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Continuous payments (either lease or own) just do not make sense.
Life is full of "continuous payments" but nobdy bats an eye. You'll have utility bills, insurance bills, and doctor's bills till you die. My utility bills are on average $250 a month. So could be my car payments. That car payment you finished paying is probably spent some other way that you can't probably account for.
Nobody went to grave wishing they had bought fewer cars. If anything, they wish they had bought MORE cars. Who are you saving it for?
I just want the right ones, not a lot of them. Quality, not quantity.
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That car payment you finished paying is probably spent some other way that you can't probably account for.
$3000 is a pretty nice vacation every year.
If I already have another one budgeted, it makes winter a lot more tolerable. I sure wouldn't mind going twice a year.
Continuous payments (either lease or own) just do not make sense.
Nobody is saying buying a new car frequently makes economic sense. Pay attention. Unless you live in a bunkhouse with 10 people per room, or maybe a tent in the woods, or even a park bench, you haven't chosen the most economical shelter option. Does that mean owning a home or renting an apartment makes no sense?
Continuous payments have nothing to do with it. In fact, if you do buy new cars frequently, it makes sense to have continuous payments. Only a fool would pay cash given today's low auto loan interest rates. Unless, of course, you keep your savings under your mattress or in a checking/savings account that yields negligible interest - in which case you might want to consider not lecturing others on economics.
Nobody went to grave wishing they had bought fewer cars. If anything, they wish they had bought MORE cars. Who are you saving it for?
I used to save and save and save. Max out my 401k. One day we’ll get that beach house. Retire early. Sacrifice now, it’ll pay off later. Then my wife got diagnosed with Stage IV cancer at 36. Life is short folks. Tomorrow is not guaranteed. Enjoy yourself.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Originally Posted by STL2006
I used to save and save and save. Max out my 401k. One day we’ll get that beach house. Retire early. Sacrifice now, it’ll pay off later. Then my wife got diagnosed with Stage IV cancer at 36. Life is short folks. Tomorrow is not guaranteed. Enjoy yourself.
I agree. I suppose if you want a car just for transportation, keeping it a long time is fine. Some of us consider them fun, and like variety. I have almost always had 3, one time 4, with only two drivers, and have had over 30 since my first at age 14. Not all were bought new, and some used were paid for in cash, but I will even keep clothes longer than cars. The most miles I have put on a new one was 138,000 and that was over 10 years. Most recently it’s been a CUV or SUV for my wife, a truck and a classic for myself. Now the house is where you save and make money by keeping it. Ours was $190,000 in 1993, still here and now valued at over $800,000.
I have almost always had 3, one time 4, with only two drivers
I have three with two drivers. I only plan to keep one of the three.
When we're retired we will get the other two, they'll be exactly what we want and we'll keep them.
Owned current car 10 years. No regrets. My grandpa bought a new car every 2-3 years. Can't imagine how much money was thrown away. Tallied up, he'd owned 34 cars over his lifetime.
Owned current car 10 years. No regrets. My grandpa bought a new car every 2-3 years. Can't imagine how much money was thrown away. Tallied up, he'd owned 34 cars over his lifetime.
Yeah, but grandpa was buying cars back when they were unreliable junk and you didn’t want to own it after it went off warranty. In New England, a 1960s or 1970s car was already having severe corrosion issues at 5 or 6 years. My first 1972 family hand me down car was a mess by 1978. I got really good with sheet metal and pop rivets. My first new car in 1981 ate an engine and a manual transmission. In 2018, you can expect a new car to go 125,000 to 150,000 miles without doing much to it. I remember the bottle of champagne when the odometer rolled on my 1972. It was a big deal and not ordinary.
I drove 30,000+ miles per year for much of my adult life. After 3 or 4 years, most of those cars were on borrowed time. 100k miles is no big deal now but I was figuring out what I’d buy next in the 1980s and try to coax an extra year or two out of the car.
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