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I buy cars with cash and keep them forever. I now have quite a few very nice cars, but it didn't start out that way. I bought super cheap but well cared for cars. Based on my experience with every cheap car I have bought, if you buy right and maintain them they will run well for little money until they literally rust away.
Payments, whether lease or purchase, are for broke people.
I traded in an almost 7 year old 2007 Toyota FJ Cruiser on a new 2013 Ford Fusion. After trade the new Fusion with many options cost a total of $8000.
I want to kick myself now, today the 2013 Fusion is worth less than the 2007 FJ. Sometimes you feel like a nut, sometimes you don’t.
I like good looking or unusual cars and always buy new. The once I really like, I usually keep for a long time.
My dad had a 2000 Lumina he used to brag about. "This thing never has a problem...runs lick a clock."
In reality, the build quality of that car was horrible when you compared it to a Honda, Toyota, Nissan, Volkswagen, etc around the same age. Yeah, the car "ran", but the dashboard and interior panels fell apart, the seats had zero support and were worn out after the first 3 years, the doors never did close right, the battery was buried underneath the windshield fluid tank (there was a separate wire run to a "jumping post" for cables should the battery die), the taillights filled with water, power steering went out, CV joins were trashed in under 50k miles, the car had no stability or rigidity and felt like it something would pop loose any minute whenever we hit a bump.
That was then, though. In recent years MOST manufacturers have caught up to the Hondas and Toyotas. 300k-500k is normal and expected with todays vehicles.
I buy cars with cash and keep them forever. I now have quite a few very nice cars, but it didn't start out that way. I bought super cheap but well cared for cars. Based on my experience with every cheap car I have bought, if you buy right and maintain them they will run well for little money until they literally rust away.
Payments, whether lease or purchase, are for broke people.
That's an ignorant statement. I lease a car every 3 years for my SO because she likes a new car. I finance a car for myself for 4 or 5 years and tend to hold on to them until they are 10 years old usually. Sometimes I keep them as a second or third car if I like them. Often I do this. Sometimes I buy impulsively like my Mustang and Corvette and paid cash for them. My accountant insists I have write-offs like car payments. Beleive me when I say I don't need payments to drive a brand new car every two or three years. And, I'm not talking about Chevys or Fords. I drive a Mercedes-Benz S550. My point is everyone situation is different and to make such a statement is ignorant at best.
It's also a pretty good feeling to walk into a Mercedes-Benz car dealership point at a $106,350 car and drive it away a couple of hours later with nothing more than a signature.
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,254 posts, read 2,734,754 times
Reputation: 3203
Quote:
Originally Posted by rburnett
My dad had a 2000 Lumina he used to brag about. "This thing never has a problem...runs lick a clock."
In reality, the build quality of that car was horrible when you compared it to a Honda, Toyota, Nissan, Volkswagen, etc around the same age. Yeah, the car "ran", but the dashboard and interior panels fell apart, the seats had zero support and were worn out after the first 3 years, the doors never did close right, the battery was buried underneath the windshield fluid tank (there was a separate wire run to a "jumping post" for cables should the battery die), the taillights filled with water, power steering went out, CV joins were trashed in under 50k miles, the car had no stability or rigidity and felt like it something would pop loose any minute whenever we hit a bump.
That was then, though. In recent years MOST manufacturers have caught up to the Hondas and Toyotas. 300k-500k is normal and expected with todays vehicles.
My dad had one of the as well. Most uncomfortable seats I have ever sat in. Never broke down in 225,000 miles but never drove well from new. I guess it's all what you value. He valued 'cheap and reliable'. Fit that well.
Location: San Ramon, Seattle, Anchorage, Reykjavik
2,254 posts, read 2,734,754 times
Reputation: 3203
Quote:
Originally Posted by LGR_NYR
That's an ignorant statement. I lease a car every 3 years for my SO because she likes a new car. I finance a car for myself for 4 or 5 years and tend to hold on to them until they are 10 years old usually. Sometimes I keep them as a second or third car if I like them. Often I do this. Sometimes I buy impulsively like my Mustang and Corvette and paid cash for them. My accountant insists I have write-offs like car payments. Beleive me when I say I don't need payments to drive a brand new car every two or three years. And, I'm not talking about Chevys or Fords. I drive a Mercedes-Benz S550. My point is everyone situation is different and to make such a statement is ignorant at best.
It's also a pretty good feeling to walk into a Mercedes-Benz car dealership point at a $106,350 car and drive it away a couple of hours later with nothing more than a signature.
Well your accountant certainly has a different viewpoint on debt than mine does. Accountants say a lot of things but that doesn't mean they know what they are talking about. If they did they would be high net worth accountants which they rarely are. Where I come from if you need to finance it you can't afford it. I'd rather buy a new Mercedes for cash, which I did at age 25 for over $100k. Or not buy one at all. That's what gives me a pretty good feeling.
That's just my honest opinion. Not here to tell anyone else what do do.
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