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Old 11-26-2014, 03:39 PM
 
587 posts, read 653,181 times
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I keep them until they can't be fixed. I currently drive a 17 year old car that I've owned for ten years right now. I really hate car shopping.
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Old 11-26-2014, 04:42 PM
 
Location: Rochester NY
943 posts, read 678,995 times
Reputation: 1374
I bought a 2012 Ford Escape at the end of 2011 and plan on keeping it at least 8-10 more years as long as it holds up, which I expect it will.
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Old 11-26-2014, 04:55 PM
 
1,789 posts, read 1,734,790 times
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I find the replies to this topic interesting. It seems the majority keep their vehicles a long time. I sure see a lot of people around town driving new vehicles. Many are younger and I always wonder how they afford them.
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Old 11-26-2014, 04:59 PM
 
Location: Pittsburgh
7,542 posts, read 8,107,706 times
Reputation: 3468
Bought a 91 Cavalier in 1992, bought a 95 Roadmaster in 2000, bought a 2008 Lucerne in 2010.

8 to 10 years, probably be looking for another car in 2018 to 2020
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Old 11-26-2014, 05:03 PM
 
9,368 posts, read 11,230,712 times
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Quote:
Originally Posted by itsMeFred View Post
In what situation is leasing ever a better financial decision than buying?


ETA: Before anyone gets bent out of shape, I honestly don't care how they spend their money. But if we're talking sound financial decisions, leasing isn't usually one of them…

Easy.....when the cars are subsidized leases from the manufacturer! The manufacturer inflates the resale expectation so the car lease price is cheaper than if you really factored the true value at the end of the lease.

For example:

I leased an Audi A8L in 2004. $83,000 car for 39 months/48K miles for $1054 a month including tax. So I agreed to spend $41,000 to borrow their car for 3.25 years. The lease end value was expected to be 52-53K (I can't remember specifically) so the payment and the interest was the 41k I paid.

Reality hits 39 months later, car is worth 30K in real value. So if I bought it I would have lost $53,000 buying that car vs. the 41K I spent leasing it. Car was great, I paid the lease and put a set of tires on it....that's it!
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Old 11-26-2014, 06:59 PM
 
Location: Pittsburgh
7,542 posts, read 8,107,706 times
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Quote:
Originally Posted by itsMeFred View Post
In what situation is leasing ever a better financial decision than buying?


My uncle, now deceased, bought and owned large Buicks his entire life. Kept them 8 to 10 years, and then went for a new one.

When he was 97, he decided that he would quit driving at age 100. So he signed a 3 year lease on a new car.

Worked out well for him, as he didn't plan on driving the car for long enough to justify a buy.
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Old 11-26-2014, 07:12 PM
 
12,407 posts, read 9,256,888 times
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Quote:
Originally Posted by itsMeFred View Post
Maybe. Assuming you buy brand new…
But even then, there are better options, from a financial stand-point.


Mostly, leasing is convenient. That's why most people are willing to take the financial hit to do it. Well, for those that understand the math, anyway. (Like I said before, a lot of people are just bad at math and haven't really calculated this stuff out.)
People often don't want to do their "homework" when it comes to buying used cars - that's the issue.
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Old 11-27-2014, 10:47 AM
gg
 
Location: Pittsburgh
17,034 posts, read 17,260,013 times
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If I like the vehicle 10 years, if I don't I sell it pretty fast. My current car is an Audi A4 with 125,000 miles on it and I still love this car, so I expect to keep it for two more years. It still drives as new and has given me no issues other than one A/C issue that was fixed pretty cheap. I plan on getting another used Audi A4 or A5 if I can find one with a manual tranny.
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Old 11-27-2014, 11:07 AM
 
5,387 posts, read 6,286,966 times
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Indefinitely and/or as long as possible, until it can no longer successfully run...I do tend get to rather attached, to my vehicles
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Old 11-27-2014, 11:10 AM
 
Location: Pittsburgh
7,542 posts, read 8,107,706 times
Reputation: 3468
The cheapest car to own is the one which is already paid for. Older cars without a note to pay can also be driven without expensive comprehensive and collision insurance, just liability.

I don't know why people think they need to be paying monthly on a vehicle, and get antsy for something new as soon as the bank mails them their title, if not sooner
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