AMERICANS keeping their cars longer

[John105]

Agreed!!!

No need to use cars as a status symbol.

Exactly! Imagine if acting right were a status symbol?

 

[ATex7239]

A quicker path to wealth is not replacing vehicles in until absolutely required.

That is an over simplification.

Poor people do that too though. I grew up poor and we had older vehicles which we drove into the dirt out of necessity. That didn’t unto itself make us wealthy.

Conversely I know a few very wealthy people who only drive newer vehicles. I know one family in particular who owns several huge multi-million dollar homes. All purchased cash. Buying a new Mercedes for them is like buying a new pair of shoes. It is basically inconsequential.

 

[gman2304]

I grew up poor and we had older vehicles which we drove into the dirt out of necessity. That didn’t unto itself make us wealthy.

I Agree. But it did help to make you “less poor” .

 

[ATex7239]

I Agree. But it did help to make you “less poor” .

So would picking up a quarter I found on the street if we’re gonna oversimplify everything.

 

[gman2304]

So would picking up a quarter I found on the street if we’re gonna oversimplify everything.

I agreed with you and gave you a thumbs up! Your parents and mine obviously had their priorities in order. A lot of poor people will sacrifice the rent, food, electric bill etc just to drive around in a nice car! It actually is pretty - - - - Simple!

 

[chrlsful]

That is an over simplification.

so is any theory, summation, 'saying' etc. This 1 is true too
AND
I agree w/U as well, BUT...
think of the ratio the rich guy's wealth compared to the car / the poor guy's wealth compared to the car.
Therefore it is a quick way to wealth for the poor to run that car into the ground not abandon it early (if wrking on DIY plus the way we do - junk yrd when needed, big bx stores usually)...

Instead of sentences lets use math, it is so much more precise. Car purchase costs, repair costs (the time/labor is free). Hypothetically I can make it go either way. In life (I use the same decision tree) it seems I cant tho. Getting something new-to-me (C post 13) is never the savings choice. Now, getting 1 - 6 y/o car WAS, as there was a great ROI. Dont have the frnt $ now, a loan (bank) would flip it to the 'loss side' again. One must look at it from as many angles as possible (lease scenario not covered here) not just one~

 

[grampi]

Prices for new vehicles and the lack of cheaper sedans as an alternative have killed the average buyer.

New vehicles are no longer priced for the masses, and I refuse to take a loan for 8+ years just to make the payments manageable...

 

[Allaneddie]

So would picking up a quarter I found on the street if we’re gonna oversimplify everything.

But there are hidden costs to picking up the quarter: biggest being personal injury when the back disc gives way or your knee pops or, heaven forbid) you fall over and hit your head on the concrete.

 

[Chris142]

Still daily driving my 02 jeep. 195k on it. The 07 fj will hit 200k this week.

 

[MCompact]

I bought the 3er new in November 1995 and the Wrangler in May 2002. That said, I'm not averse to new technology, so I also like to have a newer(and faster) car in the garage.

 

[CKN]

Our guys feel safe flying B-52's.

But yet they are hardly the same plane-really.

 

[UncleDave]

But yet they are hardly the same plane-really.

From a % of original probably numerically not.
Just a point that with proper maintenance and parts availability you can make anything last a long time.

 

[CanAmAndMore]

Last year I splurged and bought myself a new Porsche.
I'll most likely drive it till too old to keep driving, then my daughter can have it.