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How long do you keep your car

CRA

By CRA,
in Huddle Lounge

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Darth Biscuit Mentor

Darth Biscuit

Posted
Posted

I have bought 3 new cars in my lifetime. 2 were 0% interest and 1 was 0.9%. No way I would pay 5%-10% interest (or more) on a car.

I wish I was financially able to pay cash. My parents have owned several new cars over the years and 2 boats (one is a 27 ft. Grady White) and have never had a payment on anything but their house. They were not rich at all..dad worked for the phone company and mom stayed home with the kids, but they saved until they had the money to pay cash. That mentality doesn't exist much in todays world.

Yeah, I certainly couldn't pay cash for one... we've looked recently at a new one mainly for gas mileage purposes. My truck runs great right now... it's been paid off for about 4 years and I've only recently had to put any significant amount of money in it beyond basic maintenance costs. I had to pay $475 to replace the timing chain cover gasket about 2 months ago, it was leaking coolant like crazy.

I guess if I started having chronic problems with it, I would look at doing something as not having a reliable vehicle sucks.

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Johnny Rockets Rookie

Johnny Rockets

Posted
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I currently find myself at this crossroad.

I have an 8 yr old car (paid off). That is always seems to be having issues. Which means time off work and arranging my schedule to get car to shop and out and a ride while it is in the shop.....and tons of consistant bills. .

I don't buy high end cars and when I do buy I will pay cash.....I just can't figure out when the hassle of a problem child car becomes not worth it. I like the idea of riding it until it can't be fixed but I think I like the idea of a reliable car my family could take anywhere (with little worry) better.

Sounds to me like it's time for something more reliable and you are financially in a good postion to get one. I say take the plunge and don't give it a second thought. Enjoy having a peace of mind that you longer have the hassel of car repairs.

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bredy087 Newbie

bredy087

Posted
Posted

I currently find myself at this crossroad.

I have an 8 yr old car (paid off). That is always seems to be having issues. Which means time off work and arranging my schedule to get car to shop and out and a ride while it is in the shop.....and tons of consistant bills. .

I don't buy high end cars and when I do buy I will pay cash.....I just can't figure out when the hassle of a problem child car becomes not worth it. I like the idea of riding it until it can't be fixed but I think I like the idea of a reliable car my family could take anywhere (with little worry) better.

Just sank 1500 on repairs on my 12 year old Passat. Had a long discussion on if its worth it anymore. Car has had more and more problems as parts wear out. Currently in the market for a new car. So sad, had my Passat for a long time.

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Darth Biscuit Mentor

Darth Biscuit

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Posted

Has anyones wheels actually ever fallen off? I've never had this happen.

had a friend that was driving an old NX that this happened to... Going down the road and one of his rear wheels falls right off...

Yep, never happened to me, but I once saw a car driving down the highway and a wheel just rolled right off...

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D34Williams Newbie

D34Williams

Posted
Posted

I have bought 3 new cars in my lifetime. 2 were 0% interest and 1 was 0.9%. No way I would pay 5%-10% interest (or more) on a car.

I wish I was financially able to pay cash. My parents have owned several new cars over the years and 2 boats (one is a 27 ft. Grady White) and have never had a payment on anything but their house. They were not rich at all..dad worked for the phone company and mom stayed home with the kids, but they saved until they had the money to pay cash. That mentality doesn't exist much in todays world.

You're right it doesn't. My wife and I are 22 and have been married for a year and a half, and we love this concept. Weve managed to pay cash for her a used $17000 suv and me a used $14000 truck. I love getting asked what my payments are on cars this nice, and my reply to be 'I have no payments.'

I'm an advocate for this method for a lot of reasons, if not only for the sense of satisfaction/achievement.

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Hawk Newbie

Hawk

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I have spent oodles of money on vehicles over the years. First one I bought was used, but pretty much each one after was brand new. I usually get the itch after 2 or 3 years to get a new one as well, so yes, lots and lots of money pissed away.

but, on the bright side, I've never spent any money on maintenance outside of oil changes, no money on tires as they car is usually gone before the tires are warn out. I'm not a mechanical person, so I don't like to tinker or repair and I want to be able to put the key in and drive where I want to go with zero worry.

all that being said, I've been in my TL now for 4 years almost and have no intention of getting rid of it. Bought my wife the MDX last year and I'm pretty sure we'll keep it for lots of years too. am considering a used TDI just for back and forth to work.

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LifeisaGarden Newbie

LifeisaGarden

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Has anyones wheels actually ever fallen off? I've never had this happen.

Yes, this has happened to us. Was driving a '88 pontiac bonneville had like 250k miles on it. We fixed it and kept driving it. We ended up giving it away because the last few months we had it we were pouring money into it. It needed a fuel pump and that was the straw. The guy we gave it to fixed it himself and drove it for several years until he wrecked it.

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