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Old 07-28-2018, 06:30 AM
 
2,169 posts, read 1,930,325 times
Reputation: 3831

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Quote:
Originally Posted by eliza61nyc View Post
lol, I was thinking the same thing. one thing I love about the c-d economy board everyone knows some one who can't afford the luxury car and everyone lives in a mcmansion except them.


used Lincoln navigator fully loaded and a Mercedes.. Wonderful people, just no desire to save or build wealth, they live life for today only. To each their own. They rent an expensive apartment no mcmansion.
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Old 08-12-2018, 03:28 AM
 
3 posts, read 3,806 times
Reputation: 16
when i was 28, i had 15K in cash, a 7 year old used car worth 5k, total 20k my whole networth. I traded in the used car for Audi A4 plus 10k cash, my dream car at the time....out of door price with tax was 41k. so 15k down with 26k loan for 60 month.

now i am 45, i think back about it from time to time, i basically used 75% of my asset to make a down payment on a car.

I will never do that again but then i was single with no baggage. Gotta live a little and i don't regret it one bit. I really enjoyed that car.....I had that car for 7 years, the transmission broke down, sold it for 3k.

it's fine....just do it when you are young.
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Old 08-12-2018, 09:02 AM
 
Location: Northern California
4 posts, read 1,963 times
Reputation: 10
I sold my 2012 WRX that was fully paid off in Aug 2015. Used all the proceeds that paid off existing loan balance (buy back service credit of about 8 years towards retirement pension) and used the remaining leftover money about $3K fully paid 2002 Hyundai that we still drive today. No debt, except mortgage now.

If you are young, buy a cheap car, learn to how rotate tires, and oil change to save money. I used to do all my maintenance in my car in my 20s. Today, I'd let the mechanics do all the work (little older) back don't bend do well.

Dave Ramsey is something to follow if you have want to get out of debt.
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Old 08-13-2018, 04:55 AM
 
Location: Henderson, NV
7,087 posts, read 8,588,812 times
Reputation: 9978
My car's tires don't even rotate, they are different sizes front and back, so about 15,000 miles you have to replace the tires completely. Unless you drive like an idiot, then I've heard people having to replace them after a few thousand miles of crazy driving. The Camaro oil changes are also 8 quarts, so any time you see an ad for cheap oil changes, it always has an asterisk and says below 5 quarts only. So that $39.99 oil change advertised always ends up being about $110 or something. The good news is in 6 years I've only changed the oil once, because my car only has 8,500 miles on it, though it is due for its second oil change
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Old 08-16-2018, 08:17 PM
 
93 posts, read 44,681 times
Reputation: 104
I'll never buy a new car. I aint gonna just throw away 5-10k and that's what you do when you buy one.
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Old 08-16-2018, 11:16 PM
 
Location: Spain
12,722 posts, read 7,492,979 times
Reputation: 22628
Quote:
Originally Posted by bellsa View Post
I'll never buy a new car. I aint gonna just throw away 5-10k and that's what you do when you buy one.
If I buy a new car and plan to drive it until the wheels fall off, you buy a 2 year old car and have same goal... how did you save 5-10k? Sure you paid less for the car but if our cars both last average lifespan you'll have to buy another one 2 years before I do. I'm not convinced the additional transaction costs outweigh the longer lifespan of the new car. Resale value is no longer significant on cars that old, they would be junkers when finally retired so it's down to amortized initial cost versus time of use.

Granted few people buy cars with 15+ year drive plan, but I don't get how an absolute statement like you made works for those who buy for the long run.
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Old 08-16-2018, 11:50 PM
 
Location: Henderson, NV
7,087 posts, read 8,588,812 times
Reputation: 9978
Yeah, I guess for me I figure upon about a 10 year usage for a car when I buy it but that has backfired honestly. Cars are a money loser, there's no doubt about it, they're probably the biggest waste of money in everyday life. When I moved downtown, I had a used SUV we bought with about 30K miles on it that we really liked. It got poor gas mileage, which was annoying, but other than that it was a great car that we enjoyed. We would have happily used it for a decade. Unfortunately, it quite literally didn't fit into the parking space at our new condo without unbelievable effort. They gave us two parking spaces, after negotiation, but the 2nd one especially was absolutely horrible and was surrounded by 4 pillars, 2 up front, 2 to the rear, and I wasn't about to try parking either my Camaro or my SUV in there regularly. I tried once and I got it there with 1.5 inches on each side, and it took about 7 tries to do that. So I traded the thing in for a MINI Cooper, which fit just fine, and was a great downtown car. Two years later, we moved from downtown to the suburbs, took a $135K gain on the condo, but we hated the MINI and driving it had become a real pain in the butt. It was great for downtown but horrible for groceries, horrible for driving, just a miserable car that I wouldn't recommend to anyone outside of an urban environment. We took a bath on the MINI, too, so that was two cars in a row with substantial losses in just a few years. They were easily made up for by the profit on the condo, though, so I look at it as a necessarily evil. We didn't now we'd leave our condo in only 2 years.

I certainly intend to keep our current cars (6 years old and almost 2 years old) for a long time, though. My next upgrade of my car will likely be a supercar in 10-15 years (my current car only has 8,500 miles in 6 years, so it'll last just fine). Unless every car is a self-driving car by that point on some sort of common grid computer system, in which case I guess not.
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Old 08-18-2018, 07:17 AM
 
8,170 posts, read 6,002,700 times
Reputation: 5963
Quote:
Originally Posted by JonathanLB View Post
I found this same thing. I admit I've never been a big driver myself, I always have worked for myself and worked from home, so the idea that I'm going to pay $23,000 for a car with 65,000 miles and it's 4 years old versus just pay the $30,000 for a new car with 18 miles on it is ludicrous to me. I don't know how long cars last now days, but it'll be a cold day in hell before I drive around a car with 100,000 miles, I would sell it if it got anywhere close to that and move on with my life. So buying a car with 65K miles to me is like buying a more-than-half-used car, the useful life of that car is already mostly shot as far as I'm concerned. I don't want to deal with its issues. How in the world someone puts that many miles on a freakin' car in 4 years is absolutely baffling. Are they commuting to another planet?! My Camaro just hit 8,000 miles and it's 6 years old. My Nissan Rogue that we mainly use is around 8,000 miles per year and that's quite a lot, but still it'll be a long time before it hits 100,000 miles and needs replacement.

In my opinion if you want to sell me a car that has 65K miles it needs to be HALF the price of a new car, at the very most, and I even think that's a rip off. I go and look up the KBB value of these cars and they're nowhere near that high, but the dealerships will sit there telling you, "Well you can save a few thousand bucks by buying this heavily used car that's only 4 years old." Uhh, gee, you know, gonna have to pass on that! I wonder if they're just trying to sell their new cars. I found the discounts mostly worthwhile on the cars with 10-30K miles, they were a good substantial discount but not a huge one. Then the ones with 60-80K miles they were trying to sell for just a few thousand less, which I'm just not having.
I have 20k miles on a car that I bought 10 months ago. I commute 13 miles each way to work. We live in a rural area. To just get to a grocery store is 20 minute drive.

I get rid of them when major stuff happens. My last one head gasket went up at 60k miles.
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Old 08-18-2018, 07:46 AM
 
Location: Henderson, NV
7,087 posts, read 8,588,812 times
Reputation: 9978
Quote:
Originally Posted by LowonLuck View Post
I have 20k miles on a car that I bought 10 months ago. I commute 13 miles each way to work. We live in a rural area. To just get to a grocery store is 20 minute drive.

I get rid of them when major stuff happens. My last one head gasket went up at 60k miles.
Yikes you drive a lot! But I don’t blame you on the major issues, I have no patience for that. When something like that happens it’s time for a new car lol.
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Old 08-18-2018, 07:53 AM
 
26,148 posts, read 21,379,492 times
Reputation: 22741
Quote:
Originally Posted by LowonLuck View Post
I have 20k miles on a car that I bought 10 months ago. I commute 13 miles each way to work. We live in a rural area. To just get to a grocery store is 20 minute drive.

I get rid of them when major stuff happens. My last one head gasket went up at 60k miles.
Your story on cars just doesn’t add up. A 13 miles commute one way 365 days a year is under 10k miles add in 40 miles a week for the grocery run and you are 11.5k

Also if I remember correctly you are extremely hard on vehicles with an absurd amount of major service issues at an abnormal rate
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