My fleet is now old…..

[svtrit]

My allergy of debt keeps me from buying new cars. I used to be the kind of guy who never had to work on his cars because they were newish.

Now:

The new oil pump just installed in my Jeep caused my rear main seal to cry Uncle. It’s so bad I can’t drive it. Parked for now. 251k miles

My newly acquired Camry almost died at the stoplight yesterday with the AC on, which barely works. Runs great in neutral or with the AC off. Somethings up there. 228k miles

My Daughters New Beetle is in need of an engine. Looking into that. It isn’t the bugs fault, it was new driver error. However, it doesn’t like to move right away in drive and has a really harsh 2 to 3 shift. Manually shifts just fine. 106k miles

The only vehicle running perfectly is our 2014 Town and Country, and I swear I felt the transmisssion shudder this past weekend. 90k miles.

I am keeping myself in business working on my own cars…..

But I hate debt.

 

[nwjones18]

I hear ya. Up to 2012 my main vehicle was my 88 F-150 and while it has always been reliable it is quite old. With little kids and a lack of free time a loan payment for me is just a monthly cost of have something to drive that is for sure going to work.. I say that as I think my truck has a build date of nov 2015 and is about to be 6 years old.. haha

 

[JoelB]

I agree with the hating debt sentiment. But I also become really stressed when I can't trust my vehicle. I'd rather have a small loan than a car that may not start, but that's just me.

My wife took a small loan on her spark and just paid it off after about 4 months. Really just gave her time to pad her savings to a point she was comfortable. I paid cash for my Versa. But we have no kids which helps on the money front!

 

[svtrit]

I agree with the hating debt sentiment. But I also become really stressed when I can't trust my vehicle. I'd rather have a small loan than a car that may not start, but that's just me.

My wife took a small loan on her spark and just paid it off after about 4 months. Really just gave her time to pad her savings to a point she was comfortable. I paid cash for my Versa. But we have no kids which helps on the money front!

Before finding the Camry (one owner, all highway miles, all maintenance done at our local Toyota dealer), I almost broke down and got a loan for a brand new car, as the used cars on the lot are all junk now, and private sellers "know what they got."

Your point on stress has me thinking I may want to do something once the car bubble bursts. I am really sick of working on cars right now....every weekend it seems, which is why I have parked the Jeep until I feel like working on cars again.

When parts start equaling a monthly payment...

 

[Snagglefoot]

It just not the money. While I am not a racer, I’ve always working on cars as a hobby. When the kids were small I purchased new cars, but kept them a long time. My record is keeping my 2000 Ford Taurus for 20 years. My current main vehicle is my 2008 Burb which I purchased new for $48,000 cash. I still have it and yes, I’ve worked on it a lot. It gives me a kick to know I have parts on it that are newer than a 2016 Suburban. The main thing is to catch things and fix them fast, like a power steering pump that leaked oil when it was cold, a water pump that made a bit of noise when turning the pulley ( on my Taurus), or an alternator that caused the voltmeter to flicker.

 

[JeffKeryk]

Instead of taking out car loans, I try and save up to buy a vehicle; basically paying myself the interest.
That way, I go in with a big down or maybe even cash. I hate car loans!
Also, look for factory money, as it tends to be be cheaper than bank money.
Good luck.

 

[BrianF]

Mine are old and getting old as well. 1993 C1500, 2005 Grand Caravan, 2006 Trailblazer and 2017 Ram 3500.

All have needed various amounts of work. I do not want to buy new again or for a long time. I keep an eye out for used at a decent price and hope I can keep on top of the maintenance......

Whats funny is that my C1500 is probably the most reliable vehicle I got.

 

[ecotourist]

I recently bought a new car preemptively to avoid what's happening to you svtrit. Both of our cars were getting old and with age comes a certain degree of unreliability.

We need 2 cars. At the moment we have 3. We don't need 3 cars but I hate to sell the BMW (fairly reliable and the nicest car I've ever owned, but it's 21 years old), or the Honda (a very good, very reliable car, 14 years old).

We're allergic to debt as well. We've been fortunate enough to be able to pay cash for each of our cars since 1978 (when we made 8 payments on the ill fated Fiesta, primarily to build our credit ratings). We could have paid for it with cash in the bank but that would have wiped out our savings - which isn't a good thing either.

 

[CKN]

I don't get the posts like the OP's. Vehicles cost money-all his vehicles are in bad shape with high miles. Either cough up the cash from savings or get a loan. It doesn't seem you are saving the money you think you are-since your "new to you" vehicles need work-just after you acquire them.

 

[RhondaHonda]

I’m with @JeffKeryk I hate debt as well and feel like if you don’t have a car payment you should try to make a payment to yourself each month so that you have a huge down payment or can pay outright for the car when it’s time for the replacement. Obviously this isn’t always feasible but it’s a good habit to have. Driving vehicles into the ground is probably the best financially but I like to switch it up and having a paid for vehicle that still has a lot of value really lessens the sting when I get something else. Plus I’m done lying on my back in the garage trying to fix something on a car I need tomorrow morning for work.

 

[tbm5690]

I've tried to shoot the middle ground myself...never had a car payment but buy new enough to not have to worry about reliability, and I've trended 5-6 years for keeping a vehicle before selling and applying proceeds plus cash for the replacement. I also buy vehicles that I know are going to be reliable to the best of my knowledge based on research.

 

[Astro14]

Old

High mileage

Worn out

These are not the same things.

My wife’s Volvo XC is old, nearly 20 years, and has over 270,000 miles on it. Relatively high mileage. No leaks, no issues, no apologies. It runs perfectly, everything works, paint and interior are good. It is driven daily.

And…Old? You want old? Try 89 years old…a challenge to get parts, and keep in running condition.

 

[svtrit]

I don't get the posts like the OP's. Vehicles cost money-all his vehicles are in bad shape with high miles. Either cough up the cash from savings or get a loan. It doesn't seem you are saving the money you think you are-since your "new to you" vehicles need work-just after you acquire them.

That is the crossroad I’m at.....

 

[ChrisMU]

I’m also allergic to debt, with an aging fleet. It wasn’t until I reached my 30’s that I paid more than $1,000 for a vehicle.

My daily is a 2000 Lincoln Town Car, CL purchased for $5200 in December 2016 with 38k on it. It now has 130k. I’m concerned about the intake manifold, as it’s not the revised one.

My “modern” truck was a trade/gift from my parents. In 2011, my wife and I had our first baby on the way and neither my (then) daily ‘92 Olds 88 (structurally rotten body/non-op ABS/non-op AC/other issues) nor my ‘84 Chevy C10 (non-op AC/brakes that would lock up easily/173k on the 305) were up to snuff for our new family life in Texas. So they traded me their 2004 Ram 1500 with only 26k on it for my Chevy truck in 2011. The Dodge just turned 100k, needs 4 new tires and front wheel bearings.

My wife had just paid off the 2003 Corolla she bought new when I met her in 2008. The car had 40k then, and has been in my care ever since. It now has about 199k. The only non-consumable parts failures I’ve had with it are an AC relay, AC compressor, and starter. It’s been a great car, but it could stand to have two tires replaced.

My most recent purchase has been the “party van,” a 1985 GMC Starcraft conversion. We bought it in December with only 105k on the clock for $3,000. I replaced the fuel pump, shocks, and exhaust. I also had the carb rebuilt, a new radiator installed, and it’s got four new tires. I expected most of those expenses considering the age. It’s our road trip vehicle and my wife loves it (but never drives it).

All my other vehicles are vintage “toys” bought for $1-3k: 1974 Pontiac Bonneville coupe, 1976 Cadillac Coupe DeVille, 1977 F-250 SuperCab (460), 1979 Ford “Free Wheeling” Bronco (my wife’s but not up to par for her to drive it yet)

I know my wife could really use a new car. She’s been an attorney since 2007 or so. Oddly, what she really wants is a (JDM) Nissan Fígaro… another “old” car. We are still paying student loan debt, and I’m afraid of having a car payment, as I’ve never had one.

 

[ka9mnx]

I'm fortunate that I can work on my vehicles, although the day I can't is rapidly approaching. Every time I spend a couple hundred bucks on parts my wife says "still cheaper than a car payment". Also figure in the cost of insurance and personal property tax if you have that.

 

[wander2039]

Our newest is a 05 and that's the RV. I'm almost getting to the point I'd like to have payment to 1 get her a good vehicle to drive and 2 something with AC to pull behind the RV. The Focus is on it's death march, the Escape is making a odd sound I can't figure out but is still good vehicle, the Dakota doesn't want to start and misfires for a minute when it does no idea what it is, the Festiva has no AC but it's ok otherwise. Might try to bribe her with a Lexus hybrid next year.

 

[BLND1]

It’s usually cheaper to keep her. With a new car you pay for convenience and peace of mind.

I buy new cars and keep them for many years (until they become inconvenient).

With new car interest rates (and rates in general) As low as they are I don’t worry about “saving” and buying cash. That money gets invested. Time in market matters.

I drove beaters for years while I was in school. I bought a reasonable (at the time) new vehicle as soon as I could because breaking down sucked.

no way was I going to go my parents route of buying highmileage used cars and then constantly having problems or getting stranded. I noted that once they stopped doing that they had more money and less stress.

 

[CKN]

I'm fortunate that I can work on my vehicles, although the day I can't is rapidly approaching. Every time I spend a couple hundred bucks on parts my wife says "still cheaper than a car payment". Also figure in the cost of insurance and personal property tax if you have that.

Being able to work on them-and ALWAYS working on them is a different story.

 

[ka9mnx]

Being able to work on them-and ALWAYS working on them is a different story.

I'm retired. What else am I going to do? Besides, I don't have to work on them "ALWAYS".

 

[CKN]

I'm retired. What else am I going to do? Besides, I don't have to work on them "ALWAYS".

No-but the OP apparently does. Retirement? My wife's Hyundai has been recalled for a fuel canister (pollution control). We are retired and so busy I can't find an open calendar date to take it in for at least a month....