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 ...
My '05 Silverado has convinced me that what you say is true: hassle-free these last two years, something I'm not used to, but a blessing nonetheless.
Funny thing, I'm not as emotionally attached to this truck as others I've had, yet, it keeps on ticking. I do maintainence myself as before, and almost expect to have a problem someday- as I drive a lot.
I'm beginning to think newer is better, especially if you stay within the maintainence parameters. This little half-ton has earned my respect, to say the least.
Again, depends on the car and the owner.
I don't have an airbag waiting to blow up in my face.
They are built like tanks, fun to drive and rock solid dependable if maintained.
The running joke is I’ll be buried in the silver car. It’s my baby...
I can give you a few. Like the fact I have driven my best friend to the BMW dealership 5 times to pick up his 2006 750 in my 1984 733. The 733 has not been rendered in operable in 23 years and 214,000 miles of driving.
Fellow FredHead, I have 247,000 miles and growing by 500 a week. I paid 2200 for it at 205,000 and have spent less than 400 including oil changes. (trying to find wood)
Seriously, there is real advancement in many parts of our lives, dishwashers, refrigerators, music systems, televisions (monitors?),microwaves, flashlights, cell phones, etc.
Probably the most concentrated area of technology (including what we can’t see, in passive safety systems etc.) is cars. I’m guessing that the difference between a 1993 Lexus, and a 2008 Lexus would be stupid for a wealthy person to ignore.
I hope some day to have a restored BMW 2002 model.
Aww, you got me beat. I’m at 242,000 miles. Mine is maroon with a factory spoiler.
Back in my youth I bought a used 1986 BMW 325.
Still drives great today. Only problem is it needs a new paint job and the odometer quit.
At 228,000 miles. (and that was probably 50,000 miles ago.)
Amazing lil machine. Just plain fun to drive. I’ve since bought a newer one but I refuse to part with the old gray mare...without a doubt the best car I ever bought.
One of my brothers just bought a new BMW 7 Series. The first time I drove it, I felt like I could total it at 100 MPH and walk away without a scratch. I swear that 7 Series at 100 MPH on the interstate makes you feel as if you are going about 40. It is so smooth and stable at high speeds. Now if he would have just bought the V12 version, that would be major fun!
I drove my 77 Scirocco until I was forced into a guard rail by another car. It then had about 150,000 miles and was still going strong.
I always loved driving that car, especially when I was late. I guess it was fahrvergnugen.
Another Saturn owner! I kept my 92 used Saturn until 2002 and 100,000 miles plus. Walked in and bought my first brand new vehicle in 2002. Even the Saturn people get confused when you don’t need to talk about financing! Picked up a VUE and still have it with 85,000 miles on it. I plan on keeping it for another 5 years.
“”One of my brothers just bought a new BMW 7 Series. The first time I drove it, I felt like I could total it at 100 MPH and walk away without a scratch. I swear that 7 Series at 100 MPH on the interstate makes you feel as if you are going about 40. It is so smooth and stable at high speeds. “”
One of my breakthroughs on this car stuff was when I bought a 1973 maverick in 1990 that had a cassette player installed, I had never owned one.
In the late 1990s my female friend had a house in Big Bear, I traveled up there from San Diego several times and thought that it was a long but worthwhile drive.
When she bought a new Lexus, I drove up there at 90 miles an hour (fighting to keep the speed down), then we kept driving around for another 1 and 1/2 hours (the first time) because the ride was not distracting from our conversation at all.
As I payed attention to that car, with soundproofing and other advances that I didn’t know were out there, I started to pay attention to the growth in automobiles.
Now when I watch a movie with the 1960 pickup truck in it, I’m just not so sure anymore.
Sorry, post 57 was mostly meant for you.
Modernity is over-rated.
We have a 1995 Ford Windstar, 240,000+ on it, bought it used three years ago with 105,000. May be on it’s last legs, but it still gets my family around. It ain’t dead yet!
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