re: Car Guys: Keep, Sell, or Trade

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Modern cars are engineered to last, if properly maintained, for 200k miles or more before you have to really start doing A/B analysis for repair/replace.

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right, trans rebuilds, A/C repairs, etc never happen before 200k miles. What fantasy world do you live in?

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But what do people do? They start to trade when they go positive in equity, and get a new car - perhaps with an even smaller note (of course with a new 60 or 72 month term) - if they ever get one paid off - look out world - because they miss that car note. So many people barely get out of warranty before they trade in (and often up, because they can "afford" more car, now).

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Not sure why you even mention this? Considering we're talking about having a payment your entire life, I would imagine this was understood.

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Again - I'm not going to revisit that discussion last month where you sought vindication to buy more house they you could really afford. At least that was not for a depreciating asset.

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I didn't seek vindication first off. Second, you still didn't give me any numbers to tell me why it was a better idea to pay rent for 5+ years just to avoid PMI.

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The math is just not on your side here - it can be the right decision to buy a new/newer car. It is just very, very rarely the right money decision - particularly if your existing car is serviceable (and most are out to 18, 20 years, 200k to 225k miles).

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I never said buying a new car every 5 years was a better deal financially, but it is intellectually dishonest to keep saying millions when it isn't after you factor in everything. It's just like the PMI thing from my thread you brought up. Sure, $30-50k sounds like a lot to pay for PMI, until you factor in the $60k plus I didn't pay in rent those 5 years.

You're MO appears to be to only tell half the story to try to make a point.