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Reply to "Car ownership is now a luxury"
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[quote=Anonymous][quote=Anonymous]Okay where are you guys finding all these fantastic used cars that last forever? Please help a fella here. I bought a used 2020 Corolla 2 years ago and it's been issues after issues. I don't have any skills to fix cars. My mechanic is reasonable in cost. Maybe I am unlucky, but it has not been cheap owning this car. Next time, how do I find a good used car? I bought mine from a Toyota dealership as a certified pre owned. Unfortunately within a year of ownership everything started unraveling. And forget about the extra warranty they sell you. It's a scam because suddenly everything is "wear and tear" so not covered. I'll just find the cheapest new car I can find next time and save myself some headache [/quote] We drive these old cars, but we purchased them new. That way you know what you are getting. Drove a 2010 Acura MDX for 12+ years. It got essentially a rebuilt engine at 6 years old/65Kmiles (when Honda/acura had major issues), all paid for by Acura (I got a rental car while work was done--took 2 week). I drove it until 125K, then decided we didn't need that vehicle. So we sold it for $12K (Car Max---could have gotten more with self sale) It would have easily gone another 75-100K, but we no longer needed that vehicle (downsized to a 1 car family in the city). So I paid ~$40K for the vehicle, and 12 years later got $12K. And it had some body dents that would have taken me $3K to fix. So I used a car for 125K miles, and got over 25% of what I paid for it back. My insurance was lower because it was older and it was a great safe car Only issue was the engine and I got that fixed within 2 months of the first signs (manager knew I wasn't taking no for an answer one the issue started, I knew about the issues) But even if you financed for 5 years, I had 7 years to save my car payment and with the 12K could have had $35K+ to put towards a new car when I sold. [/quote]
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