Some folks finance autos and are continually in debt. That's not for me. If I can't pay cash for something, I don't buy it.

Keep the present vehicles in good running order and avoid the stealerships.

 

I'm with you! Haven't had a car loan since the 80's. If I can't pay cash, I don't buy it. Paid off the house in '88. Moving to NV in '03, needed a bridge loan, but paid it off in a few months.

 

I refuse to spend that much money on anything that depreciates as quick as vehicles. Hence, I buy more affordable, and in today's market, potentially used vehicles. I've read there is a surplus of new model years stockpiled that date to 2021 and 2022 going for huge discounts. I'd look into them.

Jack

 

My last used purchases were 8-10 year old Toyota 4Runners with less than 80,000 mi. They were 1/3 the price of a current new vehicle and I was able avoid financing.

Cars made since 2000 should easily make 200k miles. Have your mechanic look it over for you, if you don't trust yourself. Look for the most reliable reputation vehicles--Toyota, Honda, Kia, Hundai. Something rust free. Be prepared to replace the battery and tires right after buying, if necessary. Otherwise should be good at least til 100k before any other maintenance is required. Don't be in a hurry to buy.

I've been able to develop a good relationship with a Toyota salesman over the years. I've bought at least 10 vehicles from him and sent him several customers. He treats me very well and finds excellent cars and deals for me. If I were to ask him to find a certain vehicle he would do it and let me know when it's there. We know each other well enough that when I ask for his best price, he gives it. No haggle, no hassle. And if I've checked that out at other dealers, it's better than their offers.

If you have an opportunity to do the same...

 

I drive a Ram diesel pickup and a Jeep Wrangler. The Ram has about 40,000 miles but the Wrangle is approaching 160,000. I priced a Toyota Tacoma with 4WD and cloth seats. $56,000! Replacing the diesel pickup is > $100,000. Who can afford such prices?

Not I, that's for sure!

 

Your Ram Diesel Pickup is not even broke-in at 40K. Same goes for the Wrangler at 160K. So, Unless you have some serious mechanical issues with either of them. Keep them and do the maintenance as needed. Because it shall cost you more to buy something new than it is to maintain them both. I won't even look at the new vehicles these days.

My own 2010 Power Wagon(26P) just went over 47K miles. I'm the original purchaser/owner. I keep it clean and well maintained. Ironically the local dodge dealership has offered me $60K for it. I refused. Because other than a couple recall notices (minor things) it hasn't given me any problems. Many put 47K or more miles on their trucks in the first year they own it...I say my truck isn't broken-in yet as well. I'll keep mine as long as I can and recommend everyone do the same. Because the days of buying a a New Dodge Pickup for $6k (still expensive back in 1968) is long gone. These days you could build a decent house for the amount of money these car dealerships are trying to get out of you to buy one of their new vehicles for.

Old Creek

 

Because it shall cost you more to buy something new than it is to maintain them both.

Amen!

 

It's funny... there is a new truck discussion going on another hunting forum I belong to. The member who started it wants a new truck, and was soliciting opinions from other members. So far every opinion has been in the 50K-100K range, and they are completely OK with those options.

For what it's worth that's not my world. I have a 2005 F-150 I paid 8K for a number of years ago. I am with @LakeOFan : I pay cash. My wife is a huge fan of Dave Ramsey and got us onto his methods years ago. Snowgos, my skiff, my Argo, truck... cash only. I almost drown in debt during a bad marriage earlier in life. I have no desire to go back to that. Debt free is the way to go.

 

It's funny... there is a new truck discussion going on another hunting forum I belong to. The member who started it wants a new truck, and was soliciting opinions from other members. So far every opinion has been in the 50K-100K range, and they are completely OK with those options.

For what it's worth that's not my world. I have a 2005 F-150 I paid 8K for a number of years ago. I am with @LakeOFan : I pay cash. My wife is a huge fan of Dave Ramsey and got us onto his methods years ago. Snowgos, my skiff, my Argo, truck... cash only. I almost drown in debt during a bad marriage earlier in life. I have no desire to go back to that. Debt free is the way to go.

Ditto! Ditto! Ditto!!!

 

Ive seen all over the internet how lots are full of new trucks, due to these outrageous prices. I bought my 04.5 Cummins used in 2012 for that reason. I wanted that specific year for the engine tune, and before all the exhaust junk. Mine had a cat/muffler from the factory, thats it. Its just getting broke in good at 245,000 miles

 

That's true enough about the cost of maintaining an older vehicle vs. the cost of a new one & I agree with that and abide by it. BUT, you've got to be able to put a dollar amount on the multiple inconveniences and time that one encounters by having these older vehicles nickel and dime you to death with major & minor repairs too.

Sure, new vehicle prices are astronomical compared the the actual cost of repairing an older one but on the upside, you can usually depend on a new one where an older one may not start on a cold morning when it's absolutely necessary for you to be somewhere at a certain time.

I drive an 18 year old vehicle that has relatively low mileage for its age (105k miles) and it's usually dependable but one morning while heading for an appointment it wouldn't release out of park, so in a panic, I had to remove the center console and jury rig the shifter mechanism to enable me to drive it.

Another incident with a different vehicle (Ford Ranger w/V6) happened when I spent a couple of days visiting a family member in a cold climate and my Ranger sat dormant for the whole time. When it came time to leave the starter would barely turn over. Turned out it was caused by accumulated oil from drippings from the oil filter each time I changed the oil & the filter was directly above the starter. This never caused a problem before in the much warmer climate that I lived in at the time but the problem was only accidentally discovered after changing the starter solenoid & battery.

New vehicles usually don't give you those kinds of problems that are really a PITA.

 

That's true enough about the cost of maintaining an older vehicle vs. the cost of a new one & I agree with that and abide by it. BUT, you've got to be able to put a dollar amount on the multiple inconveniences and time that one encounters by having these older vehicles nickel and dime you to death with major & minor repairs too.

Sure, new vehicle prices are astronomical compared the the actual cost of repairing an older one but on the upside, you can usually depend on a new one where an older one may not start on a cold morning when it's absolutely necessary for you to be somewhere at a certain time.

I drive an 18 year old vehicle that has relatively low mileage for its age (105k miles) and it's usually dependable but one morning while heading for an appointment it wouldn't release out of park, so in a panic, I had to remove the center console and jury rig the shifter mechanism to enable me to drive it.

Another incident with a different vehicle (Ford Ranger w/V6) happened when I spent a couple of days visiting a family member in a cold climate and my Ranger sat dormant for the whole time. When it came time to leave the starter would barely turn over. Turned out it was caused by accumulated oil from drippings from the oil filter each time I changed the oil & the filter was directly above the starter. This never caused a problem before in the much warmer climate that I lived in at the time but the problem was only accidentally discovered after changing the starter solenoid & battery.

New vehicles usually don't give you those kinds of problems that are really a PITA.

Relatively minor problems in my opinion...maybe your battery just couldn't take the shock from the colder climate...

 

I think most of us are of the opinion that the new trucks are outrageously priced.
I purchased my last new car in 1995. Five years later the transmission went bad, so I sold it and bought a minivan, since I had two toddlers.
All of the vehicles I have bought since 1995 have had anywhere from 20,000 to 110,000 miles on them and I have not been unhappy with how long they have lasted.
My present 2010 suburban started life with me at 110,000 miles. Now at 218,000 miles it is showing some body rot, thanks to southern Wisconsin’s salted roads, but it is still running like a champ.
I will be keeping it until it falls apart.
Andrew

 

I bought a car in March. Honda Passport Elite AWD. Cash. I've always been a Ford buy and had 2 Explorers and an Edge previously but an optioned up new Explorer can bump up to $70k - $75k! Sorry not interested. I have had Honda sedans years ago and all were rock solid. Looked at KIA, Hyundai, and Honda as Asian brands go. KIA and Hyundai would not budge on pricing and there is a waiting period. Also, many dealers now have a "Location Premium" so they can gouge you a little more based on where you live. The Honda dealer here in Frisco, TX. was willing to negotiate and put it in writing. Did the whole deal by email and they honored the number when I went in the next day. Paid about 4% under MSRP. Whole thing took about 1.5hrs and a lot of that was the salesman going over the car. Wrote a check.

 

I personally drive older cars(2003-2004). I bought a 2004 Accord for my wife. I drive a 2003 Frontier and I also have a 2004 Frontier that I am giving to my son. All have been maintained and repaired by me over the years and are in perfect shape (Aside from faded paint). I can't see paying 56-100K for a new car that is mostly made of plastic parts and has so many computers in it that you can't fix it yourself. Plus---as JACKTW mentioned the depreciation is so bad that just driving it off the lot drops the value 20% or more. Just not a sound buy for anyone now especially for retired folks on a fixed income.

 

100% Agree!!!

 

Paying cash for vehicles has not always been the best move in my opinion. In past years you could finance many with zero interest or under 2% interest. When I can finance for free or close to it I don't use my cash I use theirs. Now that rates have gone up that has changed for people that are buying now. Then you take young couple with kids that need a dependable car they are not going to have a choice other than financing. About the cheapest SUV out there that is less than 3 years old is going to cost them 30k.

 

Don't kid yourself. If you are getting a zero or low interest loan, you are generally paying more somewhere else, like more for the vehicle. I don't tell them I'm paying cash until we have agreed on a price, as they get a cut from the finance company too. So, one can most often get a better cash price by approaching the negotiations as if you will be financing until you come to terms on price.

 

I just sold my 2016 F250 for a couple thousand under what I bought it for 6 years ago. I purchased a used 2023 GMC 2500HD Duramax last week and will keep this one for the next 15 to 20 years as long as there are no major malfunctions. The only reason I sold the Ford was that I wanted a diesel.

 

That's why I drive my Nissan Titan 2005 model with 280,000 miles on it! It's way cheaper to fix then to buy brand new!
The 2020 Mustang I paid 23,500 for this base model, get's 35 mpg on trips! If I become a multimillionaire then I might buy a second hand newer truck! 🤣 🤣 🤣 🤣

 

If I become a multimillionaire

If I become a multimillionaire, I'm gonna' pay off the loan on the Pinto.

 

 

We have a 99 F150/4.6 with 223k, a 13 Focus ST with 166k, and an 06 Taurus with 91K. They all get maintenance on a regular basis and they all run great. I suspect that eventually the body will fail off the F150, but my rust issues are not as bad as many. I used to figure a new(er) vehicle payment would be at least $500 a month. Until annual repairs start becoming much more than that, keep driving. If the time comes when they do outlaw internal combustion, I may have to buy something.

 

Back in the day we used to call them a "Pinto Firewagon." Had a girlfriend that had a lime green one. Ugly car, cute girl.

 

I kinda like it.. My Gramps had a 70s Boogie Van with mag wheels and side pipes. It had a big pirate ship painted on both sides. I have only seen pics of it, seems like a cool ride. I wouldnt mind having one now...lol.

 

May last year I bought a 2023 1500 Chevy z-71 for $2000 under the sticker of $65000. With just about every option on it, AND the Duramax 3.0 liter diesel. I had a 2003 6.0 Duramax and wanted the Diesel Again. Mileage is phenomenal with it. 30+ on the Highway. No EV’s in this home. Cost a lot,but it’s a lot of truck.
Regards,

 

New prices are outrageous! I bought a new Custom 2018 Silverado in 2018 for $35K out the door. In 2021 I bought a 1993 Dodge W250 Cummins just to have. Didn't want WI salt on these trucks so bought a 2006 Mazda 3 one owner car from AL for a daily driver. All was good until a woman in a Suburban made an illegal left turn. The Mazda lost.

So, trucks are going in storage with no daily driver and salt coming. I found a new 2024 VW Jetta with a stick! Personally, I only like driving a stick and they are hard to come by today in any make. Decided on the Jetta with a six speed for $25K out the door. I got 51.6 mpg last week on a 200 mile round trip. I have never gotten under 40 mpg despite driving in negative temps here in WI.

Not an ideal car, but decent size and it's a fuel miser. For the price, it's a bargain.

 

I hate car payments and haven't had one in many years. I am driving older vehicles and plan on doing it until I take the final dirt nap. I bought a beautiful 2000 F250 4x4 with the 7.3 diesel with 105k Miles on it and no rust for 15k two years ago. The fuel mileage is terrible, so it does not get many miles put on it. At 105k this thing is barely broke in and will pull any trailer without much effort.

My grocery getter is a 2012 Altima with 180k on it and is still going strong, actually I am getting ready to drive it couple thousand miles on a trip next month.

I also have a 2004 Toyota Highlander with 130K that runs great but doesn't look so great since my wife was sideswiped on the freeway a couple months ago. The insurance co paid us almost full retail for it and we got to keep the vehicle. I paid 6k for it in 2019 and the insurance just paid me $5800. Win. Win and its still drivable with one door mashed in, I may get the door dent popped out and going to keep it for a spare vehicle. My kids always borrow this one when they come in town.

Every time I have some maintenance work done, I remind myself that it's still cheaper than paying a payment. Not to mention they are all cheap to plate and insure. I have resigned myself to the fact that I am probably going to have a breakdown at an inopportune time. But I am retired and have nothing but time and my schedule is always flexible.

 

Picked up a few older rigs, 2500 or less. Been rebuilding them over the last few years. Currently working on a 92 F-250 7.3l 4x4. Putting on a rust free body and fixing all mechanical issues and some preventive. Sand blast frame and repaint from bottom up. Will end up with a rust free great running truck with only 5-6k into it.

Will end up with 4 rust free great running trucks for future use. Maybe have 25-30 k into all 4. Should last me the rest of my life. Plus just scored a perfect rust free like new Lincoln Navigator 4x4 for 10k They are over 100-120k new.

People are stupid paying the prices dealers are asking for new rigs. Plenty of options if you have any skills or brains. You could almost pay someone to rebuild you a junk yard truck. With new crate motor and trans and paint for 50k or less.

 

I am one of those people who take care of cars. My diesel truck looks like new and both it and the Wrangler have been well taken care of and I can't find any rust. I think that I will just keep driving the Wrangler. I have some custom touches on the Wrangler like a front hitch receiver, rifle rack and a shelf to replace the worthless rear seat. Replacing that in a new car drives the prices up even further. Plus new vehicle property taxes around here are high.

 

Plus new vehicle property taxes around here are high.

You in NC? ...

 

I've never bought a new vehicle in my nearly 60 years of owning them! I started out buying used when I was young and broke, and just never found the allure of owning a brand new vehicle as important as the savings I got from buying a 1-3 yr. old vehicle. Let somebody else take the big loss driving it off the lot, and I'll keep my money in the bank, and not make payments.
We bought my wife a "new" car a couple years ago. A 2014 Subaru Legacy AWD sedan that was 8 years old and had 8500 miles on it. Cost us a whopping $11,500 and it still had the window sticker on one rear side window showing the previous owner paid $25,000 for it in 2014!
I got her old car as she wanted to sell it, but I told her I'm driving it until it dies! It had 125,000 when she passed it to me, and I figure it's probably got another 100,000 miles left before it needs to retire. This old 2006 Ford Fusion has had front wheel bearings, and a water pump. Other than that just regular maintenance and one new set of brakes I did at 100,000 miles!
Since we're both retired we might not buy another car in our lives.

 

Not me. I'm still driving my 2013 Toyota Tacoma with 256,000 plus miles on it. It's my daily driver. Most reliable truck IMO. I can't afford those kinds of prices. I am looking for another Tacoma though, but I won't pay those kinds of ridiculous prices. Look for a good used vehicle to replace the Wrangler. Rare, but sometimes you can find a good deal.

 

Two years ago I succumbed to the many overtures from the local Toyota dealer regarding the ridiculous trade value of my 2013 Toyota Highlander. They were also the dealer I bought it from. After much yammering and “I have to run this by my boss” bs, I was told that I was going to be pleasantly amazed by what they would offer in trade. I was passed a folded slip of paper with the trade amount. I was aghast as it was less than the local govt property assessed value. Car has no issues, runs like a top. I proceeded to give the salesman and her boss a primmer in car economics and they seemed stunned. ‘Don’t you really want a new car?” Nope, I only have cars for reliable transportation and my 2013 is extremely reliable transportation. Took their offered trade amount and divided by the delta of 250,000-current mileage for an expense per mile, then did the same for the vehicle they wanted me to buy. The comparison was eye opening and I drove my 2013 home. Still totally reliable today and even cheaper per mile cost comparison. Ps, hated the fricken big screen in the dashboard that blocks your view.