Or perhaps people are starting to realize that you don’t need a new car as soon as your 5-year loan is paid off.
I do okay financially; if I wanted a new car, I’d buy one. I bought mine brand new off the lot 15 years ago, and I intend to keep driving it until I can no longer repair it. Why would I possibly want to buy a new, 5G-connected, spyware-infected plastic shitbox when what I have works perfectly well and probably has another 100k miles of life with a few minor repairs and maybe an engine swap at 2-300k or so?
Pretty much the same here only 12 years ago. I remember telling my dad I made the final payment and his immediate reply was something along the lines of, “Now you can trade it in and get something new again”. I learned long ago not to take financial advice from that guy lol.
Only reason I am thinking of replacing our car is because a BEV would pay for itself fairly quickly if I hear back from a job I applied to that has a 50 mile round-trip commute. Gas alone would be an extra $1000 per year compared to our current 11 year old vehicle.
CarPlay and radar cruise control are worth it for commuting imo… but beyond that I don’t care.
2021 civic I’ll be driving into the ground thank you very much.
I frequent the Bay Area (Cali) and wouldn’t dream of taking a car without some semi-autonomous driving features. Sitting in traffic while the car brakes, accelerates and steers is the best.
For sure. I had my last car for 20 years until it finally NEEDED to be replaced. And my current car I’ve had for five years. After paying it off early, I’ve enjoyed not having that payment, and I hope it lasts just as long as my last car.
Only reason Id buy a new car is to get a full electric, affordable, nontesla that has more than 150 horsepower.
Every car I have ever owned since I started driving in the 1990s, I have driven until I can’t anymore. Either they got too old and broke down or something was just so expensive to fix that it wasn’t worth it or someone totaled it. All of them have been bought used as well. And I plan to do it again with my 2016 Prius. I’d love to own an EV, but no way am I going to look into getting one until the Prius isn’t driveable any longer. If that’s more than 12.6 years, so be it.
I’m in your camp. Take care of them and drive them into the ground.
I feel like driving a car into the ground isn’t taking care of it…
300k miles, then engine swap!
I can understand the lure of buying a new car. They’re neat and shiny and have features your car doesn’t. But it’s so wasteful and unnecessary. It’s not like upgrading a computer because it won’t work with any modern software and you won’t be able to use the internet. A model A Ford can drive on the same roads as a Tesla assuming it’s been maintained.
Macroeconomically, it’s not wasteful because cars find new life in resale. It’s definitely wasteful to your pocketbook to get a new car every 5 years.
Drive it until the frame is toast is what I do, then I buy the same car used and the old becomes a donor.
My baby turns 24 this year 🥹
I seriously have an emotional attachment to my car at this point. Driving something for so long, I’m going to be sad when it bites the dust. I’m shooting for another 10 years or until it hits 300k miles.
Wow 24 years and still under 300k? Impressive
I’m daily driving a 32-year old car. I have no interest in something newer. AMA.
Please tell us more. Make? Model? Any modifications? Your history with the car?
It’s a blue 1992 Mazda Miata with a hardtop. I’ve owned it for about 7 years. No mods besides basics like a bluetooth radio and a short fixed antenna (instead of the factory retracting whip antenna). Maintenance is easy and replacement parts are dirt cheap. Recently replaced the clutch master/slave cylinders for about $40 worth of parts. A set of four tires can easily be found under $400. It averages around 26.5 miles per gallon in combined city/highway driving and I got 32 on my last long distance highway trip.
Are you in a rust prone area?
I love my Miata but I sure as hell wouldn’t want to daily it. Especially in winter.
Ah man, I wish I lived in a climate where I could daily an NA Miata (or any other classic).
Seems about right. I rather continue keeping my current vehicle (2016) well maintained than to get a high interest loan with a overpriced price tag on a new OR used vehicle.
Seems right to me as well. I do buy new but always kept them until repairs cost more than the car is worth, generally 10-15 years in.
I’m sure someone willing to either do the repairs themselves or risk spending more, could keep my cars on the road even longer
How dare people decide to hold onto their current cars instead of paying 9% on a 60K car!
Won’t somebody please think of the shareholders?!?
I buy or lease every 3-4 years. Why? Because I can. I’m doing my part to make sure to eat the depreciation hit for people who want to buy them on the used car market and drive them to the wheels fall off.
There’s definitely good arguments for this, for some people, although I do believe many are making a mistake.
There’s an even better argument for leasing an EV, since the technology is changing so rapidly. A prime example is the upcoming shift to NACS chargers in the US. From the larger perspective, it’s an even better idea to help jump start the used EV market
On the bright side, at least planned obsolescence isnt in the auto industry???
Yeah, they typically just make things a pain to get to. Had to take the entire bumper off to change a single headlight bulb in dad’s car.
They also have been holding up better and last more miles. Unfortunately that means the road to switching to EVs is going to take longer.
Due to cost or reliability improvements? Or both? Because cars are definitely operational a lot longer than they were 25-50 years ago.
My 10 year old car has 4 wheels, a good engine, comfy seats and bluetooth. Heating and cooling are fantastic. It does not have sensors that shit themselves if you get too close to a road line, does not need to go to the dealership for an authorized computer reset after the oil is changed, and it doesn’t have any “eco” turbos waiting for their seals to leak.
What more can I ask from a vehicle? Maybe I’m getting old and cranky, but everything they’ve added to new cars is useless crap to distract drivers and eventually break.
My 2004 Subaru Forester is going to drive until the heat death of the universe if I can keep doing routine maintenance. Added bonus: it’s a manual so I get to be part of an ever dying breed of people who can drive stick. We’re almost at 200k miles and going strong.
They also last longer. Cars used to turn into a pile of rust before they hit 100k miles
I wonder if sellers will feel this pressure and bring prices down.
My new favorite game is:
When the news says “high prices”, replace it with “low wages”; “inflation” with “paycuts”.
The whole economy starts to make a lot more sense.
