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I totally misread the Buy or Rent thread
So, since I already wrote it, I copied it then deleted the post to start a new thread and post here.
Here are my thoughts:
MrsM and I have been only buying used cars since sometime in the mid to late 80s.
Lately, we've been buying used rental company cars (gasp). Yes, they used to be one year old and have around 30k miles and now two years old with around 60k miles. Because of the unknown history other than Carefax, we buy a MANUFACTURER'S, not aftermarket company, extended warranty. I never believed in extended warranties but with cars almost being computers on wheels, it's the only way to go with newer used vehicles. We have always gotten more than what we paid in parts and service.
In December, we purchased a 2021.5 Volkswagen Atlas, looks brand new!. With the warranty it was far less than any new car and way less than a used car off the lot. I does help that my nephew owns a large used truck and panel work truck lot and cherry picks them out for me.
My last car was a 2009 Hyundai Santa Fe that I totaled this past December. I put on 125,000 miles and was getting ready for a long road trip. We got much more than our money's worth out of that one! I bought the Atlas to replace it.
We drive cars until they are getting expensive to maintain. And, buy another one then repeat.
I only buy new....a real pleasure for me....worth every penny! Then I put about 17,000 miles per year running up and down the road, doing fun retirement things.
I can't say I'd never buy used. But I don't see it happening. I'm a new car person.
My brother has had great luck buying used rental fleet cars.
My big decision is pay cash or finance.
I'll see which one garners the best deal.
And at 64...with a 19 year old car...how long do I baby this one, before getting another. I'm hoping to get another 5 years out of this one, so I don't have to buy a car in my 80s...but whatever will be will be.
Also I don't want a lot of the new technology on cars. But alas, that's going to be unavoidable.
I buy only used and we pay cash. We also buy rental fleet cars. I’m driving a 2018 Corolla. It had 36000 miles on it when I bought it in 2019. Currently has 85000 miles. I plan to give it to my granddaughter when she starts driving in 4 years. I’ll probably get another Corolla. My husband drives a 2002 Honda CRV. We bought it in 2017 from my parents who used it as a second car in FL at their winter home. It had 36000 miles on it. It now has 70000. It runs likes it’s brand new.
I've long felt new cars were a sucker bet. IMO the sweet spot is a 3 year old car coming off lease, often offered with a CPO type warranty.
Being a car buff I am interested in the sweet spot AND I want performance.
My current car was a used BMW M3 convertible coming off a 3-year lease. Still had a bit of factory warranty left on it. Only 15K miles on the odometer. Pristine condition and maintained by the dealer. I've had that car for nearly 10 years and it has been largely trouble free.
Before that was another used BMW M3 convertible coming off a lease. Same story. I had that car for 10 years as well.
Before that was another used BMW M3. . . . . . OK. You get the idea
Always new, and then I trade them back in for another after a couple of years, when I get bored. Keeping the current truck for a third year though, as another move will come at the end of my current apartment lease. I get bored of those, too.
Location: Miami (prev. NY, Atlanta, SF, OC and San Diego)
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I gave up a car, period. Was only driving 3-4K/miles per year and live in a highly walkable area of a city with 98% of my daily needs within a 1-10 minute walk. Uber (and Uber Eats) works for me—I am saving about $1800/month by doing so and putting it towards more and longer vacations.
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