Consumer Reports Finds Maintaining Cars For 200,000 Miles Can Save Owners $Thousands
08-31-07, 04:42 PM
#16
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Yeah...for 40K he probably won't get a new 5-series, but he could have had his choice of several different new 3-series.
08-31-07, 05:07 PM
#17
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This is interesting but as Bit said, to elude to Bit's comment, how many people really want to have a car long enough to rack up 200k on it? I know there are some, but come on, that is pretty basic logic - keep you car twice as long as you would normally and you'll save money because you didnt buy a new one...
It comes down to buying the right car in the first place to have that desire to keep a car that long. If you buy American, you'll be sick of your car within a year or two. Buy a Toyota or Honda and you may very well be happy racking up 200K.
Buying a car with a timeless design will greatly help with long term ownership.
I have an SC400 and it's design will always look good. That's why I don't mind having a 15 year old car. A 15 year old Ford or Chevy? No way in hell!
08-31-07, 05:15 PM
#18
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And I wouldn't call CR FOS. They are the single best source for auto reliablity records.
08-31-07, 05:19 PM
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08-31-07, 05:35 PM
#20
Just curious and would like to read the article. The magazine I mentioned was BMW Magazine which BMW owners recieve quarterly. The 7 series in that Magazine had no major repair issues, like *cough* a starter, condenser, which can cost thousands in labor and parts. This vehicle was still going strong with over 300k on the clock.
08-31-07, 05:36 PM
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OK, one more post...
Let's figure average new car purchase (now appoximately $25K).
+ 5% sales tax
+ $350 for title, registration, ect.
$26,625 financed at a typical 60 mo.
= $537.31/mo
= $32,238.60 in total payments!!
So your "$25K" car costs $32K+ before all other costs.
And new car's insurence is a good amount higher too...
Just something to think about (most people don't)
Let's figure average new car purchase (now appoximately $25K).
+ 5% sales tax
+ $350 for title, registration, ect.
$26,625 financed at a typical 60 mo.
= $537.31/mo
= $32,238.60 in total payments!!
So your "$25K" car costs $32K+ before all other costs.
And new car's insurence is a good amount higher too...
Just something to think about (most people don't)
08-31-07, 06:10 PM
#22
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08-31-07, 07:34 PM
#23
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Except for one "fun car" that I bought cheap in the mid-1980s and almost never drove, I've had only three cars in the past 28 years - a Mercedes sedan bought new in 1979, an LS400 bought new in 1990 and a 2000 LS400 bought used in 2003.
I saved up and paid cash for two of the three cars and I used a short term loan on the other one until I could free up cash. I've saved a huge amount of money by not paying interest on car loans and I invested the money I saved in ways that provided an average annual rate of return substantially exceeding the 5% mentioned in the Comsumer Reports article.
It's not difficult to keep cars a long time if you buy cars that you really like
and if you maintain them properly. It certainly wasn't a stuggle to drive the 90 LS for almost 14 years.
It really is kind of funny when I think about it. The reason I can afford to pay cash for cars is that I pay cash for cars.
I saved up and paid cash for two of the three cars and I used a short term loan on the other one until I could free up cash. I've saved a huge amount of money by not paying interest on car loans and I invested the money I saved in ways that provided an average annual rate of return substantially exceeding the 5% mentioned in the Comsumer Reports article.
It's not difficult to keep cars a long time if you buy cars that you really like
and if you maintain them properly. It certainly wasn't a stuggle to drive the 90 LS for almost 14 years.
It really is kind of funny when I think about it. The reason I can afford to pay cash for cars is that I pay cash for cars.
09-03-07, 04:20 PM
#24
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Which mag was this ? Just curious and would like to read the article. The magazine I mentioned was BMW Magazine which BMW owners recieve quarterly. The 7 series in that Magazine had no major repair issues, like *cough* a starter, condenser, which can cost thousands in labor and parts. This vehicle was still going strong with over 300k on the clock.
Just curious and would like to read the article. The magazine I mentioned was BMW Magazine which BMW owners recieve quarterly. The 7 series in that Magazine had no major repair issues, like *cough* a starter, condenser, which can cost thousands in labor and parts. This vehicle was still going strong with over 300k on the clock.pg 60-65
And I was wrong, it was worse.
The 533i was $28,985 NEW in 1983.
In over a decade of ownership, the man has spent $54,309.22 to keep the car going and get it back in top condition.
The car doesn't have any mods like wheels, a bbk, a kit etc.
09-04-07, 08:51 AM
#26
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iTrader: (20)
Is it SOMEWHAT useful? Yes, it provide a general view in the REAR MIRROR of how cars have held up in the past, but that's about it. Yes, it shows Toyotas have in general been far more reliable than Chryslers, but I didn't need CR to tell me this.
Their reviews are extremely narrowly focused (reliability, safety, fuel economy) - they love boring safe appliance like transportation which Toyota has done so well.
Back to the thread though - well maintained cars last a long time and are cheaper in the long run than buying newer cars every couple of years. This is news?
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