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Just for discussion purposes, I buy new cars pretty often...every four years or so. I know it's not the greatest idea economically speaking, however, I get much more money selling my older car. I need reliable transportation and I don't have to worry about replacing my tires, etc. Plus, I just really like the feel and look of a brand new car. Economists will say I am crazy. I also don't believe in buying used cars because, well you just never know. My sister insists on buying used cars because of their depreciation, but they always seem to be in the shop for something, which to be kinda balances the car note that I pay. Does anyone else out there do what I do, or am I the only one?
My used cars have lasted just as long as my new cars, and with the same amount of repair/downtime, so for me there's been no difference. My current car is an '06 purchased a year old, and it still smelled new when I bought it. It had only a six-month warranty instead of a two- or three-year warranty, but that has turned out to be a non-issue.
I subscribe to the Click and Clack theory of owning a vehicle: Buy a new car and make it last 10 years, buy a three-year-old car and make it last seven; buy a seven-year-old car and make it last three; buy a nine-year-old car and make it last one. Only one car has lasted 10 years, but other than the horrid 1983 Mercury and the 1994 Honda that was totaled, I've kept my cars seven to 10 years.
I buy new cars pretty often...every four years or so.
I need reliable transportation and I don't have to worry about replacing my tires, etc.
Plus, I just really like the feel and look of a brand new car.
Does anyone else out there do what I do, or am I the only one?
Clearly many do and for most of the same basic reasons.
If you didn't... no one else would have used cars to buy... right?
The moderating issue is how much you pay relative to income/assets.
If you can afford $X for the Chevy then it's not an issue... until you go to the Benz.
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I also don't believe in buying used cars because, well you just never know.
There are some people (like mechanical incompetents or high mileage drivers) who really
shouldn't have used cars... and others who really don't need anything more than one.
Like Harry Callahan said... A man needs to know his limitations.
No, economists will say that you are being perfectly rational so long as you understand and accept the implicatons and consequences of your decisions. Which seems to be the case.
Just for discussion purposes, I buy new cars pretty often...every four years or so. I know it's not the greatest idea economically speaking, however, I get much more money selling my older car. I need reliable transportation and I don't have to worry about replacing my tires, etc. Plus, I just really like the feel and look of a brand new car. Economists will say I am crazy. I also don't believe in buying used cars because, well you just never know. My sister insists on buying used cars because of their depreciation, but they always seem to be in the shop for something, which to be kinda balances the car note that I pay. Does anyone else out there do what I do, or am I the only one?
Some day you may decide for yourself that you were crazy to engage in the behavior you have described.
If you understand that it will cost you more to buy every 4 years (vs. keeping a car a long time and maintaining it well)...if you are OK understanding that, then there is nothing wrong w/it.
Yes, I am aware that it is costing me more. Something about knowing my car is going to start in the morning is important to me. I grew up in a household where we were extremely poor and our cars were always broken down. Oh, I failed to mention that I don't buy new houses, only used ones because I think that new homes are overpriced. Go figure.
I buy new cars pretty often...every four years or so.
This sentence just doesn't make sense to me; I would not call "every four years" often at all. I know someone who buys new cars every 4-6mo, but puts 20,000+ miles on them in that timeframe.
You could improve by buying gently used (1yr or less with maybe 5,000mi), but that might or might not be possible, depending on the kind of cars you buy. If you buy cars that fall in the luxury or sporty category, I would highly recommend looking at some lightly used cars. Over four years, you'll save yourself a good 5k, give or take a little depending on the make and model.
I can understand your fear of cars falling apart, but that really has less to do with whether it's new or used. Go for brands which are known for quality, reliability, and good maintenance/warranty coverage. CarFax reports can also offer great piece of mind.
It's a matter of personal choice. Some people derive pleasure from new things, and cringe at the thought of embracing some one else's discards. Others scratch the frugality-itch by taking advantage of the previous owner's paying for the depreciation. Still others hope for a used-car bargain, only to find themselves with a costly lemon.
I won't profess great mechanical skill, but I'm reasonably adroit with the basics, and for various reasons prefer older cars... much older cars, as in 20+ years old. My current car is a 1991 model, which has rust and a smattering of electrical and mechanical setbacks. I drive it regularly between Ohio and the East Coast, sometimes breaking down and relying on AAA Premier for those 200-mile tows. But I travel alone, have nobody depending on me, and am prepared to deal with the embarrassment and lost-time. It's a choice. The car cost me a week's pay - literally; and it's an emerging classic. Others would scoff that this is a combination of parsimony, foolishness and ostentatious repudiation of the consumer ethos. Well, they have a point. But we all derive our pleasures in our quintessentially personal ways. The OP prefers new cars, whereas I prefer jalopies. The key is to establish one's purchasing decisions to properly fit one's lifestyle and values.
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