Post by
DDWQ45T »
https://forums.nicoclub.com/ddwq45t-u166.html
Tue Nov 12, 2002 4:16 am
Q45Tech is right, there ain't no free lunch! You just need to look realistically at what the car you want to drive's total cost of ownership is over the time you intend to keep it. I think the 3-4 year old luxo cars, if you find one that has been maintained, are about the optimum for a 5 year period of ownership. They don't beat new over a longer period by much, if any, though.
The ability to reduce repair costs by DIY, or parts discounts would have an influence towards the used car part of the equation, but you have to enjoy the work to balance it against what your time might be worth doing something else pleasant of profitable.
As mentioned previously, finance charges, taxes, and higher registration charges are also a negative for the new car option, unless you pay cash, and live in the right state.
It's always interesting to see what approaches the people on this board take to this issue. I used to enjoy doing my own work, and kept older cars because of it. Then I got involved in my career and went through a phase where I wanted to buy new, and keep them 10 years. Unfortunately, I found that I started wanting some of the new gadgets/safety features that were coming out at about the 5 year point. Now I do the 3-4 year old car approach, with the idea of selling in about 5 years. Seems to work for me. (cash, no financing.)
I'm pretty picky about what car I buy (condition, maintenance, etc.) I then go through it thoroughty on a major maintenance, and overkill things like hoses, belts, thermostats, tires, etc, so it is in close to new condition.
Maybe someday money really won't matter, and I'll do 2 year leases on new cars. (yeah right.)