How long do you keep your car?

[Anonymous]

I’ve always believed you should buy a few years used and keep the car forever. But on a whim I wanted to see what my car is worth. Carvana offered me $2k less than what I paid for it 5 years ago (it’s a 2012). I’m not in love with the car, so I’m selling it.

Maybe when I buy again (not in a hurry since apparently there’s low inventory) I’ll try the same thing all over again. Or if the next car isn’t worth anything in five years I’ll just keep driving it.

[Anonymous]

HHI is $270k

DH just bought a new Ford Escape hybrid (brand new) - last car he bought used and had for 9y (car was 12y when he traded it) and the cost of repairs outweighed the value of the car.

I have a minivan...van is 9y old and I have had it for 6y. I am hoping to get another 3y out of it.

We typically drive cars until the cost of repairs outweighs the value of the car. I drive about 65 miles/day (just to/from work.) DH drives far less. Neither of us want/drive expensive cars.

[Anonymous]

HHI $700K+
BMW - 11 years
Audi 4 years - had the last Audi for 10 years

The cars are running well and still look good. No need to change.

[Anonymous]

HHI $400K

We usually keep each car about 7-8 yrs. Sometimes 9-10 if its running well and repairs are reasonable.

We also stagger replacement so we aren't buying two new cars around the same time, just one every 4 yrs or so.

[Anonymous]

Anonymous wrote:HHI $400K

We usually keep each car about 7-8 yrs. Sometimes 9-10 if its running well and repairs are reasonable.

We also stagger replacement so we aren't buying two new cars around the same time, just one every 4 yrs or so.

This is us too but HHI is $300k.

[Anonymous]

Lotta wealthy people here!

[Anonymous]

Anonymous wrote:$1M

2018 Honda
2019 Mercedes
2021 Mercedes

We generally replace our cars every 3-6 years, depending on the car and if we really like it. More recently it's been closer to the long end with both my wife and I holding on to our cars for 6 years before replacing them.

I don't drive cars until they die because it's usually a poor financial choice. I enjoy working on my own cars and just did a brake flush on the Honda this past weekend.

How do you figure it is a poor financial choice? Assuming a car is dead when it needs a big repair that is not worth it. I just drive my last one for 17 years. It only needed 1 big repair beyond basic maintenance the whole time. I got rid of it when the brake lines were rusting and I did not want to make that repair.

[Anonymous]

A nice car makes me happy. $200 or even $1500 a month for a car is s rounding error for me. This thread is very depressing.

[Anonymous]

Anonymous wrote:A nice car makes me happy. $200 or even $1500 a month for a car is s rounding error for me. This thread is very depressing.

It depresses you to know that complete strangers have different priorities?

[Anonymous]

Anonymous wrote:A nice car makes me happy. $200 or even $1500 a month for a car is s rounding error for me. This thread is very depressing.

Good one.

[Anonymous]

Anonymous wrote:$1M

2018 Honda
2019 Mercedes
2021 Mercedes

We generally replace our cars every 3-6 years, depending on the car and if we really like it. More recently it's been closer to the long end with both my wife and I holding on to our cars for 6 years before replacing them.

I don't drive cars until they die because it's usually a poor financial choice. I enjoy working on my own cars and just did a brake flush on the Honda this past weekend.

A Honda can last for 20 years with only some minor maintenance. I know because i had one. It was still running 100% fine but I had to get rid of it because after 20 years I hated that car! It was paid off for over 15 years, I paid NO Va property tax on it because it wasn't worth very much and insurance was incredibly cheap. I saved a TON of money by driving that car for as long as I did.

You live in fantasy land if you think replacing your car every 3 years is a good financial decision. Or you sell cars for a living...

[Anonymous]

HHI 526, bought a new Honda Fit in 2013 and plan to drive it until it dies. I hate spending more money than necessary on cars that because as long as it’s reliable I see no real advantage in spending more money.

But actually the biggest reason I don’t want to upgrade is that I’m not particularly good at keeping my car clean and I don’t want to mess up a nicer car.

[Anonymous]

10-20+ years. We still have a 1998 car but don't drive it daily. Generally 12+ years. We try to rotate every 5-6 years and pay cash. Our HHI is usually around $160, sometimes more, sometimes less.

[Anonymous]

I keep my cars 4 years, which is the length of the factory warranty.

[Anonymous]

HHI $310k ish

2016 mini van (when we had our last kid).
65k miles
No immediate plans on upgrading.