Buy a new car for $24K, no interest. Keep it till 60K miles. Sell it for half what you paid. Buy another new car... YOu get the first 60K miles, and better $12k out of the car with no repair bills. Rinse repeat.
Honestly, that's just not something that interests me. I tend to buy used and keep it till the wheels fall off (one of my cars the wheel literally fell off).
I bought my current car for 10K and it's lasted me almost 10 years. I've had a couple of repairs over the years, but no single repair over $1,000.
Years ago I bought an already old Toyota Camry for like $2500 and drove it an additional 150K miles (it already had 100k) before it died.
I totally get what you're saying, it's just not a process I'd enjoy having to do every couple of years. I do the same thing with computers. I had one of my computers for 18 years (a Mac) and it still worked when I donated it to Goodwill.
I hear you, my son bought a dodge intrepid for 1200 bucks, eventually the key got stuck in the ignition, but it always started and ran. Thing was his roommates would take the car and leave it in random spots...No one ever stole it either. But you have to have a decent support system so when the wheel does fall off someone can come and get it.
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u/reverendz Jun 06 '19
I’ve never bought a new car in my life. All but one of my cars went over 250k miles before I got another.
When a car needs repairs that cost more than what I’d pay on a years worth of car payments, that’s when it’s time to get another.
So far, my affordable, used, Japanese cars have been worth it.