We buy our cars with cash and drive them 10 years.
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I keep at least 10 years also. People who are stupid win stupid prizes
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Kept my last one 15.5 years. Not sure if the Tesla will last that long, but we’ll see.
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A guy at work with who retired last year was still driving his 01 Saturn. It still looked pretty good and he did all the maintenance and fixed anything that broke on it himself. He plans on keeping it forever.
My brother did something similar, he traded in a 10 year old Benz into a 5 year old Benz. His credit sucks so it was a high rate and upside down. He had a 90k loan on a $45,000 car, the rate was about 20%. It’s funny how you can have nearly same DNA, completely different habits.
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Right now, my wife drives a 13 year old 2011. She bought the 2011 after driving her previous 1998 for 13. She says she’ll drive this one until one of them goes. I drive a 2015, which is approaching the ten year mark of my prior car.
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Kind of the same. Currently driving a 2006 Chrysler Sebring. Hope to keep driving it until I have to or should “give up the keys to the car”.
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I only buy cars in cash…although I would consider taking a 0% finance deal over 36 months if available. I just cannot justify paying interest for a depreciating asset…
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We had the cash to buy our 1998 Ford Explorer but they were offering 0% for three or four years, we kept the cash in our money market and it earned close to 6% if I remember correctly.
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I keep mine till worn out. I average about 36K miles per year. My 22 Maverick now has 72K miles on it.
That’s what I did in July 2022, 0% for 48 months on my Ram 1500. I could pay it off now, but why in the world would I do that?
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I have a 2019 (bought in February 2019) Mazda CX5 that just turned 32,000 miles. I won’t be trading it any time soon.
Why I’m not the biggest hybrid fan.
I like my 250,000 mile cars. 4 years loan in 2014 for my Subaru. Has another 5 years before it becomes a clunker
And I thought $425/mo was expensive for 48 months
I see no reason hybrids would not last 15 years. My Tesla battery has an 8-year warrantee. After that, I suspect it will just be reduced range. I have a friend who drives an older EV with very small range (~40 miles) just to work and back. For that purpose, just fine.
My ex had a 2005 Prius with a little over 200k miles before the battery failed. This was 2016.