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We agree on the Prius, of course. But I think it is supportable that the amortization of new cost vs. actual consumption of the useful life of a vehicle are not coextensive. In fact, I think that if you peg 195k as the useful life and target four year old cars with 50,000 miles, the cost difference will be dramatic. I think about 50% of the original cost will be deflated out of a new car at that 50,000 mile/ 4 year mark for a really good car like a Camry.
Two things that I don't agree with. First, you are going to be hard pressed to get 195k out of most vehicles, especially domestic models and especially in salt country. And if you do, you will be hemorrhaging money, especially after 150k.
Second, the used car market is really much higher than in recent years. Five years ago, I could buy a few dozen Ford Taurus LX for $15k on lease and I would get $5-6K MAX after 3 years and 60k miles. I sent a 4 year old Ford Five Hundred with 105k to auction last month and realized over $7k. That means that some dealer thinks it can fetch $9k on his lot.
Right now, you can pick up a new 2011 Toyota Corolla LE for $14k if you do your homework and shop around a lot. The rental car companies want nearly $13k for a 2009 with 25-30k miles.
Used cars have been a lot higher recently as 1) rental cars are holding their vehicles to 30-40k miles, nearly twice what they used to 2) Corporate fleets have been cut 20-30%, and 3) cash for clunkers weeded out a lot of vehicles.
Up until 2007, I always said to buy used. Since then, I think people should look for the best deals out there in BOTH sides of the lot.
I agree, just need to find a home where people can have a private space other than the bedroom. You can also use the money you save for weekend getaways - It is working great for my family - I know where they are when there is a storm or disaster, the task of cooking. cleaning, utilities, etc is shared. It is also less of a burden if someone loses their job.
There are frustrating moments but that's life - for us - the benefits out weight the negatives.
We agree on the Prius, of course. But I think it is supportable that the amortization of new cost vs. actual consumption of the useful life of a vehicle are not coextensive. In fact, I think that if you peg 195k as the useful life and target four year old cars with 50,000 miles, the cost difference will be dramatic. I think about 50% of the original cost will be deflated out of a new car at that 50,000 mile/ 4 year mark for a really good car like a Camry.
I'm considering buying a Prius for my first new car, not as much for the fuel economy but the right to drive in the carpool lanes to reduce my commute.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,722 posts, read 58,067,115 times
Reputation: 46190
Quote:
Originally Posted by ragnarkar
I'm considering buying a Prius for my first new car, not as much for the fuel economy but the right to drive in the carpool lanes to reduce my commute.
Consider a 'Clean Diesel', you can import 'used ones' into CA, there are folks who will add the necessary 6,000 miles by running them on a rack.
The diesels will easily surpass 200,000 miles and still give you 50 mpg (on free fryer grease if you like... + much less emissions in that mode)
I recently tested a 96 Passat w/ 550k miles and it was still giving 50+ mpg on original engine.
Too Bad CA won't classify my $35 Rabbits as Clean Cars, tho they are... I've never exceeded 10% of the allowable emission limits, even with the junkers running Dino. 20+% Bio-Diesel or straight veggie / waste / peanut oil will bring it as close to ZERO emissions as they can even measure.
50 mpg since 1976, No OPEC, Dinosaurs, or Batteries required
Consider a 'Clean Diesel', you can import 'used ones' into CA, there are folks who will add the necessary 6,000 miles by running them on a rack.
The diesels will easily surpass 200,000 miles and still give you 50 mpg (on free fryer grease if you like... + much less emissions in that mode)
I recently tested a 96 Passat w/ 550k miles and it was still giving 50+ mpg on original engine.
Too Bad CA won't classify my $35 Rabbits as Clean Cars, tho they are... I've never exceeded 10% of the allowable emission limits, even with the junkers running Dino. 20+% Bio-Diesel or straight veggie / waste / peanut oil will bring it as close to ZERO emissions as they can even measure.
50 mpg since 1976, No OPEC, Dinosaurs, or Batteries required
Low gas mileage is good to have but up to a certain point, it really won't make a difference in my quality of life. Reducing commute times by driving in the carpool lanes means less time unnecessarily lost to traffic everyday.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,722 posts, read 58,067,115 times
Reputation: 46190
Quote:
Originally Posted by ragnarkar
Low gas mileage is good to have but up to a certain point, it really won't make a difference in my quality of life. Reducing commute times by driving in the carpool lanes means less time unnecessarily lost to traffic everyday.
Then I would go with the CAMRY CNG, (or Honda CNG). I trust they would deliver the best $/mile over the life of the vehicle. Likely FAR better than a Prius.
I'm considering buying a Prius for my first new car, not as much for the fuel economy but the right to drive in the carpool lanes to reduce my commute.
That is interesting. Not having car pool lanes, it is out of my ability to say how important or unimportant that is. But I can see that it could be a benefit.
Two things that I don't agree with. First, you are going to be hard pressed to get 195k out of most vehicles, especially domestic models and especially in salt country. And if you do, you will be hemorrhaging money, especially after 150k.
Second, the used car market is really much higher than in recent years. Five years ago, I could buy a few dozen Ford Taurus LX for $15k on lease and I would get $5-6K MAX after 3 years and 60k miles. I sent a 4 year old Ford Five Hundred with 105k to auction last month and realized over $7k. That means that some dealer thinks it can fetch $9k on his lot.
Right now, you can pick up a new 2011 Toyota Corolla LE for $14k if you do your homework and shop around a lot. The rental car companies want nearly $13k for a 2009 with 25-30k miles.
Used cars have been a lot higher recently as 1) rental cars are holding their vehicles to 30-40k miles, nearly twice what they used to 2) Corporate fleets have been cut 20-30%, and 3) cash for clunkers weeded out a lot of vehicles.
Up until 2007, I always said to buy used. Since then, I think people should look for the best deals out there in BOTH sides of the lot.
No doubt that a Corolla is a good deal at $14k for a person who can drive a Corolla. So at the bottom of the food chain it gets more and more likely to come out ok with a new car kept for its useful life.
I tend toward much more expensive cars, and if you put the calculus to an $80000 Mercedes, its pretty obvious.
I tend toward much more expensive cars, and if you put the calculus to an $80000 Mercedes, its pretty obvious.
But at $14k new its hard to argue.
But this is the **FRUGAL** forum - not the $80,000 car forum. (g)
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I agree, just need to find a home where people can have a private space other than the bedroom. You can also use the money you save for weekend getaways - It is working great for my family - I know where they are when there is a storm or disaster, the task of cooking. cleaning, utilities, etc is shared. It is also less of a burden if someone loses their job.
