car payments vs. "new" used vehicles

[Tacoma]

Greg's thread, and Shawn's post about saving money by not paying mechanics, got me thinking.

Over the last.. 11yrs in UT, I have gone through a lot of vehicles. For 10yrs of self-employment:

1. 73 GMC K20-- $4000
2. 87 GMC G30-- $2600
3. 78 Chevy K20-$4000
4. 95 Ford E350- $9500
5. 87 Chevy G3500-- $2600?
6. 87 Chevy V3500-- $4700
TOTAL------------$27,400
shop repairs ------ $5,000
Grand total---------$32,400

Or, roughly $3,000/yr on vehicles. Compared to buying a new work truck, and paying the extra insurance for full coverage, I feel pretty good about that list I guess. That new truck would have roughly... 600,000mi on it right now too, with the attendant repair costs.

For the same 11yrs w/personal vehicles:
1. 81 Cherokee Chief-- $2600
2. 78 Cherokee Chief-- $3000
3. 99 Cherokee Sport--$12000
4. 89 K5 Blazer------- free
5. 89 Suburban--------$2600
6. 90 Suburban--------$800
TOTAL----------------$21,000
shop repairs--------- $400
GRAND TOTAL---------$21,400

So overall, that's about what... around $5k/yr for two vehicles for the last 11yrs. Or two car payments of $210/mo for each, if they were financed.


Interesting to break that down. There have been a few times I wished I was in a nice new Dodge diesel, or a zippy new car, but that kind of cements reality there for me.

 

[bobmed]

Man, you go through vehicles.
In the last ten years Ive had
69 VW bug $400
85 Datsun Sentra Free
95 Mazda 2300 $2000
77 Bronco $800
2000 Ranger $10000
69 Commando About $10000 in parts

 

[Tacoma]

all the work trucks just got chewed UP, lots of miles and abuse

the personal vehicles, yeah, too many.

 

[Rot Box]

I once became so tired of working on cars that I went out and bought a new used truck so I didn't have to deal with the headache of an unreliable daily driver.

I really wanted a Cummins 5 or 6 speed, but at the time a nice one was at least $15000+. So I settled for a 95 Chevrolet K2500 6.5 Turbo diesel with 32,000 original miles -the definition of grandpa truck - for $12,000. In one year I suffered through about $5500 worth of repairs (me doing all the work), and that's not counting the endless time spend doing it. The day I finally gave up was when the rear main seal blew... Rushed to the Toyota dealer and traded it in on an 01 Tacoma at the time I didn't care how much I'd loose on trade in.

$12000 + $5500 (repairs) + $5000 (lost on trade in) = $22500 Sure would have bought a nice Cummins or D-max

I guess what I'm getting at is buying newer isn't always better...

 

[Shawn]

There will never be a better time to buy a new car like there is now. I personally guarantee if I had the funds I would be buying a new Lance Camper or one of those new Camaro's.

 

[NoTrax]

I now work at Auction Direct if you want to come take a look.... we can find cars at auction as well... lmk

 

[JoeT]

all the work trucks just got chewed UP, lots of miles and abuse

the personal vehicles, yeah, too many.

I think your problem is that you keep buy POS trucks.

 

[Tacoma]

I would agree with you if I didn't know the hell I put them through.

 

[sixb]

In Utah I bought a new Isuzu trooper in 93 for around 18,500.00 and drove it till 04 and put a 118k on it plus a few repairs but not many and no serious ones. Definetly a great suv. Then sold it for 3500.00 to buy a 04 Durango at around 27500.00 and still have it with about 22k on it and so far trouble free but a gas hog. That is our personal rides.

In 93 I bought an 84 f250 4x4 truck for 1,400.00 and drove it till 97, then sold it for 1,250.00 and don't remember how many miles I put on it, but was not a very reliable truck, the last straw was walking out of parleys canyon one day. Then I bought a new 97 f250 4x4 for around 22,000.00 and drove it till 158k pretty much trouble free also a great truck and took a beating on many fishing and hunting trips. I sold it in 04 for a new Ram 4 door 3/4 4x4 truck at around 27,500.00 which I put 50k on it & pretty much hated it for 2.5 trouble free years when I sold it for 19k and bought a 2002 1 ton 4x4 Dodge cummins at 18,500.00 and pretty much love it and still have it but have spent way to much money on it for up grades but very little on repairs. Also bought a 01 f150 cng in late 07 for 9500.00 and still have it and so far 11,000 trouble free.

I whish I could erase the 04 ram all togeather and still had most of the money I spent on extras for the cummins. Also I spend very little on intrest, either pay cash, or the longest I have ever had a vehicle financed for is 2.5 years. The same goes with my houses, I bought my first house in 87 back in Texas and have bought and sold a total of 4 houses since I was 20 and never financed a house for more then 15 years also always piad extra on the payments and always put the money made off the last one into the next one and now I am mortgage free since 04. I hope I am not comong off as bragging but just want to share what I have learned over the years, which would be to live within your means.

Been in Utah since 93.