Do you all trade in vehicles? lease? drive until wheels fall off?

[Remobz]

Hey all,

I knew a person in Florida that always traded in his car every 2 years. He always had that new car smell and look.

So what do you guys prefer? Lease a car and trade it in every 2 or 3 years?

Just buy it outright and drive it until wheels fall off or sell it after 5 years or so?

Edit*************

What about buying a used car? I am sure there are good deals on used cars that can last a person for 5 years or so?

Are used cars in good condition (this is important) an option to any of you at all?

 

[EagleKeeper]

10-15 years and then pass it on to a grandkid or Craig it. Depends where I am when a replacement arrives. I am not shipping it. If they want it, come and get it.

Wife goes 5-10.

 

[jlee]

'86 MR2 - traded towards my '91
'98 Tacoma - sold back to Toyota (frame recall) after 2.5 years
'05 Tundra - sold to a dealer after 3 years
'00 SV650 - sold to some dude via Craigslist after 3 years
'04 Forester XT - sold to ViperGTS after 2 years

All of the above were bought used - Tundra and Forester from dealers, the rest private party.

I've had my '91 MR2 for just over four years now. I'll be keeping it for a while. '99 Tacoma was a private sale and I'll probably keep that as well. '04 CTS-V was a private sale..on the fence with that one.

 

[HarryLui]

I've never traded a car, never leased a car, and never drove until the car's wheels fail off.

I've drove and sold 5 cars, most on Craigslist.

 

[Jumpem]

I generally drove 30k miles per year. So I would trade in around the three year mark just before the 100k mile extended warranty was up.

Now that I moved, and drive half of what I did previously, I will probably lease next time.

 

[jagec]

I've always bought used cars, usually on the cheap end of the market. I inspect them thoroughly and do all of my own maintenance. They've been great to me. Many of my friends who bought new or newer used cars have had much more mechanical trouble.

My fiance is still driving the 97 Civic that she got (new) in high school. It should still have at least a few more years left in it, and then she'll probably want to buy a new one and drive it for another decade at least.

I can't imagine buying new cars over and over. Far better to have the extra money in the bank.

Cars I've owned and what I paid:
83 BMW 325e -$1500
89 Toyota Celica ST -traded the BMW
89 Toyota MR2 - $2100
90 VW Golf -$1400
84 Toyota van - $500

 

[MrA79]

I generally keep mine until maintenance costs\time outweigh the hassle of having a newer car payment.

 

[thedarkwolf]

I buy old cheap cars with cash and don't have car payments. Some I've kept a year and some I've driven into he ground. Currently have a 95 miata that cost me $2200 about 3 years ago and an 03 pontiac vibe that I bought for $2200 early this year to replace an 89 dodge caravan that I bought for $800 and kept for nearly 13 years lol. I only drive around 7-9k miles a year so I don't see much point in spending a lot of money on my cars. You don't have to spend a lot of money to get a car in good condition.

 

[ultimatebob]

I tend to get a new one every 5 years or 90,000 miles, whichever comes first.

I kept the '07 Mini, though. It's a fun toy!

 

[Spicedaddy]

I buy used cars and keep them for 2-3 years. I like change once in a while...

 

[JackBurton]

I buy the car I want new, take care of it, and keep it for years.

 

[Greenman]

Buy new, drive it for a quarter million miles or 12 years, give it away and buy another new one.
250k seems to be the point at which things start to break pretty regularly, and after twelve years all the seals and gaskets start to dry out and leak. Because it's for business use, I get to write off around 22k a year, not a bad deal.

 

[Meghan54]

When I was much younger, like 40 years ago, I'd burn through cars about every 6 months....all used. The last new vehicle I bought was 11 years ago, kept it a few months short of 10 years and 250K miles, and junked it when the rear main seal let go and took out the rear main bearing. Wasn't in the friendliest place to die either, 2 miles inside Rhode Island from CT on I-95, pulling a full trailer of household junk.

It's replacement was used, a 2003 Murano, and now I already have the itch for a change, despite the fact we love the Murano. Dunno, old habits coming back, I guess.

 

[nk215]

I bought my cars new. Paid them off and will keep them for years.
97 jeep wrangler sport. This is my hobby car
01 BMW 325i.
06 Porsche cayenne S
I may retire the BMW in a few years and will get something larger or all-electric

 

[thecoolnessrune]

I'm in the stage of my life (young and just out of college) where all I do (all I can do really) is buy used and keep using them till the wheels fall off. I don't buy absolute beaters but instead just the absolute best value I can get for my money.

So far I run two cars for myself and my fiancee, and that is a 1997 Mercury Tracer LS with 145k miles and a 1998 Oldsmobile Intrigue GL with 68k miles.

 

[SyndromeOCZ]

I've actually seen someone's wheel fall off. Never done it myself, though some cars went over 200k miles then had transmissions go and were retired after that.

 

[skipsneeky2]

Picked up a 2006 taurus about 3 months ago,,got it at 99k and now its nearly 109k,not a issue,aim to keep it till it falls apart when its over 200k.:thumbsup:

New car payments are freaking murder,i almost bought a brand new altima but decided on a used car and glad i did too.

Made the move this month from california out to alabama to be near family and since there is no smog,i can really drive till the wheels fall off.

 

[nerp]

Both. Used to buy old. Then started buying new. Have a new car now that i plan to drive into the ground. Tough to say I do one particular thing considering I've been driving for more than 20 years now.

 

[Doppel]

Used to always buy late model used but current two vehicles are leased.

I refuse to consider most of the used cars on the market now, the market is sick and asking too rich a price on late model used. Further, some of the lease and new prices on cars at the moment are fantastic.

Just don't limit yourself to a particular philosophy about buying a car.

I also as I get older want to spend zero minutes of my life working on a vehicle (and I hate paying for repairs). Would rather spend it doing something else frankly.

 

[bononos]

Hey all,

I knew a person in Florida that always traded in his car every 2 years. He always had that new car smell and look.

So what do you guys prefer? Lease a car and trade it in every 2 or 3 years?

Just buy it outright and drive it until wheels fall off or sell it after 5 years or so?

Edit*************

What about buying a used car? I am sure there are good deals on used cars that can last a person for 5 years or so?

Are used cars in good condition (this is important) an option to any of you at all?

What are you really asking here? All the of methods you laid out are perfectly alright.

For someone who can afford it and wants a new car every few years, leasing is the best way to save money.
Driving a car till it dies is the most economical way to own a car, just make sure to service it regularly according to the specs.
To save the most money, buy used 2-3yr old car and drive it until it dies with regular servicing.

But because of rising/unstable fuel prices, changing to a lower fuel consumption car might be worth it.

 

[z1ggy]

Only drove 2 cars. One was a '95 Saturn that was my mom's that I got in 2004, and we traded that in in 2007, for a new (my current car) Subaru Impreza. I have had it for 5 years now and I plan on selling it privately maybe next spring, or right before next winter, so in total, it will be 6 years. I want to sell it b4 I hit the next big maint. point after 60k (I forget what it is, but it's prob 100k).

Next ride will probably be a used lightly used WRX hatch, or if I can find a good deal, a lightly used STi. I was thinking about an A4 or 328xi, but I just don't know if I can risk owning a German car outside of the warranty.

 

[stevty2889]

I buy used and drive them till the wheels fall off (almost literally on my last car).

 

[JulesMaximus]

I generally keep cars for about 4 years but my current car I've had for 9 years and 118,000 miles. It is the longest I've ever owned a car in my entire life. It's just a great car...

Edit-I've owned 7 different vehicles in my life not including motorcycles or cars my wife has owned/owns.

 

[basslover1]

Seeing as I've only owned two cars in my life an 88 Sentra that was handed down from my Dad to my Sister, then to me which lasted till 2004 then it was donated. And I bought my 98 Passat in 2004 w/ 56k miles, I still have it now eight years later with 130k on it. I'll drive that till the wheels fall of, which probably isn't that far away.

 

[Ferzerp]

the market is sick and asking too rich a price on late model used.

I would say it is more healthy and less wasteful. The low price of used cars was never due to any inherent lack of value. It was always due to the market being flooded because the supply was so high. Factors in the last 4 years have corrected that somewhat, but it will drift back to the old state I am sure.

If a car lasts 10 years, and I buy a new one every 3, I'm adding 3 times the pool of vehicles to the used market than demand is going to warrant, and will drive used car prices down.

They were cheap because there were so many. Now there are less and more people want them instead of new. For the time being, the hyper supply has been corrected, and new cars aren't magically twice as expensive as perfectly functional used cars with only slight use. This is really how it should be based on value. It's always that supply has been so out of whack.