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With all the hatred I have towards new car purchases my wife went out and got a new one yesterday. She went to go look at a used vehicle that was $10K and came home in a brand new $30K vehicle. Though I can afford it, I already feel trapped. The $10k SUV would have done the same job and was a better quality vehicle. The new one she bought I consider a throw away and have no desire to drive it, and probably never will. I honestly don't know why people pay a lot for a vehicle unless it is desirable. I would rather pay a lot less for a better quality vehicle with high mileage than a brand new one that isn't of the same caliber. Cars are such a waste of money in my opinion. A cheap used one is as good as an expensive new one. Of course to those who like technology would think differently but I don't like a lot of tech in my cars.
Being an IT professional, I love new tech, especially in cars and trucks. I wouldn't mind finding an older model 4-Runner or a truck, but I would have to add some updated tech in it - at least handsfree bluetooth.
Knowing I "waste" some money buying new cars does not bother me much. I like the more hassle free ownership experience where I don't have to spend as much time with service items (repair, maintenance, etc). I like having newer, fresher designs which I suppose is more a look at me thing. It is what it is. I like that each upgrade sees improvements in both economy and power.
So really, I guess I just find personal value in buying new cars and doing so on a fairly regular basis. At least enough value that I do not mind the monetary "expense" of doing so.
In a semi-perfect world, one would pay the car off within 36 months, keep the car for about ten years, but during those ten years, the owner is making that car payment to themselves. By the time those ten years are up, the owner has enough money to buy the next car without financing.
How is that a perfect world? Or even semi-perfect? That involves driving a 10-year old car. That sounds awful.
How is that a perfect world? Or even semi-perfect? That involves driving a 10-year old car. That sounds awful.
Six figure income, huh?
Well, in a perfect world, teachers and IT pros working in colleges make more than attorneys. But if we can't be in perfect worlds, then in a semi-perfect world, all of us allow ourselves the time it takes to save in full for the next vehicle, all the while still enjoying the current, paid off vehicle. That's pretty much my point.
Yes, absolutely. My line of thinking might even be the opposite, is it worth it to buy a new car UNDER $30k vs a much nicer slightly used one.
I buy my cars new and keep them 10+ years. I am religious with the maintenance and keep them in excellent condition. If I bought used, I could not guarantee the previous owner took such precautions. To get pretty much anything new SUV/Truck 4WD leather V6/V8 you have to spend over $30k.
A cheap used one is as good as an expensive new one.
I do wonder what is going to happen in the next ten years. These new cars have so many gizmos and technology to break. The mechanized hatches, navigation systems etc. It may become very difficult to maintain used cars.
I do wonder what is going to happen in the next ten years. These new cars have so many gizmos and technology to break. The mechanized hatches, navigation systems etc. It may become very difficult to maintain used cars.
Look at the luxury model vehicles that had a lot of this technology, even dating back to ten years ago. How is that technology holding up today? Hopefully the rest of the automakers were able to closely monitor those vehicles for any potential issues that could arise.
I know it's not a great analogy but would you want to try and troubleshoot and find parts for Win95 machine if say the CPU/soundcard/videocard/ram is bad? If you can find that stuff it's probably going to cost you an arm and a leg unless you have a computer boneyard in your basement. The bigger issue is you have so much more stuff to break. I had a 72 f-250, there was like 20 wires under the hood. There isn't a whole lot to go wrong....
What about software updates? You're going to have EOL products at some time. Am I going to have a car someone can steal because of a software exploit that wasn't patched?
I know it's not a great analogy but would you want to try and troubleshoot and find parts for Win95 machine if say the CPU/soundcard/videocard/ram is bad? If you can find that stuff it's probably going to cost you an arm and a leg unless you have a computer boneyard in your basement. The bigger issue is you have so much more stuff to break. I had a 72 f-250, there was like 20 wires under the hood. There isn't a whole lot to go wrong....
What about software updates? You're going to have EOL products at some time. Am I going to have a car someone can steal because of a software exploit that wasn't patched?
Parts supply may not be that bad. For cars, the automakers must have replacement parts on hand for a set amount of time (which I think might vary by state). Most keep suppplies longer, until they are not getting business anymore selling replacements. Then they sell them off wholesale, which typically means some outfit grabs them up and continues to offer them.
10 years down the road, finding a replacement tech part should be no different than a mechanical part. Probably the same at 20 years. Beyond that, it might become more difficult but then most cars do not go much past 20 anyway outside of collectors and hobbyists.
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