Our newest car is the 07 FJCruiser with 175 k on it. My jeep is an 02 with 182k and my truck is an 87,unknown actual milage.
New Cars and Financial Ineptitude
- Thread starter Kurtatron
- Start date
Try 20 years building one of these... The '68 Corvette is a strange car. Early models had left over '67 parts. The car has a lotta 1 year only parts. Mine is a late year build, which makes it a better built car. The early ones had lotsa issues. This is a "Plain Jane" 1968 Corvette Roadster 427 4 speed 3.90 Posi. Mostly original. It was horrible when I bought it.
To many people wanting to keep up with the Jones's. Until Feb. 2019 when I bought my 2016 Versa my newest car was a 2002 Ford Escort that I bought used in 2008 for $2000. The only reason I bought another car in 2019 was because the Escort was looking pretty rough and close to 200K miles. I still use the Escort as a local daily driver. The Versa had a rebuilt title and 10K miles, I bought it for $5300 cash. I just couldn't pass up such a great deal. My only concern with the Versa is that it has a CVT but, I got a notice from Nissan with it's VIN on it saying it was covered under the 7/84 extended warranty resulting from a class action suit. I'm also saving on gas in the Versa. In the Escort I usually get around 32-33 MPG. The worst tank I've had in the Versa is the first tank I ran though it at 42.345 MPG in Feb/Mar 2019 during wet/cold weather. I've now been tracking the mileage 14,475.9 miles and have used 297.841 gallons of gas for an average of 48.603 MPG. My driving habits aren't like most people. Most of my driving is on rural roads in the 40-55 MPH range. I also watch traffic lights and coast when I see a red light instead rushing to it just so I can stop and wait. I also keep a buffer between me and cars ahead of me so if I see their brake lights come on I let off the gas and coast and often never touch the brake pedal.
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I got rid of my 1985 Olds 88 coupe that I have owned and garage kept since April of 1992, and the 2001 Impala that we bought when it was 3 years old, both in the beginning of this year, because both of those cars were costing way too much in repairs on a regular basis, and on top of that they were no longer reliable. The engine was just plain worn out on the Olds and it was costing way too much in repairs. And the 2001 Impala was also costing way too much in repairs and was no longer reliable. It seamed like every other month the check engine light was coming on for something new, or it would not start, or something else major was wrong with it. EGR system, fuel filter clogged, Evap system several times each time for a different part and having to figure out which part, water pump failure, ignition coils weak requiring replacement, gas tank sender, rusted out fuel lines and brake lines from front to back and GM no longer stocking, getting fuel lines that are pre-bent form someplace in Canada and spend a lot + a lot to ship them, brake lines no longer available from GM and having to custom bend them, broken seat springs, broken power steering system, radiator leaking, leaking windshield, starter drawing sooooo much current it was killing batteries, parking brake cable breaking 3 times for 3 different sections, power window regulator failing and window stuck down, power window mount rusted out inside door, cabin fan control bad and burning out cabin AC/heat fan and both control switch and fan motor requiring replacement and some wires getting fried and requiring replacement, stripped lug-nut (so to be safe I replaced all of them), oil leaking, alternator voltage regulator failing and car dying and requiring a tow, harmonic balancer mount/damping rubber failing causing outer pulley to migrate so it is not aligned with inner pulley therefore causing serpentine belt to fall off, AC condenser leaking, back brake parking brake drum requiring replacement and new parts not proper size, engine temperature sensor wiring bad causing bad information and no-starts when the engine was at normal running temperature and you stopped some place and then got back in and tried to start it. in the last two years before I got rid of it, that Impala cost a small fortune to keep on the road. And the way things were breaking on it every other month it was getting to be a royal unreliable PITA. I would have been way ahead financially if I had just junked that Impala two years before I got rid of it.
I believe in maintaining my vehicles well and getting many years out of them, and after the Impala was paid off there were many years when all we had to do was oil and filter, brakes, and tires and every once in a while trany fluid, and the car was worth keeping. But there comes a point where the cost of keeping it running is way too much, and if I had know in advance how much those last too years of keeping the Impala on the road were going to cost, I would of driven it to the bone yard and got rid of it.
I believe in maintaining my vehicles well and getting many years out of them, and after the Impala was paid off there were many years when all we had to do was oil and filter, brakes, and tires and every once in a while trany fluid, and the car was worth keeping. But there comes a point where the cost of keeping it running is way too much, and if I had know in advance how much those last too years of keeping the Impala on the road were going to cost, I would of driven it to the bone yard and got rid of it.
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And the massage seats are nice too. They're called dynamic seats, the side bolsters inflate when you take corners, but I find it too annoying so never use it. Back massage on long trips is nice though.
The car I had before the 2001 Civic was a 1999 Toyota Solara. I loved that car. It was the V6 model, stick shift. It was also from Florida, hence no rust. I would have kept that thing for another 10 years if I could, but it was clobbered by a left turning ignoramus. I still have the scar from that crash.
The most I have ever spent on a car is $2,900. Despite that, I am not some inconspicuous millionaire next door. I spend my money frivolously on other things, like camping equipment and motorcycles. But I don't ever go into crippling debt to finance depreciating assets. My gripe is not with people financing cars if they can afford it, but with people buying cars when they cannot afford it.
There's a statistic out there saying like 40% of adult Americans live paycheck to paycheck and have less than 1,000 in savings, YET, way more than 60% of adult Americans drive financed cars. That's my point! Simple numbers paint an ugly picture of Americans' financial stewardship.
The most I have ever spent on a car is $2,900. Despite that, I am not some inconspicuous millionaire next door. I spend my money frivolously on other things, like camping equipment and motorcycles. But I don't ever go into crippling debt to finance depreciating assets. My gripe is not with people financing cars if they can afford it, but with people buying cars when they cannot afford it.
There's a statistic out there saying like 40% of adult Americans live paycheck to paycheck and have less than 1,000 in savings, YET, way more than 60% of adult Americans drive financed cars. That's my point! Simple numbers paint an ugly picture of Americans' financial stewardship.
Well said Kurt. I understood fully what you were explaining. I get what I can afford. I'm not embarrassed in the least with what I have and do not judge others for what they have. When I was researching my Super Tenere I though about getting a BMW GSA. The reality is I can't afford that bike and am not willing to pay triple or 4 times the cost in parts and repair. Hence the Yamaha. And boy do I ever have as much fun on it.
My wife and I are thinking of getting a retirement vehicle and are looking at the Honda Passport, Toyota Rave, etc. Not sure if we will buy new or used. It will be cash for whatever we get. Our 20 year old cars are going to cost more in repairs than what they are worth. At that point it will be time to move up.
Society needs to stop glamorizing materialism. Schools can teach it until they turn blue but, if they see adults making silly decisions along with everyone around them, it won't stick.
You will never buy a new car........quite frankly-other people's purchase decisions and what they may/may not have in the bank is none of your business.
And yet here you are criticizing all those who drive older cars... as if it was your business.
Too true.
Personally I like early adopters--they pay for new tech that I might some day enjoy. I held off on getting a smart phone for more than 10 years. Now I can pick one up that would trash any computer I had while in college, and for pocket money at that.
Did I ever ask for individual bank accounts? Have I ever suggested anyone's personal finances is my business? No, I have not.
Say a study cites people who tend to wear the color green show statistical correlation to be jealous. I then make an observation that many people in my neighborhood wear green shirts. I say that I am distressed by what the study says could be an indication of the prevalence of jealousy in my local context. Just because I cannot judge whether someone is wearing the color green is actually jealous or not, does not mean I cannot discuss a concern over the prevalence of green shirts in my community. If the study is actually correct, might the observation be worth addressing, so that perhaps solutions can be discussed? I am not brow-beating. I don't look at a new car and think "That person must be a financial mis-handler." I do notice the trend of new cars being everywhere, however.
Making statements like "It's none of my business" is just throwing an accusation that I am personally making individuals financial information my business, which I am not. Statistics should not be applied to individuals, of course, but statistics can be a useful tool for discussion. I am citing my observations of trends, which can be explained by studies. My purpose was just voicing my frustration with bad spending habits of society in general, and how I wish society was a little bit more modest.
I do appreciate the economical comments. Those are responses worth learning about. I do honestly wonder if continuing the debt machine is actually more beneficial than stalling it and slowing the economy.
Say a study cites people who tend to wear the color green show statistical correlation to be jealous. I then make an observation that many people in my neighborhood wear green shirts. I say that I am distressed by what the study says could be an indication of the prevalence of jealousy in my local context. Just because I cannot judge whether someone is wearing the color green is actually jealous or not, does not mean I cannot discuss a concern over the prevalence of green shirts in my community. If the study is actually correct, might the observation be worth addressing, so that perhaps solutions can be discussed? I am not brow-beating. I don't look at a new car and think "That person must be a financial mis-handler." I do notice the trend of new cars being everywhere, however.
Making statements like "It's none of my business" is just throwing an accusation that I am personally making individuals financial information my business, which I am not. Statistics should not be applied to individuals, of course, but statistics can be a useful tool for discussion. I am citing my observations of trends, which can be explained by studies. My purpose was just voicing my frustration with bad spending habits of society in general, and how I wish society was a little bit more modest.
I do appreciate the economical comments. Those are responses worth learning about. I do honestly wonder if continuing the debt machine is actually more beneficial than stalling it and slowing the economy.
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Nick1994
$100 site donor 2024
I wanted to take my Camry to high miles and drive the wheels off of it. But I have a bad back and needed some comfort. I bought a 15' Sonata which served me well for 3 years. I got the itch for a nicer car, and traded it in on the Genesis. Financially, I should have kept the Sonata. It was almost paid off. But the Genesis was about as much as a new Corolla, so really it didn't cost much.
While it was getting some work done at the dealer the other week, they gave me a loaner Hyundai Kona. Once I suffered with that thing for over a week I got in my Genesis and was blown away, it was so comfortable and nice to drive.
No more penalty boxes for me. I'm ok with a base model sedan like my Sonata, but that's it.
While it was getting some work done at the dealer the other week, they gave me a loaner Hyundai Kona. Once I suffered with that thing for over a week I got in my Genesis and was blown away, it was so comfortable and nice to drive.
No more penalty boxes for me. I'm ok with a base model sedan like my Sonata, but that's it.
Once the taxes are paid it isn't your money any longer. I don't know why people think it is. It goes into the general fund and we each have a vote on how it is spent. Other than that that's all each of us has, the one vote rich or poor. This is the country and how it is set up. I like it.
The question is can the purchase be afforded. Being able to make the payments necessarily doesn't mean you can afford it. For example my neighbor has a twin engine Cessna. It was chump change for his business. I doubt he noticed the cost of the plane in his life's expenditures.
Pleistocene genes
My problem with this is financial immaturity leads very much so to inflation and indirectly drives quality down. More people spend more for everything, and demand less for their money. So it directly affects what you pay and what you get for your money. Imagine if most folks were frugal and didn't keep their mouths shut when they got a failing product, how that would affect the asking price and quality of anything.
I've come to prefer older vehicles. There's just no soul in new plastic infested throwaway vehicles.
JHZR2
Staff member
Depending upon the day, I’ll drive a 5 year old car, or a 40 year old car.
Many don’t care for their cars, and they have an intrinsic fear related to reliability. Like 100k is a sign of death.
Others just like new things. This isn’t new. Look at how cars changed every year back in the 50s.
I can’t understand how/why people finance super expensive cars and pickup trucks when their incomes can’t sustain it. When the median income is $54k or something, how folks are buying $50k pickups is beyond me.
All I want is to not be affected by it, nor have to bail anyone out when the situation collapses. If I’m responsible with debt and credit cards and savings, I don’t want to get caught with somebody else’s bill, and worse, don’t want my kids to have a bill tomorrow due to somebody’s vanity today.
Many don’t care for their cars, and they have an intrinsic fear related to reliability. Like 100k is a sign of death.
Others just like new things. This isn’t new. Look at how cars changed every year back in the 50s.
I can’t understand how/why people finance super expensive cars and pickup trucks when their incomes can’t sustain it. When the median income is $54k or something, how folks are buying $50k pickups is beyond me.
All I want is to not be affected by it, nor have to bail anyone out when the situation collapses. If I’m responsible with debt and credit cards and savings, I don’t want to get caught with somebody else’s bill, and worse, don’t want my kids to have a bill tomorrow due to somebody’s vanity today.
