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

    • Euphemistic on 07/09/2020 - 10:58

      Then don’t get the service done and keep driving til it dies.

  • capslock janitor on 07/09/2020 - 10:59

    into the ground, or when repairs are no longer economical

  • Headless on 07/09/2020 - 12:36

    Bought a new 2007 Mitsubishi Colt Manual Black with some fruit - It keeps going and going with little issues.
    I do the oil change on time and its up to 220,000 k's

    Would I like a newer car? yes
    Do I want to pay for it? no

    The best thing car wise for me was to buy a new japanese relativley simple car - has cost me nothing in servicing (apart from tyres, batteries and the odd proper mechanic checkup etc)

    My tip, buy a new car and keep as long as possible.
    Cars are money traps

  • dirtybigbjelke on 07/09/2020 - 13:54

    2005 VW Golf 2.0FSI Manual owned since new. Time for a replacement. Car is still comfortable and drives well but it is aging. Recently spent around ~3k on major servicing (aged based cam belt and water pump replacement) and cooling system repairs so should be good for another 5 years with normal servicing but there are several minor issues and renting new cars makes me want a new car :) Would plan to keep the replacement ~10 years.

  • field1985 on 07/09/2020 - 14:14

    Anyone that buys cars new is not a true ozbargainer.

  • nickj on 07/09/2020 - 14:38
    +3

    Here's the graph of what the cost data looks like so far with my car, a Hyundai i30, bought second hand when 2.3 years old, until current (10.3 years old): https://imgur.com/a/R0KLcXI
    I've only included maintenance (i.e. the actual cost of mechanics for that year, i.e. for log book service + rego inspection + repairs of any issues found during these or that I found whilst driving), and depreciation (from the price I paid at ex-govt auction, down to current price based on lower end of prices listed nationally on gumtree).
    Haven't included petrol / rego renewal / CTP / Comprehensive insurance / etc, as these can depend on a lot of factors (distance driven, where you live, accident history, etc), whereas depreciation and maintenance are far more directly related to the age of the vehicle & distance driven. (For me, the "all-in" car cost, including those extra costs, would typically be in the general region of $3500 per year).
    During this period I drove around the same distance each year (around 6000 km per year), so that makes it really directly related to vehicle age in my case.
    Broadly I'd say that 2 to 10 years of age looks like the sweet spot for best bang for buck.
    Some notes about the larger mechanic costs:
    * When you first get a second hand car you pay a fair bit in mechanics to get issues repaired (my car came with a rego renewal certificate, but nevertheless it had mechanical issues that cost money to fix). So there's a transition cost in switching to another second-hand vehicle and getting teething issues sorted.
    * Year 5: There was a problem with the A/C. In retrospect, I think that should have been covered by Hyundai's warranty, but I had taken it to the Hyundai dealership twice and asked them to find the cause, but they were useless and claimed they had not seen this problem before (very unimpressed with dealership service centre). Whereas a third-party AC mechanic knew the issue immediately (poor quality hose in the AC) and was able to fix it and it's been fine since (which just confirms they knew what they were talking about).
    * Year 8: Needed a timing belt replaced in the engine due to the age & distance driven. Unfortunately this vehicle was the last model of the i30 with this belt, all the later models had a timing chain, which eliminates this large cost.
    * Year 10: Problem withe steering being loose. This is the estimated cost based on what the mechanic has told me (will find actual cost out later this arvo).
    * As the vehicle gets older, depreciation gets smaller and smaller, whereas large mechanics bills (approaching $2000) become more common. Previous vehicles (which I kept to around 15 years old) had a similar pattern.

    Hope that helps!

    • prophet on 07/09/2020 - 16:34

      Thanks for the detailed reply! (sorry for the neg. Somehow can't change it?! Weird bug!!)

      • nickj on 07/09/2020 - 18:49
        +2

        It's easy to mis-click, I've certainly done it myself before. To change the neg, you can either click the "+" next to the comment, or if that doesn't work click the "votes" link under the comment, and then click the "-" in the red circle between the neg symbol and your name and that will revoke your vote on a comment.

        • prophet on 08/09/2020 - 09:09
          +1

          Ah thanks for the pointer! I hadn't known that. Unfortunately it's past an hour and I can't revoke my vote:/

  • BartholemewH on 07/09/2020 - 15:19

    I intend to keep both of my personal cars indefinitely. One is a 1975 model that is considered desirable, the other is 2010 and the tide is changing on it as well. Both are laid up at the moment. My work car is 2017. If I change employers the 2010 model will be pressed back into service until my wife's car is replaced and I'll drive her old one.

  • CheeryCheapskate on 07/09/2020 - 16:38
    +1

    I have a 2006 Honda Jazz and I've never had any issues with it at all. Surprisingly I was expecting to change car every decade but it still goes well. I drive spot on the speed limits and defensively that the mechanic was surprised at the car's condition i.e. brakes looks like they never get used and acceleration is in good shape. It pays off not to neglect your vehicle and/or drive aggressively.

  • jmel on 07/09/2020 - 18:03
    +1

    i am keeping mine until electric car is affordable

  • Orico on 07/09/2020 - 18:44
    +2

    I just keep buying Toyotas. Had bad experiences with German cars.

  • [Deactivated] on 07/09/2020 - 19:17
    +2

    I am one of those who realise we are getting older each year. There are a handful of cars types that I have always wanted. If I think I have 30 years of driving life left, 5 years a car that will allow me to enjoy 6 new cars before I am too impaired to drive :)

    • prophet on 08/09/2020 - 09:10

      That's quite a thought. Though you could always rent a different car when you're on hols..

  • SlartiBartFozz on 07/09/2020 - 20:59

    Purchased new car 2 yrs ago, will keep it until it's 7-8yo, or until I can afford an electric car replacement, whichever comes first.

  • jonagrah on 08/09/2020 - 14:07
    +1

    I've never purchased a new car and likely never will.

    I bought a 5 year old car and plan to keep it until it's ateast 10 years old.

  • tazdevil76 on 08/09/2020 - 15:28
    +1

    Purchased a 2016 Ford Falcon G6E. For those who don't know, the Ford factory shut down in 2016 and I have one of the last Australian built Falcons which I will keep forever. It is not our daily drive therefore we can prolong its life.

  • Foxtail on 09/09/2020 - 09:28
    +3

    We change about each 4/5 years and buy Mercedes 4 years old for 1/3 of the new price and sell before 100k's are up. Current one a 2014 C class coupe, purchased 18 months ago for $24Ks, like new inside and out, one owner with logs, had just 58K's on clock, new was mid $60's.

  • Foxtail on 25/09/2020 - 11:06

    Keep mine about 3 to 4 years and sell before 100k's on clock. Current car purchased mid 2019 is a 2014 one owner Mercedes W204 Coupe with logs, 8 months rego and a mere 58K's on clock, so like new, suits two of us. Paid a mere $23,500, new car was about $65k, had no problems at all.

  • redvaldez on 25/09/2020 - 16:55
    +1

    Purchased a 2018 Mitsubishi Pajero Sport new a little over two years ago. I average about 20,000 km a year. Plan is to keep it until 10 years / 200,000 km and then make a decision from there. I might hang on to it beyond that or I might relegate it to bush-basher and buy a new sedan or SUV as a daily. I'm looking after it as if I'll have it for the long haul.

  • jsrz18 on 11/10/2020 - 09:16

    Plan on keeping my current 15 year old car for another 6 years. Will then upgrade and buy a newer car and keep it for 7 - 10 years. By 2040 I plan on having a more enthusiast oriented ICE car for the weekend, and an EV or a hybrid as a daily driver.

    • prophet on 11/10/2020 - 22:42

      That's pretty far ahead. California and UK already plan to ban new petrol/diesel cars by 2035.

      • jsrz18 on 11/10/2020 - 22:44

        yeah I like to think far ahead haha

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