1000000 MILES ON A CHEVY!

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I think there is also the fact that 'Your' old clunker is a known quantity, buying someone else's is not.
In the past I too have spent money on trucks that would logically exceed their Book price, but I have had confidence in the other systems on the truck, PLUS I have to factor in the time and effort and risk of finding another truck that would be as good or better than mine when the repair is done.
Sure, in the event of an accident you stand to loose, but how often do you stand to win in such an event! Beside you could always buy the clunker for scrap value and salvage the new, expensive parts.
 
Originally Posted By: Johnny
Another way to look at is to look at all the money he is going to save. I have confirmed that Shell is going to give him free oil changes for the life of his next truck and GM is seriously considering giving him a new truck. That's got to be worth something.


Either offer alone, and especially if both pan out, would radically alter the economic calculations involved...
 
Originally Posted By: Spitty
I think there is also the fact that 'Your' old clunker is a known quantity, buying someone else's is not.
In the past I too have spent money on trucks that would logically exceed their Book price, but I have had confidence in the other systems on the truck, PLUS I have to factor in the time and effort and risk of finding another truck that would be as good or better than mine when the repair is done.
Of course, it's legitimate to factor in your knowledge about your vehicle. I'm just saying that the further the repair cost exceeds the actual cash value, the greater the risk you're taking opting to repair instead of replace.


Originally Posted By: Spitty
Sure, in the event of an accident you stand to loose, but how often do you stand to win in such an event!
That's my point -- you pretty much always LOSE after such an event. The real question is how badly. If you've just recently made an expensive repair, you lose really badly.

Originally Posted By: Spitty
Beside you could always buy the clunker for scrap value and salvage the new, expensive parts.
True enough; you can always yank off the expensive parts, assuming they are still serviceable. Then you have to go through the drill of selling them to recover the value, etc. You'll get some back, but almost certainly at a price.

Hey, my hat's off to this guy; 1M miles is a tremendous achievement, irrespective of make. I'm glad it worked for him.
 
Originally Posted By: Spitty

Sure, in the event of an accident you stand to loose, but how often do you stand to win in such an event!


If you have a ragged out POS with major problems, the insurance company will, if you total it, still give you the same amount for it as they would for a car in better condition.

Conclusion: If you're a terrible driver that always gets into accidents, don't bother to maintain your cars...and make sure that you get into an accident that totals your car before it fails completely. (After all you can't wreck a car that won't run, can you?)
 
regarding this million mile truck.......I'm sure that this pennzoil 10w30 that he used wasn't synthetic......maybe as long as you do regular maintenance synthetic oils aren't necessary?? when i first got into mechanics i was an apprentise at a local VW dealer. weren't many synthetics on the market yet, and the ones that were around were very pricey. we used to get old vw's in that had very high mileage, especially some of the older rabbit diesels. no synthetics run in those vehicles. yet they racked up the miles...........granted, todays engines put out alot more power and thus run hotter. but, maybe you don't need synthetics?? just food for thought............
 
Originally Posted By: jduramax
... but, maybe you don't need synthetics?? ...


Heretic!!! Be careful lest you find yourself being tossed into a vat of boiling oil. Synthetic oil!
wink.gif


Seriously though, this is one of the fundamental points I've learned since I joined here almost four years ago. Until I came here, all I had to go on was that cheezy "Motor Oil Bible". Now I've seen the UOAs and studied much of the tech info that's available here. I still think synthetics are "superior" but only in a defined envelope of performance. They can go longer than dino, and they can endure true extra-hot environments that dino can't, but most users never encounter real long OCIs or have really hot engines (turbos, 'vettes, and special cases excepted). Modern dinos are a far better product than I would ever have believed four years ago. Million mile Chevy P/Us run on yellow-bottle Pennz would seem to make the point nicely.
cheers3.gif
 
still no one seems to realize since he keeps that truck in good shape it is NEVER worth nothing. It is always worth fixing. And this vehecle is cheap to fix. If ti was an 80's foreign car that needed parts it wouldn't be worth fixing because the cost would be way too high in comparison. The fact of the matter is that it's a work truck and not just transportation.
 
Originally Posted By: FXjohn
still no one seems to realize since he keeps that truck in good shape it is NEVER worth nothing. It is always worth fixing. And this vehecle is cheap to fix. If ti was an 80's foreign car that needed parts it wouldn't be worth fixing because the cost would be way too high in comparison. The fact of the matter is that it's a work truck and not just transportation.


There's nothing at all magic about a "work truck". It's an asset -- no more, and no less. Pens, computers, warehouses, soda machines, furniture, and yes, "work trucks". I'm afraid you've been watching too many "real men drive trucks" TV commercials. If you're emotionally attached to an asset, that's fine, but admit what it is you're doing. I run a business myself, and I'd never spend much more than an asset was worth to return an asset to service (assuming I could replace it with a serviceable asset for less than the repair).

Now, it's certainly true that in some respects, it's hard to place a value on something that can provide the owner a service, but that on the market is worth virtually nothing, at least in money terms. So as long as the "million mile truck" remains functional, sure it has value. But as soon as it needs a major repair (note, I said MAJOR), then it's a harder question. Where you draw the line is, of course, up to the individual owner.
 
you're wrong I don't have an emotional attachment.
Provide for me an example in which a truck with high miles but excellant condition in which a major mechanical reapir would make you flush away the truck.
 
I already have provided several such examples in this thread. Your terminology reveals a strong emotional component. First, "high miles but excellent condition" is a distractor. You've got to look at at actual cash value at the time repair is needed. Sure, you can factor in overall condition if the repair/scrap numbers are close, but if they're not, and the repair substantially exceeds the value, then the logical thing would be to replace. Note, I'm not saying "buy new." If you can find a similar functioning truck for less than the repair cost, that would be the logical choice. Second, you don't "flush away" an asset, you make a cold calculated decision about whether to repair it or scrap it.

Counter-challenge: can you provide a logical explanation for how a vehicle is any different than any other material asset?
 
I think we all do this, otherwise we would all have our First cars! unless our needs have changed,there comes a time when we have to 'call it quits'
The argument might go like this; Gee, the old truck/car needs a $2000 transmission which is all the vehicle is worth at that age, still it's never let me down, runs like a dream, the paint is tatty but I know it's not rusty. I could spend time going through the local papers and hope to find something better, but at that price range it's a [censored] shoot what I end up with (no warranty)
Or, That's the last straw, that old clunker just drinks gas lately, I know it needs shocks and a brake job, I'm sure that $2k will get me something better!
 
Originally Posted By: ekpolk
I already have provided several such examples in this thread.


The only example you set forth was a collision and that could total any car.
Try again
 
Originally Posted By: FXjohn
Originally Posted By: ekpolk
I already have provided several such examples in this thread.


The only example you set forth was a collision and that could total any car.
Try again


You try again. This time READ the WHOLE thread. The point I have made in this thread, repeatedly, is that when the cost to repair substantially exceeds what the vehicle is worth, then you've got a problem. ANY expensive component, engine, transmission, steering rack, etc., could potentially put you in a position in which it makes more FINANCIAL sense to buy a working alternative vehicle, instead of fixing. In the pretty near future, as cars with more complex electronics begin to get some years on them, we may see more "exotic" costly problems. But hey, if YOU want to spend several grand to take a non-running vehicle that's worth a few hundred dollars and make it run, that's your choice. Personally, I'd get another running vehicle, use it up, and move to another one.

And finally, watch the attitude. Review our rules if need be. This isn't some teen-ricer board where anything goes. Argue your point -- keep it on an adult level...
 
Originally Posted By: ekpolk
FXjohn said:
ekpolk said:
I already have provided The point I have made in this thread, repeatedly, is that when the cost to repair substantially exceeds what the vehicle is worth, then you've got a problem. ANY expensive component, engine, transmission, steering rack, etc.,


Why are you being so sensitive?
If a person keeps on on their maintenance they don't run into problems with their vehicles being worth "nothing"

Why do you think trucking fleets maintian their trucks so carefully and run them for millions of miles and for decades?

because it makes good sense. The vehicle in point is a work truck so that's where fixing things makes sense, not just putting maintenance off and needing 20 things done to rust bucket. If it was an old foreign car that was rusty and it needed a 2 thousand dollar computer or transmission that's a whole different story from a work truck that delivers goods.
Anyone who keeps a pickup in good shape can be in the same boat and always have a truck worth fixing since powertrains are easy and cheap to replace.

I though that what this forum was about.
 
John:

Not sensitive at all, really. I'm talking about MARKET value, ACV as the insurance companies like to call it.

Actually, many fleet operators jettison rolling stock when the tax writeoffs are done, and nevermind when the vehicles actually start costing money to keep on the road.
Quote:
If it was an old foreign car that was rusty and it needed a 2 thousand dollar computer or transmission that's a whole different story from a work truck that delivers goods.
When the engine or trans is no longer working, the fabled W/T is no longer "delivering the goods".

And it's no more impressive than an "old work truck" delivers the goods than it is when my car gets me to work on a regular basis. Either the vehicle accomplishes the mission or it does not. And either a repair costs more or less than the value of a car. If it costs more, then you need to evaluate carefully whether it's a good idea to make the repair.

If you've kept a vehicle in good shape, then certainly it will be worth somewhat more than the generally accepted ACV, at least to the owner who has put the work into it. And that's fine. But in the end, there's no escaping economic reality -- sooner or later, every vehicle will reach a point where it's not worth fixing.
 
To back up what Elkpolk has been saying. My father’s 85 F-150 was in good shape, but the headgasket blew, and needed a new engine. Engine was replaced for $1500, and then a few months later a lady pulled out into him and totaled the car. Insurance didn’t give enough to even pay for the engine, much less the truck.

Second. I bought a friends car with 220K KMs on it that was in good running condition, and had served several other people well. I get online and find a repair manual so that I can work on the car. Bam, there goes 1st gear less than 2 weeks later. $3000 to fix a car I paid $325 for. It got junked and I bought something else. $3000 is more than what I can buy a car for.
 
that was still a brand new engine he could have resold.
He would have only been out the labor and some dpreciation.
The getting wrecked part is different than a simple mechanical failure.
 
Last edited:
Originally Posted By: FXjohn
that was still a brand new engine he could have resold.
He would have only been out the labor and some dpreciation.
The getting wrecked part is different than a simple mechanical failure.


Sometimes you can salvage individual parts, sometimes you can't (depends upon what happened to them, cost to remove, etc.) -- that's still another risk factor.

Getting wrecked is obviously a different event than a mech failure, but in the economic analysis, it is no different. The vehicle either works or it doesn't, and the ACV is what it is.
 
Originally Posted By: Camu Mahubah
This is an oil website, these examples of longetivity should be applauded and studied so as to discover what is required to keep an outfit on the road far longer than most! Everyone has their own opinion as to whether it is smart moneywise or not to keep a truck on the road this long. Just go eeeewwww and aaaaahhhhhh when you read of them! Think of Cuba! Carry on!


Speaking of which, I was thinking the other day that cash starved police departments use old vehicles while ones that are not quite so cash starved buy new ones and people would be inclined to say doing this saves money over driving the older ones due to the cost of repairs. Something cannot be inexpensive and expensive at the same time. One approach is inexpensive whereas the other one wastes money. Any statement to the contrary would be illogical.

Originally Posted By: ekpolk
Originally Posted By: Camu Mahubah
This is an oil website, these examples of longetivity should be applauded and studied so as to discover what is required to keep an outfit on the road far longer than most! Everyone has their own opinion as to whether it is smart moneywise or not to keep a truck on the road this long. Just go eeeewwww and aaaaahhhhhh when you read of them! Think of Cuba! Carry on!


Great comment re Cuba. For those of you who don't know, they've got many, many 1950s vintage cars and trucks still in regular use because of their inability to obtain new vehicles after the coming of Castro. When you see photos of some of the "creative street engineering" the owners have done to keep their cars on the road, it's sometimes amazing. This is a unique and different situation than we ever see here. These vehicles retain "practical value," since for many ordinary Cubans, there is simply no viable replacement option at all. By contrast, Americans can usually find plenty of low-cost, operable replacement choices if and when the old horse dies.


That sounds like the air force. Congress will not give them funding in any sufficient quantity for new fighters and bombers, so they keep maintaining and repairing their old ones, for decades and this approach is obviously cost effective because if the repairs were so expensive that buying new jets was economical they would have done it a long time ago. The same goes for the army's tanks and humvees.

Originally Posted By: ekpolk
Originally Posted By: FXjohn
If a truck wasn't rusted out, what would be wrong with replacing the engine and transmission, even if it was expensive?


As XS suggested, nothing at all, assuming the owner does it for the right reasons, and with understanding of the risks involved with this choice. Once you get to dealing with vehicles of this age, there is no "risk free" option (except perhaps the relatively very expensive choice of replacing with a new vehicle with a warranty).

I'm just saying that owners who decide to go this way may very well find the money they spent to make the vehicle run, disappearing if something goes wrong shortly after the repairs.
cheers3.gif



If something goes wrong shortly after the repairs, the shop is responsible, as they warrant their work for a certain period of time. I know that my local Toyota dealership warrants their work from defects in workmanship for a period of one year following the repair.

Originally Posted By: ekpolk
Originally Posted By: FXjohn
what risks would there be after installing a new engine and trans? Brakes?


The two big ones are: 1) failure of another worn out system shortly after spending big bucks to restore the vehicle from the first failure, and 2) collision damage. In either case, the money just spent to make the vehicle roadworthy will effectively vanish, never to be recovered. Particularly in the latter instance, the owner will get absolutely nothing for the money spent to restore. The insurance company (if there is one) will shrug its collective shoulder and say that ACV is ACV, and they don't care at all that you just spent ACVx5 or ACVx10 to put the vehicle back on the road.

EDIT: how would you feel receiving your $750 property damage settlement check, knowing that three weeks ago, you dropped a $2000 engine into your now-wrecked beauty???

If you can spend a SMALLER amount of money (compared to restoring roadworthiness) to purchase a working, functionally equivalent vehicle, that would be where I'd put my money. And that's true even though that replacement might not be in great shape itself.

My Dad and his twin brother did something similar in their HS years back in the 50s. Their uncle had an auto salvage yard, and he'd sell the brothers clunkers that barely ran for break-even money. They'd drive one piece-of-whatever for weeks (or even days in some cases), have it towed back to the yard (or in a couple cases, abandon them -- hey, it was the 1950s...), and trade it in for another one that ran.


1. Vehicles fail predictably in a cyclic manner. Once you have owned a vehicle for a few hundred thousand miles, you will know what will fail. Anything new failing would be an anomaly. I have read mechanics saying on here with confidence that w person came in for x repair and he would be back in y miles for z repair. If a mechanic can predict what will need to be repaired with confidence, then the possibility of some random expensive repair occurring that you could not possibly know would happen is extremely slim, because if failures were random events, then mechanics' predictions would cease to be accurate and they would not make them with any amount of confidence. This is validated by the fact that repair shops, especially dealership repair shops, do not certain stock parts for vehicles when they never or rarely find themselves needing those parts for repairs.

2. Collision damage is an ever present risk. If it was too expensive to afford before a problem developed, then it was not worth driving the vehicle. The idea that the check you receive from your insurance company makes a new car purchase worth it when you consider the fact that you could have gotten the same money plus the deductible if you sold your car before wrecking it. The only use that such a check could provide can only be psychological.

Any money spent buying or repairing a vehicle vanishes when it is spent. If either situation occurs after buying or repairing a vehicle, the only money that vanishes is the money that will be spent rather than what was already spent. Effective minimization of losses is dependent on minimizing occurrences that require money be spent, which can only be done in the past when the decision to purchase the vehicle was made (i.e. deciding to buy a vehicle from a manufacturer with a statistically low percentage of problems or one with a statistically high percentage of problems).

Originally Posted By: ekpolk
Originally Posted By: jduramax
... but, maybe you don't need synthetics?? ...


Heretic!!! Be careful lest you find yourself being tossed into a vat of boiling oil. Synthetic oil!
wink.gif


Seriously though, this is one of the fundamental points I've learned since I joined here almost four years ago. Until I came here, all I had to go on was that cheezy "Motor Oil Bible". Now I've seen the UOAs and studied much of the tech info that's available here. I still think synthetics are "superior" but only in a defined envelope of performance. They can go longer than dino, and they can endure true extra-hot environments that dino can't, but most users never encounter real long OCIs or have really hot engines (turbos, 'vettes, and special cases excepted). Modern dinos are a far better product than I would ever have believed four years ago. Million mile Chevy P/Us run on yellow-bottle Pennz would seem to make the point nicely.
cheers3.gif



I brought some Pennzoil Platinum once for use in my Avalon, but I never used it. I use Castro GTX in it (the oil in my Avalon has 5500 miles on it now) and I have had no problems. In fact, my uncle (who was a huge car enthusiast when he was my age) thinks that my 5000 mile oil change intervals are wasteful because the oil always comes out clean (which I credit to the Purolator PureONE oil filters I use), so I am gradually extending my oil change intervals. Next week will be my first 6000 mile oil change interval.

I imagine that true cost savings would come from using bypass filtration in my Avalon rather than synthetic oil. Here is an article about one company advertising 30,000 mile oil change intervals on conventional oil when using their bypass filter:

http://www.news.com/8301-11128_3-9883278-54.html?tag=bl

I really think that with a quality oil, the oil filter matters far more than whether or not the oil is labeled synthetic. Not to mention the idea that synthetic oils are synthetic is a lie when you consider the fact that almost all synthetics are Group III oils.
 
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