I have had hot rods or other old cars the great bulk of my life, I have bought 3 new cars during my life but that was a long long time ago. The newest car I have now is a 95 del Sol VTEC which designates the rare DOHC engine. I wrecked my 87 GT stick a while ago. I also have a 87 Prelude Si 5 spd. and a 88 CRX Si 5 spd.
I'm old and all my friends at church have new or near new cars, I thought it would be interesting to get your thoughts on this.
I learned a few cars ago that it`s nice to have a new car but once the excitement wears off and you are making those car payments it starts to get old. Of course, if you are fortunate enough to be able to pay cash for a new car then I guess payments aren`t a concern.
3 years is old? The only reason I have a 2003 truck is because my brother gave me a very good price on it. Our other car is a 98 Sentra, which I expect to drive two more years before replacing. With 200,000 miles being common these days, why should I replace a car with 150,000 miles? I like the sound of " It's paid for. "
My new car is an 06 HHR. I bought it new and it has 134,000 miles on it. My next new car is an 88 Fiero GT with 144,000 miles on it. Next is an 87 Fiero GT with 148,000 miles.
My last new car was a 99 Buick Regal GS, which I drove to 102,000 miles. There isn't much new cars in the market place that I find attractive at a price I am willing to pay.
Car manufacturers just seem to advertise leasing cars for 36 months at $8-15 dollars a day just because no one car really afford a $35,000 car.
Lemme see, my 2001 Le Sabre has 265,00 miles, and my wife's 2001 Venture has 124,000. No, a 3 year old car doesn't seem old to me.
The only new car I ever bought new was my '82 Z 28 (hey, its a palindrome!). I paid cash for that. Worth every penny. But I was young. Would I do it again? No.
2003 Chevy TrailBlazer (bought new--it was a demo with less than 5000 miles) 233,000 miles 2008 Pontiac Grand Prix 46,000 miles bought May of last year when it had 42,000 miles (I was hospitalized and had a long recovery last year) 1989 Chevy 1500 half ton 4x4 pickup. 121,000 miles Farm Truck rarely driven but it is registered/insured 1984 Fiero 2M4+6 (3800SC/4t65eHD) 33,000 miles on tranny, 46,000 miles on engine and 170,000 on body. (It is for sale $2000)
Unfortunately, all of them are registered and insured in the same month but the good news is that they're all paid for.
[This message has been edited by starlightcoupe (edited 06-25-2014).]
a matter of preference and economic position. I myself like to get a car as it hits about 3 years old. seem to get the most value out of it.
everyone has their own needs & wants from a vehicle.
Absolutely true. There is no "right" or "wrong" regarding vehicles. It is what each one is looking for.
If you are looking for best value, pyrthian has hit the sweet spot right on the head. The most rapid rate of depreciation happens in the 1st 3 years. Most cars, it is around 50% from sticker by that point. That is an approximate, and an average. But you can get 3 year old cars with 30-40,000. For a modern car, there still are a lot of trouble free miles to be had at that point. So repair costs should be low.
Also, at 3 years, you usually aren't missing out on much technology except maybe the latest and greatest gadget. Let's say you are someone that likes variety, and so likes to get a different car every 2-3 years. Well, then don't buy new. You are taking the biggest depreciation hit every single time. Buy a 2-3 year old car every 2-3 years then. You are only probably taking a 30% depreciation at that point, and on a smaller purchase number.
Since I do get bored, and then like to try a different car every 3 years or so, that is what I generally do.
The only reason would buy a car new, which I have done for the last 2 cars, is if everything lines up exactly right where it is a car that I happen to like, and they also happen to be heavily discounting them to a point where the depreciation hit isn't going to be too bad.
So to V8 Vega, it is ok to be a contrarian. You are valuing different things about cars than the majority are, and that's ok. And since most people in the U.S. should be more frugal with their finances, then I'll say your car values are wiser than theirs.
I have only owned seven cars in my 59 years, three of which I still own. The newest of them all is my '86 Fiero GT. With cars and motorcycles, it has never been about practical transportation. I reserve that concept for pickup trucks, the newest of which is my current '92 K2500. I buy a machine because I like it, and when Willie likes something, it stays liked. This principle does not, of course, apply to ex-wives.
'08 Chevrolet truck purchased new for the sole purpose of being a work truck here on property. Spent more time on grass than on pavement. Under 80,000 miles right now. When I and the salesman went to fill it up with gas he was telling how good the paint was going to hold up. I told him "in 6 months, you won't recognize this truck, I'm fixing to work the living sheet out of it and I don't give a crap what it looks like". I didn't lie. '13 Dodge Dart (wife's car)--probably under 15K miles yet. '84 Indy (looking for a new home)
I've worked in Automotive Engineering since '72, and I believe I've only bought 2-3 cars that fit the 3 year old category (all the rest were older). It wasn't a case of affordability, but more due to heavy exposure to the new stuff, and probably driving those vehicles at work that desensitized the desire to buy. That coupled with the fact that I was working on stuff 3-4 years ahead of what was available at Dealer.
My daily drives is still a 2001 Blazer 2dr Extreme with a 100K on it, I certainly don't get excited about it, but it is dependable.
I have never owned a car that was under 10 years old.
I have. The first car I bought was a 84 Nissan Kingcab in 1989. I paid cash for it. I've had others less than 10 years old, but usually the vehicles we purchase now are around 10 years old. The only exception was a 2000 Neon we bought new off the lot. After that I swore I would never buy another brand new car. Since then we haven't and I still don't ever plan to. I've only ever bought 2 cars I had to make payments on, the Neon and our Saturn SL1. The Saturn we eventually traded in on the Neon. Wish I would have just kept that Saturn...
I don't have any problem buying used cars. I just bought a 2010. It's the only car we own with less than 100,000 miles.
Having said that, there were a few years that, because of all the incentives and etc., you could actually buy a new car for less than you could a used one. My last new car was in 2001 (2001 Sonoma.) My wife bought a new Honda Odyssey in 2009, but the deal she got was amazing. ($33k sticker. Paid $26K out the door. Car dealers hate her.) My 2009 Challenger (sold in 2012) was purchased used with 740 miles on it.
The Venture had an electrical bug which caused random detonation. My theory was to replace the hall effect sensors front and rear, but the mechanic thought it was the computer. Could not tow it all over the place, so it was scrapped.
The Classic (older Malibu) threw a timing chain. Getting recommendations to replace the whole motor. Undecided. Supposed to be the reliable transport for my son going off to college.
Wife is now driving a 2004 Town and Country. Bought it six weeks ago because of the Classic. Just dropped its power steering, need to have it looked at. Hopefully, only a hose. The fluid that I put in it yesterday was, in a matter of moments, on the driveway. EDIT: Just threw a code. Misfire in #3 Cylinder - which is, of course, the center plug in the rear of the engine....
I am driving a 1995 Saturn SC2. Only 60K on the clock, but developed "reverse slam" last fall. Tried "Saturn folk" recommended remedies, including changing fluid/filter and sitting in reverse for half an hour, then replaced valve body. Still no reverse, and it doesn't like 2d gear, either.
88 Formula is still in garage, somewhat disassembled. With three in private school and one headed to College, I won't have time or money to do what I want for quite a while.
[This message has been edited by Patrick's Dad (edited 06-27-2014).]
Biggest drop I had was in the 08 crash. My $45,000 04 Magnum with 15,000 miles and perfect in and out was a hard sell for $12,000...took me a year to find a buyer at even that.
I don't believe "most" people think a 3 year old car is "old." Maybe more like 7-10 years.
I consider a car "old" when it starts to not be worth repairing. Other than my wife's new TSX wagon, my HHR SS is 2008, the D/A is a 2005 and of course the Fiero. The Fiero is old no matter how I look at it but that's intentional. I don't see the HHR or the D/A to be old by any stretch - they just aren't brand new.
For me it's about styling more than actual age though. The above is just a rough starting point. Styling can make a car look older or newer in a heartbeat.
I have only bought one new-new (off the lot) vehicle in my life. I have bought two other "new" motorycles from individuals with less than 750 miles. Everything else has been used.
With that being said I will probably purchase my next vehicle new off the lot when the time comes. I am driving my only new-new vehicle now which is a 2002 Chevy Silverado WT with 210k miles. Gotta love rubber floor mats and crank windows, AM/FM radio (with no tape or CD) and manual locks. When I bought the truck I wanted a new car however I wanted a basic car that would not depreciate "as much" net dollar wise so I got a stripper WT that was only 16k new.
have no plans to replace or upgrade the vehicle, but occasionlaly I do get the urge. I would like to get at least 300k out of the truck before it is no longer my DD. When I do replace the truck it will probably be 15-16 years old. I will probably just be ready for a change for another vehicle at that point. Since I have had my current vehicle so long I figure that I wil spoil myself and get a new vehicle in the future since I may have that for 10-15 years. I will buy that vehicle in cash unless they have some stupid low finanace rates when I go to buy. I have already been making car payments to myself for the future purchase for a couple of years. I would rather pay myself in advance rather than pay others in the future.
I may have a problem in the future whe I go to buy a car. I am comming from a low tech bare bones vehicle where there is little to go wrong. I just see these new cars with touch screens and no buttons or knobs to easily/quickly adjust the radio or enviroment controls.....I will refuse to buy a car with this junk. I want a car that will get me from A to B rather comfortably. I don't give a crap aobut info-entertainment that most cars now offer....guess this is why I sitll have a Nokia candy bar phone that send and recieves calls and don't give me the other crap.
While I tend to keep my vehicles till the wheels fall off (then put them on again) we are considering a new vehicle.
In the last few years vehicle technology has really changed. Back up cameras, blind spot monitoring, stabilty systems, high strengh steel safety cages, and even more airbags add cost, but are also features that can save your life. Bluetooth, XM, Pandora capability, Navigation are all becoming just about standard equipment.
Back in 1987, I custom ordered a heavily optioned new GTA Trans Am 5-speed and almost fainted when the sticker was just under $20k. Now we are looking at a 2015 Mazda CX5 Grand Touring with Technology package that is about $32k.This small SUV has just about everything you can hang on it, gets very good fuel economy, has a 6 speed automatic, all wheel drive, and enough power to get down the road. It also has a timing chain engine instead of timing belt so I won't be having to do scheduled timing belt replacments like our current 157,000 mile 2000 CRV requires. Since we plan to keep this vehicle for some time, and we both are getting older, I wanted to have some features our old cars don't. Do I like what cars cost these days, no. I have to admit they are safer, more fuel efficient and seem to last much longer with normal maintnance. Talk about sticker shock, a base 2015 Suburban LS 2WD with no options is now $48,590. I saw a loaded LTZ and it was over 70k! That's more than my first house was!
My newest vehicle is 6 years old and my oldest one is 61 years old. My DD is a 20 year old S-10. I'm not sure there's much out there that I would care to make car payments on.
my 1st new car was my veloster... it was a nice car but I just got to bored with it, traded it in on a lot miles used 2012 mustang and never looked back.
