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Drive your car to death, save $31,000
CNN Money/Consumer Reports ^ | August 31 2007

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 ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: automobiles; automotive; car; economizing; frugality; gasoline; oil
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To: djf
Oatmeal raisin are my favorite too. ;9)

Seriously, I have not had a breakdown in 20 years so I don’t know how it works . I have the routine maintenance done, oil change, a/c filters, oil filters etc at one of those drive in places and trade for a new Tahoe ever 70,000 miles. I never have to go to the dealership except to get another new one every 3 to 4 years. It works for me.

121 posted on 09/01/2007 6:53:49 AM PDT by Ditter
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To: freekitty
My 1998 Mercury Grand Marqui is really nice. Palomino leather seats, white with tan half top. All tricked out...

-----------------------------------------------

Buy it from Huggy Bear?

122 posted on 09/01/2007 6:56:02 AM PDT by wtc911 ("How you gonna get back down that hill?")
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To: 2ndDivisionVet

We agree with that. To us a five year old vehicle would be practically brand new. My husband drives a ‘95 Ford pickup and I drive a ‘93 Chevy blazer. For an an occasional new car thrill we rent glamour cars when out of town on business or pleasure.


123 posted on 09/01/2007 6:56:06 AM PDT by Irish Queen (Nevada Gal)
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To: ejonesie22
I also have a silver 1991 e30 M3, it corners better... the 1988 e28 M5 is indeed much faster on the top end though and I prefer it over the e30... It is so much more comfortable to drive on a long trip.

I also have a Porsche 914-6 a lot like this one, in the original darker yellow color... it is not comfortable to drive at all... but it is fun...


124 posted on 09/01/2007 6:56:31 AM PDT by Sir Francis Dashwood (LET'S ROLL!)
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To: Timbo64

The BMW 2002: the sweetest car ever made.


125 posted on 09/01/2007 6:58:47 AM PDT by ElCommandante
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To: Extremely Extreme Extremist
Cars are not an investment. They depreciate over time.

My old Chevy Vega never depreciated and retained its full value.

It was not worth anyhing the day I foolishly bought it in 1974. :-)

126 posted on 09/01/2007 7:00:28 AM PDT by Polybius
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To: 2ndDivisionVet

Oh man...I love those cars.


127 posted on 09/01/2007 7:01:16 AM PDT by I got the rope
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To: 2ndDivisionVet
We live the philosophy of "The Millionaire Next Door". Our cars are eight and nine years old. We are replacing one now and one in the spring. They both have life in them but as another freeper posted there have been technological advances (especially in safety) that warrant the expense.

I teach my kids that if you can afford a $40k car buy one for $30k, if you can afford a $30k car buy one for $24k, etc...

I could buy a Lexus or Benz easily but the Honda Odyssey looks just fine (yeah, I'm a mini-van geek - couldn't care less about who think what - I can throw sheetrock, shrubs or a surfboard in it)

128 posted on 09/01/2007 7:04:23 AM PDT by wtc911 ("How you gonna get back down that hill?")
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To: TexasRedeye
HEy! Nice polish job on my car.Mine has 53K,its just driven on special days.(Have intermittent ignition problem,am going to replace parts when over trauma of this summer's vehicle purchases.)

And double Hey!!I have been mystifying people for years with little desk sign "eschew obfuscation";never had anyone who recognized and knew the meaning.

129 posted on 09/01/2007 7:06:54 AM PDT by hoosierham (Waddaya mean Freedom isn't free ?;will you take a creditcard?)
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To: 2ndDivisionVet

Ditto. ‘85 300D. I’m at 227,000, and hope to get a lot more.


130 posted on 09/01/2007 7:07:20 AM PDT by B Knotts (Anybody but Giuliani!)
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To: Right Wing Assault
I had a ‘90 Grand Caravan CV (cargo van)... retired it 3 1/2 years ago with 409,000 miles on it.

Replaced the tranny twice... the second time was my fault. If you have an A604 4 speed auto you MUST use Chrysler specific tranny fluid.... and you MUST change the tranny fluid and filter every 30,000 miles. So I guess BOTH tranny problems were really my own fault.... first I never changed it (from 122,000 when I bought it until 250,000) and then I used the wrong fluid (at 285,000). Broke a rocker arm shaft at 292,000... it was over torqued at the factory. Had the engine swapped out, kept on going. Replaced the radiator twice, lots of tires, a couple of batteries, otherwise just routine maintenance.

Finally retired it as the body was rusting out too bad... northern Michigan winters will do that to you!

I do almost all my own maintenance... that way I KNOW the status of most things on the vehicle. I’ve seen all too often things that get missed by shops... they are there to do what you tell them to do... hopefully they mention to you other things that they notice, but this often doesn’t happen.

If you don’t do it yourself, the best idea is to develop a long term relationship with a good private mechanic.... and hope you never have trouble on a long trip away from your home area.

131 posted on 09/01/2007 7:07:57 AM PDT by NorthernTraveler
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To: 2ndDivisionVet
I have no clue how many miles there are on my 1948 Harley. I'm on at least the 4th speedometer.



My 1966 Vespa is pretty cheap to run too.

132 posted on 09/01/2007 7:08:07 AM PDT by Poser (Willing to fight for oil)
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To: 2ndDivisionVet

BTW, I also have a ‘90 Lumina with 210,000. I need to put a new battery in it, but otherwise, it still runs.


133 posted on 09/01/2007 7:08:24 AM PDT by B Knotts (Anybody but Giuliani!)
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To: Alex Murphy

My first car was a ‘75 Scirocco. Both the gas guage and the odometer were broke, so it was a bit of an adventure to figure out how much fuel was in the tank. I don’t remember the mileage but it was real high. I sold it to a guy in college. He said it cracked in half one day sitting in his driveway.

Currently I have a ‘97 Plymouth Voyager with 186,000 miles and a 99 Chevy conversion van with 138,000. I have the minivan with a passion but try as I might, I cannot kill the beast. I’ve never sold a car for more than $1,000 and done very well buying 2-3 year old very high mileage cars. I’ve had a couple transmissions rebuilt, but when your father in law is a trans mechanic, that’s not a real huge deal.


134 posted on 09/01/2007 7:08:40 AM PDT by cyclotic (Support Scouting-Raising boys to be men, and politically incorrect at the same time.)
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To: Ditter

My recommendation would be to have an extra set of keys, and keep them in your purse. Here’s why.

With the older vintage stuff, you can tell when somethings not right. Some odd noise, a lack of power, soft brakes. Something. The older stuff usually doesn’t just die when you’re tooling down the freeway. If you know your rig, you usually have plenty of warning.

The newer stuff also usually doesn’t just die on the freeway. But you have a different problem. If you shut it off, and somethings wrong, lotta times, it just AIN’T GONNA START.
You’ll get a couple pretty lights on the dash telling you something cryptic about what’s not going on, after that... nothing.

So if you are off the beaten path, and suspect there is something wrong with your vehicle, and HAVE to stop for a few minutes, you are way better off just leaving it running and lock it. If you shut er down, then all bets are off!


135 posted on 09/01/2007 7:09:09 AM PDT by djf (America welcomes immigrants! Sadly, America welcomes crimmigrants even more...)
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To: 2ndDivisionVet
My wife and I go both ways :)

2002 Toyota Highlander w/113000 miles on it and paid for and will be my sons vehicle when he starts driving in 3 years or so,and we just ordered a new Saturn Outlook with some nice bells and whistles on it (Diamond White Tricoat-polished aluminum 19" wheels). We will purchase via our home equity and write off the interest. This vehicle will be my daughters car when she starts driving in 6 years.

136 posted on 09/01/2007 7:11:41 AM PDT by oust the louse ("NEVER LET THE ENEMY PICK THE BATTLESITE".....General George S. Patton,Jr.)
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To: djf

Good advice, thanks.


137 posted on 09/01/2007 7:13:28 AM PDT by Ditter
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To: 2ndDivisionVet

Outstanding article for your fiscal health. My 1980 Ford Fiesta was over 170,000 miles before I sold it for a Honda that went over 200,000 miles. My next Honda went to 294,000 miles. My current Honda is at about 256,000 miles and running GRRRREAT! Thats 4 cars in 27 years and a tremendous amount of $$$$$ saved on gas. Each car NEVER needed any major repairs. Brakes, alternator, recommended timing belt replacement were the largest repair bills and I always did the brakes (and sometimes alternator) myself. Transportation and fuel costs have never eaten up a large percentage of my income.


138 posted on 09/01/2007 7:13:43 AM PDT by PGalt
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To: djf

That’s a good point. My 300D is almost like an extension of my body that way.


139 posted on 09/01/2007 7:14:01 AM PDT by B Knotts (Anybody but Giuliani!)
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To: 2ndDivisionVet

bump for later


140 posted on 09/01/2007 7:17:46 AM PDT by OldCorps
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