Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 06-25-2007, 01:52 AM   #21
Recycles dryer sheets
Join Date: May 2007
Posts: 107
Interesting ! No one mentioned lease. Good ! I know you were all smart ! The only advantage a lease has is "new car smell" every couple of years !

The other smart thing folks are doing here is long term ownership. If you add in paying cash (or getting some kind of hugely discounted loan for multiple years) you are on your way to maximizing your Total Cost of Ownership.

Last report I saw, the best re-sale value on a 2-3 year old car as the Mini Cooper ! Toyota and Honda models were next. I have not seen any reports on 5+ year old re-sale, but I think you really need to keep a car at least that long !

Being a Ford Retiree, you can guess what brand I have been driving (But perhaps not the next one !). My 10 year old E-150 didn't even need tires for the first 5 or 6 years. Finally did ball joints, shocks and springs when it was 8, with only 1 other major repair in its life time.

BTW, for those who just can't justify a "new" car, the biggest depreciations is in the first 2 - 4 years. Buy after the drop. Calculate buying new tires, brakes, etc. either soon or within the first few years of your ownership.

P.S. I do all of my own maintenance, because I like to, I can and it saves me a couple of bucks !
theoldwizard is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 06-25-2007, 06:19 AM   #22
Thinks s/he gets paid by the post
Join Date: Mar 2006
Location: Houston
Posts: 2,155
Originally Posted by Want2retire View Post
You would expect a beautiful finish on a $3500 car? Whew, you must drive a hard bargain!
Yes, I do A cosmetically well kept vehicle is usually an indication of a mechanically well kept vehicle as well.
Sam is offline   Reply With Quote
Old 06-25-2007, 09:29 AM   #23
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
cute fuzzy bunny's Avatar
Join Date: Dec 2003
Location: Losing my whump
Posts: 22,702
Originally Posted by walkinwood View Post
Sort of okay. I wish it let you tweak some more of the parameters and I have no idea where they get the 'maintenance' numbers.

For example, it quotes $746 in year one maintenance for my pilot. Actual year one maintenance was $50.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
cute fuzzy bunny is offline   Reply With Quote
Old 06-25-2007, 09:46 AM   #24
Thinks s/he gets paid by the post
Jay_Gatsby's Avatar
Join Date: Oct 2004
Posts: 1,719
Originally Posted by theoldwizard View Post
Interesting ! No one mentioned lease. Good ! I know you were all smart ! The only advantage a lease has is "new car smell" every couple of years !
I was in the auto parts store the other day and came across an air freshener that had the "new car smell". It cost 99 cents. Sounds a whole lot cheaper than a car lease.
He had one of those rare smiles with a quality of eternal reassurance in it . . . It faced, or seemed to face, the whole external world for an instant and then concentrated on you with an irresistible prejudice in your favor. -- The Great Gatsby, F. Scott Fitzgerald
Jay_Gatsby is offline   Reply With Quote
Old 06-25-2007, 10:55 AM   #25
Moderator Emeritus
Nords's Avatar
Join Date: Dec 2002
Location: Oahu
Posts: 26,826
Originally Posted by Jay_Gatsby View Post
an air freshener that had the "new car smell".
Mmmmm... outgassing formaldehydes & resins... mmmm....

Co-author (with my daughter) of ďRaising Your Money-Savvy Family For Next Generation Financial Independence.Ē
Author of the book written on "The Military Guide to Financial Independence and Retirement."

I don't spend much time hereó please send a PM.
Nords is offline   Reply With Quote
Old 06-25-2007, 02:19 PM   #26
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
TromboneAl's Avatar
Join Date: Jun 2006
Posts: 12,880
I have to admit that I like that new car smell. I tried one of those air fresheners, but it was nothing like real new car smell. If there was one thing that you'd think they could duplicate with chemicals, it would be that.

Maybe I'll just stop by the dumpster by the carpet store and throw some scraps in the back seat.
TromboneAl is offline   Reply With Quote
Old 06-25-2007, 05:30 PM   #27
Moderator Emeritus
CuppaJoe's Avatar
Join Date: Jun 2007
Location: At The Cafe
Posts: 6,873
Thanks so much for your kind replies. Now I see why Iím not retired yet, I over-estimate costs. Iím still working on my guesstimates and besides purchase (or lease) price, gas and insurance, would include the cost of:

toys for the car, like antenna ball
maintenance supplies like anti-freeze, touch
up paint, oil and filters
parking sticker from City for residents
rental space in a nearby parking garage
($350/mo, optional)
occasional meter and garage parking
parking tickets
speed trap tickets
vandalism: replacement or repair of
whatever was stolen, slashed or ruined
retrieving stolen car from impound lot:
police fee, exorbitant storage fees
occasional car wash
cost of pounding out dents from "guy in van"
occasional replacement of batteries,
tires, etc.
a couple of refresher driving lessons
a couple of new car manuals to learn what
has changed in 37 years since last car
was built (download for free?)
driverís license fee (is this the only
cost that continues without car ownership?)

Itís no wonder that car-share companies are springing up near the $350/mo. parking garages. Iím wary that they might be like fly-by-night gyms that require one-year pre-paid memberships before disappearing mid-membership. On the up-side the car-share option might be good after R as there would be less demand on weekdays.

Thanks again, your posts make me want to get in a car and
drive cross county again
CuppaJoe (AKA Rip Van Winkle)
CuppaJoe is offline   Reply With Quote
Old 06-26-2007, 04:31 PM   #28
Recycles dryer sheets
Join Date: May 2007
Posts: 107
Originally Posted by Nords View Post
Mmmmm... outgassing formaldehydes & resins... mmmm....
Sounds like an ex-auto industry guy !

What most folks don't know is that in addition to passing a "tailpipe test" new cars must a "shed test".

The car "soaked" at about 78 degrees for 24 hours and then placed in a sealed box ("shed") and the "emissions" of the non-running car are measured. The test was originally designed to see how much gasoline vapor was leaking from the tank and fuel system.

What was discovered in the 70's was that the outgasing of vinyls in the interior (and don't forget those cool vinyl roofs back then ) actually release more hydrocarbons then the gasoline vapor seeping from the tank !
theoldwizard is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Attn savy car buyers, help me out wildcat Other topics 64 06-06-2007 12:40 PM
Expenses Vincenzo FIRE and Money 11 05-13-2007 07:48 PM
the compromise car - pictures added lazygood4nothinbum Other topics 23 04-09-2007 10:47 AM
$300/mo car loan to save $100/mo gas? green1 Young Dreamers 16 06-20-2006 10:48 AM
Helping a friend with car purchase fiasco WanderALot FIRE and Money 32 08-02-2005 02:33 PM

» Quick Links

All times are GMT -6. The time now is 05:36 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2022, vBulletin Solutions, Inc.