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Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,548 posts, read 57,460,499 times
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Quote:
Originally Posted by M3 Mitch
@ Vmax - of course, playing the old car game to win means you definitely have at least 2 old cars. I have 3 "daily" cars - ... It also means you are OK with driving a car that you know has a minor problem, the root of this last is having the judgment and experience to know what has to be fixed RIGHT NOW, and what can wait.
I have been driving old cars, including an MG-B, 40 miles one way to the same job for 21 years. I have missed, I think, part of 2 days of work due to car trouble. The boss is OK with that.
How many days of the 2 were from the MG-B? We made a full electric MGB-GT in the mid 1970's (at my former 'invent' employer that had plug-in parking lots at all factory sites in 1970's) (Also converted a Cortina, Simca, TR-4, and Datsun Pickup, and several VW Bugs)
Yes, do keep those 'Extra Cars' around... I have 9 'drivers' in the driveway at the moment. Most cost less than $100 My Insurance guy is SOOOOooo understanding.... I give him a spreadsheet with the VIN's and he just tags the one I'm driving. I wish he had an online selection or an app. (Really tough for DS to know yr and Vin. DS only knows Color and model. (Thus the spreadsheet). "I want to drive the Green Passat Wagon", creates a problem (I have 3 of those). Even worse insurance issues on my many vintage motorcycles, as some states require insurance and others not. So I need a spreadsheet matrix for them.
But... Lucky me, I have NEVER been late or missed a day of work in 40+ yrs due to car trouble. My Dodge truck (old Gasser / pre cummins), broke at WORK one day (day after a 4,000 mile emergency road trip in winter across Mtn and plains states). It only had 200k at that time and the plastic timing chain gear broke. It went on to serve another 100K + w/o a problem after the $19. Timing chain repair.
I was delayed to events (not work) a couple times when my kids were driving their $35.00 diesels 120 miles to school each day. Usually an 'operator' error, that required coaching (oh, for the benefit of cell phones if they had been available).
Drive a beater, keep a spare, (living in the boonies, where no one will care). Or have a BIG shop, AND / or a vigorous brier patch. (I have all the above).
Unless you are able to purchase below retail and sell before depreciation exceeds your purchase price there is no such thing as equity in a car, at least for the average person.
There is equity, late in the loan term, when you don't have many payments left. And of course after you pay it off, the full value is equity.
Quote:
Originally Posted by WFW&P
Even after you pay the car off the annual operating expenses will eventually exceed the depreciation rate.
Sure, but gas, insurance, and scheduled maintenance will cost money regardless of if you keep an old car or get a new one, and the same applies to the smaller costs such as registration fees, cleaning, parking, defrosting, etc. you can only avoid those costs by having no (useable) car at all.
How many days of the 2 were from the MG-B? We made a full electric MGB-GT in the mid 1970's (at my former 'invent' employer that had plug-in parking lots at all factory sites in 1970's) (Also converted a Cortina, Simca, TR-4, and Datsun Pickup, and several VW Bugs)
Yes, do keep those 'Extra Cars' around... I have 9 'drivers' in the driveway at the moment. Most cost less than $100 My Insurance guy is SOOOOooo understanding.... I give him a spreadsheet with the VIN's and he just tags the one I'm driving. I wish he had an online selection or an app. (Really tough for DS to know yr and Vin. DS only knows Color and model. (Thus the spreadsheet). "I want to drive the Green Passat Wagon", creates a problem (I have 3 of those). Even worse insurance issues on my many vintage motorcycles, as some states require insurance and others not. So I need a spreadsheet matrix for them.
But... Lucky me, I have NEVER been late or missed a day of work in 40+ yrs due to car trouble. My Dodge truck (old Gasser / pre cummins), broke at WORK one day (day after a 4,000 mile emergency road trip in winter across Mtn and plains states). It only had 200k at that time and the plastic timing chain gear broke. It went on to serve another 100K + w/o a problem after the $19. Timing chain repair.
I was delayed to events (not work) a couple times when my kids were driving their $35.00 diesels 120 miles to school each day. Usually an 'operator' error, that required coaching (oh, for the benefit of cell phones if they had been available).
Drive a beater, keep a spare, (living in the boonies, where no one will care). Or have a BIG shop, AND / or a vigorous brier patch. (I have all the above).
Owning a shop and/or brier patch? Opportunity cost! You could have otherwise invested the money you purchased it with in something else such as a mutual fund. Or, if you did it on finance, interest on the loan. As the saying goes, there is no free lunch.
I have a 14 year old car and I have yet to see a significant increase in repair costs..
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