Posted on 08/31/2007 10:27:15 PM PDT by 2ndDivisionVet
By keeping your car for 15 years, or 225,000 miles of driving, you could save nearly $31,000, according to Consumer Reports magazine. That's compared to the cost of buying an identical model every five years, which is roughly the rate at which most car owners trade in their vehicles.
In its annual national auto survey, the magazine found 6,769 readers who had logged more than 200,000 miles on their cars. Their cars included a 1990 Lexus LS400 with 332,000 miles and a 1994 Ford Ranger pick-up that had gone 488,000 miles.
Consumer Reports calls the Honda Civic a "Good bet" to make it to 200,000 miles.
Calculating the costs involved in buying a new Honda Civic EX every five years for 15 years - including depreciation, taxes, fees and insurance - the magazine estimated it would cost $20,500 more than it would have cost to simply maintain one car for the same period.
Added to that, the magazine factored in $10,300 in interest that could have been earned on that money, assuming a five percent interest rate and a three percent inflation rate, over that time.
The magazine found similar savings with other models.
To have much hope of making it to 200,000 miles, a car has to be well maintained, of course. The magazine recommends several steps to help your car see it through.
Follow the maintenance guide in your owner's manual and make needed repairs promptly.
Use only the recommended types of fluids, including oil and transmission fluids.
Check under the hood regularly. Listen for strange sounds, sniff for odd smells and look for fraying or bulges in pipes or belts. Also, get a vehicle service manual. They're available at most auto parts stores or your dealership.
(Excerpt) Read more at money.cnn.com ...
I want to add an “amen” to that. We’ve had a fair number of older Saturns here (they’re popular with my older kids, too), and one thing they’re known for: you need to replace the timing belt usually around 100K miles. If that sucker goes.........you’re looking at one HELL of a big repair bill. Possibly a new engine.
I saw a sportscar the other day with this on the license plate: Drive it like it’s stolen.
Sorry..........but this literally made me laugh out loud!!! :)
I am marrying my 2002 F-250 Super Duty. I bought her nice big shoes and a nice hat to slip-stream her. Over 80 MPH it’s like flying an airplane across the desert. Complete silence.
Why get rid of a car you like? Modernity isn’t that exciting, most of the new tech they’re putting in cars is silly anyway, and there are certain benefits to knowing a car very very well. Getting from a fully parking lot to one with empty spaces I once got my car through a gap that had about 4 inches to spare, only reason I even tried it is I’d already owned the car 7 years and wore it like a second skin, I knew I had the room on the passenger side without a spotter and without having to get out to look, I could navigate that car through a crowd just like I navigate me. Then there’s the money issue even if you can afford to replace your car all the time why bother? If you respect preventative maintenance you can keep a car going for 2 or 3 payments equivalent in repair bills a year, I don’t care how much money you have there are better ways to spend 10 car payments a year than on a car, if nothing else you can take a decent vacation with that money.
Not to mention that none of my rigs cost more than about $40 a year for tabs. A late model rig could cost you 4-5 times as much.
That’s probably two months worth of gas right there.
LMAO!!!!!!!!!!!!! (damn I was thinking it, but.......you came out and said it and..............)
oooooooooooo I’m jealous; had a couple 914’s, never a 914-6. You’re right; damned uncomfortable......but SO much fun to drive. Corner like they’re on rails.
Let me know if you wanna part with it. :)
In my state (Kansas) the average person has to keep their cars/trucks/SUV’s for 10 years or more just to get the annual personal property tax down to a decent amount. Its too damn expensive to own a newer car, because the state taxes the crap out of it every year when we get tags renewed. This is why so many Kansans use relative’s addresses in other states to tag their vehicles in those states. Texas is the most popular state for Kansans to tag in. Followed by Missouri.
You're right. The last time I paid <$350 for a vehicle ...it was a used 1996 Buick Regal. I paid it off in 1999 and just got rid of it. I'd had the engine overhauled at 200k and a new a/c put in.
A 165lb Rotty jumped in front of me while traveling 70mph... and it kinda quashed the plans I had for it. Tore up the whole front end. I'm seriously looking for another 1996...if it's in good shape. I just love those cars.
That’s why you keep a second beater that works at home.
It is rapidly still saves money over a new car.
Had one saturn get stolen at 245,000 miles, was running
fine with some gasket repairs, could have gotten another
20-30k miles. Got another one with 238,000 miles. Got it for
4,000 at 103K miles. only 4.5 years ago. Getting weaker, it
is, but I’ll buy another used car when it goes.
In California you pay about 8% of the cost of the car to tax.
On a 50k car, that’s 4,000. Why feed the beast?
[IMG]http://i105.photobucket.com/albums/m224/w3cf/DougsCar3012.jpg[/IMG]
Hope i did this right...165K
1993 Civic Del Sol..drops no oil (mobil 1) 34mpg....note paid in 1994. Change timing belt as prescribed and drive it.
I changed the oil EVERY 5,000 miles of its life, and it still was hardly using any oil between changes at 300,000. The engine was still intact (i.e., never "opened up" other than to replace the timing belt and water pump once). I did have to replace the heater unit and front drive shaft axles around 200,000+.
It was the very last of the '93's (they changed to a new body style mid-year), and was so spartan that it came without a radio, air conditioning, and still had "roll-down yourself" windows. For all the years, if I wanted music, I took along a portable CD or minidisc player and used headphones.
It was the best car I'll ever own. Got my money's worth out of that one!
- John
my 98 saturn has 137,000 miles on it and I plan on keeping it as long as I can.
I have a BMW with over 300,000 miles on it. Only paid $2500 cash for it back in ‘93.
I was talking to my salesman who sold me my first saturn. he told me that there is a security company that has saturns with 700,000 miles on them. The cars go in like clockwork to get their oil changes.
Sounds like I might have my saturn for a long time.
Forgot to say that it was a 1984 when I bought it.
I have a BMW with over 300,000 miles on it. Only paid $2500 cash for it back in 93.
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