Sweet spot for car upgrade

[48Fire]

Maybe when the sweet spot becomes a sour taste in your mouth ? I sold my one owner car this summer for $1,800. 1998 with 107,000 miles. I could have kept it longer, but the tipping points were several issues, such as broken window motor, unreliable air conditioning, and a couple other cosmetic issues. And since we were moving, I didn't want to figure out how to transport it and store it. I am using the $1,800 towards a golf cart purchase.

[Big_Hitter]

Quote:

Originally Posted by 48Fire I am using the $1,800 towards a golf cart purchase.

good call, I guess

golf cart was both the best and worst purchase I've ever made...

what kind are you going to get? check out https://www.golfcartsoutlet.com/

[Gearhead Jim]

The fleet manager for a state police agency wrote that the best time to trade a car is just before the first major repair is needed (new engine or new transmission).


That's easy for him to say, he's got hundreds of similar vehicles being driven in similar usage and he can probably predict, most of the time, when that big repair will be needed.


Our family cars get driven until their condition and repairs become annoying, with Toyotas that's usually something like 15 years (Chicago salt) and 100k+ miles.


We gave up on GM products decades ago except for Corvettes, which you might consider more toy than transportation. But we actually put more miles each year on the 'vette than our two other cars, because we use it for looong road trips. Great fun, but a maintenance PITA.
We've bought 3 new Corvettes in the last 15 years, don't abuse them, and things (usually little but annoying things) break faster than we can fix 'em. We always get the extended warranty, which is usually a poor deal but on Corvettes they have been the best "investment" we ever made.

[lribookend]

I have a 188,789 mile 1999 Jeep Grand Cheroke, and my wife drives a 2006, 104,000 mile Toyota Corolla. Considering cheap taxes, insurance, and relatively minor maintenance of about $1000/car per year, we aren't looking to buy just yet. When I retire in 5 years, I plan to buy a fairly new car to hopefully last for 15 - 20 years or so of short driving.

[Big_Hitter]

Quote:

Originally Posted by Gearhead Jim The fleet manager for a state police agency wrote that the best time to trade a car is just before the first major repair is needed (new engine or new transmission). That's easy for him to say, he's got hundreds of similar vehicles being driven in similar usage and he can probably predict, most of the time, when that big repair will be needed. Our family cars get driven until their condition and repairs become annoying, with Toyotas that's usually something like 15 years (Chicago salt) and 100k+ miles. We gave up on GM products decades ago except for Corvettes, which you might consider more toy than transportation. But we actually put more miles each year on the 'vette than our two other cars, because we use it for looong road trips. Great fun, but a maintenance PITA. We've bought 3 new Corvettes in the last 15 years, don't abuse them, and things (usually little but annoying things) break faster than we can fix 'em. We always get the extended warranty, which is usually a poor deal but on Corvettes they have been the best "investment" we ever made.

vettes have such a high depreciation rate I'm not sure I'd ever buy a new one and I like new cars. You can get a NICE c5 nowadays for a little over 10K

check out this c6 https://boise.craigslist.org/cto/5782062852.html

[enginerd]

In my megacorp, the fleet gets cycled out around 150,000 miles. Some earlier if they have a history of problems, some later if they have high mileage for the age. These are almost all GM products, small trucks, SUVs, full size cars. There isn't an exact formula they use. Sometimes they flush out a whole bunch at once, others a few at a time.

They usually offer the used vehicles to the employees at wholesale cost. So I was getting excited when my truck's number was coming due. Not a single problem for 160,000 miles and in almost perfect condition. I was planning to get it for a steal. But, the same week they called to say my new truck was ordered, then suddenly it started idling rough and not accelerating, check engine light came one, my driver door started sagging and then someone backed into me in the parking lot. The fleet department sold it as-is, and the total of the repairs was more than what the truck was worth. It ended up going to auction. So, the fleet department hit the sweet spot right on the head.

[48Fire]

Quote:

Originally Posted by Big_Hitter good call, I guess golf cart was both the best and worst purchase I've ever made... what kind are you going to get? check out https://www.golfcartsoutlet.com/

Thanks, I am very interested in the Evolution you posted. I have looked at a few used ones on Craigslist, but they have a few problems

Sent from my XT1254 using Early Retirement Forum mobile app

[mamadogmamacat]

The accumulated annoyances factor (small things wrong such as for example I now have to adjust some A/C settings using the nav panel as the steering wheel located controls often do not work.these minor electrical items are often expensive labor wise to chase down so generally not worth fixing) plus if/how often one gets left by the side of the road (not yet with my 13 yr old Prius with 150k) will be the "sweet spot" for me. On the other hand, this is my first Toyota and first truly "foreign" car, as it was built entirely in Japan (newer Prius's may/may not be the case). So. I have some curiosity as to how long I can have it last. I travel very little so far in country by car now that I am retired, so perhaps a rental if i ever feel the need for such a trip and do not want to take a chance with the Prius. I do expect i will replace it with another Prius as I like the 2016 re-design very much compared to other changes since I bought mine new in August 2003.

[nuke_diver]

It's going to be different for everyone. For us we look at how reliable the car has been and if the cost of a repair is such that we will get our money's worth out of it. DW's car is a 91 pathfinder but it has low miles because she drove a Neon for a commute car while she was working and got rid of it when it was having trouble passing smog and was no longer reliable. My car is a 97 Integra GSR with 132K on it. I drive a lot less now since I try to ride my bike for short trips. Last year I put less than 2K on it. That said I just replaced the clutch. At the rate I am driving I expect multiple years of use still so the cost is going to be in the tens of dollars per year likely. It doesn't make sense for me to consider a new car at this point in time since I have no other issues with the car other than general wear issues (tires oil etc)

[ChicagoGal]

It's mostly a comfort level with reliability and when the balance tips (in my head) between paying for repairs and paying for a new car.

My 2004 Toyota Solara convertible has about 80K miles on it now, and I'm starting to look around. Problem is that I love driving a convertible, but Toyota stopped making the Solara (why?!?!?!?!?!?!), and there just don't seem to be many well made, comfortable convertibles at a low-mid price range (I choke at the thought of paying $50K+ for a car!). So I keep driving the one I have.

[IMATERP]

Greetings Everyone,

I havn't formally introduced myself but I'm a FIRE wannabe. Looking at potentially 07/17/2017 as the Magic Date. Anyway, were talking about cars here...

I've got a 2008 Honda Accord with 120,000 miles and I'm debating weather to put more money into it or just cut my losses. You see, two years ago - the engine died at 97,000 miles and Honda negotiated a partial fix for me. They offered to replace the engine with a brand new engine for $3,500 (my portion.) The car was worthless without a running engine but worth around $7,500 - 8K with a running engine. Hence...no brainer...
During the past year, my vehicle has developed a grinding sound when starting in cold weather conditions. It's a known problem but Honda has no fix. Hence, I feel as though I'm damaging the vehicle anytime I turn the key (when I hear the sound.)

So, I am pondering either putting in $700 for the 120K Maint w/Spark plugs or just getting an oil change or two over the next year - and cut my losses.

I am very attached to the Honda but I need to keep the sentimental feelings aside. In fact, I sent a request to our local mechanic requesting a quote for the servicing and if he thinks that Honda might have a fix in place for the "grinding start up" during winter.

[Big_Hitter]

what does CFP stand for?

[IMATERP]

Quote:

Originally Posted by Big_Hitter what does CFP stand for?

The intention was to be Certified Financial Planner but I never ended up going that route. I specialize in finance work with Non for Profits and Govt. Accounting in the State Govt. System. So, in essence, it really means nothing - but the financial knowledge that I have attained through School and work makes me very astute financially.... (55, Paid off home, Free Health Insurance from age 60 on, Monthly pension from age 60 on, etc.)

Michael

[REWahoo]

Quote:

Originally Posted by MichaelaCFP The intention was to be Certified Financial Planner but I never ended up going that route. I specialize in finance work with Non for Profits and Govt. Accounting in the State Govt. System. So, in essence, it really means nothing - but the financial knowledge that I have attained through School and work makes me very astute financially.... (55, Paid off home, Free Health Insurance from age 60 on, Monthly pension from age 60 on, etc.)

So your user name should actually be "MichaelnotaCFP"

[Big_Hitter]

Quote:

Originally Posted by REWahoo So your user name should actually be "MichaelnotaCFP"

I thought it was Can't ****ing Plan - good to hear though

[Jerry1]

I've been thinking about this given the two sweet spot posts. I'm running some numbers and of course, it matters which car you buy, but I am thinking the following might be pretty sweet.

Buy a couple year old car. Say it has under 30,000 miles. Drive said car for five years or about 100,000 miles. Sell the car for what will still be a pretty good price.

For example, seems like I could get a used Camry for $20K. Drive that for 100,000 miles and sell it. It should still fetch $5K to $10K. Using $5K, you would have spent $15K plus repairs. So the cost of the car is $3,000 per year and/or $15 cents per mile. Beyond satisfying the need to drive for a reasonable cost, you don't get too far away from current technology and you are upgrading every 5 years or so.

I tested this out on Autotrader and it worked pretty well for some cars and not at all for others. Some cars depreciate very quickly and severely. For example, one two year car was about $30K but a seven year old car with over 100,000 on it was close to $10K. Still not bad, but the Camry example worked really well.

I'll run some more examples and see what I get. Does/has anyone done this as a rule?

[REWahoo]

Quote:

Originally Posted by Jerry1 I'll run some more examples and see what I get. Does/has anyone done this as a rule?

Haven't done it 'as a rule', but I have done it - and it is a very good strategy provided, as you stated, you choose the right car.

Example: DD#1 & family just purchased from a dealer a one-year old Camry (the SE mid-trim level) for $16K. It is still under factory warranty and as a Certified car has an extended warranty plus two years free maintenance (oil changes and tire rotations). They will put 25,000+ miles per year on the car and keep it for at least four years when it should be worth $5,000 or so, depreciating about $11K.

Not bad.

Edit: FWIW, I'm a big fan of buying one or two year old Certified vehicles. We currently have two - a 2014 Toyota Highlander and a 2015 Buick Regal.

[IMATERP]

Quote:

Originally Posted by REWahoo So your user name should actually be "MichaelnotaCFP"

I resemble that remark....

Anyway, per my previous message regarding the Honda - I've opted to do the Maint. and keep it for 2 more years. I took the opportunity to stop by a local AAA (not AA) auto center and determine if the quote from Honda was reasonable. It was, I just dont keep up with the cost of change.

Michael

[MOSAT]

The DW and I are also contemplating a new car. We have a newer Honda Civic 2012 with 30K miles on it so that one's good. It just rides a bit rough for longer road trips, which we are planning on taking in retirement. The other is a Toyota Camry 1999 with 140K miles on it, great car, rides good , few if any repairs, but they are getting more frequent. The car is just getting long in the tooth for an over the road car. My usual decision point is when the monthly cost of repairs starts to equal or exceed a new car payment. We finance them, with low interest as it is it's not bad. So we are in the market now to replace the Camry. Any suggestions on an "over the road" SUV type car?

[REWahoo]

Quote:

Originally Posted by MOSAT Any suggestions on an "over the road" SUV type car?

Toyota Highlander