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

  • Poor Ass on 05/07/2021 - 15:49
    +1

    it's not new after you buy it

    • cashless on 05/07/2021 - 15:54
      +1

      Exactly - old the moment you drive it off the forecourt

      • Poor Ass on 05/07/2021 - 16:07

        maybe it should be written like how long do you keep a YYYY built car

  • pilchard on 05/07/2021 - 15:55

    Until I can stomach dealing with cars sales people again.

    • DiscoJango on 05/07/2021 - 16:43

      if you know exactly what you want, theres nothing to deal with, they just need to sign the contract. if your completely clueless about cars and your requirements, thats when they can smell you from a mile away.

  • drprox on 05/07/2021 - 16:16
    +5

    I purchased my first new car at the start of the year - GR yaris. No regrets and hopefully with that Toyota reliability/build quality I'll have it forever.

    • meowsers on 05/07/2021 - 17:52
      +1

      I would just buy that and flip it in a year.

  • kanad on 05/07/2021 - 16:24

    Ordinarily I would say 10+ years, I traded my car after 12 years to buy a new one at the end of 2019.
    But this time I would say about 6 years before I sell, just as the warranty is going to expire and the reason is the next car I buy will be an EV. Don't want to wait too long for that.

  • Vool on 05/07/2021 - 17:45

    Until it's no longer fit for purpose. Would have kept my last car for a lot longer if someone didn't write it off.

  • Vote for Pedro on 05/07/2021 - 18:08

    Until the first major repair needed. It’s all downhill from there.

  • CalmLemons on 05/07/2021 - 18:19

    The only answer for ozbargain should be keep it until it dies.

  • Ramrunner on 05/07/2021 - 18:25

    Not really based on years.

    I try to generally as a rule of thumb keep a car for 20,000km per cylinder. That's only because I find that they tend to start costing me more money and drive more "tired" by then, I've been driving and had quite a few cars since 1990.

    So 80k for 4 cylinder
    120 for 6
    160 for 8

    I haven't owned a Bugatti Veyron but 320k for the 16 cylinders does sound a bit ludicrous lol.

    There are exceptions to the rule. My Nissan X-Trail still felt factory new almost in 2016 after I bought it in 2004. So I had that one for 12 years (Don't remember the km). It was cheap to service, and still felt really good to drive. It only had a crank angle sensor go in it. Nothing else.

    My 2c worth.

    Ed.

    • Dogsrule on 06/07/2021 - 11:09

      An interesting perspective, but an extremely conservative one these days I think. Most Japanese 4 cylinder engines have been able to hit 300,000km with nothing but fluid and filter changes for about 20 years now. The Toyota 1.3L & 1.5L NZ engines in the Yaris are notable examples. Here a couple that have hit 1 million kms:

      https://www.youtube.com/watch?v=HdJVKZupBd8
      https://www.youtube.com/watch?v=ljwUz7aE_JQ

      My own 2ZR-FE equipped Prius has done 330,000 trouble free k's so far. Oil, coolant and filter changes are all its had. Even on original brake pads! (regen braking helps).

      Each to their own of course, your experiences may have been different.

  • Franky23 on 05/07/2021 - 19:05

    I bought an old Mazda 626 as my first car. Paid 4.5k and sold 6 years later for 2.5k. So not a lot of depreciation, it was a nice car but I sold it at 220k and it was probably costing me 2k worth of repairs a year. From fuel pumps to corroding exhausts etc. I sold it because I felt like I was waiting for the next thing to go wrong.

    Bought a demo Skoda Octavia in 2009 and only just sold it this year with 300k and still driving beautifully. It was still on the original clutch. I saved a bomb on fuel with it being a diesel. It was surprisingly cheap to service through a trusted local independent mechanic. The only major repair in that time was a replacement turbo. I purchased it for the long game so I maintained it as such. I never thought I would buy a new car again but I did so again this year and hoping to have it for another 10-12 years. I feel this is the way to go with purchasing a new car. Maintain it well and have the peace of mind that you know it's been looked after as the original owner and very little will go wrong…
    unless you happen to purchase a 🍋 For which you'll be covered by warranty

    • SBOB on 05/07/2021 - 19:15

      but I did so again this year and hoping to have it for another 10-12 years.

      what did you get to replace the octavia?

      • Franky23 on 05/07/2021 - 19:26
        +1

        I bought another Skoda. Superb 140 tdi from Pickles auctions. It only had delivery kms on it.

        People complain about Euro cars however these are used as taxis in Europe and do huge kms. Using the highest quality fuel available (high sulfur content in Aus fuel) and servicing as per the books should see them go the distance. The NZ police have just started using Skoda's for their fleet.

        It's just a shame the new models are now a lot dearer than they once were.

        • SBOB on 05/07/2021 - 20:29

          Why was pickles selling a new car?

          Good choice though.

          • Franky23 on 05/07/2021 - 22:34

            @SBOB: Buy back from Skoda. They discontinued the diesels and pulled them from the lots. Skoda wanted to make some money back on them. I ended up with a 50k + spec car for much much less.

  • voo123 on 05/07/2021 - 19:08
    +2

    Brand new Merc with 5 years warranty, hence I will be keeping it for the next 5 years.

    Other car is honda accord euro. I will be keeping it until it dies.

    Different expectations for each car.

    • DiscoJango on 05/07/2021 - 20:09
      +1

      how good is the styling on the accord euro, 18 years old and still looks modern.

      • voo123 on 06/07/2021 - 00:05
        +2

        yeah i love it and it's feature packed for a car during its time. Wife wants me to sell it and upgrade to a newer car but I'm adamant on keeping it for as long as possible.

  • Ifndefx on 05/07/2021 - 20:48
    +4

    I love all of you 5 people who sell their car within 1-2 years. You are the reason I have car(s).

    Thank you.

  • Tiredman on 05/07/2021 - 20:58

    Always kept my car purchases to under 1-5% of my net worth. Don't like taking loans for it too. Keep at least 7 years.

  • Ekliptix on 05/07/2021 - 21:28

    I usually keep my cars for around 6 months to 2-3 years. I like performance cars and tend to change them depending on what suits my mood or interest. Last car was a GR Yaris that I preordered and owned for 5 months.

    For my wife's car and what is our general daily, usually 3-6 years depending on circumstances.

    • Franky23 on 05/07/2021 - 22:35

      Can I ask why you got rid of the Yaris?

      • Ekliptix on 05/07/2021 - 23:15
        +1

        I bought it because I loved the rally story behind its development and intended homologation, and its performance.

        With two young children though it was always likely to be temporary. I enjoyed owning it though and had fun with it. Sold it and have a 2021 I30N facelift in order. Should be a fun hot hatch and still have room for the kids, and be able to use it more in general than the Yaris.

        • Soothsayer on 06/07/2021 - 15:08

          If you got on the pre-order then I'm guessing you made a tidy profit as well, not bad for 5 months of fun!

          • Ekliptix on 08/07/2021 - 20:37

            @Soothsayer: Yeah I was lucky enough to make about $9k profit from it. Was never my intention, but a combination of getting the initial $40k deal, plus the Covid prices worked in my favour.

  • sathion on 05/07/2021 - 23:01

    Honda Jazz, bought it 3 years ago, will upgrade once the finance is paid off next year. I don't know a lot about second hand cars and most don't look like they've been looked after so I tend to stay away, but also from seeing friends having issues with their second hand cars over the last 10 years has put me off them.

    • Euphemistic on 06/07/2021 - 08:26
      +2

      Why upgrade so soon. Once it’s paid off drive it for a couple more years while saving for the next one to save a lot in finance.

      • sathion on 06/07/2021 - 14:12

        It's getting too small for our growing family.

    • DiscoJango on 06/07/2021 - 19:42

      if you can only afford cheap shitboxes like a honda jazz then yes that demographic probably wont look after their cars.

      • sathion on 07/07/2021 - 09:09

        Nice assumption that we couldn't afford something better than a new Honda Jazz, it was practical at the time, we've just outgrown it. We are looking at RAV 4 Cruiser hybrid, IZUSU MUX or Mitsubishi Prado at the moment.

        • Tsuivan on 07/07/2021 - 09:51

          Let us know once you find a Mitsubishi Prado for sale.

  • AGoodName on 06/07/2021 - 00:00

    Until it runs out of petrol, then back to the dealer for a new one. Driving is expensive

  • berger on 06/07/2021 - 09:03

    I’ve spent half my working life with company cars so average 5 years.

    Only my last car is over 6 years as I wanted something a bit better

  • SoapyWooder on 06/07/2021 - 09:16
    +1

    Bought a 13 yo car in 2007, used for 10 years then write off, so total car life = 23 years, paid $7,100. Original car price 23k.

    Bought an 8 yo car in 2017, still driving it & servicing myself, so 12 yo now, paid $7,500. Original car price 21k.

  • HeWhoKnows on 06/07/2021 - 09:19

    Between 1 and 15 years

  • pogichinoy on 06/07/2021 - 10:47

    Had a Honda CRV 2005 since new and sold it for a Toyota Prado.

    I like SUVs for the versatility.

    That CRV lasted 16 years.

  • Dogsrule on 06/07/2021 - 11:20

    2000 Toyota Camry V6 bought in 2004 when I got my license, drove till 2010 and sold with 350,000k's running perfectly, nothing spent but fluids, filters and brakes.

    2010 Toyota Prius bought new, now with 330,000k's. Drives great, nothing but fluid and filter changes. Original HV battery, even original brake pads! Probably gonna upgrade to a Tesla M3 in September when the EV incentives kick in.

    2006 Mitusbishi Colt bought new (Wife's car) and sold last year with 250,000k's running well, CVT getting a bit tired though. Again, only fluids, filters and brakes.

    2020 RAV4 Hybrid bought new (Wife's new car) Will keep for 10 years at least, then upgrade to EV.

  • mickyb80 on 06/07/2021 - 16:32

    Generally - finance for the period of warranty.
    e.g. Previously would purchase brand new with a 3yr warranty. Finance for the same length and list for sale 6 months out from end of cover (2.5yrs).
    In the most part, easy to calculate the cost of expenses.

    Now that most manufacturers offer min of 5 yr, holding current for 5yr. Yet, as perhaps one of the last dirty fuel burners and an AMG, I may just keep the latest in the garage for many many years to come…

  • nephilim on 06/07/2021 - 18:40

    Currently got 2 hatchbacks, but with a baby considering importing a new Toyota Noah hybrid (6 seater mini-van) for 35k.
    So 8 years is oldest car, with the covid crazy prices, still could get 6k for it (1/3 of its new value).

  • Hangryuman on 06/07/2021 - 18:59

    'How Long Do You Keep New A Car For?'

    I a don't a know - I a haven't a bought a new a car for a long a time.

    Only one I've had I kept 13 years.

    My current car I bought 12 years old in as new condition

    and have now had that for 18 years

    it's a good a one !

  • meatgasm on 06/07/2021 - 20:59

    1999 Subi GF8. Bought it at an acution a few years back. Gonna keep her till I can get a nice speedy second hand EV for ~$20k. So probably at least 10 more years

  • polarq on 06/07/2021 - 21:07

    Bit off topic here, but for those who recommend a used car, would you still do so in the current market for in-demand vehicles like Rav4 cruiser hybrid ? A year old or a couple of years old Rav4 are being sold for more than what they were sold for brand new! IT IS CRAZY. (Even my older 14+ yrs old toyota sedan is worth more than I bought it for)

    Rav4 2019: https://www.carsales.com.au/cars/details/2019-toyota-rav4-cr… : ~$55k
    Rav4 2019 https://www.carsales.com.au/cars/details/2019-toyota-rav4-cr… : ~$59k

    I am like what the hell is happening with used cars at the moment! I have always wanted to go for used cars for the value like a couple of years old to avoid depreciation, however at this rate, A brand new car would be actually cheaper! Only downside is the wait time which I think I will have to accept…

    • Dogsrule on 07/07/2021 - 14:13

      Hell no, we came to the same conclusion as you and just ordered new. Beautiful car btw, I recommend the Atomic Rush colour.

      • polarq on 07/07/2021 - 14:35

        Nice thanks! this market does not make sense at all. Glad to know that I am not the only one here considering/buying a new car considering the absurd second hand market.

  • meowsers on 06/07/2021 - 21:33
    +2

    The other thing you have to think about is safety. Cars that are new today won't be as safe as cars in 10 years. I value my families safety.

    Not sure why people are so proud of strapping their infants into 15 year old cars that they are driving until the wheels fall off.

  • jflcon88229 on 06/07/2021 - 22:07
    +2

    It was really interesting to read everyone's opinions and see the poll results.

    Today I said goodbye to my 2002 Mitsubishi Lancer, which I've had for the last 13 years. I've bought a Camry SX. First newish car I've owned in my life (technically used as it was a 2020 model with around 3000km on the clock) and the initial experience is surreal, though I'm sure that will wear off over time.

    Really impressed with the car, despite the fact that it is after all only a Camry. It is still a huge upgrade over my Lancer as there's nearly 20 years difference between the two cars.

    I'll be driving this until it dies, hopefully around 15 years.

    • Dogsrule on 07/07/2021 - 14:14
      +1

      Great car, did you get the hybrid? How much did you pay?

      • jflcon88229 on 11/07/2021 - 17:33
        +1

        Its a V6. Paid $41k - no idea if its a good price or not but I highly doubt it. I think all the new Camrys from 2021 are only hybrid.

        • Dogsrule on 11/07/2021 - 20:25

          Last of the V6's, nice. Good price too, enjoy your car!

  • Trioboy on 07/07/2021 - 08:37

    I still drive my 1993 corolla. still going ok.

  • chuie on 07/07/2021 - 09:21
    +3

    If you love the car and know a mechanic that can take care of it and won't price gouge you, own it until it dies.

    Even then, if your car happens to be a 90s JDM car and is appreciating in value, you can even replace the engine for $2-$3k and still come out on top!

    (I drive a 1991 MX-5)

    • Trioboy on 07/07/2021 - 16:03

      I sold my Supra for like 12k :(

  • bobolo on 07/07/2021 - 10:25

    I change cars frequently (sometimes within 6 months) because its my hobby and passion. I usually profit on them or at the very least break even, through a combination of negotiating the right deal, the right car and buying/selling in the right market.

    The car that has cost me the most in depreciation is my daily runabout I've had for over 5 years (Kia)

  • Praeto on 07/07/2021 - 10:41
    +1

    I'm heavily modifying any car I buy, so I'll keep it until it's not financially viable to keep repairing it any longer.. Then I'll take all my mods off and sell whats left.

  • striker5950 on 07/07/2021 - 12:07

    model 3 performance (once they fix the all the quirks)

  • mreddie on 07/07/2021 - 13:31

    Still driving a '98 Maxima

  • Exec-Matrix on 07/07/2021 - 18:26

    I've wasted so much on cars it's ridiculous..I sold 2 cars I was in debt for and bought a 2001 Mercedes E320 for $3000 at the end of 2018 and its been flawless. There is nothing I want for at the moment, has more features than cars I've owned before that. It's good to have extra $$$ in the pocket.

  • HKS on 07/07/2021 - 19:23

    well i usually run things into the ground then fix it up but the last "new car" i bought i had for 2 years. i liked it at first then hated everything about it. i stick with cars made before my birth date now & started buying motorbikes instead.

  • mousie on 08/07/2021 - 21:10
    +1

    I buy 3 year old cars with an intention to keep them for 5 and mostly fleet cars. In a Nissan Altima at the moment and happy to keep smashing the mortgage.

  • Yaren24 on 08/07/2021 - 23:38

    Wondering how can people afford new cars every few year, they must be wealthy!

    • Exec-Matrix on 10/07/2021 - 15:05

      Or happy to be in debt.. Have a mate who racked up consecutive debt trading cars, losing money etc etc and now has a 50k personal loan to consolidate all. Sad

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