3 ms·

>I don't, at least not comfortably (I probably could swing buying a newer car, but it'd definitely be painful) Remember also, older cars cost a lot: they might

by magduf 7y ago

>I don't, at least not comfortably (I probably could swing buying a newer car, but it'd definitely be painful) Remember also, older cars cost a lot: they might not cost much to buy, but they cost a lot to keep running, because of repair costs. If you do your own work and have the time, this might not be a big issue, but for a lot of people it definitely is, and it's why they trade up to a newer car every so often: the repair costs on the old car become greater than the value of the car, so it's cheaper to just sell it and buy something newer that isn't breaking down all the time. On top of that, don't forget the cost of having a breakdown, as this can affect your job.

yellowapple 7y ago
I feel like I'm at a dealership, lol No, my repair costs + price of my current car ain't anywhere near what it'd cost to buy a newer car, at least not yet (if it gets to that point where it really is cheaper to buy a newer car than to fix my current one, then fine, but so far that hasn't been the case). This kind of assumption also hinges on the idea that newer cars don't break down as often (which may be true statistically, but is nowhere near guaranteed). At best, one could argue that I'd save a lot in gas due to efficiency gains and/or electric drivetrains. That's probably true in the case of electrics, which is why I'm saving up to that effect, but those are - unfortunately - pretty expensive, especially for my needs (I routinely haul enough stuff to justify at least an SUV, if not an outright truck). In any other case, it'd take a long time to get to break-even.
- magduf 7y ago
  Depending on how much work you do on your own car, and how long you keep it, new cars may not be a great investment, since they depreciate so rapidly. Basically there's a bathtub curve: too-old cars have very high repair costs, and too-new cars have high depreciation. So if you really want to be frugal, you want a car that's between 2 and 10 years old I think, depending on your finances and what you want to drive. >This kind of assumption also hinges on the idea that newer cars don't break down as often (which may be true statistically, but is nowhere near guaranteed). It's absolutely true statistically. It might not be guaranteed because there are lemons out there (as well as Chryslers...), but in general it's absolutely true: machines wear out over time so of course older cars have more things breaking on them. But some are definitely better than others. I know someone with an '01 Toyota Camry with 300,000 miles on it and it's still running great, though it's needed a few minor body things fixed (like a side mirror, probably broken by getting hit by something). I wouldn't expect an '01 Chevy to be that reliable, and certainly not an '01 Chrysler. >I routinely haul enough stuff to justify at least an SUV, if not an outright truck My suggestion here if you want to save gas is (assuming whatever you're hauling isn't too heavy, and this is an occasional task and not everyday) to get a car, add a tow hitch, and get a 4x8 utility trailer. I had one of these for a while and it was pretty fantastic for things like hauling appliances or furniture in town.

by magduf 7y ago

yellowapple 7y ago

I feel like I'm at a dealership, lol No, my repair costs + price of my current car ain't anywhere near what it'd cost to buy a newer car, at least not yet (if it gets to that point where it really is cheaper to buy a newer car than to fix my current one, then fine, but so far that hasn't been the case). This kind of assumption also hinges on the idea that newer cars don't break down as often (which may be true statistically, but is nowhere near guaranteed). At best, one could argue that I'd save a lot in gas due to efficiency gains and/or electric drivetrains. That's probably true in the case of electrics, which is why I'm saving up to that effect, but those are - unfortunately - pretty expensive, especially for my needs (I routinely haul enough stuff to justify at least an SUV, if not an outright truck). In any other case, it'd take a long time to get to break-even.

magduf 7y ago
Depending on how much work you do on your own car, and how long you keep it, new cars may not be a great investment, since they depreciate so rapidly. Basically there's a bathtub curve: too-old cars have very high repair costs, and too-new cars have high depreciation. So if you really want to be frugal, you want a car that's between 2 and 10 years old I think, depending on your finances and what you want to drive. >This kind of assumption also hinges on the idea that newer cars don't break down as often (which may be true statistically, but is nowhere near guaranteed). It's absolutely true statistically. It might not be guaranteed because there are lemons out there (as well as Chryslers...), but in general it's absolutely true: machines wear out over time so of course older cars have more things breaking on them. But some are definitely better than others. I know someone with an '01 Toyota Camry with 300,000 miles on it and it's still running great, though it's needed a few minor body things fixed (like a side mirror, probably broken by getting hit by something). I wouldn't expect an '01 Chevy to be that reliable, and certainly not an '01 Chrysler. >I routinely haul enough stuff to justify at least an SUV, if not an outright truck My suggestion here if you want to save gas is (assuming whatever you're hauling isn't too heavy, and this is an occasional task and not everyday) to get a car, add a tow hitch, and get a 4x8 utility trailer. I had one of these for a while and it was pretty fantastic for things like hauling appliances or furniture in town.