I think most are random and evenly distributed on how they purchase. I know a lot of people who buy new and keep for 10+ years and those who trade in every few. I also know many who only buy used. When the day comes I can have a perpetual $1,000+ monthly payment on a vehicle I’ll do it....but I’m just out of the gate in this game of life and can’t come close and feed myself. I could swing a newer truck but I’d have to go out less and live less....so I just keep mine rolling. I do see the value in always having a new vehicle for sure, when it’s no longer worth your time to do your own maintenance and you don’t want down time you can’t beat new.
Unfortunately, The Game of Life might not get any easier in the future.
For me, it's not about being able to have a Perpetual payment. I had a car payment once in my life and I will never have another.
Some people do things one way because their parents did or they think it's the only way or it is the only way they have ever done anything and I just don't know what the other way feels like.
I have done most all of these things. So I have at least a little bit of personal experience and research to know what works best for me.
I just don't want to spend the money will like that and maintain a 500 -$800 or more car payment when the end result is about the same.
I have always had multiple vehicles.
This is also where some people choose to have one more expensive vehicle than to have two lesser expensive vehicles.
I can have four or five older one sitting around and even with the additional cost of ownership for multiple vehicles, I am way below what I would spend in the year for one new vehicle.
With multiple Vehicles, even if 1/2 is needed repair, I can just use another one until I get around to fixing that one.
This means no rush and I'm not forced to take it to the garage and pay top dollar to have it fixed in one day.
So everyone has their preferences, but if you actually do the numbers the numbers to each person's specific situation don't lie.
Many people are totally willing to pay the extra money to have the Peace of Mind other warranty and the niceties of a newer vehicle.
I prefer to have older vehicles and I get a super big kick out of having something older that is in mint condition was super low miles.
My last purchase was a nineteen-year-old vehicle with 49k on it that is in near mint condition.
My vehicle a few months before that was 15 years old and also in near mint condition with a few more miles on it but still excessively low for a 15 year old vehicle.
I got them both for under $0.10 on the dollar what they sold for new.
I could drive either of these vehicles for the next 10 years without concern.
I could also put that thousand dollars a month away and in a few years, go pay cash for a new car.
Some people see it as suffering not having a brand new car. I get a huge joy out of having something older that is in perfect condition and having people comment all the time on how nice it is and ask me what year it is.
But, I'm also a classic car, Hot Rod, motorhead. I like to have all things and fix them up and make them cool, head-turners, and conversation pieces.
Thanks for getting me drooling! I just put historical tags on my Ol 95 F150 so now I’m exempt from state emissions testing ... and now (all because of you of course) I’m contemplating yanking my 5.8 Windsor out and transplanting the Godzilla in. I keep telling myself that I don’t need another Hot Rod ..... but man I got the itch for another build. Maybe I’ll just look for a Mass Air conversion kit and just build the Windsor. Just a wee little bit...... or maybe just a little bit more.
