What's the best way to own a car, in your opinion?

[hseII]

There seems to 6 main schools of thought on this, and I don't think there's a right or wrong answer. Obviously, you tailor your purchases to fit your needs. That being said, what seems to work the best for you, over all of the years you've owned cars?

1) Lease - i.e. my brother; pay the depreciation for 3 to 5 years and turn it in when you're tired of it and want something else.
2) Buy new, sell when the warranty is up - usually 4 to 7 years of ownership. When the warranty ends, make it someone else's gamble.
3) Buy new, sell it after ~10 years - after 10 years it's time to move on while it still has some value, sell it and let's get something else.
4) Buy new, keep it until the wheels fall of and it's worth $1,800 - i.e. my dad; still drives a 1995 Dodge Ram 2500 he bought new in December of '95, has almost 400,000 miles and isn't worth jack (and might die any day).
5) Buy 1-4 year old CPO car, feel it out until the warranty is up, sell or keep it depending on how much you like it.
6) Buy used, never new - buy a 2nd hand car, keep it as long as you want and then sell when you're tired of it or it won't run anymore.

Your dad’s truck,

Is it a Cummins?


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[Fish Fry]

My dad always paid cash for a car and most of 'em he never got rid of unless he had 'em at least 10 years. Did his own maintenance, too.

Of course he saw them as appliances - just a way to get from point A to point B.

I'm getting more and more like him the older I get. Miss him.

This - there once was a time that I saw a car as a status symbol - I outgrew that when i became man and put my toys away.

Nowadays I drive them until the wheels fall off but, you never find my cars dirty or ill-maintained. I respect my wife too much to ever have her drive anything less than a first-class car.

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[CBH13]

6ish lol. buy a couple used cars and maintain them but have a backup when one inevitably breaks. this also leaves you room for several different types.

 

[Ken Ford]

There seems to 6 main schools of thought on this, and I don't think there's a right or wrong answer. Obviously, you tailor your purchases to fit your needs. That being said, what seems to work the best for you, over all of the years you've owned cars?

1) Lease - i.e. my brother; pay the depreciation for 3 to 5 years and turn it in when you're tired of it and want something else.
2) Buy new, sell when the warranty is up - usually 4 to 7 years of ownership. When the warranty ends, make it someone else's gamble.
3) Buy new, sell it after ~10 years - after 10 years it's time to move on while it still has some value, sell it and let's get something else.
4) Buy new, keep it until the wheels fall of and it's worth $1,800 - i.e. my dad; still drives a 1995 Dodge Ram 2500 he bought new in December of '95, has almost 400,000 miles and isn't worth jack (and might die any day).
5) Buy 1-4 year old CPO car, feel it out until the warranty is up, sell or keep it depending on how much you like it.
6) Buy used, never new - buy a 2nd hand car, keep it as long as you want and then sell when you're tired of it or it won't run anymore.

6 all day long.
Only reason to ever buy new is that you have no mechanical skills, and don’t know how to evaluate a vehicle for potential problems. No vehicle will be problem free.

 

[Camper292000]

I have usually bought at 60 to 100K miles if it seemed solid, then drive it to the wheels fall off...or it gives enough warning signs.

That toyota solara almost did have a front wheel assembly fall off.

About a Silverado two years old... Had it 17 years!

 

[JHunter14]

Your dad’s truck,

Is it a Cummins?


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No. 5.9L gas. It's got 3 and a half wheels in the grave.

 

[Ken Ford]

6 all day long.
Only reason to ever buy new is that you have no mechanical skills, and don’t know how to evaluate a vehicle for potential problems. No vehicle will be problem free.

Edit: Of you can afford it and you want it, buy it new. LOL

 

[hseII]

No. 5.9L gas. It's got 3 and a half wheels in the grave.

Your original assessment is probably accurate then.


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[above_all]

1000% on the DCCU loans. My rate of my F150 was around 1.5%. I also did not know they theow in extra warranty. Thanks for that info.

DCCU doesn't just throw in the warranty. It's very reasonably priced and it's added to the end of the loan. If you sell the vehicle and didn't use the warranty, you get a prorated amount back. If you used it, you get a prorated amount back; less the amount spent by the warranty. With things like sunroofs, nav systems, power step rails; the warranty is a no brainer.

I'm 61 and all grown up. I like a nice truck or car. Not necessarily for status, but for comfort. I don't enjoy working on my vehicles anymore. Don't have the patience for it. I can afford it, so I upgrade every few years and get the warranty.

 

[JHunter14]

DCCU doesn't just throw in the warranty. It's very reasonably priced and it's added to the end of the loan. If you sell the vehicle and didn't use the warranty, you get a prorated amount back. If you used it, you get a prorated amount back; less the amount spent by the warranty. With things like sunroofs, nav systems, power step rails; the warranty is a no brainer.

I'm 61 and all grown up. I like a nice truck or car. Not necessarily for status, but for comfort. I don't enjoy working on my vehicles anymore. Don't have the patience for it. I can afford it, so I upgrade every few years and get the warranty.

Thanks for the clarification. Yea, I paid a few thousand for my 8 year 150k warranty through Ford. Peace of mind and all that, because the 6R80 at the time was running in excess of $4k to replace, engine almost $7k, nav/infotainment unit was almost $2k. But don't call Ford. They want $5k for the 8/150k. Find a dealer that bulk sells and you can get it for $3,500 to $4,000. My warranty was "technically" purchased at a Connecticut dealer, but is good at any Ford dealer.