How long do you keep your cars?

[canuk-gal]

HI:

I like new vehicles. I think 20Kms on a ride is a lot!!! My DH rolls his eyes at me.

cheers--Sharon

 

[Modified Brilliant]

Normally 3 year leases, but decided to keep my 2015 and see how many miles I can get until it dies. I'm at 71K now, but car still looks like new.

 

[Elizabeth35]

Just out of curiosity---does anyone here calculate their cost per mile or cost per month/year for car ownership? Because I am a financial nerd and I do calculate how much my vehicle costs me.
And for those who lease--do you ever calculate your total cost per month including sales tax, down payment and monthly lease payment? I figure the insurance and gas costs are equal if you own vs. lease.

For example, I bought a basic Nissan Sentra in 2007 new (with 0% financing) for $14K. I drove it for 68K miles over 5 years. It got totaled in an accident and I received $10,800 from insurance. So my cost per mile was about .05/mile for the basic vehicle. Obviously does not include insurance and gas and my only repairs were oil changes and basic service.

Does anyone build in their repairs and insurance plus gas mileage to look at their total cost?

 

[Karl_K]

until they go to the junk yard.

 

[Girlfriday17]

We’ve had our Audi for 9 years this May and my husband has no intention of getting rid of it. He however also owns a 1972 Olds Cutlass that he’s had since he was 17 (he was born in 1973) and he’s working on restoring it (I got my ACA) he gets to do that. My VW got an upgrade 3 years ago due to and excellent trade in and settlement but I’m hoping to have it for at least another 10 years.

 

[Txborn79]

Two vehicles ago I had a 2007 Ford Expedition that I kept until 2017, there was nothing wrong with it, I just wanted updated electronics, etc. We kept if for about 6 more months after I got a new to me 2015 Yukon Denali and then sold the Expedition to my sister and it’s still going strong.

I only had the Yukon for about 6 months when someone ran a red light and hit the front. After all was said and done it ended up costing our insurance $26k to fix (thankful for uninsured motorist insurance). After that it was never “right” again, had rattles that drove me crazy and some other annoying quirks so we traded it in, in 2018, on a 2018 Lincoln Navigator and that’s what I have now. We lost money trading it in because of the wreck but because it was an uninsured claim, our insurance paid us loss of value.

My husband drove his 2006 Dodge Ram 2500 until late 2019. He bought a 2019 F350 but still drove the Dodge back and forth to work. He was heading home one day and the engine locked up. Thankfully he had the new truck to drive. We had the engine rebuilt and kept it for about a year but it was rarely driven so we sold it.

Our vehicles have always had low mileage, probably max 6,000-8,000/year but now he drives a lot for work and puts about 1,000 miles a month just commuting to and from his job twice a month (works 2 weeks on, 2 weeks off)

 

[MRBXXXFVVS1]

We buy a new car every few years and pay cash. I don't like the hassle of repairs and prefer the newest safety features.

 

[OboeGal]

Until they get totaled.

Wish I was kidding, but......the only car I was able to drive to absolute mechanical failure was my very first little beater car I bought during college. The next 4 Toyotas: 1) totalled when I turned left in front of an oncoming car at a bad intersection (totally my fault); 2) totalled when an uninsured driver driving a car without permission with a suspended license slammed into me (totally his fault); 3) totaled when I spun out on an icy on-ramp (the weather's fault, according to the highway patrolman); and 4) totaled when I rear-ended a pickup truck in the rain because I was apparently hydroplaning (even though I wasn't going fast and was with the flow of traffic) so when he stopped and I hit the brakes to stop as well - ABSOLUTELY NOTHING HAPPENED! A reeeeally horrible feeling. Around then was when DH and I got married, and we bought a used 2004 Honda Civic and a used 2004 Toyota Sienna. We drove the Civic for 13 years and 130,000+ miles - we both worked a lot from home, so not a lot of commuting miles - until a deer decided to jump out in front of me late one evening as I drove home from a playing gig 2 years ago. Aaaaaaaand........yup - totalled.

So, we still have the Sienna, which only has 70,000 miles on it or so, and we'd like to drive it until we feel like too much is breaking down on it - which might come fairly soon, unfortunately. We replaced the Civic with a 2016 Camry with low miles that's a reeeeeeally niiiiice car that we intend to drive until it also starts to become unreliable as well. That is, if DH can suppress his VERY intense urge to get an electric car sooner.

 

[kenny]

Nowadays, Next to impossible to find one.

... which is why my post included, "If none of the model I want are made in Japan I select another model."

 

[LilAlex]

Just out of curiosity---does anyone here calculate their cost per mile or cost per month/year for car ownership?

Yes. My car is $0.10 per mi for fuel and $0.10 per mi for tires . It's old but it's fun.

Spouse's car is $0.01 per mi (!) for fuel and tires last forever. EV plus cheap power in our neck of the woods.

 

[kenny]

EVs are not so great for one's carbon footprint if the electricity that charges yours is generated by a source like dirty coal.
So, check the source of your electricity.

 

[nala]

Every 3 years I treat myself to a new car. I live in So Cal. I drive. I want to enjoy the ride. Don’t want to stress about repairs. It’s a splurge but well worth it.

 

[Bron357]

We buy dealer demonstrators or under 1 year, rather than new, and then sell before they turn 10.
Buying brand new sees you drop 5% to 10% value as you drive out of the dealership (new cars here have a higher tax than pre owned as well).
At the moment my little Merc is again giving me grief. Firstly I broke the sunshade of the sunroof, a stupid flimsy 50 cent plastic piece that took, oh, 6 mechanic hours to replace. Then I had the almost “fatal” engine failure (just a $6k repair) and yesterday I opened accidentally the sunroof and double “hit” the button (so open,close,open) taking the sun roof off it’s track. Gawd. Booked in again with the Mechanic.
Love of my little Merc is rapidly fading.

 

[Dancing Fire]

... which is why my post included, "If none of the model I want are made in Japan I select another model."

In 2001 when I bought my Tacoma truck I try to find one that was made in Japan but all of them were built in Freemont Ca., then in 2007 we were shopping for a Honda Civic for DD the dealership had both Japanese made and American made on the lot for the same price so of we bought the Japanese made car.

In 2017 when my wife was shopping for her Lexus RX350 there were only like 25% of that model made in Japan.

Nowadays, Does Toyota and Honda still export to the US?

 

[chrono]

150K miles and still going strong so I see no reason to change unless the repairs get super expensive. With WFM, all the more reason to keep the car longer.

 

[KaeKae]

Until it's more expensive to keep running than it would be to buy another.

 

[diamondseeker2006]

I always pay cash for a small modest entry-level high-MPG new Toyota or Honda.
I ensure the VIN starts with J, meaning it was made in Japan.
If none of the model I want are made in Japan I select another model.
I take it to the dealer for all maintenance, except I do all in-between oil changes myself.
I keep it average of 10 years.
I always sell it private party ... every time it happens to sell to a young straight latino couple with 2 young kids - no joke - every time.

Buying a car with crappy reliability and/or low resale value makes lots of money go poof.
Keeping a car too long or too short makes lots of money go poof.
Trading in a car makes lots of money go poof.
Leasing a car makes lots of money go poof.
Financing a car makes lots of money go poof.

Money not going poof helps one pay for a new car with cash, so again less money goes poof.

Kenny, I am just the same! I don't get entry level, but we ONLY get highest reliability cars (Toyota and Honda for us and kids) and we pay cash and keep them for at least 8 years! (And usually at that point we have passed them down to a kid!) My current car is a 2013 Toyota Venza and I hate to jinx myself, but it has never needed any repair whatsoever. I actually love my car and really don't want to give it up because the new Venza's are smaller and the Highlander is larger! I like Lexus but they say the new Venza is Lexus level in Japan. So I guess I might consider it when we go look. But for now, I'd rather drive my car and spend money on more fun things, like bling!

 

[DiamondGal28]

I like cars, spend a lot of time driving (when commuting was a thing) and would trade out often. I'd always buy used, usually 2 or 3 years old based on model and depreciation sweet spots. My current is a 2013 GLK 350 with just under 100k miles that I've had almost 5 years. 5 years is definitely a personal best for length of ownership. I think about getting something different but I keep coming back to how much I like this little car with the peppy engine.

I also have a 2011 BWM 1 series convertible I bought for myself a few years back as a promotion gift. I had wanted one since they first came out back when I was a teen. I will keep that fun little car as long as its road worthy.

 

[lilmosun]

Until it's no longer reliable or I can't get parts. I don't like having payments of any kind. Probably why I still live in my first house.

I owned my first Volvo (850) until I was told that I had to wait until a part came from Sweden to pass inspection. I loved that car and could've driven it forever. Nothing has been as reliable.

I then bought a preloved 2005 and gave it to my son when he needed a car for his college internship....which he still drives.

I currently drive my mid-life crisis care..-- a 2012 Volvo C70 convertible....I've had a few offers to buy above market as they aren't made anymore but I can't imagine giving it up.

As an FYI - my mom has a 2001 Honda Civic which I drive when I visit...it only has 30,000 miles.

 

[AnastasiaBeaverhausen]

My first car, I bought preowned for like $2500 cash . Drove it everywhere for 5 years until repairs were gonna cost more than the car was worth. So away it went. Now I've had my current car for 9 years and going. It still drives just fine. But after the last couple of snowstorms, I've been dreaming of a hybrid AWD. So we'll see how much longer I'll be keeping my current car...

 

[susiegrneyes]

Another Honda owner here. I've had 3 civics: the first I bought with 130k miles and retired at 235k, the second had 160k miles with I got it and drove it until 200k, and my current civic I bought with 35k and currently has 75k miles.


I might own the oldest car among PS owners. My secondary vehicle is a 1997 Chevrolet Cavalier Convertible that I've owned 20 years.

 

[YadaYadaYada]

@susiegrneyes, my first car was a 1989 Cavalier Z24, it was not a convertible but boy it was a great first car. Forgot all about it until I saw your post!

 

[Mreader]

We have OLD Hondas - a 94 Accord and a 95 Civic. When my mom passed I inherited her 2016 Dodge Charger. We always got onto her for buying American gas guzzlers but OMG I LOVE that car. I can’t believe how much I love it and now our Hondas feel so dinky haha. But yes we basically will drive them until they are undrivable. Plus I want my son to learn to drive a stick shift which you can hardly buy anymore. When we got my mom’s car we still kept both the Hondas.

I am also kind of cracking up that so many of the PSers with big bling are also the Honda drivers!

 

[diamondseeker2006]

In 2001 when I bought my Tacoma truck I try to find one that was made in Japan but all of them were built in Freemont Ca., then in 2007 we were shopping for a Honda Civic for DD the dealership had both Japanese made and American made on the lot for the same price so of we bought the Japanese made car.

In 2017 when my wife was shopping for her Lexus RX350 there were only like 25% of that model made in Japan.

Nowadays, Does Toyota and Honda still export to the US?

I think some Toyota models are made in Japan. The new Venza SUV is made in Japan.

 

[rainydaze]

6-7 years, at which point DH and I are usually both at 150-180k+ miles. We are also Honda/Toyota fans (we prioritize reliability). All but my Odyssey had more life in them, however it was time to move on for other reasons.

Despite being Honda and Toyota fans, I have a Kia now and I love it. The quality of the interior was noticeably nicer than the other vehicles in its class, it drives beautifully, has top safety ratings, and is also wonderfully reliable. It has that stigma though... which one of my friends still believes so that was a fun moment when she made a comment. You get a lot of bang for your buck with Kias because they have had to offer more for less to overcome their poor reputation.

 

[Beagles]

Seeing this title while sleep-deprived, I read it as "How long do you keep your cats?" and thought "What????

 

[Dee*Jay]

My first Lexus (RX300) I bought new with cash and kept for 14 years. With 108K miles on it my best friend from law school and his partner talked me into selling it to them because they'd always loved it for some reason. That led to my second Lexus, which was a lemon. 2017 (I bought used with 11K miles on it) NX200T. Three fuel injectors went bad in the space of a year, the last time it was out of warranty and cost me almost $2K. When I picked it up from the dealer from being fixed I drove straight to Audi where I had already negotiated a deal on a new Q3. This one I financed... 1.49% for 60 months. In general I object to paying interest on vehicles, but after doing the math I realized I was making more in dividends by keeping the money in a particular investment than I'm paying in interest so I got comfortable with the concept. I hope to keep this car for a good long time.

My 911s I buy with cash. The first one I bought new, and sold back to the dealer after 18 months with less than 2,000 miles on it. Long story, but there was just no good place to keep it and I was in the middle of a complicated time consuming building conversion and didn't have the energy to deal with car storage too. The second 911 I bought used with 12K miles. It's the same year and color as the first one, but an S, so more horses. No idea how long I'll keep it, but I can't imagine I'd let this one go absent something extraordinary happening. Plus now I have more options in terms of storage. Hoping to get Billy Ray out this weekend as a matter of fact and welcome in the spring driving season. Vroom vroom!!!

 

[DAF]

I generally keep my cars for about 10 years. I had purchased a new Buick Rendezvous in 2003 and sold it privately in 2013. It had 269,000 miles on it and was still going strong. Looked new inside and out and only had one or two car door dings on it. My ex, an auto mechanic, had recommended selling it at that point to "get what I could out of it". I purchased a 2013 Buick Encore subcompact crossover then, which got better overall mileage than the highway number. I loved that little car, would turn on a dime, but you needed a lot of lane to merge onto the highway. It took 9.3 seconds to go from 0-60 mph. At that time, I was driving the NJ Turnpike 40 miles each way to and from work. They were expanding the roadway, and often times I would take the truck lanes when they had less traffic on them. My ex wanted me to get something bigger and safer. He didn't want to hear it when I said that the truckers were professional drivers and I had complete confidence in them. I purchased a 2017.5 Nissan Murano with all of the bells and whistles. It's a very nice, comfortable car, but I miss the gas mileage of the baby Buick, which had a turbo 1.3 litre engine.

 

[Austina]

Usually about 4 years, although I kept my lovely Saab 93 convertible for about 10 years, by which time my DH had retired, and we really didn’t need 2 cars anymore.

Current car was bought new knowing we’d have it about 5 years.

 

[elizat]

Until it's more expensive to keep running than it would be to buy another.

This. I do have a commute plus driving for work, but I can't say I enjoy driving. A new car doesn't make me happier to be driving.

I try to keep cars as long as I can.

I had a 2005 Hyundai Santa Fe I drove until 2013. I traded it at 140kish miles. It needed work and the work was more than the middle of the road trade value.

I have a 2014 Acura RDX now with about 130k miles. If not for Covid, it would be over 155k miles. I plan to keep it as long as the cost of repairs doesn't eclipse the value where it doesn't make sense to repair.