How Long Do You (Plan to) Keep Your New Car for?

prophet on 04/09/2020 - 15:42
Last edited 04/09/2020 - 16:10

I've been wondering how long most Ozbargainers keep their cars for? Or if you haven't changed your car yet, how long do you plan to keep your car? This is for people who buy their cars new (first owners).

I thought about this while checking servicing prices and noticed a pattern. Nearly all Japanese/Korean cars have capped priced servicing for 3-5 years (Honda, Mitsubishi, Subaru, Toyota) or even for life! (Hyundai, Mazda). On the other hand, some European cars don't offer any capped priced servicing at all (Audi, BMW, Volvo).

Useful article with summary table:
https://www.caradvice.com.au/299662/capped-price-servicing-f…

Poll Options

  • 13
    2 year or less (insurance definition of "new car")
  • 92
    3 to 5 years
  • 368
    5 to 10 years
  • 206
    10 to 20 years
  • 9
    20 to 50 years
  • 4
    More than 50 years (I ain't going to let go of my vintage yo!)
  • 33
    Forever (I keep all my cars, duh)
Automotive Car

Comments

    • prophet on 05/09/2020 - 08:25
      -2

      12k for 3 years seems very low. You mean 120k?

      • Harold Halfprice on 05/09/2020 - 16:17

        I estimate that in 10yrs it should be nearly ready for a new set of tyres.

        Pretty sure he means 12k in 3 years…

        Unless you're on the road for work, 40k a year would be pretty unheard of. 4k a year is low but not uncommon.

      • Akya on 05/09/2020 - 22:05

        My parents have a 4 year old car they bought new and have only done about 15k…

        • lhou021 on 08/09/2020 - 17:28

          same here, bought a new car in March last year, so 1.5 year old, I have only done about 2500.
          It is a weekend car, so not uncommon

      • miwahni on 07/09/2020 - 18:09
        +1

        Nope, 12,000. Just clicked over to 13,000 yesterday. I don't drive much :-)

    • Fobsessive on 05/09/2020 - 15:54

      Tyres become unsafe after 5 years no matter the usage

      • OldnBroke on 06/09/2020 - 21:54

        Let me guess, you work in a tyre shop?

        • Fobsessive on 06/09/2020 - 23:23

          No. Just what I read on the internet, which may be misleading information from tyre shops. Any thoughts on going beyond 6 years?

          • OldnBroke on 10/10/2020 - 13:30
            +1

            @Fobsessive: Michellin, for example, have a six year warranty and reccomend replacement after 10 years. Note that even at 10 years there is no real evidence that tyres become unsafe. How the tyres are treated is probably just as important as age.

            I've been driving about 35 years and regularly have good quality used tyres fitted to my vehicles. I've driven over 1 million kilometres and the only tyre failure (i.e. excluding punctures) I have experienced was the sidewall separating from a stock tyre on a new vehicle.

            • Fobsessive on 10/10/2020 - 16:17

              @OldnBroke: How old did your oldest tyres get? Wondering how safe aggressive cornering would be in aging tyres (eg RE003) lol

    • BartholemewH on 07/09/2020 - 15:15

      It is recommended you should change the tyres 7 years from the date on the sidewall as they will be brittle by then. I changed the tyres on my wife's car at 7 years old. It had 30,000 k's on it.

  • ihbh on 05/09/2020 - 07:28
    +1

    15 years so far with the Camry.

    • BeamMeUp on 05/09/2020 - 08:34

      Bingo. Same. Only ever had basic maintenance costs. Mechanic says you can get 500k klms out of them. Looks like I will get another 30 years out of it. Gives random passengers a laugh to see the cassette deck that was standard.

      • ihbh on 05/09/2020 - 08:40
        +1

        Mechanic says you can get 500k klms out of them.

        Oh gawd… it will probably last my kid's lifetime.

        basic maintenance costs

        Yep, just had to replace driver car seat and get headlights buffed (pink slip requirement), and usual tyres and windscreen wipers.

    • Stopback on 07/09/2020 - 14:22

      my only danger with an older car, is that safety on new cars have improved so much

      would be fine if it was only a city driver,

  • TimSubaru on 05/09/2020 - 07:47
    +1

    Keeping a car in my opinion depends on make you bought . European cars can be more expensive to maintain so are great deal 2nd hand as long properly serviced. Japanese are reliable so worth keep going over 10yrs.Holdens / Fords easy to find cheap wrecker parts if need be.

    Capped price servicing means very little for some makes as it just a price. CheAper capped pricing then cost/ subsidies by the manufacture like Toyota $170 ,Mitz $199 are really just included in the manufactures pricing. Not really a saving. A great independent mechanic using genuine parts may be cheaper then capped servicing!!!

    • prophet on 05/09/2020 - 08:24

      Cheap wrecker parts for Holdens and Fords. Interesting… How did you come to realise that?

      • magic8ballgag on 05/09/2020 - 09:40
        +1

        Or explain why you think they aren't?

        • Monad on 05/09/2020 - 20:31

          Perhaps Ford/Holden parts are not cheaper, but very ubiquitous. I know when I go to "pick a part" i'm not concerned if I'm going to find a part as there are so many Falcons to choose from. Perhaps Japanese parts might be more expensive at a traditional wreckers,but I don't think would be much difference. Certainly, at a self service wrecker, the prices are the same from my experience, whether European, Japanese, Korean, Aussie. So perhaps it is more availability than price difference.

          • stewy on 06/09/2020 - 03:06
            +1

            @Monad: Wreckers are often over priced I found.

            On the other hand, lots of cheap but acceptable aftermarket parts available on eBay for Falcons and Commodores.

          • greatlamp on 06/09/2020 - 07:35
            +1

            @Monad: They go hand in hand. I had to replace a broken side mirror on an old BMW. A wrecker quoted me $110. This was for literally just the glass.

            I ended up finding a brand new genuine part for $15 on eBay, + $25 shipping from Eastern Europe.

  • prophet on 05/09/2020 - 08:20

    There's a surprising number of votes for "Forever" (currently 11%, 18 out of 162). Do you guys keep your car till it dies (i.e. only owner till completely written off) or are you guys just trolling…? :)

    • peteru on 05/09/2020 - 15:18
      +3

      No trolling. Basically keep a car as long as is practical. Two years ago the insurance company wrote off our 2001 Subaru Impreza RX because a rear collision deformed the boot to a point where the repair was about the same cost as insured value. If it was not for that event, we'd still be driving it, almost 20 years later. There was nothing wrong with the car at the mechanical, comfort or feature level. At one point I considered upgrading the factory standard "entertainment unit" (aka CD player/radio), but then decided that there was no real need. A well secured phone cradle for using Google maps was a perfectly acceptable solution.

    • Fobsessive on 05/09/2020 - 15:53

      Keeping until write-off: Honda Accord Euro CL9 1st gen. Still looks modern and is a great platform for aftermarket performance modifications. Wear-and-tear repairs are predictable and not crazy expensive.

    • Stopback on 07/09/2020 - 14:23

      old cars can depreciate so much they start to appreciate

  • crashloaded on 05/09/2020 - 08:27

    Bought new in 2012, still have the car, probably would have upgraded if i could write it off on tax but no longer work for myself.

  • Myone888 on 05/09/2020 - 08:35
    +1

    My 10 year old Merc E250CGI started giving problems like all the hoses are hardening up. In March 1 pipe burst and had to change 4 hoses! Many many small large repairs to do an might cost up to $6-7k. So I sold car. Couldn’t upkeep it anymore. In the last 10 yrs already spent more than $10k on upkeep.

  • HelpMeiCantSee on 05/09/2020 - 11:12

    My car is always 15+ years, until it’s unviable to repair. Has been landcruisers.

    The “family” car (wife’s car) usually 3 years, sometimes 5 depending on how happy we are with it. Mainly to keep up to date with safety. If no different/better safety tech, no upgrade unless I didn’t really like the car. Currently have a fortuner, which has been pretty awesome but I wish I had adaptive cruise. I’m torn if we swap it in a year or keep it for a few more.

    • prophet on 05/09/2020 - 12:43

      Cruiser for 4x4?

  • giveback on 05/09/2020 - 13:10

    Not sure if you knew since it wasn't mentioned by OP.

    Merc has Corporate Programme that offers 3 year free servicing and 5 year warranty for some new/demo cars. So 5 years of minimal service cost on a Euro car. You can get novated leasing and change a new car every 3-5 years if it makes sense financially.

    • giveback on 05/09/2020 - 16:26
      +1

      Forgot to answer the question, I bought my first car, Honda Insight in 2011 and it's still in very good condition. Jap car lasts forever they say or at least a very long time.

      Plan to keep it until it costs more to repair the car than its market value …. or until my wife wants me to get a new Euro car (Merc or Audi only but likely Merc due to classiness) when we can drive as much as pre-pandemic. Whichever comes first.

    • Jamesrulez1 on 05/09/2020 - 19:58

      Lots of brands offer similar. When I went to purchase my Lexus they offered the same under their corporate program. Will be trying out Audi next.

      It's not relevant if the individual isn't employed by a corporate partner of the car brand.

    • greatlamp on 06/09/2020 - 07:37
      +1

      Merc also offer 2 years warranty on their used cars, which is very generous

  • Zephyrus on 05/09/2020 - 15:44

    Capped price servicing isn't really of much value past the warranty period (even then it's debatable).

    All decent car manufacturers have a servicing schedule, all they're really doing is quoting you however many years in advance what the price will be, subject to some terms.
    It doesn't cover anything else going wrong with the car and sometimes doesn't even some parts (oil, brake fluid, etc.).
    These things are normally just checks, oils change, spark plug changes, brake fluid changes and that sort of thing, all of which are pretty predictable.

  • gromit on 05/09/2020 - 15:46

    usually 5-7 years. depending on my warranty, lease and tax arrangements at the time. Current car goes out the door this december (5 years).

    • Logical on 05/09/2020 - 23:27

      Which door as I want to be there to collect it.

  • Fobsessive on 05/09/2020 - 15:50

    Same car forever, new bolt-on modifications

  • OzzyOzbourne on 05/09/2020 - 15:52

    Until my company tells me to change it, usually 6-9m

  • cimrak on 05/09/2020 - 16:02

    I think it's one of two options;
    - lease and renew every 2-3yrs for a newer car at roughly the same outlay so it's easy to budget
    - purchase and keep for 10-15yrs

    My 2008 Mazda6 GH is still running great mechanically after 12yrs, however that has come at the cost of faded/peeling paintwork as it has always been kept outside. I'm in two minds about getting it repainted for ~$2k and keeping it for another 5-6yrs, or waiting for a minimum trade in deal and moving to a newer model next year.

  • Diesmile on 05/09/2020 - 16:57

    first new car 2006 honda, passed to parents on 2015 and bought a new lexus, prob keep 10years

  • PixelPaul on 05/09/2020 - 17:42

    capped priced servicing does not mean the price will not change.
    They have increased multiple times for all brands over the years, even with this "capped priced servicing" deals.

  • aussie bargain on 05/09/2020 - 19:17
    +2

    I don't buy new cars.
    Generally, I buy used cars that are about 5-8 yrs old with low mileage and then use it until it's costing me too much to repair the odd bits like starters etc etc.

    My last one lasted until it's 15 yrs old (still goong okay), but at that time we also wanted to upgrade to a 7 seater so traded it in.

    • field1985 on 07/09/2020 - 14:21

      ^This is how you maximize value and minimize cost^
      You get all the benefits for 40% the new price.
      99% of people can't tell a 5 year old car from it's "updated" model with new air-vents.
      Only thing I would add is, never use finance, offer cash for further discounts.

      • Stopback on 07/09/2020 - 14:24

        there still is some risk, 4k verus getting a total lemon

        • field1985 on 07/09/2020 - 17:41
          +1

          If you do your due diligence you should easily be able to avoid lemons five years after release, based on user reviews, forums and manufacturer recalls. Meanwhile buying new certainly carries the risk of buying a lemon because there is no way to verify a new models reliability.

      • aussie bargain on 07/09/2020 - 15:12

        Cash in my experience doesn't matter as much anymore (compared to what it used to).
        From my experience, those guys nowadays prefer finance as they probably get more commission out of it.

        In terms of lemons, yes there will always be a risk of lemons.
        My approach is to go to a somewhat reputable dealers (i.e. big names) who probably has more to lose from a reputation perspective. Buying from an LMCT technically also gives you access to the lemon laws.

        There are no guarantees either way as we have seen in other posts here where some new cars can be defective.

        • field1985 on 09/09/2020 - 18:05

          Cash was better then bank transfers, however I haven't bought/sold a car since PayID started a couple of years ago.

          Of course they prefer finance. If you need their finance, you certainly can't afford it.

    • michaelTito on 05/09/2020 - 19:53

      damn you westpac employee

      • Jamesrulez1 on 05/09/2020 - 19:54

        Unfortunately my cars aren't a high yield investment.

        • michaelTito on 05/09/2020 - 19:57

          lies

          • Jamesrulez1 on 05/09/2020 - 19:59
            -1

            @michaelTito: If you want to buy them off me at a premium they could be high yield investments :)

    • Jamesrulez1 on 05/09/2020 - 20:01
      -1

      I can't edit my post as someone's replied to it already but I forgot to mention some of the other common reasons why.

      1. Warranty
      2. Free servicing (including them picking up the car and returning the car after it's been serviced + loaner cars if applicable)

      My first car was a Honda Civic (10th generation) and I had it for about 6 months. A huge headache with the dealership as they scratched up my car and wouldn't take the blame (explicitly told them not to wash it and they did anyway). I then needed to take it in for servicing 3 times in those 6 months (check engine, check oil, scheduled service).

      • Monad on 05/09/2020 - 20:23

        3 times in 6 months for routine servicing. How did they justify that?

    • bejahi on 05/09/2020 - 21:48

      That's pretty funny. 10 months ago you were:

      "$100k~ Salary after tax and $40K~ p/a in side gigs and more in capital gains)"

      Covid been good to you hey mate. 😊

      Incidentally, how many times have you flipped these new cars every 3 years, at the age of 23?

      • Jamesrulez1 on 06/09/2020 - 01:19
        -5

        10 months is plenty of time to improve yourself :)

        Side gigs and hustles came with the ecommerce boom and a ton of contract jobs (>$200 P/h).

        I switched jobs one month after my FF post after being poached by a company that has benefited greatly from Covid (think Astrazenica).

        Only flipped my Honda. Already planning on flipping my Lexus and Merc when I get my fulls.

        Stock market wise check out APT's performance during covid.

        • bejahi on 06/09/2020 - 07:22

          😏

          • Zachary on 06/09/2020 - 15:13

            @bejahi: hahahaa that smug look…

          • michaelTito on 06/09/2020 - 23:46
            +1

            @bejahi: Dude didn't read the news about Kodak share. He could have got himself a lambo.

  • nawapb on 05/09/2020 - 20:16

    Bought a corolla zre152 sedan conquest in Nov 2007, still running fine only thing ever done on it is one pair of front brake pads, Tyres when required and battery replaced twice. Replaced the 6 CD changer(dont know what i do with it) unit with a carplay headunit and added a reverse camera. As others have said i will keep driving until it stops. only serviced 3 years with toyota as had capped price servicing. ever since only service once a year with good oil with local mechanic as i only drive around 10k a year. the recommended interval is 6 months.

  • Carmen Sandiego on 05/09/2020 - 20:25

    My first car was the family's secondhand 1994 Toyota Camry Station Wagon. That thing lasted everything. No longer have it because one of the caps rusted and rust killed the engine. It got sold to a scrapyard last year who paid $200 for it.

    The car I have now is my brother's 2011 Hyundai Elantra. Added rear sensors from eBay on it and it's perfect <3 I would only change once I have kids with the SO but, even then, it's a lovely family car :)

  • Vote for Pedro on 05/09/2020 - 21:17
    +1

    Is it true you if you plan on selling you should flick your car before 100,000km for best price or was that a local myth

    • [Deactivated] on 05/09/2020 - 22:05

      I think you avoid a major service cost and it just appears better, 98,000 will look better than 105,000 so people are more likely to buy at a higher price.

    • greatlamp on 06/09/2020 - 07:40
      +1

      I would be selling between 60k and 80k.

      People buying used cars see 95k, and think $2k major service will be due soon. You won't even get looked at by those buyers

      • Vote for Pedro on 06/09/2020 - 20:07

        Thats a weird neg you got there from someone without bothering to explain why.

        • Euphemistic on 07/09/2020 - 07:31

          Selling either well below the major service, or just after it makes sense as a buyer. I don’t want another $2k bill for a timing belt in the next 6months if I’m buying a car unless it is priced accordingly.

  • [Deactivated] on 05/09/2020 - 22:17
    +2

    I've lived in 7 countries in the past decade. I change car every year or so. I once almost reported my Beemer as stolen until I remembered that that was the car I was driving in Germany and that I was now in England, where my daily driver was an F-pace. They were company vehicles so I never really got attached to them.

    Thanks to Covid, I'm back home and one of the first thing I did was buy a 2018 Hyundai. I love that car so much because it's mine and leave it ever so slightly messy because I can :) If I have my way, I will own that car for a very long time.

  • JTTheMan on 05/09/2020 - 23:03
    +1

    Have a 2015 (MY16) VW Touareg - bought it new and it still feels like new. It will reach 5yrs old in December with no plans on selling yet. I might wait for the Tesla cybertruck to replace it!

  • sathion on 05/09/2020 - 23:35

    I bought a Honda Jazz at the end of 2018, wife and I are considering selling/trading in once finance is paid off in 3 years and upgrade to something larger.

  • [Deactivated] on 06/09/2020 - 00:49
    -1

    3-5 years is my average.
    Get bored of them after that long.
    Not only that but the warranty is up too.

  • mrgeckoz on 06/09/2020 - 02:00

    had my mk7 golf since 2013, loving it. done 90k on the odo so far.
    im thinking somewhere between 120k-150k, instead of time in years.

  • casho on 06/09/2020 - 08:52
    +6

    Needs a "I never buy new cars" option

    • AMLagonda on 06/09/2020 - 14:58
      +4

      yes, In MY opinion a true Ozbargainer would not buy a Brand new car, the depreciation is huge as soon as you drive it off the car lot. :o

      Most seem to be company cars anyway for Tax reasons.

  • bender000 on 06/09/2020 - 12:03
    +1

    10 years / 100,00km is the sweet spot for me - long enough to get good value and extract most of the depreciation, but not so long that the car feels like a beater.
    Basically when the car starts to get to around the $5000-$10,000 mark.

  • Aceboy884 on 06/09/2020 - 12:28
    +2

    Like a camel or a horse

    I ride it until it’s dead

  • ass3ts on 06/09/2020 - 13:06
    -1

    I normally get bored after around 1 year. Mostly top-end near new cars. Works out to be a better way to enjoy all sorts of interesting cars while avoiding the initial 6-digit depreciation.

    • Mr Haj on 06/09/2020 - 14:12
      +1

      the biggest depreciation occurs when you buy it…

  • Mr Haj on 06/09/2020 - 14:11
    +1

    I buy a new car every time I see a deal for one posted on ozbargain

  • AlanHB on 06/09/2020 - 14:23

    Till it doesn't work generally, or when it becomes a technical write-off (costs of fixing are higher than replacement of same value car).

    My family never really placed great value on nice/new cars, so as a result my parents and all siblings tend to drive beaten up/worn cars, despite all making 6 figure incomes. I didn't even notice it till someone pointed it out to me last month.

  • pogichinoy on 06/09/2020 - 16:50
    +1

    15 years since new with my Honda.

  • Empharand on 06/09/2020 - 16:53
    +6

    I'm still driving a 2001 Sedan, it's depreciated so much that at this point it's worth more to me as a driveable, functional car.
    Unfortunately not all of us make 6 digits a year and can go out and buy cars every few years.

    • AlanHB on 06/09/2020 - 19:49

      No need to buy a new car dude. Its just a tool to get your to places. If it works, and cost above that is a waste of cash.

  • steve289 on 06/09/2020 - 17:41
    +1

    Average around 10 years, current car I've had for 9, and is just on 10 years - purchased as a 12 month old dealer demo.
    Have had nil problems with it, but doing plenty of research and keeping my options open for next car as a 'just in case'.
    Preventative servicing is sort of required now (10 years or 160,000 km, and i'm on 115,000 now). Will take the gamble and not spend $2000+ on new thing belt, tranny & major services etc. Call it a cost V reward ratio for a car that will not get me that much at trade in, and if I can run for another few years, I will financially write the car off, pay full price for a new one, but have effectively saved myself future years of depreciation on the car I didn't but in 2020.

    • Fobsessive on 06/09/2020 - 23:24

      What car?

      • steve289 on 07/09/2020 - 08:43

        Ford Mondeo, MB diesel

    • samfisher5986 on 08/09/2020 - 09:24

      On the other hand, if you buy new parts for you car, they are guaranteed for X amount of time.

      If you then buy another second hand car, you generally won't get recently replaced parts and that big service could be coming soon, as well as any other potential issues with buying a car.

      Personally I think if you take care of your car and know its in good condition its cheaper to keep it as you generally won't get too many surprises.

  • giventofly on 06/09/2020 - 18:33
    +1

    I usually buy a car that is 2-3 years old, and keep it for about 7-8 years - so when the car itself is about 10 years old

    Got a 2010 CR-V and it is gonna be time for a new one soon. It drinks fuel like a V8, except it's a 2.4ltr 4cyl that gets around 12.7lt/100

    • Fobsessive on 06/09/2020 - 23:23
      +3

      too much VTEC lol

  • SlickMick on 06/09/2020 - 19:38

    I got a BMW in 2008 with the intention of selling it after 5 years and repeating, but ended up keeping far longer, but it cost us.
    This time we got a Kia with the same intention, I intend sticking with the game plan this time. Modern cars are difficult and expensive to fix.
    And a lot of new features come out in 5 years.

    If Toyotas are as reliable as I hear, I reckon they could own the market if they gave a 10 year warranty. But then I guess they'd only sell cars every 10 years instead of 3??

  • Bid Sniper on 06/09/2020 - 22:12

    I dont buy new and after warranty I service it myself. Last WRX I had for 15 years because Subaru managed to make the WRX worse from 2006 to 2016. Have the current WRX STI, probably be the last with the trademark engine note as they are going DI motor. Modern cars sound like ass or no sound at all, also manual being phased out, so will hold onto it. Probably will sell my daily Kia before it hits 100,000km be a few years yet but same issue. Its now a rare car and like it, so might hold onto it too.

    Getting old, new cars these days kinda bland, too expensive and no manual.

    /yells at cloud…

  • [Deactivated] on 06/09/2020 - 22:47

    Just imported another JZX100, cost 20K landed, they're already up in the 30K~ range now, going to hold it for another 5-10 years and get 40-50K for it and drive it as well, solid investment.
    I'd never buy a new car but that's because I'm more interested in high yield investments over depreciating cars.

    • nomoneynoproblems on 07/09/2020 - 10:20

      Wow I can't believe they are worth that much now. I was looking to get one 8 years ago for around the 10, 12k mark. Manuals were going for 15k at the time. I don't see them going up that high especially with the way the global economy is heading though.

      • [Deactivated] on 07/09/2020 - 11:41

        I had a Twin Turbo Supra with v161 for 19k 5 years ago, they're now over 50K lol.
        Plenty of rich people around the world who finally have access to import these cars and won't mind paying the premium.
        Wish I could set a reminder for 5 years to see where this is at.

        • nomoneynoproblems on 07/09/2020 - 12:51

          Supra I can see why. Legendary car with the pedigree to match. A jzx100 is a rwd Camry though lol.

          • [Deactivated] on 07/09/2020 - 12:58

            @nomoneynoproblems: At this point it's anything with a JZ motor in it; not sure why even the JZX110, blitz wagons and Crowns have boosted in price 30+% over the last month.

  • Trioboy on 07/09/2020 - 08:10
    +1

    10+ years with the 2010 Jeep Cherokee
    15+ years with the 1993 Toyota Corolla

  • brad1-8tsi on 07/09/2020 - 09:13

    Bought my Octavia in 2008 intending to keep it 2-3 years. It was a good car so I decided to give it to my daughter for her 17th birthday in 2016 except she didn't bother to get her licence until 2019 and didn't get a manual licence.

    So here we are in 2020 and I'm still driving it.

  • Oz8argain on 07/09/2020 - 10:41
    +2

    have the 2013 Camry, I dread every minute driving it going 7 years now. It does a terrible 12L/100km, but it's too reliable and never had an issue. I hate it. I dream about someone totalling it one day.

  • weee on 07/09/2020 - 10:52

    keep it till service is worth half of the car

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