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re: Ride your vehicle till the wheels fall off, or sell it off before it depreciates too far?
Posted on 6/4/17 at 9:33 pm to Yaboylsu63
Posted on 6/4/17 at 9:33 pm to Yaboylsu63
My wife has an 04 trailblazer with 310k miles on it. I Put New Carpet And Leather seats in it at 200K. I also replaced most wear parts, fuel pump, water pump, fuel injectors and so on.
I rebuilt the front end at 300K. It still looks basically new and is very reliable. I might change out the engine wiring harness next. I'll spend a "car payment" on it about twice a year. She could probably drive it forever. I can imagine it will rust away any time soon
I rebuilt the front end at 300K. It still looks basically new and is very reliable. I might change out the engine wiring harness next. I'll spend a "car payment" on it about twice a year. She could probably drive it forever. I can imagine it will rust away any time soon
1
Posted on 6/4/17 at 9:36 pm to Yaboylsu63
Drive it until the wheels fall off then sell it for whatever you can get for it. If you sell it now for let's say $7k.. But can get 5 more years out of it. The amount you sold it for might might equal almost the amount you would pay on the note, in a year.
Posted on 6/4/17 at 10:01 pm to Yaboylsu63
I drive them until the wheels fall off or it becomes too expensive to fix. It's simply transportation to me, and not a status symbol. I take pride in having gotten 482k miles out of my last vehicle, and just broke 300k on my current one. No one maintains or works on then but me. My wife, on the other hand, will always have something comfortable.
This post was edited on 6/4/17 at 10:03 pm
Posted on 6/4/17 at 10:04 pm to cbtullis
quote:
What kind of truck is it? That makes a huge difference when it comes to resale value. A 2011 Tacoma or Tundra will be worth a hell of lot more than a F150 or Silverado
Meh
It depends on if the vehicle is 4x4 or not.
That's why I buy 4 wheel drive trucks even though I really don't need it. You pay a few grand more, but you get it back on resale anyway
Posted on 6/4/17 at 10:42 pm to weagle99
How many miles above 100k do you keep them?
Posted on 6/4/17 at 10:44 pm to Yaboylsu63
I am a drive till the wheels fall off guy...most vehicles held until 180,000-200,000 so not a lot of residual value.
Posted on 6/4/17 at 11:09 pm to Yaboylsu63
I wonder what the research would be on trading vehicles in shortly after getting paid off. I know the mantra is always drive it to the wheels fall off, but, I think there has to be some benefit of
1) always having the best trade in value
2) car almost always under warranty and don't eat big repair costs
3) enjoying having a newer vehicle
4) if you wait til you have a pos you won't make anything on selling, you're stuck with full price on that new vehicle and not much trade value
5) really don't have to worry much about repairs at all
1) always having the best trade in value
2) car almost always under warranty and don't eat big repair costs
3) enjoying having a newer vehicle
4) if you wait til you have a pos you won't make anything on selling, you're stuck with full price on that new vehicle and not much trade value
5) really don't have to worry much about repairs at all
Posted on 6/4/17 at 11:15 pm to Yaboylsu63
A rule of thumb I've been doing and like:
If your car is paid off, set that payment aside. Barring a total loss event, do not buy a car until you have at LEAST enough to pay 40% of desired new one. As long as you keep it within that restriction, you'll be fine, and come ahead every single day you can buy a new one but don't.
Repeat.
If your car is paid off, set that payment aside. Barring a total loss event, do not buy a car until you have at LEAST enough to pay 40% of desired new one. As long as you keep it within that restriction, you'll be fine, and come ahead every single day you can buy a new one but don't.
Repeat.
This post was edited on 6/4/17 at 11:17 pm
Posted on 6/5/17 at 12:02 am to Yaboylsu63
If you trade in as most people do you will get bottom dollar for your trade in All the more reason to:
DITTWFO!
DITTWFO!
Posted on 6/5/17 at 12:26 am to Yaboylsu63
Vehicles are the bitcoin of assets. Just hold onto it.
Posted on 6/5/17 at 12:44 am to Yaboylsu63
I'm in a 13 year old Tahoe with 150k miles and plan to drive it until the wheels fall off, replace them, and wait for those to fall off.
Posted on 6/5/17 at 1:27 am to Collegedropout
I got 265k on my f150, 2002. And for the reason of driving it as long as I can it will pay for my trip to Yellowstone with my son next Tuesday.
I've gotten a lot of good things from keeping this truck.
Don't tie urself down with notes. Get out there and enjoy other things
I've gotten a lot of good things from keeping this truck.
Don't tie urself down with notes. Get out there and enjoy other things
Posted on 6/5/17 at 6:06 am to Yaboylsu63
Drive it til you can't anymore
Posted on 6/5/17 at 6:21 am to Yaboylsu63
I have a 2008 Tacoma with 100K. It's just getting broken in. And was paid off back in 2011.
Posted on 6/5/17 at 6:23 am to Brettesaurus Rex
quote:
always having the best trade in value
Posted on 6/5/17 at 6:31 am to Yaboylsu63
Car notes are for suckers
Posted on 6/5/17 at 6:34 am to Volvagia
Ill be done with my only car note next week. Will be paying myself a note monthly until I can afford to pay cash for a new one.
Posted on 6/5/17 at 6:37 am to Yaboylsu63
quote:
Yeah I understand, part of me wants one of these new fancy trucks that you see around now these days but I have a truck that's paid for now and is still running good. Just don't want to get into debt just because, but it is tempting.
Just do like I do. Pull into a couple of car dealerships and look at a few trucks, see what they are asking and say "frick that", then go put new tires on the old truck.
165k on my 2011 and I just put tires and a windshield. I'm good to over 200k and I paid cash when I bought it new. I don't pay car notes.
Posted on 6/5/17 at 6:47 am to Yaboylsu63
I drive a 99 Ford with almost 200K miles on it. I can buy a newer vehicle but I don't want the payments. My Ford drives great so I don't see a need to upgrade
Posted on 6/5/17 at 6:49 am to Martini
I like your style Martini. I used to swap out every 3-4 yrs but now I'm married and would prefer to keep the wife in somthing that she likes. I've got a 2011 Tundra 4wd w/ 145k. It'll be paid for in a few months and I'm going to do my best to get 250-300. shite on that truck note.
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