How Long Do You Keep New A Car For?

Ljflcon88229 on 04/07/2021 - 18:26
Last edited 04/07/2021 - 18:27

Will be buying my first new car towards the end of the year and was curious as to around how long people typically drive a new car that they paid with their own cash or financed (i.e. not leasing)?

Many people in my neighbourhood bought a new car in the past year or so and these people usually have them for 12 or so years, or in some cases, until the car dies. Up until a few years ago, you would still find cars from the early 90s parked on the streets and in driveways in my neighbourhood. I have a few friends on the other hand that change their car every 5 years (which to me doesn't really seem worth it?)

Personally would keep for at least 10 years but interested to hear what other people usually do.

Poll Options

  • 19
    Less Than A Year
  • 8
    1 - 2 Years
  • 172
    3 - 5 Years
  • 56
    6 - 8 Years
  • 204
    8 - 10 Years
  • 48
    10 - 12 Years
  • 46
    13 - 15 Years
  • 363
    Until It Dies
Automotive Car

Comments

    • kiitos on 05/07/2021 - 08:18

      How does servicing work, will it always be serviced at a dealer?

      • Platinumtelecom on 05/07/2021 - 08:23
        +1

        Yes with HelloCars you have to take it to their preferred dealership (may be different with Subaru).

        With Carbar, they can come and pick up the car from your home or workplace and return it to you same day when service is done

        • BillyG687 on 05/07/2021 - 11:08
          +12

          This feels super sketchy like a sock puppet set of comments. Way too informative and excited haha

          • Platinumtelecom on 05/07/2021 - 11:11
            +1

            @BillyG687: I like to be informed before I make decisions…not sure what is sketchy about this. I have researched Hellocars, Carbar and Carly thoroughly before deciding.

            If you look through my comments history, you will find that I had a Renault Kangoo purchased last year and I just sold it

            • gromit on 05/07/2021 - 23:34
              +2

              @Platinumtelecom: Interesting, when I did the maths These services were a huge premium to buying/leasing myself, certainly more than I could justify to myself for convenience I guess different people different priorities.

          • meowsers on 05/07/2021 - 12:11

            @BillyG687: Nah this is just the genius nature of car subscriptions. You can also tax deduct these as an expense and it is just a line item rather than a car. Basically a fully maintained lease with a 2 week notice period.

    • Caped Baldy on 05/07/2021 - 11:21
      +2

      So how much does that cost you?

      • Platinumtelecom on 05/07/2021 - 12:16

        $450pw. It’s a little more than it would cost me to purchase, but for me it’s the convenience also.

        I also know that a $50-60k loan may affect how much you can borrow on a home loan, in my case, I have zero loan but still have a brand new car. I am not sure yet what type of impact the subscription would have on a home loan approval.

        • surg3on on 05/07/2021 - 12:34
          +8

          The subscription would have a 23,400 per year expense on your home loan approval. A LITTLE more than cost to purchase? I think you mean a LOT more.

          • Platinumtelecom on 06/07/2021 - 08:10
            +1

            @surg3on: $55,000 car
            Loan over 3yrs = $61,500
            So $20,500 + insurance + rego + servicing + roadside (if not included)

            Let’s say $22,000 per year to purchase

            The car after 3 years and 150,000kms would be worth about $23,000

            So it’s costing me roughly $8000 more per year than buying it.

            This is clearly not something most people could justify, but I am happy to pay the premium and not worry about anything.

            • Chandler on 06/07/2021 - 10:28
              +6

              @Platinumtelecom: I think @surg3on's issue is this:

              Purchase = pay $66,000 over 3 years, own $23,000 asset.

              Subscription = pay $70,200 over 3 years; own nothing.

              $4,200 more for nothing; obviously ignoring the time involved in owning/maintaining a vehicle, or the ability to change cars at a whim (essentially)

              • Euphemistic on 06/07/2021 - 10:58

                @Chandler: It’s like the old line we were spun at work. “A Company car is worth $15k a year to you”. Yeah, but if I leave the job I get none of that and probably have to buy a car.

                I put off buying a car for a couple of years when I left, but could have done with the extra cash to put toward running a car and having some sort of asset to show for it.

    • meowsers on 05/07/2021 - 12:09
      +1

      These will be the wave of the future tbh. Lots of car companies are directly getting into the car subscription market on a low key way.

      • 91rs on 05/07/2021 - 13:30
        +6

        Might be ok for very few but the wider issue with everything being turned into a subscription base is that people never own anything and fork out all their cash for it.
        I'm sick to death of subscriptions for everything, I'd rather pay and own and then change or upgrade when I want.
        Its a bad dependency that people are not fully aware of and its why so many have no money to save or spend as everything they earn goes on subscriptions to crap!

        • meowsers on 05/07/2021 - 14:02

          Yeah I can totally see your point. I guess it's how you account for things, most things (cars, consumer goods etc) we own loses value every day we own it. Of course if you never want to sell it, I guess it doesn't matter.

          You can either lose the money slowly, in a known way or all at once when you sell it. I prefer just to know exactly what something will cost, and having the luxury of being able to nope out at any moment with 2 weeks notice is nice.

          • gromit on 06/07/2021 - 12:36
            +1

            @meowsers: The problem is with these current crop of subscription cars you are losing a LOT more over the life of the car in exchange for the convenience. Their is definitely a market for that, but I don't think it is huge or the way of the future. Very few will be willing to take such a large price hit for that convenience.

            • Chandler on 06/07/2021 - 12:45

              @gromit:

              Very few will be willing to take such a large price hit for that convenience.

              @ $450 per week, I agree with you there.

              But if they get that price down to below what a loan repayment would be, I can see it being (more) successful.

              • gromit on 06/07/2021 - 12:47

                @Chandler: I think the point of these if for them to make money from the service and convenience, not to subsidize buyers. If they wanted to do that they could just offer vendor discounts on leasing for far less hassle.

                • meowsers on 06/07/2021 - 12:58

                  @gromit: The way they do it is this. Subaru owns these vehicles and therefor gets them at cost or near to cost. The vehicles are rented out increasing the registrations on that model Subaru — helping their sales stats. Because they replaced every 6 months, subaru then onsells those vehicles to folks like the ones who only buy second hand cars for near new retail price - sold as "executive cars". But since they own the factory etc, the true cost to them is nothing and they are probably still profiting.

                  Benefits for Subaru:

                  1) increased registration data for australian car sales

                  2) can turn over cars with profit because they get them at cost to begin with.

                  • gromit on 06/07/2021 - 13:01
                    +1

                    @meowsers: But that isn't what they do. They are renting them at a huge markup to RRP. All financial benefits are going to Subaru. This is a fantastic business model for them, but it is VERY expensive for the buyer. I just don't see them cutting their profits just to get numbers up, especially in such a small market as Australia.

                    • meowsers on 06/07/2021 - 13:05

                      @gromit: Let's do some calculations then:

                      2021 Subaru Forester 2.5i-L

                      $302 per week with 650km/ week (33,800km) a year
                      - all inclusive

                      $15,704 a year. Get a new car every 6 months.

                      I'm guessing a new Forester would cost and depreciate at least that much in the first year as it is.
                      This isn't even including maintenance, rego, stamp duty or insurance.

                      Lets say 1000 off for insurance, 700 for rego. Now you're looking at $14000 - not including depreciation or stamp duty for that vehicle. Nor does it include loan expenses.

                      That car is 41654 driveaway. With depreciation you are looking at about $10,000 in a year.

                      This also doesn't assume you can literally give the car back with 2 weeks notice and get another one. Or just wash your hands of it.

                      I wouldn't say the markup is huge.

                      Carbar rents out brand new Audi Q5s for $369 a week. That's an even better bargain.

                      • gromit on 06/07/2021 - 13:16
                        +1

                        @meowsers: you are paying around a 15% premium for the service and no that audi deal isn't good either. it is a similar premium.

                        edit: when I say it is not good I only mean in comparison to RRP and what you could get independently. obviously if you are doing these you do it for the convenience not for the price which is fine.

                        • meowsers on 06/07/2021 - 13:21
                          +1

                          @gromit: The advantage I mentioned before which you don't seem to understand is the ability to walk away at any time, and known fixed costs.
                          There is no administrative time spent on anything and it's turnkey.

                          Your time may not matter much, but it's nice not to have to worry about selling a vehicle, buying one or maintaining it.

                          The ability to tax-deduct the entire thing as one line item cannot be overstated. No record keeping and no hassle.

                          • gromit on 06/07/2021 - 13:28
                            +1

                            @meowsers: I fully understand that, those are convenience options and perfectly valid reason to do this, however you are paying a premium for that convenience. My time matters a lot and I factor it in to these calculations, I defintiely would not pay 15% more for a car to save an hour or so a month for the reduced admin costs.

                          • Chandler on 06/07/2021 - 13:50

                            @meowsers: For a business, 100% agree.

                            For an individual… whether you've got the money or not: as you say, it depends on how much you value your time.

            • Vote for Pedro on 07/07/2021 - 09:42

              @gromit: I think the market for these co’s is in the people that want to drive a nice car but cant afford the loan or the car. Anyone who has the money isn’t going to care about the subscription.

              The convenience is what? Arranging rego, insurance and servicing? Well, you still have to take these for a service. They don’t magically get there themselves.

              Arranging rego on a car less than 5 years old is about 20 minutes online and insurance is find a company and renew yearly.

        • pharkurnell on 07/07/2021 - 10:39
          +1

          I'm sick to death of subscriptions for everything, I'd rather pay and own and then change or upgrade when I want.

          Agree 100%

    • 22slurpee on 05/07/2021 - 12:29
      +3

      @ VoIP Smart, something doesnt add up.
      Cheapest price for Subaru outback for the Km you're doing = 302/week, = $15,704/year

      gives you 650*52km=33,800km.

      Then you pay $0.33/km for 16,200km to get you your 50,000km you say you do /year. = $5346

      total cost =$21,050

      or

      buy Subaru outback for $44,268 driveaway cheapest model (postcode 4000)
      insurance and maintenance for 1 year $3000 (generous) = $47,268 sell for 35,000 (cheapest outback from 2019-2021 on carsaels.com.au)
      total cost=$12,268

      ???

      • meowsers on 05/07/2021 - 12:35
        +2

        The problem becomes owning a vehicle and disposing of that vehicle leaves you with more unknowns.

        With my business I know what it will cost me and I know that the ATO won’t ask for logbooks or anything else because it’s not a car — it’s a business expense. The certainty is worth it.

        I don’t own the car and I don’t have to do deductions for maintenance or Km or anything. I just write it all off. From our accountants side and from the ATO side it’s much easier because it’s just in the same category as mobile phone service or a photocopier.

        • 22slurpee on 05/07/2021 - 12:37

          yep, i didn't incorporate interest paid on loan either, plus the repayments which would be about $3868 /month if loan only for a year (@10%)

      • Platinumtelecom on 05/07/2021 - 12:36

        So a couple of things to consider

        This is a Subaru Outback 2021 touring. Last time I checked it was around $55k.

        If I sell after a year, the car will have 50,000kms, I believe I would get about $40k for it.

        Also servicing I believe would be required twice for 50,000kms so about $700.

        So about $18,500 cost. Also this is for a cash purchase. With a loan there would be interest.

        So yes cheaper to buy, of course otherwise they wouldn’t make money. But there is the convenience I am happy to pay extra for

        • 22slurpee on 05/07/2021 - 12:46
          +1

          yep, the loan cost is a big factor

    • Vote for Pedro on 05/07/2021 - 18:18

      Their comparison tool is dodgy AF. Weekly cost calculation for own car includes stamp duty. It’s not spread like the other costs. I don’t pay stamp duty every week. Its a once off

      • meowsers on 06/07/2021 - 10:03

        It's not really dodgy. It's spreading the cost of stamp duty over the period of owning the vehicle. You don't pay it every week but it needs to be listed as weekly because you're not paying a subscription once off.

        The stamp duty is spread out over the average lifetime of the car.

        • Vote for Pedro on 06/07/2021 - 16:38

          For an $18000 car it lists my weekly ownership costs as $484 vs $119 for subscription. That is misleading and dodgy AF. See below:

          How do we calculate this?
          Using the figures you have provided, HelloCars has calculated the costs and out-of-pocket expenses involved with owning a car as a weekly average and how that might compare to subscribing to a similar car instead. The below figures show the apportioned weekly costs associated with purchasing and running a vehicle based on AAA figures.

          Purchase Costs & Stamp Duty
          $357

          Interest Fees & Loan Repayments
          $0

          Depreciation
          $38

          Registration, Insurance & Maintenance
          $89

          According to their figures, an $18000 car costs $25k per year.

          • meowsers on 06/07/2021 - 19:48

            @Vote for Pedro: Yeah I’m getting $10 on their calculator for that field. I think you’re doing something wrong.

            Their explanation is here below btw

            This calculator is not intended to be a financial tool. The output or result of this calculator is subject to assumptions which are subject to change. The output or result of this calculator does not represent either a quote or guarantee. You should consider if this product is right for you. For the purpose of this calculator, we consider the Weekly Subscription Cost to be $119 or 0.6% of the Total Purchase Price, whichever is greater. Purchase Costs include Stamp Duty calculated as 3% of the Purchase Price. Interest Fees include establishment and yearly account fees of $500. Residual Car Value represents the equity remaining in the vehicle once depreciation and outstanding loan amount are considered. Ownership Costs such as registration, CTP insurance, comprehensive insurance, roadside assistance and scheduled servicing are calculated using national yearly averages for capital cities based on the Transport Affordability Index provided by the Australian Automobile Association (AAA). Vehicle Usage is indicative of the flexibility of car subscription, fees may apply if you return your vehicle before the minimum required term. Some costs such as fuel and tolls are not considered as these remain unchanged for both ownership or subscription.

            • Vote for Pedro on 06/07/2021 - 21:05

              @meowsers: Yeah, for sure, the end user is doing something wrong.

              But also, not sure where they get $89 a week for insurance, rego and maintenance. That’s $4628 per year. That’s ridiculously high estimates. I have insurance, rego, roadside assist. Let’s be generous and say those 3 are $2000. There are zero chances i am spending $2628 on maintenance.

              They can have all the disclaimers they like, it smells.

              I get they are trying to justify their business and make it look like a viable option. I get that, but, you know what they say… walks like a duck…

              Also, don’t forget to click on ‘associated’.

              • meowsers on 06/07/2021 - 21:21
                -1

                @Vote for Pedro: Don’t worry I’m not associated, it just irritates me when people who have no clue start spouting off nonsense.

                If you would literally read it it would explain it.

                From their website:
                "Ownership Costs such as registration, CTP insurance, comprehensive insurance, roadside assistance and scheduled servicing are calculated using national yearly averages for capital cities based on the Transport Affordability Index provided by the Australian Automobile Association (AAA)."

                https://www.whichcar.com.au/car-news/aaa-transport-affordabi…

                https://data.aaa.asn.au/transport-affordability/ <- go here and review each category. Now tell me again I'm wrong.

                Rego CTP / Licence - $1,557 a year
                Insurance average - $1,423 a year
                Servicing average $1,586 a year
                Road side assistance $109 a year

                Total = $4675 A YEAR or $89.90 a week

                You do realise maintenance includes oil changes, tyres, wipers, brakes etc. Whether or not you do them that year or not. It's an average.

                • Vote for Pedro on 06/07/2021 - 22:04

                  @meowsers: Those figures are crap. Remember we’re talking about a small/compact car circa $18,000

                  Rego/ctp is $800
                  Comprehensive Insurance is $650 -$1000
                  Roadside we agree.

                  Servicing on a new car is usually a set fee. Mine was $190 twice per year, but lets be generous and call it $1000 per year.

                  How do i know? That’s what I pay. So as much as you want to defend them, it’s a duck.

                  • meowsers on 06/07/2021 - 22:10

                    @Vote for Pedro: I’m not really sure how else you would expect them to substantiate expenses?

                    A respected industry body with large scale statistics? Nah let’s go with your anecdotes.

                    • Vote for Pedro on 07/07/2021 - 07:44

                      @meowsers: Yeah. Let’s go with whatever makes the business model look good.

                      I would expect them not to provide a calculator that doesn’t paint a true picture and then hide behind pages of disclaimers.

                      Also, you do know the meaning of anecdotal?

                      Actual expenses are not anecdotes.

                      For an $18000 compact car

                      Rego/ctp = $800 in nsw
                      Comprehensive insurance = $650 for me
                      Roadside = $120
                      Servicing = $380 per annum (fixed for 3 years)

                      Total = $1950. Far cry from the figure of $4600 they’re using

  • Euphemistic on 04/07/2021 - 21:36
    +1

    I plan to keep a car until it dies, but things change. I don’t buy new though.

    Reasons I have changed, in no particular order:
    Wanted a 4wd
    4wd wasn’t great commuting on the freeway
    Wanted a classic car.
    Used too much fuel/wasn’t getting used.
    Car too small for family.
    Wanted a ute.
    Wanted airbags/abs
    Bought a car that was renowned for poor reliability (everyone else was finding not at the same time)

  • Waltervp on 05/07/2021 - 08:39
    +11

    I think cars change too much every year with technology and safety. And like clothing we also go through different phases/needs. If you spend 35k and drive for 10yrs and end up with a 5k car, you essentially paid $3kpa to own it and to get another new car you need to somehow find 35k again for another new one …. It's a lot nicer to buy a 3-5 yr old one at 20k, sell it 3yrs later for 15k, find another 5k and buy another 3-5yr old car. That way you always get pretty modern cars to drive and never need to find large $$$ to renew. Plus the added advantage you can buy tested and reviewed cars, even with a track record (if car comes with good records) and not gamble on some new model with no track record. Those benefits well outweigh warranty, fixed servicing and other offers.

    • DiscoJango on 05/07/2021 - 12:34

      not sure why you got negged, this is pretty much what i do. i can get a 5 year old fully optioned lexus for a lot less than you would think it should cost, whilst also being a hell of lot more vehicle than any similarly priced nissan, mitsubishi etc

    • hothed on 05/07/2021 - 17:58
      +2

      When you dont hold cars as long, as is what you're describing, you incur more transaction costs.
      eg.

      RWC $250 (on the car you sold)
      Transfer fee $40
      Stamp duty $1,470 ($35,000 / $200 * $8.40)

      https://www.vicroads.vic.gov.au/registration/registration-fe…

    • furyou on 06/07/2021 - 13:38

      Good idea, but personally just don't know enough about cars to check if I get a lemon.
      How would I do this safely?

  • Drumadd on 05/07/2021 - 09:01
    +1

    Don’t buy brand new. Buy up to one year old low mileage (5,000km), still under full warranty. Why pay all the tax on a new car and lose it and the depreciation the moment you drive off the forecourt? Best option, personal lease and change it annually/biannually. You’ve then always got a new car. Do the sums!

    • netjock on 05/07/2021 - 14:00
      +3

      Only in 2020 / 21 when buying a new car could be cheaper than an old car.

      But you are right. I bought a 9 month old car that lost $20k from the purchase price (rare car that is unloved but been reliable for the last 16 years).

  • afah0447 on 05/07/2021 - 09:22
    +1

    The question shouldn't be time but kilometres. Ideal to swap a car out between 60,000km to 80,000km if you like getting new ones regularly.

  • Lurk Hartog on 05/07/2021 - 09:30

    I've never bought a new car before.

  • GeoffP on 05/07/2021 - 09:47
    +2

    I bought my Falcon in 2009, was 18 months old with 60k kms, for $13k. Now has 450k kms, still using 5w-30 oil and doesn't burn any between 15k oil changes. Plan to keep until it becomes unreliable, which I hope is at least another 50k, got to hit the 1/2 million :)

    • BartholemewH on 05/07/2021 - 12:12

      Is it a ZF 6 speed auto?

      • GeoffP on 12/07/2021 - 09:49

        No just the standard 4sp. Needed a rebuild at 180k when the cooler failed and filled it with coolant. Added an external cooler and has been fine since.

    • meowsers on 05/07/2021 - 12:36

      I’m sure you’re not one of them, but why do most people with falcons always drive like absolute tools? It’s always the green sparkly ones too.

      • GeoffP on 12/07/2021 - 09:53

        I'm too old for that :)

  • Shpox on 05/07/2021 - 10:07
    +2

    Honda Accord, always serviced by me, comfortable, quality. It's reaching the 12 year mark and has 130k which is baby years for a K24 apparently.
    I can't see a reason to upgrade it given the current market, and would rather put the money towards a house deposit.

    While I was a car guy, I can't help but feel as I've matured, there's not much point in going 0-60 as fast as I can. My next car will be something that can do it all, go on dirt roads, beach, camp. Triton + 10k worth of upgrades or just a Hilux.

    • Euphemistic on 05/07/2021 - 12:02
      +1

      Or save the $10k for fuel and camping gear and don’t upgrade.

      • Shpox on 05/07/2021 - 22:26

        Good point! 10k worth of experiences :)

    • Fobsessive on 05/07/2021 - 13:49

      Euro or US Accord?

      • Shpox on 05/07/2021 - 22:26
        +1

        CP2 so non-euro unfortunetly. Last of the great Euros were 2008-2012!

    • ronitdias on 05/07/2021 - 14:58

      Since you've mentioned Accord, I wanted to ask. I saw a 2011 Honda Accord Euro Luxury that's done 165k for $10K with rego paid upto Dec. I felt given the KMs the asking price is a bit too high? Wondering what your take on this is.

      • voo123 on 05/07/2021 - 19:13
        +3

        Decent price. I got a 2008 accord euro and they're classics. The last japan made model in the honda lineup.

      • Shpox on 05/07/2021 - 22:28
        +1

        Pretty good price, if it's been serviced regularly, that's not very much for a Honda at all.
        Check to see if has the Spark Knock issue which some of the Euro's did have, but other than that, these well and truly make it into the 300K mark.

        It's a lot of car for 10K. You cannot compare them to things like Commodores.

        • voo123 on 06/07/2021 - 00:08
          +1

          Yeah mine is at 240k atm and needs to be serviced every 6months as per requirements, but it is feature packed for a car during its time.

          • ronitdias on 09/07/2021 - 20:36

            @voo123: How much does a service cost on average? And where do you get it serviced private or franchise (also, if in Melbourne where?)

        • ronitdias on 06/07/2021 - 08:11

          Awesome, that a good feedback. I thought I was being a bit pessimistic but after reading these comments, I'm gonna go check it out.

      • imurgod on 06/07/2021 - 09:29
        +1

        Good car. They can do a lot of KM.

  • JIMB0 on 05/07/2021 - 10:09

    Until 2 or more wheels fall off.

  • redvaldez on 05/07/2021 - 10:14

    Historically, I've tended to change cars every 5 years. I bought my first new car about 3 years ago though. Plan is to keep that it until I hit 200,000 km, which should be another 7 years off. Depending on how reliable it proves and what else is around at the time, I'll decide whether to keep going or to upgrade. Poured a bit of money into accessories and upgrades (4WD) which is more reason to keep it longer and to get my money's worth out of it.

  • thardy456 on 05/07/2021 - 10:53
    +3

    I'd never purchased a new car until my Tesla M3 about 6 weeks back. Very little price difference with 2nd hand M3's because they are so new to the market. Normally always just buy 3 plus year old cars to avoid the initial depreciation. I've been wanting a longer range EV for about 5 plus years so finally bit the bullet. I'll probably keep this for 10 plus years, especially as EV's have very little maintenance and low running cost.

    • Caped Baldy on 05/07/2021 - 11:21
      +3

      You'll have to replace the batteries eventually as they'll wear and hold less charge.

      • meowsers on 05/07/2021 - 13:11
        +6

        People always say this somehow to neg electric vehicles. Tesla’s have an 8 year 192,000 km warranty on the battery.

        I don’t know about you but I don’t plan on keeping a car that long.

        • Caped Baldy on 05/07/2021 - 13:17
          +1

          Neither would I but OP said he'd keep for 10+ years and pretty easy to do 20k kms a year.

          I think the million km battery Telsa is working on has lots of potential though.

      • Drakesy on 06/07/2021 - 16:37
        +1

        @Caped Baldy. That's the classic conservative stance

        See Here

        10% degradation over 400,000km's
        I wouldn't worry too much about the battery life given most people aren't going to get to that many k's within the lifetime of the car.

        Tesla's battery technology seems to hold up much better than competitors and is nowhere near the degradation experienced on a mobile phone.

        • Caped Baldy on 06/07/2021 - 18:54

          That's good to know. Weird the headline was about one set of break pads

    • Cheeper on 05/07/2021 - 12:40

      EV is fine if you dont leave the city.

      • derrida derider on 06/07/2021 - 13:09
        +1

        Another EV myth, like the battery degradation one. Unless you live in the bush range anxiety is no longer a big problem, and is anyway becoming ever less of one each year.

  • stuckster on 05/07/2021 - 11:15
    +1

    Don't buy new. Buy 12 months old with 5,000-10,000km and still has 5-7 year warranty. Sell just before warranty expires. Rinse, repeat.

  • Jamesrulez1 on 05/07/2021 - 11:31
    +2

    My parents will drive a car till it's undriveable but personally I like swapping every 2 years. This is only because new cars have warranty/free servicing and you can get absolute bargains if you wait for the right time / model to the point where depreciation is minimal. E.g. I'm paying 1-2k on depreciation per year on a new Merc because I got it 20% off.

    • Harold Halfprice on 05/07/2021 - 20:45
      +1

      Which new cars come with "free servicing"?

      Which Merc did you buy that only depreciates 1-2k per year?

      I'm honestly very curious…. because that doesn't sound like the reality I've been living in

      • Jamesrulez1 on 06/07/2021 - 11:52

        If you work at any corporate institution you receive 3 years of free servicing and repairs. (google Mercedes-Benz Corporate Programme Brochure)

        Fully optioned brand new A250 4Matic. I got it at 20% off which is less than what 1 - 2 year old ones are being sold for right now.

        This was the same with my brand new Lexus NX fully optioned I purchased in the same year (also 20% off) with free servicing and warranty. There might even be a chance I sell it for a slight profit but i don't know how much the new facelift 2022 model will affect the pre facelift ones.

        It really depends on the model e.g. the CLA series is basically all sold out at the moment which leads to very little room for negotiation but the A class and C class (pre-facelift) are ones where you can easily get 20% off.

        • voo123 on 07/07/2021 - 17:04

          I don't believe Mercedes offer the free servicing with corporate programme anymore. I bought mine earlier this year (Mar 21) and only got $1500 discount off the price.

  • casho on 05/07/2021 - 11:55

    I'd never buy new

  • Cheeper on 05/07/2021 - 12:37
    +1

    Bought my current new car with the intention of keeping it for 5 yrs. Past 9 yrs now and don't want to part with it, still like new. That's Toyotas for ya :-)

  • Oz em on 05/07/2021 - 13:08

    Brand new car 10 years ago. It needs a few repairs but should keep going another 5 without issues.

  • cybapete on 05/07/2021 - 13:12

    the choice is either trade it in after 1-3 years when you will still get top dollar for it or keep it for ten years and just drive it into the ground until repairs get too dear

  • Fobsessive on 05/07/2021 - 13:48
    +1

    I put performance mods on my car when it was 14. Still running at 16. K24 Honda life.

  • netjock on 05/07/2021 - 14:02
    +1

    If you got a reliable drive it until it dies.

    Part of the secret to a long life even for petrol cars is giving it a good hour or two on the freeways once a month. Burns off all the moisture in the engine oils.

  • Big Lenny on 05/07/2021 - 14:16
    +1

    bought brand new subaru XV 2018 model in 2018 for $35k

    sold 2021 march $33k

    not bhed

    • Shpox on 05/07/2021 - 22:31
      +1

      winning my dude

  • Gaz1 on 05/07/2021 - 14:57
    -1

    I wonder if anyone has looked into the environmental damage caused by changing cars too often.
    Also getting rid of a perfectly good car to change to electric.
    I mean the overall picture of the whole production process for the new car, shipping, disposal of old cars, etc.
    There must be a pay back period where the envronmental issues with production of a new car (and batteries if electric) must offset the damage in just keeping your old car.

    • s1Lence on 05/07/2021 - 23:18

      Do you think people factor in the environment when buying a car?

    • Dogsrule on 06/07/2021 - 10:57
      +1

      I've never understood this logic. A working car has monetary and utility value and is onsold to somebody else after the owner is finished with it. They don't get disposed of until they completely fail or become financially unviable to keep running.

      • derrida derider on 06/07/2021 - 13:11
        +1

        Yep, Gaz1 is only right if you're just sending a perfectly good car to the wreckers.

        • Dogsrule on 06/07/2021 - 13:43

          Exactly, and who does that? The average vehicle age in Aus has stayed at about 10 years for ages now, with an average disposal age of about 15 years from memory. People simply aren't buying new cars more often and crushing perfectly good cars. Even countries with very strict vehicle registration rules like Japan export their non-complying vehicles to countries like NZ where they live a long second life:

          https://www.newsroom.co.nz/where-dangerous-cars-go-to-die

  • zah on 05/07/2021 - 15:10

    Bought a year old i30 Go in late 2019, and plan to keep it until 2030 at least, unless something unexpected happens like a write off in an accident. It's a reliable car and doesn't cost much to run and maintain.

  • jv on 05/07/2021 - 15:11
    +6

    How Long Do You Keep New A Car For?

    Until I sell it.

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