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 ...
I had it to 135 once and backed off. The car had plenty left but I didn't.
They don’t build them like they used to. The new ones, while nice will not hold up, not if for any other reason than no one wants to work on them.
The 733 is done, the 745 waits paint and upholstery.
I would drive either across country tonight.
Yes, very nice.
My truck has 140,000 miles which I drive on weekends, but my company forces me to get a new car every two years now. They pay for it so I guess they have a right. I barely get 75-80,000 on it before its gone. It takes a couple of years get to get the seat wore in right.
Looks more like an SVX to me. SRX is the new Cadillac crossover SUV.
"I don't think so, Tim."
Cars are not an investment. They depreciate over time.
>>my 1998 saturn cost me 5,000.00 in 2003. paid for and still going strong.<<
Yep, the way to really save is to not buy new cars in the first place.
Depends on the car and the owner.
1994 Acura Legend Coupe...123,000 miles and plan on another 100,000 easily (hope no tranny problems).....engine is a masterpiece in that thing.
You might be a redneck if you’re still driving the car you were conceived in.
Those body styles will never go out of style. Classic!
By the time a car gets that old and has that many miles on it the risk of an unexpected breakdown (usually coming at the worst possible time) goes up, no matter how well maintained it is. It’s just not worth it to us. When things start going south on a car, it’s time to sell!
I bought a brand-new 2006 Civic coupe right after they came out with the body style. The car had fit and finish problems and a ton of rattles. In addition, the steering and front suspension made strange noises. I ended up getting rid of it in disgust. I thought it was a great design, but built poorly. The problems were probably mostly due to it being from an early batch of a new model of car, but I was surprised to see that type of poor quality coming from Honda. I guess that every company has its share of lemons.
I inherited my Mom’s 91 Olds Cierra. It has required one repair, an overdrive sensor switch. 30 MPG on the highway, and I’m not a slow driver. My newest vehicle is a 99 Chevy pickup, and my oldest is a 78 Chevy pickup. The old one still suns good, but the rust is eating it up. When I buy a new vehicle, I’ll pay cash for it and keep it as long as it lasts.
I have a 2000 Toyota Tundra 4x4 with 90,000 miles on it. It’s got rock dings, scratches all over it, the clearcoat on the roof is blistering, and it’s more comfortable than an old pair of sneakers. Hasn’t cost me a dime in anything but gas, oil, tires, and a battery. I’ll drive it until it croaks. It still rides like a Lexus sedan.
inherited (sort of) a 2000 chevy cav coupe, only has 49,000 miles on it and as it is my first car I will drive it till it rusts out ahd the shocks break through into the drivers compartment.
Again, depends on the car and the owner.
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