It’s normal for many new car buyers to fall out of love with their vehicles once the honeymoon is over and the thrill is gone, though the majority stick with their vehicles for the long haul — well, until the lease period is up, anyway.
The jilted romantics will run to tell Consumer Reports and anyone else in their immediate vicinity about how unsatisfied they are with their car’s finicky infotainment unit and herky-jerky transmission, but their complaints fail to shed any light on costs. Initial quality and customer satisfaction are nice things, but what about the impact on the buyer’s wallet over time?
Kelley Blue Book can provide some advice, as it tallies up the top brands and models based on ownership costs over a five-year period. (Read More…)
That moment you realize the oldest car in the parking lot is yours.
Yeah, I just had that moment.
The car in question is a 2001 Honda Accord EX. Four-door. Five-speed. A dodo bird of a used car stuck in today’s finance driven market. I walked around the parking lot you see above trying to find one vehicle, any vehicle, that’s as old as mine.
The blue ’05-ish Caravan on the bottom left came a bit close, but it didn’t happen. Instead, everything else seemed to be on the younger side of the curve, the overwhelming majority of vehicles sold new at a later time in history.
$150 a week.
For some folks, this is a mere pittance. A lunch for four at a fancy restaurant that can be easily charged off to Uncle Sam and his seventeen trillion dollar debit card.
For others, it’s the beginning of a barnacle that will likely outlast their ability to pay it.
They will flex their muscles and run while they can. Then once they trip, due to a lost job or a family emergency, they will pick up an even heavier barnacle, with four wheels on it, and keep running.
It’s a vicious cycle of poverty. Where the poor always stay poor. After witnessing this cycle of automotive indebtitude for years on end, I’ve come to blame one solitary thing.
Whether you drive a $30,000 or a $1,500 a car, one variable in life stays constant.
You want to minimize your costs.