Worst luck with used cars...now what?

[51notout]

There are OEM extended warranties and then there are other companies' extended warranties, some issued by fly by night companies. I've never seen an OEM lifetime extended warranty.

I’ve got two of them. Both Chrysler issued warranties. Another poster said they are not offering them anymore which is disappointing. I got mine in 2008 and 2014. Both from Chrysler dealerships.

Here’s a link to some details.

https://www.chryslerwarrantys.com/lifetime_warranty.cfm

Discontinued the lifetime warranty at the end of 2018. From the blurb Chrysler claimed to be the only company offering such warranties.

 

[OddGuy]

BMW is not really in the business of selling cars; they're in the business of selling lease contracts. Their vehicles are designed to return a wonderful consumer experience for the duration of two lease terms (new off the lot, then as a certified pre-owned to another customer once the first lease is returned.) They're not built for longevity (plastic parts abound in the delicate cooling system) or long-term maintenance (they no longer have dipsticks for checking the oil.) Same with the lion's share of Euro luxury rides.

 

[BeachOrCity]

BMW is not really in the business of selling cars; they're in the business of selling lease contracts. Their vehicles are designed to return a wonderful consumer experience for the duration of two lease terms (new off the lot, then as a certified pre-owned to another customer once the first lease is returned.) They're not built for longevity (plastic parts abound in the delicate cooling system) or long-term maintenance (they no longer have dipsticks for checking the oil.) Same with the lion's share of Euro luxury rides.

No BMW Longevity?
My current BMW is 13 years old 130K miles and still runs great. Little maintenance or major repairs. My husbands last BMW lasted 16 years 230K miles. His one before that was almost 20 years old and also 200K miles or so.

All purchased at about 3 years of age second hand.

But I do agree with BMW's business model of lease ==> CPO.

 

[travelover]

I’ve got two of them. Both Chrysler issued warranties.........

I'm amazed.

 

[aja8888]

BMW is not really in the business of selling cars; they're in the business of selling lease contracts. Their vehicles are designed to return a wonderful consumer experience for the duration of two lease terms (new off the lot, then as a certified pre-owned to another customer once the first lease is returned.) They're not built for longevity (plastic parts abound in the delicate cooling system) or long-term maintenance (they no longer have dipsticks for checking the oil.) Same with the lion's share of Euro luxury rides.

Pretty much all cars have MANY plastic parts anymore. It's all about weight reduction and actually better materials for the purposes. And true, never German cars don't have dipsticks for motor oil checking. That's accomplished with a sensor in the oil pan and digital readout.

I had a 2003 VW that didn't have a dipstick for the auto transmission. That's quite a common feature over the last 15 years in many cars.

 

[chassis]

@airforce1 How is your decision making coming along?

I have operated multiple vehicles beyond, and near 200,000 miles. I DIY approximately 90% of repairs.

The BMW was a bad purchase, sorry to say this. On average, German cars require more maintenance and repair than most brands. This is well established.

I would ditch the Lexus. The large Toyota/SUV platform has below-average reliability from a Toyota point of view.

I don't see where you spelled out your transportation requirements. Do you have 6 kids? Do you have 8 dogs and 4 cats? What do you need a vehicle for?

Buy a 2-3 year old vehicle with factory warranty remaining. Be sure it is a Toyota or Honda. Then operate the vehicle beyond 200,000 miles and do as many of the repairs and maintenance jobs as you can. Keep up the scheduled maintenance religiously.

 

[teetee]

My own experience:
In 2003 I got a 96 Honda Accord at 130k miles for $4k (private owner sale). I put 66k miles on it and donated it in 2017. Repair costs over the years totalled ~$5k. Total ownership cost including insurance, registration rene nowals, gas and maintenance was close to $25k (1,785/yr).

2017 Dec. I got a 2010 Mazda 5 with 97k miles on it for $5.9k (used car dealer). I owned it for 2+ years. In 2020 Feb. the car, which barely broke 100k miles, got totalled by another driver. Their insurance company paid me $6.3k. The total ownership cost was around $9k, so $2,700 for having the mobility for two years, or $1,350/yr.

Right before the COVID shutdown I got a 2015 Mazda 5 at 70k miles for $9.9k from a used car dealer. I don't expect to put more than 3k miles per year for the next 10 years. If I were able to sell it for $2k with 100k miles on it by then, I am expecting a total ownership cost no more than $22k which puts me at max $2.2k/year cost.

Total $50k spent on being able to drive between 2003 and 2030 is a bit more than I expected especially a large portion (~30%) of it is for the insurance ($500/yr) when I drive less than 5k miles a year. Hopefully it will become small enough percentage of my net worth that I won't think about it.

I think it helps to buy cheap and reliable car to begin with. Cheap cars generally have cheap parts for replacement and if it happens to be popular (some Mazda 5 parts are the same as Mazda 3 parts) then the parts can be even cheaper. It goes without saying a reliable car will have lower ownership cost on repairs. I am not familiar with European cars but my impression/bias is they are over engineered and the electronics are not as reliable as Asian cars. I could be wrong but I have decided I am just going to skip them in my future car purchases.