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Good long-term economical car ownership strategy?
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Jeff
Jan 16, 2012, 6:51:44 PM1/16/12
to
Hi all, wondering what your thoughts are on what a good general strategy
usually is in order to maintain the cost of transportation. (I know
there are tons of possible individual factors depending on
circumstances, but generally...).
I've always bought used cars (typically around 4-5 year old low-mileage
vehicles), and run them into the ground (until it needs some major
repair(s). Obviously this cuts down the trade-in value however, which
seems like a bit of dilemma. The reason I originally picked a used
Accord is the maintenance record.
I know some people claim leasing is more economical; it seems most
people buy new and trade in often such that their vehicle is never more
than a few years old, etc.
I haven't had a car payment in several years however, and that seems to
have made a huge difference in my financial situation.
Anyway, are there any general long-term rules of thumb?
Thanks--
--- Posted via news://freenews.netfront.net/ - Complaints to ne...@netfront.net ---
usually is in order to maintain the cost of transportation. (I know
there are tons of possible individual factors depending on
circumstances, but generally...).
I've always bought used cars (typically around 4-5 year old low-mileage
vehicles), and run them into the ground (until it needs some major
repair(s). Obviously this cuts down the trade-in value however, which
seems like a bit of dilemma. The reason I originally picked a used
Accord is the maintenance record.
I know some people claim leasing is more economical; it seems most
people buy new and trade in often such that their vehicle is never more
than a few years old, etc.
I haven't had a car payment in several years however, and that seems to
have made a huge difference in my financial situation.
Anyway, are there any general long-term rules of thumb?
Thanks--
--- Posted via news://freenews.netfront.net/ - Complaints to ne...@netfront.net ---
Pico Rico
Jan 16, 2012, 11:30:19 PM1/16/12
to
"Jeff" <Je...@invalid.net> wrote in message
news:Jeff-E9AF22.1...@freenews.netfront.net...
> Hi all, wondering what your thoughts are on what a good general strategy
> usually is in order to maintain the cost of transportation. (I know
> there are tons of possible individual factors depending on
> circumstances, but generally...).
>
> I've always bought used cars (typically around 4-5 year old low-mileage
> vehicles), and run them into the ground (until it needs some major
> repair(s). Obviously this cuts down the trade-in value however, which
> seems like a bit of dilemma. The reason I originally picked a used
> Accord is the maintenance record.
I think you already have this figured out. And it is not a dilemma that
> usually is in order to maintain the cost of transportation. (I know
> there are tons of possible individual factors depending on
> circumstances, but generally...).
>
> I've always bought used cars (typically around 4-5 year old low-mileage
> vehicles), and run them into the ground (until it needs some major
> repair(s). Obviously this cuts down the trade-in value however, which
> seems like a bit of dilemma. The reason I originally picked a used
> Accord is the maintenance record.
your junker has little if any trade in value - you milked it for what it was
worth.
Don
Jan 17, 2012, 3:40:36 PM1/17/12
to
On Jan 16, 8:30 pm, "Pico Rico" <PicoR...@nonospam.com> wrote:
> "Jeff" <J...@invalid.net> wrote in message
When I was young, I had an even better strategy. I had no car. I rode
the bus. If you really need car for a long trip or some special
purpose, it is always possible to rent one for a brief period.
Unfortunately, when you get older, and family living comes about, that
strategy does not work very well.
> "Jeff" <J...@invalid.net> wrote in message
the bus. If you really need car for a long trip or some special
purpose, it is always possible to rent one for a brief period.
Unfortunately, when you get older, and family living comes about, that
strategy does not work very well.
DA
Jan 17, 2012, 3:40:12 PM1/17/12
to
responding to
http://www.beansmart.com/financial/good-long-term-economical-car-ownership-strategy-17576-.htm
DA wrote:
Jeff wrote:
> I've always bought used cars (typically around 4-5 year old low-mileage
> vehicles), and run them into the ground (until it needs some major
> repair(s). Obviously this cuts down the trade-in value however, which
> seems like a bit of dilemma.
If you are talking about trade-in in literal terms, i.e. you bring it into
the dealership where you're buying your new(er) car and have them "buy"
the old car from you, then "trade-in value" and "economical strategy" are
contradictory terms - you never know just how much the dealer wants to
screw you on that particular day.
I think trade-in value should be looked at more as a part of convenience
package - the dealership is helping you to get rid of the old car and you
are paying at least a couple of thousands of dollars for it. Making money
on both of your cars is the only reason the dealership is willing to touch
your old car in the first place.
Due to the amount of driving I do, my own personal "strategy" (preference
might be a better word for it) involves fuel consumption and that severely
limits my choices. In fact, I'm pretty much limited to just picking the
color of a second generation Toyota Prius and perhaps waiting to see if
the price of the third gen Prius would come down a bit. Given my personal
situation no other car comes close to the balance of cost of ownership /
utility / features that Prius provides.
-------------------------------------
|_/|
| @ @ Woof!
| < > _
| _/------____ ((| |))
| `--' |
____|_ ___| |___.'
/_/_____/____/_______|
.
http://www.beansmart.com/financial/good-long-term-economical-car-ownership-strategy-17576-.htm
DA wrote:
Jeff wrote:
> I've always bought used cars (typically around 4-5 year old low-mileage
> vehicles), and run them into the ground (until it needs some major
> repair(s). Obviously this cuts down the trade-in value however, which
> seems like a bit of dilemma.
the dealership where you're buying your new(er) car and have them "buy"
the old car from you, then "trade-in value" and "economical strategy" are
contradictory terms - you never know just how much the dealer wants to
screw you on that particular day.
I think trade-in value should be looked at more as a part of convenience
package - the dealership is helping you to get rid of the old car and you
are paying at least a couple of thousands of dollars for it. Making money
on both of your cars is the only reason the dealership is willing to touch
your old car in the first place.
Due to the amount of driving I do, my own personal "strategy" (preference
might be a better word for it) involves fuel consumption and that severely
limits my choices. In fact, I'm pretty much limited to just picking the
color of a second generation Toyota Prius and perhaps waiting to see if
the price of the third gen Prius would come down a bit. Given my personal
situation no other car comes close to the balance of cost of ownership /
utility / features that Prius provides.
-------------------------------------
|_/|
| @ @ Woof!
| < > _
| _/------____ ((| |))
| `--' |
____|_ ___| |___.'
/_/_____/____/_______|
.
Jeff
Jan 20, 2012, 9:43:34 AM1/20/12
to
In article <jf2f44$srb$1...@news.mixmin.net>,
I suppose that's true--that eliminates one complicating factor--thanks!
Jeff
Jan 20, 2012, 9:43:45 AM1/20/12
to
In article <55f00$4f15ae47$43de0cc0$21...@news.flashnewsgroups.com>,
DA <info_at_air-...@foo.com> wrote:
> responding to
> http://www.beansmart.com/financial/good-long-term-economical-car-ownership-str
convenience as cost-related considering the time/effort/risk involved in
buying/selling on my own.
Also I wasn't considering gas mileage, although my Accord does a lot
better than most. I'm going to look into the Prius.
Thank you very much for the ideas.
DA <info_at_air-...@foo.com> wrote:
> responding to
> http://www.beansmart.com/financial/good-long-term-economical-car-ownership-str
> ategy-17576-.htm
> DA wrote:
>
> Jeff wrote:
>
> > I've always bought used cars (typically around 4-5 year old low-mileage
> > vehicles), and run them into the ground (until it needs some major
> > repair(s). Obviously this cuts down the trade-in value however, which
> > seems like a bit of dilemma.
>
> If you are talking about trade-in in literal terms, i.e. you bring it into
> the dealership where you're buying your new(er) car and have them "buy"
> the old car from you, then "trade-in value" and "economical strategy" are
> contradictory terms - you never know just how much the dealer wants to
> screw you on that particular day.
>
> I think trade-in value should be looked at more as a part of convenience
> package - the dealership is helping you to get rid of the old car and you
> are paying at least a couple of thousands of dollars for it. Making money
> on both of your cars is the only reason the dealership is willing to touch
> your old car in the first place.
>
> Due to the amount of driving I do, my own personal "strategy" (preference
> might be a better word for it) involves fuel consumption and that severely
> limits my choices. In fact, I'm pretty much limited to just picking the
> color of a second generation Toyota Prius and perhaps waiting to see if
> the price of the third gen Prius would come down a bit. Given my personal
> situation no other car comes close to the balance of cost of ownership /
> utility / features that Prius provides.
Yeah, I'm sure that's true about the dealership. I guess I look at the
> DA wrote:
>
> Jeff wrote:
>
> > I've always bought used cars (typically around 4-5 year old low-mileage
> > vehicles), and run them into the ground (until it needs some major
> > repair(s). Obviously this cuts down the trade-in value however, which
> > seems like a bit of dilemma.
>
> If you are talking about trade-in in literal terms, i.e. you bring it into
> the dealership where you're buying your new(er) car and have them "buy"
> the old car from you, then "trade-in value" and "economical strategy" are
> contradictory terms - you never know just how much the dealer wants to
> screw you on that particular day.
>
> I think trade-in value should be looked at more as a part of convenience
> package - the dealership is helping you to get rid of the old car and you
> are paying at least a couple of thousands of dollars for it. Making money
> on both of your cars is the only reason the dealership is willing to touch
> your old car in the first place.
>
> Due to the amount of driving I do, my own personal "strategy" (preference
> might be a better word for it) involves fuel consumption and that severely
> limits my choices. In fact, I'm pretty much limited to just picking the
> color of a second generation Toyota Prius and perhaps waiting to see if
> the price of the third gen Prius would come down a bit. Given my personal
> situation no other car comes close to the balance of cost of ownership /
> utility / features that Prius provides.
convenience as cost-related considering the time/effort/risk involved in
buying/selling on my own.
Also I wasn't considering gas mileage, although my Accord does a lot
better than most. I'm going to look into the Prius.
Thank you very much for the ideas.
Elle
Jan 20, 2012, 10:46:24 AM1/20/12
to
-- Leasing is not economical for someone who is willing to drive his/
her cars into the ground and do homework on buying a car (new or
used).
-- (I think you know this already, since you have an Accord and know
it has a good maintenance and repair record.) Buy only cars rated
highly for good repair records and high mileage by the consumer
surveys in the April issue of Consumer Reports. The sample size per
model is high enough for these surveys to have good statistical
significance.
-- Since you are driving the car into the ground, buying new is going
to cost about the same as buying used per year and mile of use.
-- Consider Craig's List or many of several free "used car sales" web
sites for selling your used car. The dealer will pay less than a
private party for trade-in, due to the dealer's need to profit.
-- One may buy used on Craig's List and also do better than a dealer,
but I would argue this requires a little experience.
her cars into the ground and do homework on buying a car (new or
used).
-- (I think you know this already, since you have an Accord and know
it has a good maintenance and repair record.) Buy only cars rated
highly for good repair records and high mileage by the consumer
surveys in the April issue of Consumer Reports. The sample size per
model is high enough for these surveys to have good statistical
significance.
-- Since you are driving the car into the ground, buying new is going
to cost about the same as buying used per year and mile of use.
-- Consider Craig's List or many of several free "used car sales" web
sites for selling your used car. The dealer will pay less than a
private party for trade-in, due to the dealer's need to profit.
-- One may buy used on Craig's List and also do better than a dealer,
but I would argue this requires a little experience.
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