“I need a new car because” blah blah blah thread

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1,212
That's why I keep records on things, in Excel, at least I can calculate the running costs. If were to find myself hitting enough repairs to equal a payment, then it might be a good argument to just buy new--not that I've hit that (well once when I had my VW!) but you get the idea, without quantification one is just waving hands about.

I should add the amount of time spent doing repairs, or looking up things. If I had to cost out my time, that might alter things.
It is hard to reach car payment level with repairs, but the thing that usually finally gets me is the BIG repair and the multiple little repairs that just keep happening. There’s two things going on there...decisions needing to be made and aggravation.

But I keep telling myself...next time you get your car to high mileage and the repairs start adding up, just do them! I literally wrote it down for myself. Do the repair! We’ll see if I listen to myself, but the last time I bought a new truck it cost me $1,500 bucks to register it and then three weeks later my town hit me with a $750 dollar excise tax. That was a lot to swallow...and then of course my insurance also went up.
 
Messages
352
Location
Colorado
on the bright side, you could have gotten out of the driver’s side like a NASCAR driver if you had broken down on 70 ...
I'm almost 74.
It was a struggle to get over the console to get out the passenger door.
One day of that and it was off to the Hyundai dealer.
 
Messages
5,725
Location
the canyons
I think the point is that those people are lying to themselves and others about their excuse/ reasoning for trading in.

These people exist to take the depreciation hit for the savvy 2nd hand buyers, but will do poorly at accumulating wealth. Buying habits like these probably aren't just for cars.

What about people who can buy and sell any vehicle they want, with no effect on their lifestyle or financial future?
 

CKN

Messages
6,357
Location
Utah
What about people who can buy and sell any vehicle they want, with no effect on their lifestyle or financial future?
He (the poster you replied to) quite frankly doesn't know what he is talking about. Anybody who says that buying new cars and not being able to generate wealth is both common to each other, can't afford a new car (most times) and that's just animosity for those of us who can.
 
Messages
11,277
Location
Phoenix
I think the point is that those people are lying to themselves and others about their excuse/ reasoning for trading in.

These people exist to take the depreciation hit for the savvy 2nd hand buyers, but will do poorly at accumulating wealth. Buying habits like these probably aren't just for cars.

I wish I could find these great deals on used cars. It seems vehicles with 100k on them go for about half the price of new...I'll happily take the first half of the depreciation and leave the second half for someone else.
 
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10,560
Location
MA
I wish I could find these great deals on used cars. It seems vehicles with 100k on them go for about half the price of new...I'll happily take the first half of the depreciation and leave the second half for someone else.
You're not shopping the right kinds of car. Get a Mercedes. Got one at 1/3 the price of new and under 50k miles at the time. Listed for 68k got it for a tad over 18k. Now at under 120k miles and had it for over 6 years. Probably still worth around 8k. Probably paid extra to get more options, the more basic models were 15-16k at the time. Car was a little over 5 years old at the time.
 
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10,634
Location
Jupiter, Florida
What about people who can buy and sell any vehicle they want, with no effect on their lifestyle or financial future?
Within reason (no $15M Mclaren F1, for example) I can do that. I choose to operate mostly older vehicles.

I like to say "I'm cheap" but that's not really it. Health reasons prevent my from purchasing what I really like, and superb drivability reasons keep me in my old Jag X-Type with manual transmission. It's revvy little engine, responsive steering and overall pleasant nature (and comfy seats) have me driving it well beyond reason.

I rent cars all the time, very few drive well. Most are unresponsive and annoying.

My 3ea F150's are for work. 2009, 11 + 18. The engines are 5.4, 3.5EB, 2.7EB.
The 5.4 (with a tune) drives the best, (engine is a dream with the tune, hydraulic steering is way better) so I keep it.
VGAlwwJ.jpg
 
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5,975
Location
Baltimore, Maryland, USA
I legitimately don't know how to evaluate a 3 year old car. Yeah, it looks perfect, it should be perfect, but there's a reason someone got out of it. Show me a worn out beater with obvious problems and I'll bite.
Which is why an off lease CPO might be the way to go. At least you know why they got rid of it.
 
Messages
34,153
Location
Southern NJ
I have so many friends that always tell me they need a new car because it will be needing brakes and tires soon etc. Most can’t even afford the car they have. So instead of spending a grand or so they just go out and trade the car in or lease another car. I tell them with proper main you should easily get 200,000 miles out of most cars made today. It’s alway cheaper to repair a car in my opinion.
That's insane. I've never heard of anyone doing that, but I believe it.

If everyone was Dave Ramsey practical life would be boring. You live once. Be reasonable about it. I used to keep my cars at least 5 or more years. Now that I work from home permanently, I don't put many miles on my cars. This puts me in a better position to trade in after 3 years or so. By that time, I'm ready for something else. I could lease, but I like to purchase in the hope of keeping the car long term. Just haven't found one yet I want to keep more than 5 years.

I like to buy new. Have you ever seen how some treat a leased vehicle? Yeah, no thanks. I've watched enough TRD 4Runner videos lately to know never to buy a used one. Same with a sports car. I'll do the break-in. Thanks. lol
 

CKN

Messages
6,357
Location
Utah
Within reason (no $15M Mclaren F1, for example) I can do that. I choose to operate mostly older vehicles.

I like to say "I'm cheap" but that's not really it. Health reasons prevent my from purchasing what I really like, and superb drivability reasons keep me in my old Jag X-Type with manual transmission. It's revvy little engine, responsive steering and overall pleasant nature (and comfy seats) have me driving it well beyond reason.

I rent cars all the time, very few drive well. Most are unresponsive and annoying.

My 3ea F150's are for work. 2009, 11 + 18. The engines are 5.4, 3.5EB, 2.7EB.
The 5.4 (with a tune) drives the best, (engine is a dream with the tune, hydraulic steering is way better) so I keep it.
VGAlwwJ.jpg
But even though you list "health reasons" you still fly and own an airplane. I mean that's the best of a luxury item defined. Unless one has a business and uses it for that.
 

CKN

Messages
6,357
Location
Utah
That's insane. I've never heard of anyone doing that, but I believe it.

If everyone was Dave Ramsey practical life would be boring. You live once. Be reasonable about it. I used to keep my cars at least 5 or more years. Now that I work from home permanently, I don't put many miles on my cars. This puts me in a better position to trade in after 3 years or so. By that time, I'm ready for something else. I could lease, but I like to purchase in the hope of keeping the car long term. Just haven't found one yet I want to keep more than 5 years.

I like to buy new. Have you ever seen how some treat a leased vehicle? Yeah, no thanks. I've watched enough TRD 4Runner videos lately to know never to buy a used one. Same with a sports car. I'll do the break-in. Thanks. lol
I retired at 55 because I DIDN'T LISTEN TO DAVE RAMSEY.
 
Messages
6,526
Location
Los Gatos, CA
I retired at 55 because I DIDN'T LISTEN TO DAVE RAMSEY.
Mr. Ramsey is for people who got into trouble and do not know how to get out.
I imagine he has helped a lotta people, but I disagree with many things he says.
Of course he is far richer than me, plus I have not listened to him in 5 years or more.
 
Messages
6,277
Location
KY
All but a couple of my BMWs were purchased used- including my E24 M6 and current F22 M235i. Both were babied by their prior owners- I doubt either car had seen 100 mph before I bought them and I know neither one had been used at an HPDE. The other used Bimmers were also great- most all of them seeing 140k to 198k before I sold/traded them.
I'll buy new if it's a car I really want- like my Club Sport or MS3), but most of the time I find something used that I like better at or near the cost of the new car.
 
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