How long do you keep your cars?

[Anonymous]

Anonymous wrote:Until they die, or need more money spent on repair than the car is worth

+1

[Anonymous]

We have a 1968, 1999, and a 2010.

[Anonymous]

Anonymous wrote:I usually buy new and keep them 8-10 years. How about you?

Same.

[Anonymous]

We usually buy 2 year old cars and keep them for 8-10 years. We get bored of them eventually and end up selling while they still have some value.

[Anonymous]

I have a 10 year old Honda. I want a new car but the current one works fine, so I'm holding onto it for a while.

[Anonymous]

Anonymous wrote:Wow you all drive some real junkers. I’m amazed by this. This is not at all representative of what o see driving around town.

Because zero car payments are fantastic.

Cars are a massive waste of money. Even if you pay cash it is stupid. Throwing a huge amount of liquidity into a furnace on a depreciating asset is a terrible way to generate wealth.

We drive a 2016 Mazda 3. Bought it while were poor. We make far more money now, yet keep driving it because it is paid off and it works. I just paid to fix the suspension and did a lot more maintenance. Hope it lasts another 5+ years so we don't have car payments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow you all drive some real junkers. I’m amazed by this. This is not at all representative of what o see driving around town.

Because zero car payments are fantastic.

Cars are a massive waste of money. Even if you pay cash it is stupid. Throwing a huge amount of liquidity into a furnace on a depreciating asset is a terrible way to generate wealth.

We drive a 2016 Mazda 3. Bought it while were poor. We make far more money now, yet keep driving it because it is paid off and it works. I just paid to fix the suspension and did a lot more maintenance. Hope it lasts another 5+ years so we don't have car payments.

But I look good so who cares!

[Anonymous]

7-8 years

[Anonymous]

The longest I've ever had a car for was for 15 years. I didn't like the car as it was too small but I had no payments. When it died, I bought my current SUV which I've had for 8 years and is so much more enjoyable to drive than my last car.

Life is too short to be driving around in a clunker.

[Anonymous]

One car is 13 years old, one car is 2 years old. Planning to keep the 13-year-old one until it needs more than 25 percent of its value in repairs (which may be never?); planning to keep the 2-year-old one at least until its battery is out of warranty (which is after 8 years), probably longer.

[Anonymous]

Anonymous wrote:Until they have a repair that does not make sense to fix. My last car was 17 years old when replaced. DH just got a new one at 13. A/C was not working and suspension and tires needed replacing. We replaced with a used due to the crazy dealer markups.

Ya. My current car is 18 year old and going strong (2005 Toyota). It's our only for a family of four (in the city, so we don't have to use it much).

I get a little excited thinking about what we can buy next.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow you all drive some real junkers. I’m amazed by this. This is not at all representative of what o see driving around town.

Because zero car payments are fantastic.

Cars are a massive waste of money. Even if you pay cash it is stupid. Throwing a huge amount of liquidity into a furnace on a depreciating asset is a terrible way to generate wealth.

We drive a 2016 Mazda 3. Bought it while were poor. We make far more money now, yet keep driving it because it is paid off and it works. I just paid to fix the suspension and did a lot more maintenance. Hope it lasts another 5+ years so we don't have car payments.

Yes.

I bought my 2005 Toyota Corolla in 2007 for $9000. It was in GREAT condition. Never had a car payment. We considered trading it in to buy another and the trade in value is $2000. So basically I spent $7000 to drive this car for 15 years. It gives me a lot of pleasure to think about.

Our house is worth over a million and we love it. But I just can't stomach spending money on cars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Wow you all drive some real junkers. I’m amazed by this. This is not at all representative of what o see driving around town.

Because zero car payments are fantastic.

Cars are a massive waste of money. Even if you pay cash it is stupid. Throwing a huge amount of liquidity into a furnace on a depreciating asset is a terrible way to generate wealth.

We drive a 2016 Mazda 3. Bought it while were poor. We make far more money now, yet keep driving it because it is paid off and it works. I just paid to fix the suspension and did a lot more maintenance. Hope it lasts another 5+ years so we don't have car payments.

who says I'm trying to generate wealth?

We buy new (with cash, usually, or 0% financing for X amount of time and pay it off before interest kicks in) and keep our cars for 5-7 years. We don't buy anything overly fancy or luxurious (I currently drive a 2021 Mazda CX-5 and DH has a 2019 Subaru Legacy) but we can afford it, and like driving newer cars. *shrug*

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Wow you all drive some real junkers. I’m amazed by this. This is not at all representative of what o see driving around town.

Because zero car payments are fantastic.

Cars are a massive waste of money. Even if you pay cash it is stupid. Throwing a huge amount of liquidity into a furnace on a depreciating asset is a terrible way to generate wealth.

We drive a 2016 Mazda 3. Bought it while were poor. We make far more money now, yet keep driving it because it is paid off and it works. I just paid to fix the suspension and did a lot more maintenance. Hope it lasts another 5+ years so we don't have car payments.

who says I'm trying to generate wealth?

We buy new (with cash, usually, or 0% financing for X amount of time and pay it off before interest kicks in) and keep our cars for 5-7 years. We don't buy anything overly fancy or luxurious (I currently drive a 2021 Mazda CX-5 and DH has a 2019 Subaru Legacy) but we can afford it, and like driving newer cars. *shrug*

Yes, there are a lot of financially dumb people out there but that's okay.

[Anonymous]

Anonymous wrote:I usually buy new and keep them 8-10 years. How about you?

This is us too. Among our friends and neighbors I feel like they only keep cars 4-5 years, some even less. We are outliers for sure. Which suprises me because we are not in that expensive of a neighborhood, but the cars are $$$$.