I know folks who trade/change more than once a year and they buy them.
Sell when Basic Warranty Expires
- Thread starter Al
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Yeah, a lease would not work in this kind of situation. Also, with lease you are sort of locked into one brand if you want the least amount of hassle.
The cars the OP selects are fairly modest ones that won't strangle the checkbook of anyone who has done reasonably well during their working years, so not extravagant.
I recall a conversation years ago with a guy I worked with who had an S class and a 7 series as well as a lovely old Series 3 XJ-6 saloon, as the Brits would call it. He also had a Chevy pickup as his daily and this was in the days before a half ton pickup became the standard commuter for upper middle class conformists.
He was then in his late fifties and looking at what retirement might be like and he remarked that cars weren't really where it's at. I'll leave it at that.
I recall a conversation years ago with a guy I worked with who had an S class and a 7 series as well as a lovely old Series 3 XJ-6 saloon, as the Brits would call it. He also had a Chevy pickup as his daily and this was in the days before a half ton pickup became the standard commuter for upper middle class conformists.
He was then in his late fifties and looking at what retirement might be like and he remarked that cars weren't really where it's at. I'll leave it at that.
It's less to buy than lease and I can trade whenever I want. Also can trade/sell with body damage, broken windshield, bald tires, etc. on my terms, not the bank's.100%, I would much rather buy my cars even if I don't use it for long. Leasing is fine for some if you understand and negotiate a reasonable deal. My wife is a perfect example of someone that could lease a vehicle and I have considered it.
As for your children having it better or worse, I bought my first BMW at 26; it was a 10 year old Bavaria- a nice driver, but it took me several years to bring the appearance up to snuff.
In contrast, my son purchased his first BMW at 27- a pristine 3 year old CPO 330i xDrive.
Go figure.
In contrast, my son purchased his first BMW at 27- a pristine 3 year old CPO 330i xDrive.
Go figure.
I talk about "cost per mile" all the time.
People really do not understand cost per mile, and somehow believe that capital costs are the most significant automotive cost. That's often NOT SO.
A well purchased new vehicle (which is now possible again) is often only a few cents per mile more expensive than a used vehicle or older vehicle that requires considerable maintenance.
Insurance costs often exceed 10c per mile, mine are currently 33c per mile.
Fuel costs also can be over 15c per mile
Routine maintenance costs figure in 10c to 15c per mile
Breakdowns figure in and in the case of a Subaru CVT, can be stunningly high. Subaru CVT's can be 7.5c per mile.
Remember a late model car takes a hit when selling, but rolled into that "hit" are the delayed routine maintenance costs of brakes, tires, coolant and brake service, transmission fluid changes. Put another way, cost per mile is the way to calculate automotive ownership.
People really do not understand cost per mile, and somehow believe that capital costs are the most significant automotive cost. That's often NOT SO.
A well purchased new vehicle (which is now possible again) is often only a few cents per mile more expensive than a used vehicle or older vehicle that requires considerable maintenance.
Insurance costs often exceed 10c per mile, mine are currently 33c per mile.
Fuel costs also can be over 15c per mile
Routine maintenance costs figure in 10c to 15c per mile
Breakdowns figure in and in the case of a Subaru CVT, can be stunningly high. Subaru CVT's can be 7.5c per mile.
Remember a late model car takes a hit when selling, but rolled into that "hit" are the delayed routine maintenance costs of brakes, tires, coolant and brake service, transmission fluid changes. Put another way, cost per mile is the way to calculate automotive ownership.
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Yep, it's all about the total ownership cost, unless you can find an uber-reliable older used car, buying a new car (well negotiated) vs. a newer used car isn't that huge of a variance in overall costs if you keep them.
Yes, my CPM is quite high because my miles driven are quite low, about 10.x miles daily. So my semi-annual $600 car insurance is 33CPM while someone driving a more "normal" 1500 miles per month pays only 7CPM. And perhaps the saddest part of all is how many have no clue what CPM means, what it is, or how to calculate it.
I hope not! I see that used 2019-23 RAV4 transmissions are slightly more money that the 2018-21 Outback's so the market says there's more demand for the RAV4 trans?
I guess right now our CVT has cost 1 fluid change for 100k miles. I'm betting it will go to the wreckers intact, but who knows. Anyways, I'm sure lots of people who buy an RAV4 aren't expecting a similar transmission failure rate as a terrible CVT.
You make an excellent point: Cost per mile calculations must include class of vehicle, brand of vehicle and historical reliability data. I used Subaru CVT's as an expensive example. I could also use Ford's 10R-80 10 speed in the F150, between from 2017 through Aug 2022 as a potential $10K maintenance expense. Not difficult to calculate that one out. 10-13c per mile.
I am under no illusions that my Jag F-Type is inexpensive per mile. The good news is, it uses the worlds best transmission, the ZF 8 speed.