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Creator
Mike Chimirev
Staff
Mike Chimirev
Creation Date
June 03, 2009
Replies
Comments (6)
Categories
Auto, Car Leases, Car Insurance, New Cars, Used Cars, Home/Auto
Categories
car, miles

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Thomas Fisher, CFP® Matthew Gould Minhthe Luu Francisco Mike Chimirev Barclay Ezra Kucharz Erin
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Francisco
Staff
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I always buy used car as well. My last car was a 2001 Buick Regal, it came close to dying at 90000 miles and I got rid of it. Driving a 2000 Camry now with 80000 miles and running strong. Japanese cars and just so much better than American cars.

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Matthew Gould
Staff
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I've found that a regular oil change can really help keep that car going beyond the 80k mark and really get the most out of your car.

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Boardmaster
FiLifer
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I think the best option for someone looking for a reliable car without spending a fortune on a new one is to go certified pre-owned. People often sell their car when they feel it will cost more to maintain than to keep -- so why would you buy a car from someone in that situation? Of course there's no way to know, but if you're relying on the seller's honesty, good luck!

With certified pre-owned, you get the dealer's certification that the car is in good condition plus a multi-year extended warranty. Oh, and you don't take as big of a depreciation hit as soon as you take the car off the lot. Works well for someone not too mechanically inclined or someone who doesn't want to deal with problems (such as myself). In fact, I've only had one major problem (transmission), and that was covered by my powertrain warranty.

My total year-to-year cost: $3K for a luxury sedan.

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Mike Chimirev
Staff
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The best way to get money's worth out of your car is to drive it to the ground (assuming you have a good mechanic, or you know how to fix cars yourself).

I've thrown out my Buick at 136K miles, killed the engine in my BMW at 86K miles, sold my Nissan at 136K miles, and my Honda running healthy at 142K miles.

In all cases I bought my cars used, and never exceeded $2K/year (between initial cost, and repairs over the next X years).

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Eric Capper
FiLife Contributor
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The odometer on my recently junked1990 Volvo failed in 2004 when I took it for my last two years of college. At that point it read 170,000 miles; current miles have to be near 220k-230, best guess.This car was a tank.

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Mike Chimirev
Staff
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Tell me your used car success story http://www.filife.com/groups/used-cars/32/forum/153

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