rppearso
Contributing Member
Cash: $ 9.05
Posts: 42
Joined: 22 Feb 2006
|
|
 |
|
quote:
Originally posted by littleroc02us
Used cars are always a better idea if you aren't a millionaire and can afford to buy it in cash. I don't care about all the interest rates and such. For example I just bought a Mitsubishi Galant for $9000 that had 49k on it and warranty left until 60k. The cost of a new one would be around 24k. But if you financed that vehicle for for 5 years at an interest rate of 6% your total cost at the end would be $28000. So, if I did have a problem with the car, I could three total cars for the cost of a new one. Hmmmmm let me see what the better deal is. All your paying for is the new car smell. Plus now that I think about it, aren't all vehicles out on the road used. They seem to be running fine for the most part.
Depends on what goes wrong with it, engine seal replacement, transmission work, new transfer case, etc can add up real quick. My ranger I owned from when it was new and it now has 100k miles on it and I had ot have things like that done and it was probably 6 or 7 k between seals, transmission work, water pump radiator, transfer case differential seals new battery windshield appulstry seat covers to prevent further wear.
I agree that financing it is not a good idea becuase you eat that money in interest but buying a new car or near new car (less than 10k miles) in cash is the way to go that way you get 80k miles beofre you have to start doing expensive work becuase most good warrenties are good for 60 or 80k miles. Also the hassle of having your car in the shop all the time and having to haggle with the mechanic sucks and not having to deal with that for 80k miles or ~6 years is gold, if something goes wrong when its new you just take it to the dealership and its done ASAP and you dont care about cost becuase its under warrenty but if you go to a dealership after warrenty you can probalby double thoes repair costs I quoted above.
so part of it is how much is your piece of mind worth and not having to haggle with a mechanic or hope your uncle joe has time to fix it for the cost of parts and beer as your car sits in his shop for 3 months. Or go to the dealership and take it straight up the rear.
|
Fri Mar 05, 2010 2:15 am |
|
|
oldguy
Senior Member
Cash: $ 275.50
Posts: 1315
Joined: 21 May 2006
Location: arizona
|
quote:
engine seal replacement, transmission work, new transfer case, etc can add up real quick. My ranger I owned from when it was new and it now has 100k miles on it and I had ot have things like that done and it was probably 6 or 7 k between seals, transmission work, water pump radiator, transfer case differential seals new battery windshield appulstry seat covers to prevent further wear.
You may have to try a Japanese car? If you are having all of those problems before 150,000 miles you may be selecting the wrong manufacurer.
quote:
becuase most good warrenties are good for 60 or 80k miles.
Keep in mind that you must pay for those warranties. A car maker can easily calculate the average repair cost for any model of car. So they simply add that cost to the price of the car, plus a profit. So if you get a good warranty, you are paying a good price for it when you buy the car. I prefer the 36,000 warranty, don't want to buy more than that.
|
|
Fri Mar 05, 2010 5:01 am |
|
|
rppearso
Contributing Member
Cash: $ 9.05
Posts: 42
Joined: 22 Feb 2006
|
|
|
|
quote:
Originally posted by oldguy
quote:
engine seal replacement, transmission work, new transfer case, etc can add up real quick. My ranger I owned from when it was new and it now has 100k miles on it and I had ot have things like that done and it was probably 6 or 7 k between seals, transmission work, water pump radiator, transfer case differential seals new battery windshield appulstry seat covers to prevent further wear.
You may have to try a Japanese car? If you are having all of those problems before 150,000 miles you may be selecting the wrong manufacurer.
quote:
becuase most good warrenties are good for 60 or 80k miles.
Keep in mind that you must pay for those warranties. A car maker can easily calculate the average repair cost for any model of car. So they simply add that cost to the price of the car, plus a profit. So if you get a good warranty, you are paying a good price for it when you buy the car. I prefer the 36,000 warranty, don't want to buy more than that.
Thats true but then you have to calculate what your piece of mind and time is worth, there is a VERY big difference between being able to take your car to a dealership becasue its under warrenty and taking it to Joes auto shop and haggle with him so you can get a good deal and make not getting the warranty worth your while. I guess since I have had to have a massive amount of work done I have a bit of a skewed opinion. The down side of a jap car is when you have to get them fixed its like 3 times as expensive to order forign parts. I think in most cases your right though, most people probably dont have the issues I do so a warrenty is a waste, in fact I dont buy warrenties or installation on anything else I buy either. Cars are just a huge pain in the rear becuase you utterly depend on them and they are so expensive and such a huge liability (they are definitly not an asset).
|
|
Fri Mar 05, 2010 5:20 pm |
|
|
littleroc02us
Senior Member
Cash: $ 180.50
Posts: 892
Joined: 09 Feb 2009
|
|
|
|
quote:
Originally posted by rppearso
Also the hassle of having your car in the shop all the time and having to haggle with the mechanic sucks and not having to deal with that for 80k miles or ~6 years is gold, if something goes wrong when its new you just take it to the dealership and its done ASAP and you dont care about cost becuase its under warrenty but if you go to a dealership after warrenty you can probalby double thoes repair costs I quoted above.
so part of it is how much is your piece of mind worth and not having to haggle with a mechanic or hope your uncle joe has time to fix it for the cost of parts and beer as your car sits in his shop for 3 months. Or go to the dealership and take it straight up the rear.
My used Mitsubishi has never been in the shop in the time I have owned it outright. What if you buy a new car and it is constantly in the shop, so what is the difference? I can still put in 10 engines before and 10 transmissions into my used car before I spend as much as you would on a new vehicle. My last Toyota Camry that I got for free at 170k miles ran to 230k and it didn't cost hardly anything for repairs. Again, all your paying for on a new car is depreciation, a warranty, deductibles on the warranty every time there is a repair and the new car smell. Enjoy those payments for life! Meanwhile, I'll invest the money in Roth IRA's and become a millionaire.
“If you want to stay in debt forever, keep borrowing money.”
|
|
Wed Mar 10, 2010 3:59 pm |
|
|
littleroc02us
Senior Member
Cash: $ 180.50
Posts: 892
Joined: 09 Feb 2009
|
quote:
Originally posted by rppearso
(they are definitly not an asset).
Actually, that isn't true, my car is paid for and still has $10000 of value.
“If you want to stay in debt forever, keep borrowing money.”
|
|
Wed Mar 10, 2010 4:01 pm |
|
|
AlFromLA
Contributing Member
Cash: $ 7.70
Posts: 37
Joined: 01 Mar 2010
Location: Los Angeles
|
cars are never a good investment so if you can sell now, its better than selling them tomorrow
What is a payday loan? Learn about payday loans at payday loan blog
|
|
Tue Mar 16, 2010 12:51 am |
|
|
|
