When do you get a new car?
03-17-07 | 10:40 PM
#1
Thread Starter
Lexus Test Driver
Joined: Mar 2004
Posts: 1,509
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From: MD
When do you get a new car?
For those who lease, it's an easy answer. For those who purchase, how do you decide and when do you get a new whip? Every 5 years? Every 100k miles? Whenever you get a new car itch, no matter the timeline? Drive it till it dies? In which case, what does "dies" mean to you? Repair bill > residual value of car? Totalled by insurance company?
Curious what some of y'all do, especially since I haven't completely decided myself what I want to do.
Curious what some of y'all do, especially since I haven't completely decided myself what I want to do.
03-17-07 | 10:52 PM
#3
I'm currently looking for a car because I'm moving back to the States from Tokyo.
Before that, I bought a car b/c I moved back to Japan from the States.
and before that, was when I was 17. I had a perfect driving record for a year and good grades so my parents got me a car
.
Incendiary>
if you're thinking about selling that E46, i'd keep it. ZHPs are so rare.
Before that, I bought a car b/c I moved back to Japan from the States.
and before that, was when I was 17. I had a perfect driving record for a year and good grades so my parents got me a car
. Incendiary>
if you're thinking about selling that E46, i'd keep it. ZHPs are so rare.
03-18-07 | 02:19 AM
#5
I've owned 6 vehicles and only one of them new. I guess I get bored and as bitkahuna says, "ready for a change." I plan on keeping the GS until it breaks though. For me, when the repair bills > residual value, it would probably time to purchase a new vehicle because that seems pretty logical. Unless, the car becomes a classic and it appreciates.
Last edited by sleeper408; 03-18-07 at 02:22 AM.
03-18-07 | 02:29 AM
#7
Lead Lap
Joined: Jul 2006
Posts: 740
Likes: 0
From: MA
I bought my GS right after I graduated, but that was only to hold me over until I had the money for a sports car. I got rid of the GS last weekend and I'm supposed to be picking up my Corvette on Tuesday, I can't wait
I'll probably keep the Corvette for a LONG time though, I've always wanted one
I'll probably keep the Corvette for a LONG time though, I've always wanted one
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03-18-07 | 03:26 AM
#8
There have been a few cars that I wanted to keep forever or at least a long time, but it seems like 3-5 years for me before I get a different car. I haven't keep a car longer than 5 years ever.
03-18-07 | 06:12 AM
#10
Thread Starter
Lexus Test Driver
Joined: Mar 2004
Posts: 1,509
Likes: 0
From: MD
I'm currently looking for a car because I'm moving back to the States from Tokyo.
Before that, I bought a car b/c I moved back to Japan from the States.
and before that, was when I was 17. I had a perfect driving record for a year and good grades so my parents got me a car.
Incendiary>
if you're thinking about selling that E46, i'd keep it. ZHPs are so rare.
Before that, I bought a car b/c I moved back to Japan from the States.
and before that, was when I was 17. I had a perfect driving record for a year and good grades so my parents got me a car
. Incendiary>
if you're thinking about selling that E46, i'd keep it. ZHPs are so rare.
There's this guy near my house who owns what seems to be three NSX's - two red and one yellow. Dunno the years and I can't differentiate them by quick glances, not a big enough NSX buff. Just thought I'd share, since you seem to be one of the bigger NSX fans on this board.
03-18-07 | 10:05 AM
#11
Lead Lap
Joined: Apr 2003
Posts: 451
Likes: 0
From: Oregon
After driving our '66 Toyota Corona for 20 years we decided to make a change to a MB 190, then 10 years later the GS300, then 10 years later the '06 GS430. So for sedans it looks like every 10 years and really based on technology changes rather than any problem with the car.
03-18-07 | 10:24 AM
#12
We're the long term types, that's why we pick a car that suits us and is enjoyable to drive. Fine if you have the $$ and don't mind the depreciation even at that, I'm conservative.
That in mind, I don't plan cars for less than 8-10 years and goal is 12-15 years.
Replacement will come when a major component is in need and the value of the car is comparable to the part. That usually means I let them go around $2-3K in value ~160-200K miles. At current schedules, I'll let this LS go around 2009-10.
(Thinking the minor change to the LS460 will be about that time.)
That in mind, I don't plan cars for less than 8-10 years and goal is 12-15 years.
Replacement will come when a major component is in need and the value of the car is comparable to the part. That usually means I let them go around $2-3K in value ~160-200K miles. At current schedules, I'll let this LS go around 2009-10.
(Thinking the minor change to the LS460 will be about that time.)
03-18-07 | 10:30 AM
#13
Super Moderator
Joined: Oct 2002
Posts: 30,118
Likes: 226
From: Canada
Whenever I feel like it 
, especially I when I see a new model coming out that I really want. I usually try to keep them at least 4-5 years though, & try to be financially responsible with cars, as new cars ( & mods) depreciate fast, so I try to spread the depreciation over a longer period of time.
I've traded one car only after one year though - Acura CL-S for G35 coupe, I don't think I will ever do that again LOL
, especially I when I see a new model coming out that I really want. I usually try to keep them at least 4-5 years though, & try to be financially responsible with cars, as new cars ( & mods) depreciate fast, so I try to spread the depreciation over a longer period of time.I've traded one car only after one year though - Acura CL-S for G35 coupe, I don't think I will ever do that again LOL
03-18-07 | 10:49 AM
#14
Lexus Fanatic
Joined: Oct 2003
Posts: 91,604
Likes: 89
From: Virginia/D.C. suburbs
There is no one set answer. It depends on the cars involved, their cost, the person's income, personal property taxes, insurance costs, what their driving needs, desires and priorities are....MANY different things. ( That is why I spend SO much time discussing this with so many people )
For the majority of people, in everyday driving conditions, with average incomes, looking at the most commonly-bought vehicles, a trade-in for a new model every 4-5 years is a good proposition. Get rid of a new car too soon and you get eaten up by depreciation. Keep a car too long and it simply loses too much value, starts to cost money in repairs...and then it costs you TOO much to get back into a new one again.
With Hyundais, Kias, and other vehicles with 10-year/100,000 mile drivetrain warranties, there is an incentive, of course, to keep them and take advantage of the long-term coverage, but then you have to consider the ultimate depreciation loss....the car will be worth little after that long a period.
Many people believe that the old "drive it till it dies" law is the way to go. In some cases, this DOES make sense, especially with cheap and very reliable vehicles, but in most cases, I don't agree with this view....for several reasons. First, the fact that you then have a car that is basically worthless. Second, any vehicle, as it ages, inevitably wears.....even the best and most reliable Japanese models. If you're driving through a seedy neighborhood at 2 or 3 in the morning, the last thing you need is a broken drive belt or a coolant hose. Third, it costs money to maintain a car properly.......parts and service, especially at dealerships, can be expensive, especially for German upmarket brands. That money could be just as easily spent going toward a new car instead of expensive parts for an old one.....most shops and dealerships make their real money from non-warranty service, NOT new-car sales.
However, that doesn't mean one should replace their car at less-than-necessary intervals. I know people who do that ( sometimes against my recommendation ) simply because they can afford to.....to them, a new car every year is a status symbol. IMO that is money lost that could be going towards other things......like retirement.
For the majority of people, in everyday driving conditions, with average incomes, looking at the most commonly-bought vehicles, a trade-in for a new model every 4-5 years is a good proposition. Get rid of a new car too soon and you get eaten up by depreciation. Keep a car too long and it simply loses too much value, starts to cost money in repairs...and then it costs you TOO much to get back into a new one again.
With Hyundais, Kias, and other vehicles with 10-year/100,000 mile drivetrain warranties, there is an incentive, of course, to keep them and take advantage of the long-term coverage, but then you have to consider the ultimate depreciation loss....the car will be worth little after that long a period.
Many people believe that the old "drive it till it dies" law is the way to go. In some cases, this DOES make sense, especially with cheap and very reliable vehicles, but in most cases, I don't agree with this view....for several reasons. First, the fact that you then have a car that is basically worthless. Second, any vehicle, as it ages, inevitably wears.....even the best and most reliable Japanese models. If you're driving through a seedy neighborhood at 2 or 3 in the morning, the last thing you need is a broken drive belt or a coolant hose. Third, it costs money to maintain a car properly.......parts and service, especially at dealerships, can be expensive, especially for German upmarket brands. That money could be just as easily spent going toward a new car instead of expensive parts for an old one.....most shops and dealerships make their real money from non-warranty service, NOT new-car sales.
However, that doesn't mean one should replace their car at less-than-necessary intervals. I know people who do that ( sometimes against my recommendation ) simply because they can afford to.....to them, a new car every year is a status symbol. IMO that is money lost that could be going towards other things......like retirement.
Last edited by mmarshall; 03-18-07 at 11:22 AM.
03-18-07 | 11:13 AM
#15
Lexus Champion
Joined: Feb 2005
Posts: 1,809
Likes: 0
From: NYC Raised But ATL is where I stay.
There is no one set answer. It depends on the cars involved, their cost, the person's income, personal property taxes, insurance costs, what their driving needs, desires and priorities are....MANY different things. ( That is why I spend SO much time discussing this with so many people )
For the majority of people, in everyday driving conditions, with average incomes, looking at the most commonly-bought vehicles, a trade-in for a new model every 4-5 years is a good proposition. Get rid of a new car too soon and you get eaten up by depreciation. Keep a car too long and it simply loses too much value, starts to cost money in repairs...and then it costs you TOO much to get back into a new one again.
With Hyundais, Kias, and other vehicles with 10-year/100,000 mile drivetrain warranties, there is an incentive, of course, to keep them and take advantage of the long-term coverage, but then you have to consider the ultimate depreciation loss....the car will be worth little after that long a period.
Many people believe that the old "drive it till it dies " law is the way to go. In most cases, I generally don't agree with this view....for several reasons. First, the fact that you then have a car that is basically worthless. Second, any vehicle, as it ages, inevitably wears.....even the best and most reliable Japanese models. If you're driving through a seedy neighborhood at 2 or 3 in the morning, the last thing you need is a broken drive belt or a coolant hose. Third, it costs money to maintain a car properly.......sparts and service, especially at dealerships, can be expensive, especially for German upmarket brands. That money could be just as easily spent going toward a new car instead of expensive parts for an old one.....most shops and dealerships make their real money from non-warranty service, NOT new-car sales.
However, that doesn't mean one should replace their car at less-than-necessary intervals. I know people who do that ( sometimes against my recommendation ) simply because they can afford to.....to them, a new car every year is a status symbol. IMO that is money lost that could be going towards other things......like retirement.
For the majority of people, in everyday driving conditions, with average incomes, looking at the most commonly-bought vehicles, a trade-in for a new model every 4-5 years is a good proposition. Get rid of a new car too soon and you get eaten up by depreciation. Keep a car too long and it simply loses too much value, starts to cost money in repairs...and then it costs you TOO much to get back into a new one again.
With Hyundais, Kias, and other vehicles with 10-year/100,000 mile drivetrain warranties, there is an incentive, of course, to keep them and take advantage of the long-term coverage, but then you have to consider the ultimate depreciation loss....the car will be worth little after that long a period.
Many people believe that the old "drive it till it dies " law is the way to go. In most cases, I generally don't agree with this view....for several reasons. First, the fact that you then have a car that is basically worthless. Second, any vehicle, as it ages, inevitably wears.....even the best and most reliable Japanese models. If you're driving through a seedy neighborhood at 2 or 3 in the morning, the last thing you need is a broken drive belt or a coolant hose. Third, it costs money to maintain a car properly.......sparts and service, especially at dealerships, can be expensive, especially for German upmarket brands. That money could be just as easily spent going toward a new car instead of expensive parts for an old one.....most shops and dealerships make their real money from non-warranty service, NOT new-car sales.
However, that doesn't mean one should replace their car at less-than-necessary intervals. I know people who do that ( sometimes against my recommendation ) simply because they can afford to.....to them, a new car every year is a status symbol. IMO that is money lost that could be going towards other things......like retirement.
Great rationale there, along with a few others previously posted. I'd like to add like when B.B. King used to sing "The Thrill is Gone". That's when I find its time to let go. BMW CPO ads say it best when they say, you should drive with your heart and buy with your mind. There's always going to be temptation when newer models come out and car companies know this wither their 3 year facelifts.