Cars and trucks are lasting much longer now because they are so well made, if you stick o the most reliable manufacturers such as Honda and Toyota.
Bought my wife a used loaded year-old used Honda Accord 3.5 years ago for about $24,000. She puts about 5,000 miles per year on the car. Once that is paid off in 2.5 years, we will never have another car payment as long as we live. That’s $400/month we will have to spend on other things; or not.
I follow the same policy except that the last time I went to trade in a 1997 Honda Accord (210,000 miles) for something a little newer, used car prices had spiked thanks to “cash for clunkers”. Between the lower interest rates and the lower new car prices, I was better off buying new. The dealer still calls to tell me about great deals on newer cars, but I still have less than 50,000 miles on the new one.
Was told my 3 year old jeep needs a new radiator. It’s got 30k on it.
Paid $$$ for a new 2016 F-150 XLT V-8. $28K (Out the door at $31K). Sticker was $42K+.
We got both the SUV and the house paid off this year!
What’ll we do with all the money?!?!