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Old 04-11-2013, 09:42 AM   #11 (permalink)
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I usually drive them into the ground. It also helps that I can fix/repair pretty much anything on the car.

Between my wife and I we ussually have 3 cars registered anyway. Wifes, My DD and my summer toy. So if one breaks we have another.

Although if something major breaks on my DD I may jsut call it quits with it this time. Its getting up there in milage.
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Old 04-11-2013, 09:59 AM   #12 (permalink)
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My outlander only has 110,000 km on it, I own it and the motor feels strong. That's what makes it so hard to get rid of. I just finished doing the breaks front and back.

What makes the gas tank so expensive to do is the amount of gear you need to drop out of the rear end to get the tank clear. And a lot of what you have to take off needs to then be replaced as they get damaged a lot during break down.

I did the front tie-rods this year and also put on a new base pan. Rust wise it's not that bad, there is only one spot that I would consider getting repaired and that's on the nose of the hood. I can order a new intermediate pipe for around $150 from a dealer off ebay who resides in Ontario. From Mitsubishi here in town the pipe costs $508. I haven't had the time yet to price a new windshield for it.
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Old 04-11-2013, 10:06 AM   #13 (permalink)
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Quote:
Originally Posted by CJOttawa View Post
If your vehicle is a necessity for business, hopefully it is also being used as a business write off.

I've heard a lot of people (not accusing you of such) using "peace of mind" as a rationalization for having a new car, while they live in a suburb and work in a city.

They are never in any real "danger" if their car breaks down; at worst, they call a cab and take a bus until the car is fixed.
That's also true! Unfortunately the last time I broke down on the side of the interstate it cost me not only $2500 parts, labor, room and board but also lost me nearly $1000 in take home pay. when I say I cannot afford to be broken down on the side of the road I'm not jesting! lol

Unfortunately most people buy new rigs' just to be keeping pace with the "Jone's." It cost an awful lot of debt to keep up an image.
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Old 04-11-2013, 04:24 PM   #14 (permalink)
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Originally Posted by Greenmtnphantom View Post
I've found a car I'm going to look at that will basically extend the exact same payments I am making now out another 3 years but put me in a 1 year old car.

Really with two outlooks so different just in my household I was curious what other peoples takes on it are.
If you find yourself extending payments (trading cars in before their payed off) seriously look at leasing. It makes sense if your miles are under 20k a year. You can lease no money down in the low $300s depending in the car and mileage. Lease something that includes maintenance.

I've worked as a car salesman and have owned and sold a bunch of my own over the years and if your car is not a hobby their should only be 3 options:

Lease

If you exceed the miles where a lease makes sense buy new or almost new (brand certified used) and drive it into the ground, like over 200k miles. On that note buy a car that will make it their (I.e. no turbos, proven engine design, timing chain rather then belt, as little extra power this or that as possible or other extras that break).

If at any point you trade this car in before its paid off or it got up to some high mileage you defeated the purpose and should of leased. Ignore the low monthly payment and go with the option with the least amount of interest. Don't buy a car for the monthly payment, as an ex car salesmen that's how we **** you.

If you can maintain it yourself and you don't need to rely on your car (I.e. second vehicle, city car, etc) pay cash for something cheap.

Anything other then these options your really throwing your money away. Cars are an expensive hobby and should be treated as such if you fall outside these options you better have the discretionary income for it and you better enjoy it.

I love cars but I just sold my last one this year and at $100 a month for a public transit card to get to work you can't beat that value. When I have some extra cash I'll buy a toy again. If I need a car I have a zipcar lot close by. This brings up a fourth option, live and work in a major city.

Last edited by boo; 04-11-2013 at 04:32 PM.
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Old 04-11-2013, 05:04 PM   #15 (permalink)
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I just got my third vehicle and here's my opinion.

I could afford to get a loan and make a payment on a new vehicle every month if I wanted too. Or I could save up and buy a good car that I can pay cash for. I bought my Jeep XJ back in November of 2011 and dropped over $3k into maintenance costs so I decided it was time to find something a little more economical(even though I loved that Jeep). I saved up a little under $3000 and sold the Jeep and looked for a new vehicle. I found a 2005 Chevy Cobalt with 97,000 miles on it for $4500. It was in decent shape and had been maintained, and as a student car it's been great for the last month I've owned it. A/C and heat, cruise control, power everything, a nice stereo. I consider it a nice car, and it was a fraction of the price of a new car.

As far as safety goes, I'd feel safe driving anything made within the last 10 years, maybe even the last 15. Sure, maybe a new car is a little safer, but that's not to say an older one is dangerous.

I've got cash in the bank and a good little car that I can drive back and forth to school for very cheap(1000 miles takes just under 3 tanks that cost $36 each). When does it come time to replace? When maintenance costs more than it would cost to buy a new car. I'd rather drive a 1988 Nissan Sentra that runs perfectly than a 2013 Cadillac that breaks down every two weeks.
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Old 04-11-2013, 05:08 PM   #16 (permalink)
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Quote:
Originally Posted by boo View Post
If you find yourself extending payments (trading cars in before their payed off) seriously look at leasing. It makes sense if your miles are under 20k a year. You can lease no money down in the low $300s depending in the car and mileage. Lease something that includes maintenance.

I've worked as a car salesman and have owned and sold a bunch of my own over the years and if your car is not a hobby their should only be 3 options:

Lease

If you exceed the miles where a lease makes sense buy new or almost new (brand certified used) and drive it into the ground, like over 200k miles. On that note buy a car that will make it their (I.e. no turbos, proven engine design, timing chain rather then belt, as little extra power this or that as possible or other extras that break).

If at any point you trade this car in before its paid off or it got up to some high mileage you defeated the purpose and should of leased. Ignore the low monthly payment and go with the option with the least amount of interest. Don't buy a car for the monthly payment, as an ex car salesmen that's how we **** you.

If you can maintain it yourself and you don't need to rely on your car (I.e. second vehicle, city car, etc) pay cash for something cheap.

Anything other then these options your really throwing your money away. Cars are an expensive hobby and should be treated as such if you fall outside these options you better have the discretionary income for it and you better enjoy it.

I love cars but I just sold my last one this year and at $100 a month for a public transit card to get to work you can't beat that value. When I have some extra cash I'll buy a toy again. If I need a car I have a zipcar lot close by. This brings up a fourth option, live and work in a major city.
The problem with a lease is that once you've ended your lease, you don't have anything to show for it. Something to keep in mind.
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Old 04-17-2013, 03:41 PM   #17 (permalink)
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When the frame would need repairs in order to be driveable / safe I call it done. On my wife's 2005 Impalla (200K+ miles) I expect that will be five-ten years from now. I intend to replace that car when my now 13 year old daughter can drive, give it to her, and get my wife something else. On my 2004 Silverado (180K+) I expect that to be.... well I expect that one to last until my next daughter is driving (my wife is due in August). I expect both will need some light body work but I don't even consider buying a car that is not a few years old and over 100K miles - let someone else take the majority of the depreciation.

That being said I own a shop and can borrow any of the cars off the used car lot should I need them / want something else to go on a long trip with. My viewpoint on repairs is likely far different from most.
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