Car buying/owning strategy/principle/philosophy

[rjundi]

Buy what you like new or used(what you can afford & keep not just tolerate) and drive as long as you can take it. The longer you keep the better the value.

Move close to your job unless you like wasting life commuting and your vehicle costs go down.

 

[IndyIan]

We went with new and plain with the Tracker, its turned out to be a cost effective strategy.
We originally planned to spend $5k or less on the Neon replacement, but the cars in that range are a bit tricky, many of them aren't far from $2k beaters and I figure we should only have one beater in the fleet at a time.
So we spent a bit more the Focus wagon, and I'm glad we did so far. If we can keep the body alive it should go for alot of miles.

 

[Benzadmiral]

Originally Posted By: rjundi
Buy what you like new or used(what you can afford & keep not just tolerate) and drive as long as you can take it. The longer you keep the better the value.

Move close to your job unless you like wasting life commuting and your vehicle costs go down.

This is why I prefer near-luxury cars instead of compact economy cars. If I'm going to drive an hour a day round trip, I want it to be in a car I like or enjoy, even love driving. Within my budget, of course.

(I'd love to move closer to my work. Unfortunately that would blow my budget.)

 

[99Saturn]

It depends - I like the buy new, lowest model + advantageous rebates/sales situation.

That's how we ended up with our Cruze, and why we ended up in the much less popular LS model (and with the MT which is uncommon around here).

Our other car is getting up there in mileage and I've been looking on and off for a used replacement/third car but nothing strikes me as an impressive deal. My main concern is always how much something was beat on and how poor maintenance may have been.

 

[TrevorS]

Originally Posted By: M1Accord
I have a total of 4 cars; 2 were purchased new and 2 were purchased very used. I haven't purchased slightly used vehicle before because I tend to keep cars as long as humanly possible so I tend to not needing "new" cars that often. I am in the market for a car in about 2-4 years, depending on commute arrangement and car condition when the older of the 2 commute vehicles, which was purchased new, turns 200k miles.

My approach now is to buy new but lower trim of reliable brand and model with lowest mainteance prediction and keep for at least 200k miles, which usually means 10 years or longer before making a decision to replace. Our commute is +20k and +25k annually. While some see the benefit of buying slightly used, there isn't much saving when doing so with Honda, Toyota, and Subaru. While slightly used cars are cheaper, the saving is negated by the miles and years of wears and tears already incurred. In addition, people tend to trade in cars too soon tend to not car about maintenance and are likely harsher on cars. I am also going to get a car when the model year change drastically now that I have some car shopping experience under my belt.

What's is your car shopping approach now? Had it worked out? My state requires bogus inspection so buying beaters and drive them to the ground is a risk I took once and lost dearly.



I tend to analyze the car purchasing decision in a similar way.

When I needed to drive more, I purchased a new Lexus. Comfort, reliability, low ownership cost and I went with new because they don't depreciate much.

But if you are in for the long haul, don't deprive yourself of features or options that you want. Sure the upfront cost is high, but you get to enjoy it for a long time and won't have regrets for 10 years.

Once you've decided to buy a car, and sometimes a particular model, most of your costs are fixed and in the same ballpark. Depreciation, insurance, fuel, maintenance all add up to several thousand a year. So spending say $2000 to get the options or trim level you really want for 10+ years is nothing. I use the same logic on tires. The difference between the best and budget tires over 4+ years is $25-$50 a year.

 

[TrevorS]

Originally Posted By: Kestas
I like to buy cars with 30K to 60K. The thought is that if they at least kept up with oil maintenence, neglect wouldn't be that detrimental and one could easily catch up with the proper maintenance.

You're correct in noticing that the value of older models drops like a rock once they change the styling.


When I've purchased used it's been at 25k with significant depreciation. And there's been enough warranty left to take care of expensive repairs. I've also learnt to search for TSBs.

 

[TrevorS]

Originally Posted By: Claud
Originally Posted By: M1Accord
My state requires bogus inspection so buying beaters and drive them to the ground is a risk I took once and lost dearly.


What do you mean by "bogus"?.
Do you mean you have required inspections you don't like that weed out worn out unroadworthy cars?
Or in your state there are authorised shysters that can legally rip you off?.

I've yet to pay more than $1k for a car, I buy old cars that someone no longer wants and keep it going until something major goes wrong, then junk it.
I have owned my current 1995 Nissan for four years now, I paid £200 for it (approx. $320), so far over 22k miles I have replaced a broken headlamp, wiper blades and a few blown bulbs. I have also flushed out the cooling system and replaced the coolant and serviced the car. I will need to replace some tires soon other than that it has cost zip in repairs and I would be happy to fill it with gas and drive it across Europe at five minutes notice. My neighbour bought a new Ford Focus about the same time I bought my Nissan, he also has had no issues with his car, but he paid £15k for his.

Claud.


As much as used car prices are high in the US right now, UK used prices seem very low especially on luxury cars.

 

[supton]

Re: inspection. In my state all the doors have to work, and the windows have to roll up and down (at least the driver's window has to work, been dinged on that, and a coworker got dinged on a passenger door that wouldn't open from the outside). I generally agree with the rest of the inspection (brake linings, structural issues from rust, loose suspension, etc) but at times that pesky emissions issue does come up (check engine light is not allowed to be on, and all readiness codes must be set).

At least in New England finding an old car is problematic on those issues. Usually rust takes them out of the pool, although they can simply wear out--we drive far more miles, and stuff plain wears out. But these days if I see a 20 year old vehicle on the road it's almost a sure bet it's from the south. Especially if I see it being driven on a winters day.

 

[rjundi]

I have moved to used vehicles because my first two I really got sick of them at a certain point. My last two I keep for 9 years each(civic 225,000 miles and WRX 90,000 miles).

When I buy new I feel much more committed as the new car premium is typically expensive to do an early exit. Used enough vehicles it seems to cost very little to change on a whim comparatively to new if you decide you don't like it, something else catches your eye, or your needs change.

 

[pottymouth]

Whenever I've had a job that did not provide me with a vehicle, I preferred to buy estate cars. They are generally well maintained, bone stock, low mileage and well priced. Many are garage kept.

Now, they are not likely to be the hottest cars on the market, but for safe, solid, trouble-free transportation they are hard to beat. Grand Marquis, Taurus, Impala, Saturn, etc. I use my cars for business, often putting 35K miles on per year. If I can buy a car, drive it for 18 months and sell it for what I paid, there really is nothing better. I don't care that much what I drive daily as long as it is safe, comfortable and reliable.

You know the reason the car is for sale and the family is often eager to settle the estate and get it gone. Show up with cash and you can often drive away with a nearly new car for peanuts.

 

[Claud]

Originally Posted By: TrevorS
As much as used car prices are high in the US right now, UK used prices seem very low especially on luxury cars.


Luxury cars have higher maintenance, insurance, and fuel costs than low end cars. Pre bank bail-out lots of high end cars were sold in the UK, now they are up for sale to an impoverished car buying public. Many of these cars had neglected maintenance as the recession bit, consequently they have a tarnished reputation for needing expensive repairs.
Where I work we get a lot of Eastern Europeans turning up with 4-8 year old BMWs, Audis and Mercedes Benz' wanting them fixed for next to nothing, or wanting us to fit their secondhand parts to them. They don't (or won't) accept that because you can buy an upscale car for peanuts you still have to pay upscale repair costs.

Roger.

 

[mormit]

Originally Posted By: Claud
Many of these cars had neglected maintenance as the recession bit, consequently they have a tarnished reputation for needing expensive repairs.
Roger.


Neglected maintenance is a key bit of info there. Any neglected car is going to cost a lot to repair.

 

[ecotourist]

As I like to have 2 cars around the place my general strategy is to buy as reliable a new car as I can find every 7 years. The 14 year old one gets pushed off the end and given away or sold at minimal cost to a relative or friend. They're still pretty good cars at that point.

The advantage of my strategy is I always have one relatively new car (7 years or less) for long trips.

The only disadvantage is my cars have to be suitable for long trips, so no 2 seaters or pocket rockets.

Having said all that I bought a 3 year old used BMW 528i with 1 year of warranty left, for 45% of new list. The double trouble is I like it so well I'm now having trouble parting with it and it's 14 years old and should be getting the push. Maybe I need 3 cars!