Not many new cars can beat this...
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 ...
The 6’s are every bit as reliable as any big six car (big six is the 6 cyl. motor) You will spend some time and cash on the front end but ah, the rewards, a solid car that is easy to maintain and a blast to drive. Go to bimmerboard.com and poke around if you want some insight.
Excellent choice. I had a 73 once, still regert selling it, young and stupid I guess.
I don’t know how familiar you are with my other BMW, the bronze on. It is a 1986 745i. It was the Gray market car with the Turbo.
I have it modified with the team 745i adjustable waste gate, the ecu mod that overrides the 6 lb boost limit and a in cabin boost control. I can get 16 Lbs boost now, and after I get my fuel pressure regulator back, 20 lbs.
Scream, I think so...
I’ve had several Dodge minivans over the years. Once, when the transmission went out and had to be replaced, the mechanic told me “these always go out between 50 and 150 thousand miles”. Always!
My E30 M3 is in the process of restoration... lots of little things like door latches, paint, locks, chipped windshield... engine is solid and original, greasy, but all the seals, belts and hoses are good for now,... exhaust needs replacement... wiring needs to be eventually replaced and I have already run through a set of new tires and warped a rotor...
The Porsche runs fine, it just needs to be torn completely apart, and every inch of it cleaned before I get another paint job. The interior is pretty beat up, needs to be gutted and replaced.
The stuff is somewhat expensive to do (if you never had to pay Jaguar prices), but the cars are more than worth saving, they will last longer than the newer ones when they are finished, but most importantly, they are competitive!
I had an XJS some time ago. What a rocketship that thing was. Trouble is, a brake job will cost you 2500 at a shop, the parts ain't cheap and they aren't easy to work on.
Not many new cars can beat this...
>>So there are many of us with cars that are at least 15 years old, and we tend to drive them until they die
Sorry about the language, but it must really suck to have your car die when it’s 40 below.<<
Having your car die at 40 below isn’t all that bad. You just leave it there until May. Having myself die at 40 below is uncomfortable, although according to Jack London I’ll hallucinate my friends are coming to rescue me before finally passing on.
The point I was trying to make was: Isn’t it excessively risky to be driving a car that is likely to break down if you are in a place where the outside temperature will kill you in a short time if you break down?
“” Isn’t it excessively risky to be driving a car that is likely to break down if you are in a place where the outside temperature will kill you in a short time if you break down?””
Any car can break down, I had a 2 week old Toyota go out on me one night during winter in Washington state.
Preparedness is the answer to that problem, when I lived in Minnesota I kept enough gear in my pickup for two people to be totally comfortable for three days, and to survive for much longer. That gear also included the clothing and winter boots needed to hike out.
You do not want to break down in your new Mercedes and realize that it is 15 below zero, a 10 mile walk for assistance, and that you left your cozy condo wearing tennis shoes, blue jeans, and a stylish light jacket.
One of mine (a '95) went out at 85k and the other ('97) just hit 160k and is still going. The rear half of the original exhaust and muffler went out at 160k, too. Only eleven years out of an exhaust system! The '95 still has the original exhaust.
Here's mine:
It's an '87 GT, with a little extra in the rear. ;)
Thanks for the reply. I’ve found what looks like a nice 6 series car on eBay:
How much do you think it’s worth?
True, and their dislike of spending money on cars is a major contributor to why they are rich. Cars are not an investment, certainly. New cars should be purchased out of an entertainment budget, rather than viewed as a neccessty.
I think I was just attempting to throw a little balance into the discussion, only b/c when the subject of frugality comes up, people try to outdo each other on how much they live like a pauper.
I’d hate to die with five million dollars in the bank, with my last drive taking place in a 15 year old car, on the way to the mechanic for the upteenth time.
get some new wheels
I’m another loyal Saturn owner! I bought my previous Saturn - a bright red 2000 SC1 - in the summer of 1999. (I don’t like to buy cars, so I drive ‘em into the ground.)
The AC went out last September, and my husband and I decided we’d get me a new one before this summer.
In May, the SC1 started to hiccup and cough weirdly on my way home from work. We took it to our favorite mechanic, who told us it needed a new fuel injector and a few tune-up-type items, which would all run about $600.
Since the car wasn’t quite worth that, we decided to buy a new one then.
I miss my old car! The 2007 runs just perfectly, but there was something so sporty about the old one.
For my next car, we’re thinking a Vue.
Around my modest rural town, all I see are bright, shiny new SUVs that I know folks have a hard time affording. I guess they use the equity in their homes... I try to get 200K out of every vehicle.
Sounds like a great strategy, but how does one go about buying 3 year old luxury cars at wholesale?
We’re think ing about the Outlook. HUGE, but inlaws are getting older, and might need some transporting.
Those are my winter wheels......factory wheels actually.
Have a nice 5 spoke set for spring/summer/fall. Too much salt to leave them on all winter!
Most new cars have these. I turn my traction control off most of the time, for example.
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