Never again...
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- Location: Canada
Congrats on that final payment!
My car is paid off (a GENEROUS gift I received after college graduation so I'd have something reliable for years). I plan on keeping that thing until the tires fall off. I refuse to get involved in car payments. My family always bought used growing up and we never had a problem except for one car.
My car is paid off (a GENEROUS gift I received after college graduation so I'd have something reliable for years). I plan on keeping that thing until the tires fall off. I refuse to get involved in car payments. My family always bought used growing up and we never had a problem except for one car.
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I'm like you, djc. I've found that in the car range I tend to buy (low-end Hondas or Toyotas), if I find a good sale on a new one without all the extra bells and whistles (usually a loss-leader sale, and I don't need or miss any of the extras)that it's a better deal for me than a couple years old car (that usually was sold to some sucker with $3,000 worth of extras, so that the resale price is almost the same as my new "stripped" car).
For instance - my current ride is a 2009 Toyota Matrix, stick shift, plain jane (does have air conditioning though - a first for me!). I bought it at a loss-leader sale, no extras, for about $16,500. I figure, buying that new, and maintaining it well, and driving it for 200k, is as good or better a deal as buying used.
For instance - my current ride is a 2009 Toyota Matrix, stick shift, plain jane (does have air conditioning though - a first for me!). I bought it at a loss-leader sale, no extras, for about $16,500. I figure, buying that new, and maintaining it well, and driving it for 200k, is as good or better a deal as buying used.
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My current philosophy is to buy new and drive for 20+ years. It's really about total cost of ownership.
I've bought used cars in the past when I was driving a ton of miles. That's a bad combination. I regret doing that, as all savings is lost when you're paying someone $70 - $80/hour + parts markup to do major repairs every few months.
I've bought used cars in the past when I was driving a ton of miles. That's a bad combination. I regret doing that, as all savings is lost when you're paying someone $70 - $80/hour + parts markup to do major repairs every few months.
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