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Post Info TOPIC: Laura's One Year Car
How long do you keep a new car? [9 vote(s)]

Never had a new car
0.0%
Still driving my first car
11.1%
Until I can't get parts anymore
33.3%
4 years and out
33.3%
lease for a few years (how many?)
0.0%
don't drive
0.0%
Other
22.2%
ed11563


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Laura's One Year Car
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Laura's One Year Car

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Dear Car Talk

Jul 16, 2015 (Archives)

 
buying
Dear Car Talk:

We are a happy one-car family but need to expand to two vehicles for a short while so I can do data collection toward my Ph.D. dissertation. I think I'll need a vehicle for about a year, and then I'd be ready to let it go again. What's the most affordable way to do this? I need something that's reliable for winter travel, and I don't mind having a payment for the short term. I just hate to get a three-year lease when I need a car for only 12 months. Of course, I will have a committee ... so maybe I'll need three years after all.

-- Laura

Judging from how long it took my brother to finish his dissertation, I think you might need one of those 84-month leases, Laura. Maybe two of them.

Actually, I have several options for you. The time-honored option is to borrow a car from a relative. But if that's not in the cards, the best solution is a late-model used car. Cars that are 3 to 5 years old tend to still be very reliable these days (assuming they've been checked out and OK'd by your own mechanic).

Because depreciation has already taken a huge bite out of the value of the car during its first few years, cars that are 3, 4 and 5 years old tend to be good deals: You'll probably pay less than half of what the car originally cost. And because depreciation slows down as the car gets older, you'll lose less when you sell it.

So, let's say you buy a 4-year-old Subaru Impreza, just as an example (with all-wheel drive for the winter). And let's say you find one with less than 60,000 miles for $12,000. If you don't beat it up too badly (if your data collection doesn't involve chasing polar bears around glaciers), you might be able to sell it a year later with 75,000 miles for $9,000 or $10,000. So that's the general approach I'd recommend.

A second option depends on the age and condition of your current car. If it's older and will need to be replaced in the next couple of years, you might consider buying a new or newer car as the "family car." You would use your existing car for a year to do your data collection. Then you'd sell the older car and keep the newer one as the family car when you finish your dissertation -- or in 2027, whichever comes first.

Good luck, Laura. Send us a copy of your tome when you're done. Like your friends and colleagues, we won't read it either, but I'm sure we'll be impressed by its heft.


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Lawyerlady


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I like to keep a car 8 years or so. But, at a minimum, we keep them 5 years. We only allow for one car payment at a time, so one car has to be completely paid off before we will buy a new second car.

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ed11563


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I've kept cars until it got more expensive to maintain and repair them than to replace them.

Except for the Volvo and the Volkswagen, that's been way more than 10 years.

 

Had to get rid of the Volvo when the warranty ran out. Everything that could leak, was leaking. Brake cylinders, a short hose in the cooling system below the intake manifold (VERY expensive), power steering fluid, transmission seal ... and water kept getting into the trunk and around the sunroof, in spite of the dealer's best efforts.

The Volkswagen had electrical problems the dealer couldn't fix. It was a stick shift, so I had to either jump start it every time, or park on a hill so I could get rolling, then pop the clutch in gear.

Again, out of warranty, out of my life.

 

Chrysler products have lasted a long time, and Toyotas have been great.

 



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huskerbb


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It depends. We try to update my wife's car every few years as she puts on a lot of miles. My pickup I've had for 10 years or so.

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Ohfour


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I keep a car until I'm tired of it. When something comes along that I like better, I will give my old to one of the kids and get another one. But my latest purchase was out of necessity. The babies can't ride in my car, so I bought one that was safe and good for them. But I still have the sports car...biggrinbiggrinbiggrin

I'm a cool grandmother...



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Lady Gaga Snerd


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We have 2 2005 Toyotas that are still running. They are starting to have annoying and expensive issues now. Not sure how much longer I will dink around with them.

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Lexxy


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I like to keep my cars a while. I've had my current one for 8 years. I had a couple that had defects & I couldn't deal with that so of they went. If I'm making payments on a car it better not malfunction. Gas & oil is all it better require.

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burns07


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everyone's situation is different--we have vehicles we've owned for twenty years or so that we're keeping--we have others that are drivers that we trade out of every couple of years ( or sooner )--really depends on how you plan to use them



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Tangerine


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My first two cars I had until they were falling apart- about five years each. I don't recommend dodge.
My next two I had for 7-8 years. We only kept the Altima for two years it was just terrible.
I've had the new one less than a year and I'm already thinking of trading it.
I'm planning to do a lot of research and test drives before choosing the next car since the last two turns out to be so unpleasant and uncomfortable.

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weltschmerz


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My car is 15 years old, but only has about 46,000 miles on it. I'm keeping it for as long as I can. She still looks pretty new, for an old gal. No rust.

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Fort Worth Mom


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My Jeep will turn 12 in October. (Belle is a 2004, that I bought in October of 2003.)

She's been paid off since 2006.

Only has 106,000 miles on her.

I'll run her till the wheels fall off.

I fear I won't be able to find another small SUV with a 5-speed.cry

Then, I will cry.

But, I'll worry about it....in about 10 years.biggrin (Belle runs great. I have no plans to get rid of her.)



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We usually have one car that is older, reliable, with a lot of miles on it that we drive into the ground and the other is a new car that we "splurge" on and baby. Right now we have a 2015 Nissan Rogue that we love (don't make me give up my heated seats!) and a 2007 (?) Pontiac Vibe with a lot of miles that is a real work horse. They are both great for different things.

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Lexxy


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Fort Worth Mom wrote:

My Jeep will turn 12 in October. (Belle is a 2004, that I bought in October of 2003.)

She's been paid off since 2006.

Only has 106,000 miles on her.

I'll run her till the wheels fall off.

I fear I won't be able to find another small SUV with a 5-speed.cry

Then, I will cry.

But, I'll worry about it....in about 10 years.biggrin (Belle runs great. I have no plans to get rid of her.)

 You are lucky.  I had a 2004 Jeep Gr Ch that gave me nothing but trouble.  I traded it in 2007 with less than 30,000 miles.



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Fort Worth Mom


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Lexxy wrote:
Fort Worth Mom wrote:

My Jeep will turn 12 in October. (Belle is a 2004, that I bought in October of 2003.)

She's been paid off since 2006.

Only has 106,000 miles on her.

I'll run her till the wheels fall off.

I fear I won't be able to find another small SUV with a 5-speed.cry

Then, I will cry.

But, I'll worry about it....in about 10 years.biggrin (Belle runs great. I have no plans to get rid of her.)

 You are lucky.  I had a 2004 Jeep Gr Ch that gave me nothing but trouble.  I traded it in 2007 with less than 30,000 miles.

And, there was your mistake, Lexxy.

You bought the expensive Jeep.wink

I've heard a lot of complaints about them.

I bought the cheap Jeep.

2004 Jeep Liberty Sport.

Paid $18,600, brand new.

She has been the best vehicle ever.

 She still has the original brakes and clutch.biggrin

Batteries and tires and oil changes have been about it.

Oh, and a powering steering pump back in March. (That only cost $300.)

I love my Jeep!smile



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Lady Gaga Snerd


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weltschmerz wrote:

My car is 15 years old, but only has about 46,000 miles on it. I'm keeping it for as long as I can. She still looks pretty new, for an old gal. No rust.

46K miles?   Do you take the bus? 



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Lexxy


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Fort Worth Mom wrote:
Lexxy wrote:
Fort Worth Mom wrote:

My Jeep will turn 12 in October. (Belle is a 2004, that I bought in October of 2003.)

She's been paid off since 2006.

Only has 106,000 miles on her.

I'll run her till the wheels fall off.

I fear I won't be able to find another small SUV with a 5-speed.cry

Then, I will cry.

But, I'll worry about it....in about 10 years.biggrin (Belle runs great. I have no plans to get rid of her.)

 You are lucky.  I had a 2004 Jeep Gr Ch that gave me nothing but trouble.  I traded it in 2007 with less than 30,000 miles.

And, there was your mistake, Lexxy.

You bought the expensive Jeep.wink

I've heard a lot of complaints about them.

I bought the cheap Jeep.

2004 Jeep Liberty Sport.

Paid $18,600, brand new.

She has been the best vehicle ever.

 She still has the original brakes and clutch.biggrin

Batteries and tires and oil changes have been about it.

Oh, and a powering steering pump back in March. (That only cost $300.)

I love my Jeep!smile

 Yeah I spent close to $40k on it back in 2004.  I went through rotors like most vehicles go through oil changes.  The heat would fritz out randomly & the final straw was when the seat heater popped out from the stuffing right under the leather while I was driving & burned a quarter size mark on my butt.  That just sent me over the top & I traded it.

It was a very pretty vehicles & was comfortable & easy to handle.  Mine was just a lemon.  I have a friend who swears by them & is on their 4th I think.  My neighbor had the same year & model & didn't have any of my problems.  I might try Jeep again when the Lexus dies, which better not be for another 10+ years.

 



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ed11563


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Fort Worth Mom wrote:

My Jeep will turn 12 in October. (Belle is a 2004, that I bought in October of 2003.)


I'll run her till the wheels fall off.


Make sure you get the wheel bearings and suspension mounts checked. I don't want those wheels to EVER fall off!



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chef


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My truck is 14 years old, somewhere around 155k miles. She's in decent condition. I need to get the back door fixed - it hasn't opened in about 4 years. It simply hasn't become enough of an issue to merit fixing yet.

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Lawyerlady


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Clark Howard says 10 years, BTW, to get your money out of it. After that, it usually requires too much maintenance.

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Until they are run into the ground. somewhere between 150 and 200K miles. My last car lasted ten years and is still running, it was a great bargain for the kid who bought it. I figure since my current car will be 8YO when DD gets her license, it will be hers and I will get a new one at that point.

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ed11563


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My parents used to trade in their cars every 4 years, after they'd just paid for new brakes, tires, muffler, shock absorbers, radiator and hoses, antifreeze and maybe an engine repair.

Of course, those were American cars made in Detroit, with a design life of one month more than the warranty period.

Mom said, "It's getting too expensive to keep it up, time to replace it." Of course, that was always just after she'd paid to fix it up for the next owner. cry

 



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