I think there may also be a kind of hedonisticly adjusted expectation downward. I do see that new cars now, compared to 18 years ago have a lot more safety features and luxury touches even in mainstream models. But my own excitement and interest in all things automotive is very different now. I'm not looking to make any kind of statement with my car, or display my sense of style, success or even manhood. I actually do want a transportation unit, although if I can get it with the features I want and not have to pay for the features I don't I would be happier.
So now, I think I have to choose. Do I want to get an okay car that will work for me and satisfy my overdeveloped sense of frugality. Or do I want to get a car that will be really useful for the majority of the first part of my ER, since if I keep it for 18 years, I will be pretty old before I need to trade it again.
We tend to buy new and keep a long time. I'm not interested in making a statement and am not concerned about my sense of style, etc. It is true that the vehicle my DH recently bought (a Hyundai Veloster) looks great and we really like its style -- but that isn't why we bought it.
One thing that I do think is important in thinking about how long to keep a car is that cars are now at a point where there are some amazing things occurring in terms of increasing safety.
Safety features reduce deaths in crashes between cars and SUVs, study says - Washington Post
A quote from the article:
Ten years ago, people in cars or minivans died at a rate of 44 per million registered vehicles when they collided with SUVs and pickups. The number dropped by nearly two-thirds, to 16, by 2008-2009. When they collided with other cars and minivans that year the rate was 17 per million.
There are two main reasons that deaths have decreased in the lighter vehicles, the report said. Front air bags now are standard, and side air bags are common in vehicles of all weight classes.
And the front end of SUVs have been redesigned t
o lower their bumper level so that they are more compatible with those of cars and minivans. That has reduced the chance that an SUV will ride up over a smaller vehicle in a head-on or rear-end collision.
The advent of
electronic stability control (ESC),
now required on new cars by the federal government, also played a role.
“New designs and technology like side air bags are making it safer for cars, SUVs and pickups to share the road,” said institute chief Joe Nolen, who co-authored the study.
The reality is that if someone is driving a car that is 15 to 20 years old the odds are tremendous that it is a vehicle that is materially less safe than newer cars - even newer inexpensive cars.
It is unfortunate that many safety features first show up in expensive cars and it can take years for them to work there way down to average or less expensive cars.
However, even new inexpensive cars will have some of the newer safety features. And, some of the safety features that tend to be in the mid-range to higher end - blind spot warning, adaptive cruise control, collision avoidance, lane detection warning, side-view assist, adaptive headlights - now will likely filter down to less expensive cars in the next several years.
We gave our son a few years ago our 1999 Lexus RX 300 when it had 180k or so miles on it. It was a great vehicle and lasted to over 200,000 miles. However, its safety features do not compare to newer vehicles. I have a 2012 Ford Explorer which has blind spot warning (one of those things you don't know how helpful it is until you have it...the light will light up well before I would see a vehicle approaching and I don't have to turn my head to see the vehicle), adaptive cruise control, collision warning (a very loud beep with a bright line of lights across the windshield - went off this morning on the freeway when the car in front of my abruptly slammed on the breaks to avoid hitting a large box that had fallen out of truck), rear camera (backing up is infinitely safer than it was before). Now that was more expensive to get those features. However, they are starting to filter downward. DH recently bought a Veloster where MSRP is about half that of the Explorer. It doesn't have most of those features, but it does have the rear back up camera. That is one of those features that is starting to be more and more common on lower end vehicles.
I have no doubt that in 10 years most of these features will be standard on all vehicles and cars will be safer as a result. I do believe in keeping cars a long time, but when there are material and substantial improvements in safety I think it behooves me to take advantage of them.
Also, talking about safety advances over the years from a variety of improvements as well as those upcoming, particularly from technology and crash avoidance.
http://www.iihs.org/presentations/IIHS_2011_5_24.pdf