Sonata, bought new 2002, sold in 2011
2002 Hyundai Elantra, bought new 2002, sold in 2015
2010 Hyundai Elantra Touring, bought new 12/31/2009, only has 22,000 miles on it.

So, it looks like we keep the cars we purchase for about 9.5 years, on the average.

There were also 3 cars that we were "gifted" with from various family members. The less said about those disasters, the better.

 

[Music Lover]

I have a 2007 Subaru Impreza that I bought new with 81,000 kms (50k miles) on it. I'll probably keep it another 8-10 years and then treat myself with something new. By then, its trade-in value will negligible.

 

[Fred123]

Currently using '97 Camry (purchased new) with 200k that's still going strong, though I did have to invest in a new radiator and timing belt/water pump recently. The plan is to replace it once we start incurring substantial non-maintenance expenses.


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[hnzw_rui]

I'm quite surprised by how many buy new here. I thought I would be an outlier in that regard and most would be buying used.

 

[Al18]

I buy new every 3-4 years. I drive about 30,000 miles per year commuting to/from work. I put about 70% of the miles on my new car, and 30% of the miles on a 14 year old SUV that has about 200,000 miles on it. I drive the old SUV to reduce the number of miles I put on the new car. I trade in every 3-4 years, before the odometer hits about 75,000 miles, because the resale value drops significantly afterwards.

 

[Lucantes]

I buy new and keep them for a long period, my wife is the same.
Bought my current truck (GMC Yukon) new in 2002 and will get rid of it in 2017 when we retire from overseas (will be 15 years old then!). I do not work on them myself but I do try and keep them nice and maintained.
We will both purchase new vehicles in 2017 and keep them most likely for 10 years (either Yukon or Escalade for me and whatever the wife wants (pink color appears to be her only requirement! )).
We do have some thoughts of also buying a 3rd vehicle also, which will be a lil' older hotrod or something just for fun, figure what is the point of earning it if we don't plan on spending it?.

 

[Fred123]

I'm quite surprised by how many buy new here. I thought I would be an outlier in that regard and most would be buying used.

That's the common wisdom, but when I started looking at this (because I'll soon need a new car!), here's my back of the envelope calculation: say you get a $20K car and keep it for 10 years. Or, equivalently, get a 3 year old car and keep it 7 years. If you want a reliable brand, and you aren't willing to risk buying the car from a private party, I found that you might save about 1/3 by buying the 3 year old car. That's about $2K/yr for the new car and $1.9K/yr for the used car. I realize it's more complicated (time value of the higher money outlay for the new car, higher insurance for new car, offset by higher up front maintenance costs for the used car, peace of mind in knowing the history of the new car etc. etc.) but I figure that my guess is close enough. And the bottom line is that it's only marginally more expensive to get a new car if you keep it for awhile.

 

[CyclingInvestor]

I buy when they die (or go without for awhile). Most of my cars cost $1-3K and last maybe 3-4 years.

My last car was nicer - a $10K 2001 Ford Explorer right after I retired in 2008. It still runs fine.

 

[samclem]

And the bottom line is that it's only marginally more expensive to get a new car if you keep it for awhile.

That's especially true with cars that don't depreciate a lot at first (e.g. Honda, Toyota, etc). A two year old car often isn't a much cheaper than a new one, and if you plan to keep it for 10+ years (not hard to do with these cars) then the cost difference is minor.

 

[Danmar]

When I was younger (say up to 40) all I could afford were old bangers. Left on the side of the road many times. Now that I am retired and can afford it, I buy new, sporty cars (often quite expensive). Switch out after about 6 years or when get tired of a vehicle. Generally drive sporty sedans but also have, convertible in Arizona and SUV's. None of our cars would get to 50,000 miles.

I enjoy driving, so quality and sportiness are important to me. I understand this would not be a universal attitude, and that many people just want to get from A to B.

 

[hnzw_rui]

That's especially true with cars that don't depreciate a lot at first (e.g. Honda, Toyota, etc). A two year old car often isn't a much cheaper than a new one, and if you plan to keep it for 10+ years (not hard to do with these cars) then the cost difference is minor.

That's what I'm finding, too. In the market for an SUV to replace a 96 Accord and the gently used Rav4s and CR-Vs are priced just $2,000 or so less than new models. The ones that are a lot cheaper are much older and have much higher mileage. It just doesn't seem like the price difference is worth it considering the new car still has warranty and will likely last 3+ years or longer. Better safety features, too.

Maybe if I were in the market for a BMW or Lexus, it would be different.

 

[RetiredGypsy]

I've had four cars. A 2001 Mustang with 60k miles I traded in within 6 months for a 1999 Jeep Wrangler with 98k miles. Traded that one in after 6 months for a 2002 diesel Beetle with 90k miles. I kept that one for a year, made it to almost 100,000 miles.

When I got the Beetle, I also got a brand new motorcycle. That one disintegrated in a hit and run. A week later bought a brand new Kawasaki cruiser. When the Beetle was sold, I kept the Kawasaki for 5 years and put 23,000 miles on it. Sold that one and bought a brand new Triumph. I also bought a Civic new. As far as I'm concerned, those are the last two vehicles I plan on buying until they fall apart on me. I've seen Triumphs with over 200,000 miles on them, and Hondas with well over that, so I think I'm good for at least a couple decades now.

 

[RE2Boys]

That's what I'm finding, too. In the market for an SUV to replace a 96 Accord and the gently used Rav4s and CR-Vs are priced just $2,000 or so less than new models. The ones that are a lot cheaper are much older and have much higher mileage. It just doesn't seem like the price difference is worth it considering the new car still has warranty and will likely last 3+ years or longer. Better safety features, too.

Maybe if I were in the market for a BMW or Lexus, it would be different.

Unfortunately, that has been my finding also. I've been monitoring the market in hopes of getting a 1-3 year old small SUV for my wife to replace her 10 year old minivan but I'm finding that the pricing of more trendy vehicles aren't showing much depreciation in the early years......much less than I have found in the past. Seriously considering shopping for new, first time since 1989!!

 

[BBQ-Nut]

My complete 'car' history from 1979:
* First year VW Rabbit that was given to me by my Dad (gee...thanks Dad )
*New: 1985 Toyota SR5 4x4 pickup (used to haul my dirtbike to ride), fantastic truck that got stolen in 1995 at work!
*New: 1995 Toyota SR5 4x4 pickup v6 (a gutless wonder that was a sinkhole of repair costs, that I donated to the local non-profit jazz station)
*Used: 2005 Chevy Colorado pickup that I'll keep for as long as I get 'value' out of it.

Gotta have my truck to haul stuff!

 

[kcowan]

We are low mileage users but like the convenience of a car. So we bought a 3yo high mileage Escape and turned it into a low mileage vehicle in 6 years. Will not sell until it gives us trouble.

Have done the same thing in Mexico.

 

[Dog]

We purchase new cars and maintain them extremely well. Typically hold onto them for around 10-12 years.
We did buy a used BMW 325i convertible with 65k miles. It is our summer fun car and only driven on sunny days.


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