How long do you keep your car before replacing it

Signed-In Members Don't See This Ad
ossaguy

ossaguy

Member
Joined
Jan 3, 2010
Messages
1,370
Location
San Diego
I have been debating the question on how long to keep a car before selling it.

I was curious as to which way others go on this.

Do you put lots of miles and years before moving on,or do you sell/trade in while the mileage is low,for better resale?

My little Toyota truck that I bought new in 2003 has been such a good one that I have almost 170k.Looking around for comps,almost everything out there for sale is low mileage.

Any thoughts?


Thanks,
Steve
 
Signed-In Members Don't See This Ad
Because of the miles I put on my car I try to keep as long as possible or once major repair issues start to come up. My last three cars were 4 years old with 250,000 miles on each one. I bought a 1993 Volvo because of the price. I have had it for a year now and put 40,000 miles already. I try to stay away of brand new cars only because once I drive it off the dealer lot the cars value drops $2,500.00 :( .
If I am buying a used car I want to buy one with less than 20,000 miles on it.
 
Statistics show that if you keep each car at least ten years before selling it, and invest the money you would have paid for car payments in your 401K, you can retire 5 years earlier. That said, I have already retired once and now have my own business, so I'm not a good role model. I keep my cars as long as they continue to give me reliable service. My current car is a Toyota 4runner with just under 316,000 miles on it. If you consider what you could get for your 11 year old truck (~$2,500), keeping it another five years will not reduce the price that much. If it's still running okay and reliable, I'd keep it and use the money spent for a new truck for something else like an early retirement.

Jim Smith
 
Last edited:
Good question. We recently replaced my wife's 2001 Acura TL that we bought new. It had 180k on it and the engine was still going great, but everything else was falling apart LOL. She decided to replace it with a used 2012 Ford Fusion that had a little under 20k on it, but it has some terrible transmission issue that makes a loud BANG when it shifts. Only sometimes, and of course never bad enough to throw an error, so the dealer is saying there's nothing wrong. She is WAY upset.

I have a 2005 Toyota Highlander that we also bought new, it has only 89k miles on it but it's having a lot of electrical problems now (power door locks are failing 1 by 1, had to replace the board for the heating/ac, etc..). We will probably replace it in the next year or two with a pickup, though I would LOVE to get a Tesla instead (talk about polar opposites!). We'll see.
 
I usually keep my vehicles at least 12 years. I take good care of them and they run and look great even after those years and all of the miles. One exception is my '75 Toyota Landcruiser that I bought in 1983 and still have it. Can't bring myself to sell it:biggrin:.
 
Keep a new car for 10+ years and then purchase new again. The 10 year mark is my 'barometer' as to whether I got value or not from a new car purchase. No brand loyalty to anyone but in saying that, our Toyota's have been our best value.
 
We have kept every car we've owned for at least 10 years. Our current 2 cars are; 10 years (wife's van) 11 years my car. Both are still running very well and I foresee both staying with us for at least a couple more years.
 
two schools of thought.
Mine - buy new keep 10-12 years or till stuff major feels like its coming up.
bosses - buy with 30-40k miles on it and sell it before stuff major feels like its coming up.

He says teh money saved by buying used is well worth it. i say that knowing im the one who drives it and knowing it hasnt been beaten on(unless i did it) or neglected is worth extra money
 
Long Time !

We had a 1995 VW Passat TDI. Traded it in for a 2012 VW Jetta Wagon, TDI. The Passat had almost 500,000 miles on it (499,950). Dealer took pictures for VW, could not believe it. It was still getting 40+ mpg. Someone got a good deal. I now get 44mpg
 
I typically keep a car for 6 to 8 years. I try & buy them about 1 year old with less than 12000 miles. M current vehicle is a Toyota FJ. I bought it new (I know I broke my rule), and have had it about 7 1/2 years. In this case, I think I'll keep it awhile longer. It has just over 67000 miles, and I still really like it. Plus, Toyota is discontinuing this model, so maybe I'll have a collector's item. The milage is nothing to write home about. It's a good thing I don't drive a lot of miles.

My wife's car is a 2007 accura that we bought when it was a year old. It now has 110000 miles, and we just changed out the timing belt last year along with the 100000 mile stuff. It's such a good car, we might keep it a few more years.
 
I have been buying cars for about 53 years....My first car (57 chevy) I kept for 7 months, my second (62 chevy) I kept for 7 years. Average is about 5 years but that is deceptive....With 6 children, we owned as many as 4 cars and a pickup truck at the same time. Here were our rules of thumb.

1. Don't make car payments this held from 1962 until 1976 when we financed our first car then changed to don't finance more than one car at any one time - we still follow that.

2. Keep any car until it is paid for...If you finance 4 years keep it at least 4 years, if you finance 6 years keep it at least 6 years.

3. If you trade a car in (don't unless it is paid for) get two and only two numbers from the dealer. First, how much he will give you for your car (he will probably tell you that depends on what you buy - it doesn't, your car is worth what it's worth no matter what you buy) and then how much he wants for his car with no trade in and make sure he includes everything he charges you for like "administration fees" "dealer prep" etc. When you have those two numbers you can know what you are actually going to pay.

4. Leases can work out well in some cases....but make sure you understand exactly what the terms are.
 
we keep vehicles until they are no more. My truck is a 1995 dodge ram with a cummins diesel with a mere 245,000 miles. The car is a 2006 passat 2.0t with 83K on it and the play toy for the wife and I is a new FJ Cruiser which we plan on keeping forever. I have had other vehicles but life circumstances forced the sale before I really wanted to.
 
AAA a few years ago said the cheapest transportation is to drive a car until it falls apart! In most cases the cost of repairs are less than payments on a new one. You of course have to be willing to put up with repair down time. I own six (don't even ask) and the lowest miles on any of them is about 105,000 all the way to 214,000+ on an 89 Ford Ranger (which is as ugly as sin but still runs like a top!). I have only purchased one new vehicle in my 69 years. Bought it with 3 miles on the odometer and the A/C blew at 10 miles! Always bought used since.
 
I follow the guideline that is just a tool to get me from point A to point B.

It also is a serious investment of cash in something that's going the wrong way in value (down!) at a phenomenal rate. Then I consider that this vehicle is going to be worth, on average, about half of its price in 4-5 years. So if I buy a $40,000 car today and keep it 5 years it's only worth $20,000 and I have to ask myself if I got $20,000 worth of travel usage out of it during that time? Usually the answer is no, because I could have bought a used vehicle for $10,000 which would have dropped to $5000 in the same amount of time and I would have only used up $5000 in depreciation instead of $20,000!

Now lets say I invested that 15,000 in mutual funds that "averaged" 10% per year, it would grown to over $24,000 (over $9,000 gain) in five years time. Take out the depreciation for the used car and I'm now $4000 ahead over where I would have been if I had bought the new car!

I could sell the car for $5000 and add $5000 from the $9K I gained, and get another $10,000 car at the end of the years and do it all over again and be more than $8,0000 ahead of the game at the end of that term!.

Hmm, I think I'm sticking with the used vehicle...
 
I am still driving my 1999 Dodge deisel P/U and it is still under warranty.
It has 150,000 km power train warranty, I have 130,000 on it. Wink, Wink, Nudge, Nudge.

Lin.
 
I will try to buy slightly used from here out, my goal is to never have an auto loan again as well.

The one vehicle I had the most trouble with was my only new purchase, had to get a new engine and new transmission within 2 years after warranty ran out.
 
Minimum of 10, maximum of 23 years. Unless it is a "lemon". I've had a few of those, and they didn't last long. If I like it, I keep it until it begins to develops serious mechanical problems. l currently have a 14 year old Toyota Tacoma with almost 180,000 miles on it, and a five year old Ford Focus with 80,000 miles on it. Not planning on trading either anytime soon. (I get 32mpg around town and 38-40 mpg on the highway with the Focus...I'll keep it til it drops!)
 
Last edited:
lorbay said:
I am still driving my 1999 Dodge deisel P/U and it is still under warranty.
It has 150,000 km power train warranty, I have 130,000 on it. Wink, Wink, Nudge, Nudge.

Lin.
Click to expand...

I sold my 1990 Dodge one ton Cummins diesel last year. No longer had trailers to pull with it. Couldn't justify keeping it any more. It was 23 years old and had 180,000 miles on it.
 
Thanks for all the feedback!

With it having so many miles on it compared to what's on craigslist,I wouldn't even know how to come up with an asking price.For some reason,there are hardly and '03 Tacoma Xtra cabs listed ever.Most are Prerunners,or the double-cab models.

If I had my druthers,I'd keep it.My Wife wants a small SUV,so I am thinking about a new Honda CRV.I just hate to give up the open pickup bed.They come in so handy at times.It would be nice to have a back-up vehicle,but I don't need any extra chores of upkeep.

The other part is I've never owned a vehicle with a computer screen in it.My old truck is about the last model before they switched over.At least on this,I can look under the hood and point to pretty much all of the sensors and emission stuff to be able to tell what it is,to fix it myself.

Oh well,lots of decisions...but thanks for all the advice.I appreciate it!

Steve
 
We usually keep ours a long time - try to get about 200,000 miles if possible out of them. Prefer to buy new if the opportunity arises. We had a Saturn for 18 years. Currently a 2003 Chevy minivan with about 107,000. My daily ride is a 99 Blazer with just under 42,000 miles (I got it from my Mom about 4 years ago when she stopped driving).
 
ossaguy said:
Thanks for all the feedback!

With it having so many miles on it compared to what's on craigslist,I wouldn't even know how to come up with an asking price.For some reason,there are hardly and '03 Tacoma Xtra cabs listed ever.Most are Prerunners,or the double-cab models.

If I had my druthers,I'd keep it.My Wife wants a small SUV,so I am thinking about a new Honda CRV.I just hate to give up the open pickup bed.They come in so handy at times.It would be nice to have a back-up vehicle,but I don't need any extra chores of upkeep.

The other part is I've never owned a vehicle with a computer screen in it.My old truck is about the last model before they switched over.At least on this,I can look under the hood and point to pretty much all of the sensors and emission stuff to be able to tell what it is,to fix it myself.

Oh well,lots of decisions...but thanks for all the advice.I appreciate it!

Steve
Click to expand...

Last year, I paid $8000 for a 2000 Tacoma TRD extended cab, with 160,000 miles on it. (Admittedly, it is absolutely cherry, and my mechanic certified it in A1 condition.) It has given me no trouble. I've had it across the country twice now.

If yours is not causing you any trouble, I would hang on to it. My brother owned a glass shop and had a fleet of Tacomas that had glass racks on them He routinely put almost 300,000 miles on them before needing major work.
 
ossaguy said:
I have been debating the question on how long to keep a car before selling it.

I was curious as to which way others go on this.

Do you put lots of miles and years before moving on,or do you sell/trade in while the mileage is low,for better resale?

My little Toyota truck that I bought new in 2003 has been such a good one that I have almost 170k.Looking around for comps,almost everything out there for sale is low mileage.

Any thoughts?


Thanks,
Steve
Click to expand...
I have had my F250 Super Duty for over 12 years and 350,000 hwy miles and have NO plans on selling it.
 
I got my 1996 Caravan in 2006 with 104,000 miles on it (and only spent $3000 on it). So about two weeks ago, just as I pulled in the parking lot at work, it turned over an eye-catching number.


Replaced the tranny with a used one once, and otherwise just kept it serviced. I hope to get another year or two out of her before upgrading. I've already got the money's worth out of this one.
 
We keep our cars as long as they run reliably.
Usually, that's more than 250,000 per vehicle or about 12 years.
My 2001 Sierra truck only has about 140,000 'cause I got it around '06 with only 20,000 miles.
AFAIC, a vehicle is not an investment--it's an expense.
The less often I have to replace one, the better.
YMMV.
 
Dee has a 2011 Toyota Camery with less than 13,000 miles we bought new and plan to keep it until we need to start replacing expensive parts, hoping not for another 10 years. We also have a 2005 Kia Sodona Van with a little over 80,000 miles that we only used for shows until I stopped doing them. Of course my other two care are 49 years old (1965 Chevelle) and 78 years old (1936 Chevy) I drive the '65 almost daily to places like the Mall and Grocery store just for the fun of it.
 
ossaguy said:
Thanks for all the feedback!

With it having so many miles on it compared to what's on craigslist,I wouldn't even know how to come up with an asking price.For some reason,there are hardly and '03 Tacoma Xtra cabs listed ever.Most are Prerunners,or the double-cab models.

If I had my druthers,I'd keep it.My Wife wants a small SUV,so I am thinking about a new Honda CRV.I just hate to give up the open pickup bed.They come in so handy at times.It would be nice to have a back-up vehicle,but I don't need any extra chores of upkeep.

The other part is I've never owned a vehicle with a computer screen in it.My old truck is about the last model before they switched over.At least on this,I can look under the hood and point to pretty much all of the sensors and emission stuff to be able to tell what it is,to fix it myself.

Oh well,lots of decisions...but thanks for all the advice.I appreciate it!

Steve
Click to expand...
Just a short word to the wise Steve. After two 1 - 1.5 year "lessons" since getting my first one in 1969 I reached a decision. No matter what I will never ever again be without a pickup truck. I did go to small trucks in 1985 but a small pickup is a thousand times better than no pickup.
 
Steve[/quote] a small pickup is a thousand times better than no pickup.[/quote]

I agree. I have a small 8x10 trailer, and thought about going with an SUV instead of a pickup last year, and using the trailer for hauling. Glad I didn't! It is a hassle to have to hitch the trailer every time you want to carry something that won't fit in the trunk!
 
I'm cheap and hate to make car payments... I usually run them until the wheels fall off.... the wife and I have a 1996 Toyota Avalon, 285,000 miles and still running like a top.... does need a tune up and a front end alignment now though.
 
sbwertz said:
Steve
Click to expand...
a small pickup is a thousand times better than no pickup.[/quote]

I agree. I have a small 8x10 trailer, and thought about going with an SUV instead of a pickup last year, and using the trailer for hauling. Glad I didn't! It is a hassle to have to hitch the trailer every time you want to carry something that won't fit in the trunk![/QUOTE]

You are both right but I didn't have the money to hold my truck longer than I did, it needed a couple grand of work and there was not much cost to put a hitch on the van. I will say that while a trailer may not be the best option at least it gives you the chance to do your own thing without haveing to ask for help or borrow your buddies truck.

My retirement vehicle will be a truck of some sort.

Bruce
 
Still driving my '86 Fiero..Bought new in 1985. A few years back my wife decided I should have a truck to drive the 25 miles back and forth to work. Especially in the winter. So I got a 1991 Toyoto SE Kingcab pickup...Loved it...In 2010 picked up a 2004 Dogde Dakota SE 4x4...Slapped myself for so many years driving the Fiero in blizards the first time I used the 4 wheel drive.
 
I keep my car until i hit a deer, then use the insurance money to replace the car. Usually works out to a $3500 car every 6 months. If i wasnt so popular with the wild life i still would just buy used cars in the $3-4000 price range, foreign cars like subarus, toyotas and hondas and drive them until repairs cost more than the value of the car, and that often never happens. Only pay cash, never credit. Its just a car, its not an investment, it wears out or rust sends it back into the earth. Both foreign and donestic vehicles rust to death up here in this part of the country, but the foreign cars do use higher quality parts especially the ceremic coated fuel and brake lines which dont rust. I fix the car myself too, and i have no mechanical training of any kind. I only have the will to do it and u tube is my friend.
 
Still rolling in our 2002 F-250 with 7.3l. 331,000 miles and still runs like a top with no leaks.

I do all of the maintenance on it and occasional repairs are cheaper than monthly payments.
 
Gofer said:
sbwertz said:
Steve
Click to expand...
a small pickup is a thousand times better than no pickup.
Click to expand...

I agree. I have a small 8x10 trailer, and thought about going with an SUV instead of a pickup last year, and using the trailer for hauling. Glad I didn't! It is a hassle to have to hitch the trailer every time you want to carry something that won't fit in the trunk![/quote]

You are both right but I didn't have the money to hold my truck longer than I did, it needed a couple grand of work and there was not much cost to put a hitch on the van. I will say that while a trailer may not be the best option at least it gives you the chance to do your own thing without haveing to ask for help or borrow your buddies truck.

My retirement vehicle will be a truck of some sort.

Bruce[/quote] Depending on where you live. In the development I live in, unless the trailer will fit in the garage (most won't, the garages are small)
we can't park one on our lot and have to rent space somewhere to keep it. Not very handy. But if you live where having a trailer on your property is not a problem a trailer can work (works best if you pull it with a pickup truck though.
 
Signed-In Members Don't See This Ad
This has been a very interesting thread for me to read, and I have been a little reluctant to respond. While I agree with the advice to keep a car for a long period of time, I didn't do very well in following that advice in the past 50 years. It is well known that you keep a "depreciating asset" for a long time or move it quickly. My choice was to drive and sell within a few months. (Have you ever had your wife call you, when leaving the mall, and ask, "what kind of car am I driving?") Since 1964 I have owned/driven nearly 120 vehicles, 85% were new. The longest time I held any unit, a 63 Corvette, was 12 years and it was driven only 3,000 miles.
Since retiring, I have slowed down a bit, but still get a charge from getting into something different. I change now every 50/60 thousand miles.
Most of my friends think I am a little strange in my addiction to cars, and they may be correct; but in retrospect, I would do it again. You can buy, and sell cars without losing money. I've done it.
Just another perspective.

Bill Sampson, Richmond
 
You must log in or register to reply here.
Back
Top Bottom