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200,000 mile vehicles- a catch 22?

Discussion in 'Off Topic Threads' started by kolared person, Jun 9, 2009.

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  1. kolared person

    kolared person TS Member

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    If people decide to keep their vehicles running for 200,000 miles, they will have little value at sale or trade in time. Do we start saving ahead of time(like we did in the 60"s and 70"s )or do we make $600.00 per month payments? Comments.
     
  2. Lead Man

    Lead Man TS Member

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    I started this long ago, when a vehicle is paid for keep making payments of the same amount to a savings account. When I need repairs or a new vehicle I buy from what is in the fund and never make payments. The only exception is the one I'm driving now I got 2.5% interest and put the cash into some fairly safe investments and have never lost.
     
  3. ljutic73

    ljutic73 Well-Known Member

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    My '98 GMC SLE has 170,000 miles on it...I take very good care of it and I don't care what it's worth....I plan on driving it for another 200,000+ miles. $40K+ for a new truck just makes no sense to me.
     
  4. Pocatello

    Pocatello Active Member

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    Both. My wife and I have three vehicles - a '94 Suburban with 240,000 miles on it, a '99 Chrysler 300M with about 140,000 on it, and a '06 Toyota Tacoma with 51,000 on it. When I bought the Tacoma I had a pretty good down payment, and paid it off in less than three years at $300 biweekly, if I remember correctly. To me it has never made sense to buy a new car every year or two and always be making payments. take care of them and they will take care of you.
     
  5. BT-100dc

    BT-100dc Active Member

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    Did you hear they (Congress) passed the Clunker Bill? There's hope for getting a Government voucher out of the ole' clunker. Gevernment Motors is starting to do business with our tax money. Enjoy the ride, Komrads. BT-100dc
     
  6. Bruce Specht

    Bruce Specht Well-Known Member

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    I never own a vehicle for les than ten years, once paid off I continue to make payment to my self AKA auto account. Interesting I havne't had a car payment for more that a year. Of course now with 0% financing might as well yse thier money rather than mine. NOt near enough saving going on in our country
     
  7. Mismost

    Mismost TS Member

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    My truck has 224,000 miles, my car has 287,000...both still look and run good. For sale or trade in they are pretty much worthless, but beauty is in the eye of the beholder and to me these are beautiful machines. Paid for, cared for, and used easy. If they are not going give me any trade in value (and I would pay squat for any car with that high mileage either)I'll just go until they have a major failure.

    At this point, I just want to see how long I can go!

    Use good oil and use it often.
     
  8. Trappy12

    Trappy12 Active Member

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    A car's value decreases so fast, you just can't win. A car selling with 100,000 miles is going to get you next to nothing to begin with. A car selling for 200,000 just might get you nothing as well. Either way, you still lose a lot of money from the initial purchase. So just use it until you can't use it anymore.
    -Trappy
     
  9. highflyer

    highflyer TS Member

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    I try to buy cars that have already lost a lot of value with around 50,000 miles on them. I figure any car I buy will go over 200,000. Most of that time there is no payment and no full coverage insurance. I would rather spend my money on hunting and shooting than cars. I also prefer cars that get good gas mileage. I can never understand how someone with an average American household income can afford a house payment and two new car payments and full coverage insurance on the two new cars. The cars are usually large and get poor gas mileage too. They must not have any money left over for anything else.
     
  10. Dahaub

    Dahaub Active Member

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    I've always been one to wear out a pickup but I've traded in the cars. It's the same game if you don't spend the 25 to 3500 per year on a trade you will have to cough it up all at one time when you buy new again. I've found the only way to get away from it is to completely wear out a truck and then buy something someone else has spent a labor of love restoring and wants to sell cheap. Not often do you come across a buy like that. About twenty five years ago I bought a 56 Chevy pick-up. It had been in storage for 4 years. I gave the guy 400 for it and put a battery in it and drove it home. Spent 300 on the brake parts had a guy short block it for 1200 and he gave me his labor. We worked together and were good friends. I still miss him he passed about 10 years ago. At that point I ran out of money and had to move the truck from storage. Another friend had a "death row" storage spot in a field so I put it there. Put antifreeze in it and forgot about it for three years. My buddy called me and had an acquaintence want to buy the truck. I told them what time to meet me and we would discuss it. I got there early checked the oil and fluids, jumped the truck and had it ideling when the other guy showed up. We talked about the truck and sat there and basically bs'd about it for 20 minutes and he says he wants to start it. I told him he didn't want to do that and he says why not and starts to turn the key and I said he shouldn't do that and told him it was running and I picked up the hood and he could see the belts moving and he turned to his son and said "Give him the money" and the kid wanted to try to bargain with me about the price and his dad says "I said give him the money. All of it, you are getting a 30 year old druck with a new motor and brakes and we are standing next to it for half an hour and didn't know it was running." I wish I hadn't needed the money at the time I'd still like to have that truck. Todays motors have better hardened valves and I think the bearings are better or they seem to last longer anyway. With everything there is always sentimental value for articles that have given us memories. I have one pickup now that has over 185000 on it and another with about 88000. I think I'll keep them for awile longer. Dan
     
  11. geneleroy

    geneleroy TS Member

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    My '99 Jeep Grand Cherokee Laredo has 186,000 miles. I purchased it new and it has always been dealer serviced(my son). I expect keep it as long as he can keep it running with minimal maintenance. My 1978 Ford pick-up(purchased in 1981)has 160,000 miles. My 1983 Chrysler 5th Avenue has just over 50,000 miles. It's from my late brothers estate, it had 39,000 when I got it 5 years ago. The taxes and insurance are minimal compared to new new cars. I expect to be driving one of these 3 until I die. It will be a rare occasion if I buy another car, and if I should it will not be a new one! I still can not bring myself to purchase a vehicle made in or the money returning to Japan. I remember December 7, 1941 and two of my brothers going off to war. Thank GOD they both returned alive and intact!
     
  12. dverna

    dverna Active Member

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    1994 Grand Cherokee with 235,000 traded on a Tahoe in 2008.

    1999 Mercedes with 153,000 still runs like new.

    Buy a vehicle you really like and run it into the ground. Pay cash with the money you have saved over the years.

    Any quality car will go over 200,000 miles with regular maintenance.

    Don Verna

    PS I am not rich. When first married (30 years ago) I had a beat up Datsun 1200. We did not buy a car unless we had saved for it. Old ways taught my Dad.
     
  13. 1oz

    1oz Member

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    VA
    My new cars are someones used cars . I just hate buying a vechile . I like to purchase from someone i know . My daily driver 21 years old 216,000 miles . Mrs is 98 volvo 210,000 . And 2002 Converison Van 57,000 more work on newest by far just rebuilt transmission , intake gasket leak . Really dont care what people see me in as long as it gets to point a to b . Now if my job required me to have something nice that would be a different story. Life is good . Cars to me are a tool thats it . Only car i ever regret selling was my mid 60's vette .Guess if i can't pay cash i aint buyin .
     
  14. larryjk

    larryjk Member

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    Buick has dropped the LaSabre. It is the best economy car GM had. We have had three and they all get right at 30 mpg. This is highway driving economy! The 2000 edition is being driven by my son as a work car 200 miles a day to work and back home. Buys gas and tires, has the car serviced at regular intervals. It is very dependable.
     
  15. Mr. Professional

    Mr. Professional TS Member

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    I read an article about a guy who had a 94 saturn with 350K on it.

    a saturn with over 200K? never dreamed of it.

    just watch your dipstick and how far your foot goes down on the gas.
     
  16. Fast Oil

    Fast Oil TS Member

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    No catch 22 at all. A car is not an investment, it's a mode of transportation.

    Wait till you see the entrepreneur that will supply you with a "clunker" so you can get the $4500 government subsidy. What would you pay?
     
  17. Darryl101

    Darryl101 TS Member

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    I agree that cash is king when it comes to buying a new rig. This winter I almost slipped up though. Wifey was wanting a nicer car....she had been driving a Olds Aurora (it croaked) which spoiled her......so I thought I would get her a "nice" car and spend maybe 10-12K. The bank torqued me off by not letting me have the money the way I wanted it so it was back to cash. Bought a 2000 Chrysler Concorde with 83K miles for $4300.....cash. She got her "nice" car and the bank didn't get a thing. A win-win.

    We have always driven "grocery getters" and came up with the 10 cent plan. If I buy a car for $1000 I will need to get at least 10K miles out of it. If it makes it that far it owes me nothing. I have only had to give one away after it died and the rest had a value of nearly half of what we had paid when we were done with it.

    Darryl
     
  18. halfmile

    halfmile Well-Known Member

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    geneleroy:

    Hang on to that 5th Avenue. That was one of the best I ever had, most comfy seats, best ride, the whole 9 yards.

    You will get a timing chain into it sometime after 150K, other than that maybe a set of wires depending on your local climate and if the car is garaged.

    I had 175K on mine and had to give it up when we moved, no room for extra cars.

    If I found a mint one for low buck It would come home with me.

    HM
     
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