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 ...
“Cars are not an investment. They depreciate over time.”
Generally you are right, but there are exceptions. I own two cars that will likely never depreciate any further and only gain value. Granted, one is 20 years old and the other 42.
Two (2) Mercedes-Benz 1984 190D’s - four cylinder diesel with five-speed manual transmission. Purchased new, each has 400,000+ miles ... and they still get 44-46 mpg. Never a major problem.
you meran you want to plug in an ipod ?
you mean you want to plug in an ipod ?
Lately it seems as if things start going south the moment you get it home from the dealer. I do not know how they can afford the warranty problems.
When they are out of warranty get rid of them it's too much of a hassle and fixing cars is not my day job.
BUMP
ping
PeteB570; Get your timing belt checked(probably replace at this point), interference angle valves(piston hits them) can become damaged when it does break. Good time to replace water pump and or anything else that is easier to get at when dismantled to change timing belt.
I use old Fords - first an 82 Econoline van, which I paid 2K in cash; drove it for 8 years and then two years ago donated it and got a 1,270 help some kids, tax deduction. Plenty of repairs, but no payments for a good service vechile. Now an 89 F150 @ 3k cash has taken it’s place. In two more years it too will be a 2K deduction and plenty of tax saving mileage to boot. A great series of Hondas Accords have been the work horse of trips and to -fro work etc. etc. Can’t beat Honda for reliable, low cost for maintence and resale.
Yep, 91 Metro I refer to as my ‘Yugo’ so much my Father thought it was a Yugo. Mileage so good the ‘hybrids’ can’t beat it, yet went out of production because no Democrat will voluntarily reduce their gasoline consumption.
Some say, “Pay the mechanic or pay the dealer.”
Depending on where one lives this is feasible. If you live near Corpus Christi, by the time your vehicle hits 150,000 miles, its engine is liable to fall through a rusty chasis.
In the arid desert, an ‘84 Ford F150XLT is pushing 392,000 with 320,000 miles on a rebuilt engine.
Depending on make and model, repairs may be less expensive. That pickup uses a 302V8 Ford engine, with relatively simple operation. Still has the original U-Joints. Simple maintenance and repainted once. Hard to replace the seats on that model, though.
You should see the number of illegal aliens who eyeball my ride with envy, though.
We have a 1989 Dodge van motor home by Road Trek. It’s seen 47 states and a couple of Canadian provences. It has just over 300,000 miles on it and still going strong. A 318 engine.
I once bought a Mazda with a wankel rotary engine that blew up after 450 miles. The second engine lasted 200 miles. The third blew up at 25 miles. The fourth engine was a charm and It was marking near 50,000 miles when the wife drove it over a cliff. (She’s invulnerable and suffered only a broken hairdo.) At that time it was said the wankel would easily go 500,000 miles.
It still had resale value, though, and a collector bought the wreck for $2,000.
Quietest, most dependable car I ever owned, except for the engine replacement every 200 miles at the beginning.
I figure 11 or 12 years is long enough to keep a car.
There’s still life for someone else to make good use of it.
My cars : A 1993 Dodge Dynasty and a 1994 Chevrolet S-10.
DRAT! I paid too much!
I paid three times that much for my 300D. This weekend I should complete the misc. work on it to put it on the road.
A couple of weeks ago I finally parted with my 1997 Saturn.
It had over 460,000 miles on it.
That was mostly highway mileage on weekdays, but included much thrashing over logging roads on weekends.
LOL! Other than that, Mrs. Lincoln, how was the theatre?
I have 150K on a 2000 Nissan Frontier 4 cyl., next to no repairs, and gets 33 mpg average.
Yep. We have 17 vehicles, 5 on the pavement, all paid off, ranging from 1939 to 1995. Pulling wrenches gets interesting, though.
First car was a Ford (and last ever Ford) then a Buick Centuy that I had for 5 years and loved, then this Pontiac. Other than that Ford I haven't had problems with American made cars and will continue to buy them.
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