Originally Posted By: mpvue
I see threads like this pop up every once in awhile, and it seems they are just there for people to brag that they can afford to pay cash for stuff.
they reality for many people is, they can't afford to have a car break down. used cars are fine, I've spent most of my life with them, but I also remember how much time and money I've spent to keep them running.
I've got an extra $3K of credit card debt now from keeping a used car running; THEN, it got wrecked from hit and run. money GONE.
lots of people budget for a car payment and they don't have to worry about repairs, and in some cases, even tires. I work w/ a guy like that; new car every 2-3 years. no garage time, no repairs, just oil changes, car is in warranty the whole time.
my used cars have caused me WAY more stress and concern than when I've bought new.
currently we're keeping costs down by having ONE car, an '09 Mazda5 we bought new. payment is $200/mo. MUCH better than surprise $500 repairs.
This theory is all fine and respected and understood; however, not everyone has use for a car which tend to be a LOT cheaper then a brand-new 3/4 - 1 ton truck that one might need for work and/or towing purposes.
I have yet to see a 1 ton dodge dually cummins brand-new that could be bought for payments in the $200 area such as that you were able to get with your car....these trucks range in price, brand-new from $35k stripped out to thousands more for the proper equipment, i.e. 4 doors, 4x4, etc.
Our used 01 cummins we bought in 03 for half of the cost of a brand-new one; only repairs we've done in over 140k miles is tires. It's truck payment was half the cost of a new one and allowed us to pay it off quicker, but that does not mean we're looking for a new one....this truck still drives brand-new and looks brand-new and by continuing to keep it, we save over $450/month. This truck only costs us $100/monthly to own, includes gas, insurance, tires, etc.
A brand-new car, model depending, are thousands cheaper...so I can see your point if a car is the only thing one is in need of; still yet, not that many people get a payment of $200 or less on a brand-new car unless they're putting couple thousand dollars down.
I do see your point though, however, we've always gotten lucky with used cars....I've never had enough repairs to even equal the cost of a $200/monthly car payment in the length of a years time..
That said, the vehicles we currently own all came with payments at their initial purchase; I've never had cash in hand for the trucks we currently have.....however because I *did* buy one fairly new and paid out my a$$ for new plates, taxes, insurance, etc. it will stay till the very end. It has 200k miles and has never once had to be towed for leaving us stranded, that particular truck costs me less then $30/month to own.
I average $200 per month for 3 trucks that all have over 140k miles; I'm not doing to bad. Considering only one newer vehicle would cost me twice that much for only the ONE new vehicle.
We do take prestine care of our vehicles and the used ones we purchase are literally taken to 3 different mechanics before we buy them....my expenses on *used* older trucks has always been cheaper then family members who've bought new, whether it be a car, minivan or truck.
