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re: Driving old, crappy vehicles is the way to go

Posted on 4/11/18 at 8:50 pm to
Posted by Picayuner
Member since Dec 2016
3873 posts
Posted on 4/11/18 at 8:50 pm to
I bought a used 98 MBenz 20 k miles in 2000. Paid it off in 4 years and it lasted until nov 2017. That’s 13 years without a car payment. Bought a new car and will baby it and it’ll last 20 years. That’ll be saving 26 years of approx 400 per month. Figure that out - HUGE savings
Posted by Flashback
reading the chicken bones
Member since Apr 2008
8479 posts
Posted on 4/11/18 at 8:56 pm to
I bought a 2002 camry from a friend that moved to a different country.1200 bucks and in decent condition. 48$ insurance monthly and no note. I'll get 2 years out of that hog.
Posted by lsuoilengr
Member since Aug 2008
5473 posts
Posted on 4/11/18 at 9:05 pm to
2000 chevy malibu that I got for free
Posted by Pecker
Rocky Top
Member since May 2015
16674 posts
Posted on 4/11/18 at 9:06 pm to
quote:

Wealthy or not, this is financially a poor decision.
Take the money you waste on vehicles and invest it instead.


I get a kick out of people who say this and then spend thousands of dollars each year for their kids with poor genetics to play "travel ball."
Posted by GeauxTigers2015
Member since Jun 2015
55 posts
Posted on 4/11/18 at 9:06 pm to
(no message)
This post was edited on 11/5/20 at 7:14 pm
Posted by EA6B
TX
Member since Dec 2012
14754 posts
Posted on 4/11/18 at 9:43 pm to
quote:

I bought a used 98 MBenz 20 k miles in 2000. Paid it off in 4 years and it lasted until nov 2017. That’s 13 years without a car payment. Bought a new car and will baby it and it’ll last 20 years. That’ll be saving 26 years of approx 400 per month. Figure that out - HUGE savings


Don't overlook the value of that money invested over 26 years.

$400.00 per month invested at 7% annually for 26 years =

$331,000.00

Average annual return for the DOW has actually been higher than 7% for thelast 26 years.
Posted by DeoreDX
Member since Oct 2010
4381 posts
Posted on 4/11/18 at 10:17 pm to


I inherited my grandfather's car when he passed away 2 years ago. 1999 Toyota Camry with 78k miles on it I kept it at my grandparents house until the house sold then took it home and started driving it daily. I figure I can get 7-8 years out of it at least. Pay my wife's '14 Mazda this year. It only has 40k miles on it. I normally get her a new car when her car hit 100k when I take it over and drive it until the wheels fall off. Don't really care what people think of my old man beige Camry. I take my pleasure in our lake house on the weekends instead of in a depreciating asset I drive around in during the week.
Posted by Napoleon
Kenna
Member since Dec 2007
74900 posts
Posted on 4/11/18 at 10:20 pm to
I'm with you, I bought a $500 car off of here one time and that thing is still going around (not me, sold it for double that) 199 Jetta


I put a few hundred miles a week on a Ford E150 with 276,000 miles now.

My Tacoma has 194,000 miles.

My wife's "new" Expedition has 75k.

I'm not a fan of notes. I would rather buy something still nice. Plus I can fix mechanical issues, so olnly a bad tranny scares me.

Posted by puse01
Member since Sep 2011
3743 posts
Posted on 4/11/18 at 10:23 pm to
(no message)
This post was edited on 11/16/21 at 1:30 pm
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