Posted on 08/31/2007 10:27:15 PM PDT by 2ndDivisionVet
By keeping your car for 15 years, or 225,000 miles of driving, you could save nearly $31,000, according to Consumer Reports magazine. That's compared to the cost of buying an identical model every five years, which is roughly the rate at which most car owners trade in their vehicles.
In its annual national auto survey, the magazine found 6,769 readers who had logged more than 200,000 miles on their cars. Their cars included a 1990 Lexus LS400 with 332,000 miles and a 1994 Ford Ranger pick-up that had gone 488,000 miles.
Consumer Reports calls the Honda Civic a "Good bet" to make it to 200,000 miles.
Calculating the costs involved in buying a new Honda Civic EX every five years for 15 years - including depreciation, taxes, fees and insurance - the magazine estimated it would cost $20,500 more than it would have cost to simply maintain one car for the same period.
Added to that, the magazine factored in $10,300 in interest that could have been earned on that money, assuming a five percent interest rate and a three percent inflation rate, over that time.
The magazine found similar savings with other models.
To have much hope of making it to 200,000 miles, a car has to be well maintained, of course. The magazine recommends several steps to help your car see it through.
Follow the maintenance guide in your owner's manual and make needed repairs promptly.
Use only the recommended types of fluids, including oil and transmission fluids.
Check under the hood regularly. Listen for strange sounds, sniff for odd smells and look for fraying or bulges in pipes or belts. Also, get a vehicle service manual. They're available at most auto parts stores or your dealership.
(Excerpt) Read more at money.cnn.com ...
2000 Chevy S-10 here with a 165,000 miles on it. Besides the brakes, tires, oil, and a battery, nothing major.
I had 2, count 'em 2, stolen some years ago, got VIN's? I check every one I see. I figure I'll come across them at some point. Blackbird.
You haven’t LIVED till you change the starter on a mid 80’s S10!!
But hey, if everything was easy, it wouldn’t be worth doing, right?
$200 a month car payment? That was in the 1980's
Have some fun and pretend to go buy a new car one weekend
You are looking at anywhere between $350 to $600 a month for a modest vehicle
My 1995 Ford Escort wagon turned over 270k yesterday. My wife used it to drive around town for a few years and then I got it when my GEO Prizm died after 200k.
Luck...and timely oil changes...go a long way.
That garage is WAY TOO CLEAN and uncluttered!!!!!
I am with you. I don’t want to drive an old car no matter how well maintained. I never want to be stuck on the side of the road with an unexpected break down, too risky in todays world.
ping
Ummm... that’s why they make those wrench thingies...
“I drive a 2000 car and it is fine for me, but if I wasn’t concerned about the money why would I skip seven years of modernity?”
My 67 Camaro goes from point A to point B in the exact same time as a 2008 Lexus. Cost to change a master cylinder < $100. Alternator < $100 and can be done in 25 minutes.
Sweet ride. I love 80s BMWs. The silver car had the suspension and engine gone over a Dinan some years ago. akes for a lot of fun in a big car.
Almost repair free until last week. Had to put $1,000 in it.
I have a 2002 Chevy Blazer with 120,000, and still drives like new, and is the absolute best rig in the snow.
I had a 1985 325i and intented to drive it a million miles, but alas a divorce did away with it first.
LOL! Oatmeal cookies w/raisins, please!
I understand where you are coming from. Here’s the deal. All of my cars are the older vintage,I have toolboxes in each one.
Now if a newer rig breaks down (it DOES happen), then you:
Call your onstar thing to get a tow..
Wait at the auto shop for them to plug it into the Cray supercomputer
Wait for the ethernet WAN to get established to some outfit in Malaysia
Have them run the diagnostics
Sadly discover that the link to the ordering joint is down so they can’t order your part from Bulgaria for the next two days
Get to come back in two days, pay $320.00 for the part, and another couple C’s to get it put in.
Now I go to the auto parts store, put $39.00 on the counter for a new alternator (plus tax, can’t cheat the governor), drive home and 45 minutes later, it’s in.
Now I don’t HAVE to fix my stuff if I don’t want to. Somebody else could do it, but I chose to do it.
With the new stuff... you HAVE to let an authorized dealer/technician do it. Or you will either void the warranty or mess it up so bad you might as well junk it.
My apologies. I tend to put things into a single-guy-who-takes-everything-apart-and-puts-them-together-better perspective.
If one takes a modicum of care in maintaining vehicles, they may be old, but they will NOT be "crappy". My Integra (1992) has 134K miles on it, and the interior is as good as the day it was new. The exterior paint faded a bit, and I had that redone, but otherwise it's as good appearance-wise as the new Toyota Corolla S that I just bought for my wife.
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