Does anyone buy a new vehicle and just keep it?

[PapaScout]

I put 300K miles on my last Jeep. Plan on doing the same to the current one.

 

[Hohn]

I bought my '02 Dodge Diesel 2500 brand new in 2002. It's still going strong (as you'd expect from at least the Cummins part). At this age, it still has <90K on the clock.

Dodge parts are starting to show some age-- seat upholstery, plastics inside cracked (UV/temp), etc. Tranny is getting cranky and tough to shift at times (6-speed stick).

But it costs me so little to operate it that I can't see justifying a replacement anytime soon. One fillup last me over a month. Even a the prices for diesel now, I can afford that.

Just bought my first set of rubber in 6 years. This set will last another 6 or so. Mileage accumulation is just too slow to eat rubber quickly, and only fuel is a greater operating expense than rubber (most of the time).

I don't have enough saved to pay cash for a new truck, so I doubt I will be able to "buy new and hold forever" again. I'll more likely end up buying well-used and hold until the the thing stops at its grave.


Our van we bought barely-used and also are going to drive it into the dirt. It's much newer (2005)

 

[88GT]

My 1999 GMC Sierra was paid off 7 years ago and has had, in the last year: engine overhaul, transmission rebuilt, new wheel bearings, exhaust repairs, differential rebuilt, and is coming due for a water pump.

Total cost has still been less than a single year's worth of payments on a new one, and it drives like the day I bought it, 12 years and 113,000 miles ago.

That's because that particular model of GM truck was SOLID. My '96 Suburban had 237K miles on it before it flamed out (literally, engine fire). I'd still be driving it today. LOVED it.

I won't even buy a new vehicle. I've purchased one new car in my life and quickly realized what a waste that was. I'm happy that some folks have to have a new car every year or two, they can eat the depreciation and keep on providing decent cars for the used market.

This. We can't afford a cash payment for new and refuse to take on another monthly debt payment (we only do that for more rentals so it's money in our pocket at the end of the month anyway). I never did like the idea of driving it off the lot and being upside two minutes into ownership.

Our newest is an '07 (bought in 2012 to replace the '06 stolen in 2011). Our oldest (though not drive-able thanks to the blonde in the Avalanche) is the '88. (I intend to sell it as a roller this summer after I pull the power train components and rear suspension, if anybody is interested. Had brand new rims and rubber on it too. ) We also have an '89, a '92, and a '99.

I very much intend to keeps vehicles for the long haul, but people keep pulling out in front of Mr88GT and force me to go back to the used car listings.

 

[Hohn]

Yup^^. I forgot to mention that we are now following the Dave Ramsey approach, so if I can't pay cash for the car, I'm not buying it.

Hence, a *new* vehicle is darn near impossible for the forseeable future.

 

[Bennettjh]

Bought a new 04 Chevy Silverado 91,000 miles still have it. Bought a 97 Jeep Cherokee in 98 has 143,000 miles still have it. I hope to get at least 200,000 miles on them before either they or I expire.

That Jeep should run well into 200K. I've never bought a Jeep under 100K. I've had 4 total and they run forever it seems like. Preventative maintenance is the key IMHO. Water pumps and radiators and oil changes is all that's been done to them. It makes life easier when you do the maintenance yourself. Fortunately I work on cars every day so I have the tools and facility.

 

[MikeDVB]

Why would anybody ever buy a brand new vehicle?

Knowing exactly how well [or not] it was taken care of, what has been replaced and what hasn't, whether oil changes were regular as they should be or not, whether or not it's been in an accident and subsequently repaired, and warranty.

My car is still under warranty for 3 more years and it's been paid off for 3 years, I'm pretty happy.

 

[sepe]

Newest I've ever bought was a 1995 and it was 10 years old when I bought it. I've paid cash for all of my trucks. Sold one after 5 years of driving it because I wanted something 4wd. Sold my first 4wd after about 3 years and made money, sold that one because it got under 10mpg when babied.

Knowing exactly how well [or not] it was taken care of, what has been replaced and what hasn't, whether oil changes were regular as they should be or not, whether or not it's been in an accident and subsequently repaired, and warranty.

My car is still under warranty for 3 more years and it's been paid off for 3 years, I'm pretty happy.

I've got a Dodge Ram 1500 that was known for going through transmissions. Mine wasn't babied by previous owners and it hasn't been by me. It hasn't had a single problem that wasn't a wear part. Dodge did use some crappy fabrics so there is a seat tear and the headliner is sagging but nothing a seat cover and some upholstery tacks can't handle. I know someone that bought a 1995 Dodge new, exact same truck other than the paint color. Under 1,000 miles the transmission was replaced. Again at 5,000 miles. And yet again at 15,000 miles. Yeah, there was a warranty but that didn't make it a better vehicle or experience than mine. Biggest problem I've had was having a junk carb on my 1985 GMC K15 but that was the fault of the engine builder (wasn't me). If you know your way around a vehicle and don't have a problem working on something, it doesn't make sense to buy new.

 

[mulsas]

I had a '91 S10 that I bought off my dad in '95. Had it for 11 years, where the body was mounted to the frame was rusting to the point that it was hard to open the driver side door, you really had to put a shoulder into it to get it open. That guy finally bit it in an accident.

We both have cars that were bought at 2 years old. Hers is an '09 Murano that we are still paying off, and mine is an '04 Tundra that just rolled 100k. I really hope the truck lasts forever, I love driving it. Plus when it is nice I ride my motorcycle to work (which is as often as I can), so the truck really doesn't get alot of miles on it.

I would much rather keep my older cars, and make sure that I don't saddle my kids with a mountain of college debt when they go to school. Plus, some day I plan on paying off my mortgage. How cool would that be, to no longer have a mortgage payment in the monthly budget!

 

[Mike H]

I guess I do.
In 1977 I bought a new F 150 4X4 that I drove for 17 years.
In 1994 I got rid of the 77 and bought a new F 150 4X2.
I got rid of her in 1998 and bought another new F-150 that I still drive today.
So that one is 15 years old. 136000 miles on it and still runs great.
One owner, garage kept, never been wrecked, regularly serviced.
I'm thinking that its about time for a newer one.

 

[MikeDVB]

I've got a Dodge Ram 1500 that was known for going through transmissions. Mine wasn't babied by previous owners and it hasn't been by me. It hasn't had a single problem that wasn't a wear part. Dodge did use some crappy fabrics so there is a seat tear and the headliner is sagging but nothing a seat cover and some upholstery tacks can't handle. I know someone that bought a 1995 Dodge new, exact same truck other than the paint color. Under 1,000 miles the transmission was replaced. Again at 5,000 miles. And yet again at 15,000 miles. Yeah, there was a warranty but that didn't make it a better vehicle or experience than mine. Biggest problem I've had was having a junk carb on my 1985 GMC K15 but that was the fault of the engine builder (wasn't me). If you know your way around a vehicle and don't have a problem working on something, it doesn't make sense to buy new.

You're preaching to the choir here - before my new car my previous one was a 1989 Dodge Spirit ES 2.5 Turbo 5-Speed (and I got it in 2002, with 252k miles on it).

Drove it until just over 350k miles before parting it out after getting the *new* car. I have no issues repairing things myself - I did a transmission swap on it at 300k and replaced the front and rear main seals as well as the clutch when the trans was swapped.

That said, I've never had to use the warranty on the *new* car yet and :knocks on wood: I won't ever have to, but it's nice that it's there if I ever do really need it.

Just because I justify my purchase in one way, doesn't mean you'll agree and that's fine with me .

 

[rw02kr43]

cars

I seem to buy my trucks 9 years after they were new. My first was an 89 ranger that I bought in 98. My current truck is a 98 ranger that I bought in 2008. It has 123k on it. My old ranger had over 250k. The POS focus I'm driving now feels like it could die or kill me at any time. It has 152k on it. I was hoping to buy a new car in the fall, but the more I think about it, the more I'm leaning towards used. The Cadillac dealer in Greenwood has a nice used Aston Martin for 29k. Hmmmm

Jason

 

[jkaetz]

I seem to buy my trucks 9 years after they were new. My first was an 89 ranger that I bought in 98. My current truck is a 98 ranger that I bought in 2008. It has 123k on it. My old ranger had over 250k. The POS focus I'm driving now feels like it could die or kill me at any time. It has 152k on it. I was hoping to buy a new car in the fall, but the more I think about it, the more I'm leaning towards used. The Cadillac dealer in Greenwood has a nice used Aston Martin for 29k. Hmmmm

Jason

Go used. Shoot for the 1 - 2 year mark. A one year old car is hardly broken most times and can't have been abused too badly but will usually take a 20% or more depreciation hit. I bought my Grand Prix as a 1 year old car with 7000 miles and was ~27% less than the MSRP. Even the luxury cars drop like a rock after a year.

 

[88GT]

Go used. Shoot for the 1 - 2 year mark. A one year old car is hardly broken most times and can't have been abused too badly but will usually take a 20% or more depreciation hit. I bought my Grand Prix as a 1 year old car with 7000 miles and was ~27% less than the MSRP. Even the luxury cars drop like a rock after a year.

Operative words. Everything loses big value after a year because most people can convince themselves that the opportunity costs of just going with the brand new care are worth the bigger payment.

But cars keep losing value like a new mom loses sleep. It's nothing to see a $40K car being offered for a quarter of that just 3-5 years down the road. Trucks on the other hand, depreciate in value much more slowly and seem to hit a plateau below which they will not fall (excepting the true POS that barely runs, dog-tracks, and doesn't have a factory surface on it).

 

[Indy 1911]

Have a 92 S-10, 03 Silverado, 03 Impala, and 12 Equinox. Keep em until they wont drive. 230,000 on the Silverado

 

[Lucas156]

I'd buy new if I was buying a truck right now or slightly used. Used trucks are so expensive there's no point to buying used.

 

[atvdave]

Sold my 01 silverado to my son for $1.00 after I bought my new truck last year.

 

[Leo]

88Gt is right about trucks. I have seen 10 year old worn out trucks get serious money on a regular basis in Indiana, and they were not creme puffs either.

I am a car guy and find clean, low mileage 3 year old cars cash outright for less than 1/2 of new sticker. Some of it depends on the car also. It is easy to find a super clean, unmolested Grand Marquis or Park Avenue. Finding that condition for a mustang GT or some other trendy car is a lot tougher.

I had purchased several new cars when I was younger, but they got traded early for "more practical" cars as the family grew. Spent way to much time driving station wagons and mini vans.

 

[Jarhead77]

I drove my '89 prelude over 200k miles and when it died I bought another used Honda that I will drive until it dies. I bank the payment so I can pay cash next time. No debt on cars for us. Limits you too much I think.

 

[Hohn]

Trucks on the other hand, depreciate in value much more slowly and seem to hit a plateau below which they will not fall (excepting the true POS that barely runs, dog-tracks, and doesn't have a factory surface on it).

The book value on my old Dodge, even with torn upholstery and hail damage is still over $10k!

The gas-engine version only books around 3K. I can't believe how a diesel pickup holds its value so much. I've been tempted to sell it off because I truly don't need it. But since it's one owner for over a decade, I'm sorta bonded to it.

JH

 

[Titanium Man]

In my life I've had 23 cars.......and since I'm not on the road traveling for my company I retired from, I don't burn through cars like I use to.

I don't care what Dave Ramsey says, buy new!! If you know what your doing, have a super credit rating, and know how to walk out on those a-hole salesmen, you can get what you want, and it less headache in the long run.

I now drive cars until they drop. I recommend finding someone who will work on your car, for most things, so you can save TONS of money over the dealer, once you're out of warranty.