Your personal automotive purchase strategy

"and 100 more" (nth256)
12/28/2016 at 17:17 • Filed to: None

Clue me in, Oppo - what is your personal automotive purchase strategy, especially when you are purchasing on an as-need basis (as opposed to picking up a project/toy/weekend car)?

Do you buy a car with the intent of owning as long as possible, driving it until repairs become impossible/extremely cost prohibitive? That’s been my tactic since I bought my first car.

But lately, I’m wondering if it’s not more beneficial to purchase a vehicle with an intended exit date - “I will only own this car for two years, then trade it in.” Anyone do this regularly?

Got another strategy that you use?

Something practical for your time:

DISCUSSION (26)

That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms > and 100 more
12/28/2016 at 17:21

I have a history that says I keep cars for, on average, six months. Because of that, the number one rule for me is resale value: in six months, can I get my money back or even make a few dollars if the car is basically trouble free. I don’t buy new cars, or even expensive used ones...I tend to play in the under-$10k playground, and I usually do well when I don’t let my heart run the purchase.

When I do let my heart run the purchase, I lose thousands of dollars.

and 100 more > That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms
12/28/2016 at 17:28

Yeah, don’t think I could work on such a short timeframe. That said, I have never considered resale value in any of my previous purchases - I figure I’m luck to get anything back once I’m ready for trade-in. I’m beginning to wonder if that’s not a losing strategy for me.

Logansteno: Bought a VW? > and 100 more
12/28/2016 at 17:34

Mine is apparently buy something and totally ignore everything you dislike and then hate it within 6 months and want to sell it.

Or buy clapped out version of your dream car, fix it up, and then sell if for stupid reasons.

Those are my two strategies so far. Im excellent at buying cars.

Wobbles the Mind > and 100 more
12/28/2016 at 17:35

I honestly buy what makes me happy and keep until it doesn’t. I figure you can’t predict what will happen so make sure you at least have a smile on your face. Usually finances and inconveniences are what change hearts so if you protect against those two (whatever your tolerance level may be) then there is nothing much left to be concerned over.

Urambo Tauro > and 100 more
12/28/2016 at 17:58

I never really had a strategy. I swapped my first car (a Suburban) for a nearly identical version in better shape, and with 4WD. But after that, my cars would be replaced when they became too expensive to keep around.

I went through a few cars like that until I became a car guy and started doing my own wrenching. Turns out, you can keep a car around for quite a while when you don’t have to pay someone else labor to keep it running. I found myself behind the wheel of Mustang and soon picked up a cheap second car, so that I would always have transportation even if I was in the middle of a wrenching project.

That second car was a ’94 V6 Cougar, which after fixing up, I sold and replaced with a ’96 V8 Thunderbird. When I decided that I wanted to have a pickup truck, I sadly had to let go of the ’Bird to keep the driveway from being too crowded.

I have no intention to get rid of my Mustang or the truck. Both are ’95 models and are fairly easy to wrench on & find parts for.

That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms > and 100 more
12/28/2016 at 18:01

If you keep them a while, I would worry more about the car itself than the resale. I know I’m always changing cars so it makes sense for me, but I often wish I was the sort of person who got really attached to cars and kept them a long time.

Eric @ opposite-lock.com > and 100 more
12/28/2016 at 18:06

I keep them until they start becoming sufficiently-unreliable that I can’t use them for DD duty. When this happens, they generally go to a family member (parents, siblings) that can limp them along indefinitely.

Historically, that has been about 13-14 years after it was built and ~8 years after I purchased the car.

If you choose wisely, there are few reasons you’ll be able to see to replace a DD. The only things in the past that made a car annoying were lack of an aux jack and lack of A/C. With an aux jack and A/C, a car could run forever (assuming no new killer feature appears) and I wouldn’t see a reason to replace it. DDs are something you should focus on getting the most utility out of, so you want to minimize your TCO and maximize longevity. Trading a DD out regularly is simply throwing money away...

TheTurbochargedSquirrel > and 100 more
12/28/2016 at 18:07

I intend to purchase vehicles that I enjoy and which suit my needs at the time of purchase. I would then use the vehicle until I either no longer enjoy it or it no longer fits my needs anymore. As such I anticipate I will drive my Cooper for another 5 years or so until I end up married and need a more family oriented car.

Phatboyphil > and 100 more
12/28/2016 at 18:07

My plan is to figure the biggest downpayment I could make. Then see what cars I could by with that. Buy one of those instead of getting a loan and not having a car payment!

TysMagic > That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms
12/28/2016 at 18:10

This is my exact process. It’s all about am I going to profit or at least break even at the end of these 3-6 months of ownership. Same sentiment on as soon as I let my heart play with my money I tanked my profit (looking at you Land Rover for Audi trade)

XJDano > and 100 more
12/28/2016 at 18:16

The first one, with cars now. They are an appliance to get me to work. My toys are here, but neglected.

I regretted selling my motorcycle, so I bought another a few years later in brown. So, I’ll keep that as long as I can.

Jordan and the Slowrunner, Boomer Intensifies > TysMagic
12/28/2016 at 18:17

Don’t you have an Abarth?

WilliamsSW > and 100 more
12/28/2016 at 18:30

I have bought 3 cars in the last 20 years, and sold exactly none of them. They’re all still in my driveway/garage. Not that I planned that, though.

I think having a time frame is a good idea, but you should remain flexible. In general, I buy a car expecting to keep it 3-5 years for planning purposes. Some I’ve ended up dumping after a year, and others I’ve kept for 10+ years.

Distraxi's idea of perfection is a Jagroen > and 100 more
12/28/2016 at 18:35

Buy something about 3 years old, semi-fast, semi-practical, semi-resellable, semi-affordable. Keep it for about 5 years, sell it before it starts to become unreliable. Assume that after 5 years it’ll be worthless, save enough to spend the same again in 5 years time. Any money I actually make off selling it goes to buying something more expensive next time.

Alternating with ignore all the above, fall in love at random with something old and British or French while browsing ebay, buy the first one that takes my fancy, keep it till it breaks my heart, then take a bath selling it because I’m one of three people in the world who wants one and the other two already have one. Then return to strategy A.

That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms > TysMagic
12/28/2016 at 18:36

Yep. I went from making a mint on a ‘95 Trans Am to losing like $3k on a ‘90 Dodge Daytona Shelby. Then I went from making $1800 on a Corvair and $1000 on a Mustang to losing $1000 on an F250...I’m recovering from that though. I’m $4400 into a ‘97 Land Cruiser that I think will sell for $7-8k when I get around to selling it.

B_dol > and 100 more
12/28/2016 at 18:45

I buy the thing I am absolutely the most passionate about (at the time) with a hint of rationality - drive it until my desires change.

2012-2015 Scion FR-S, 2015-present BMW Z4M Coupe. Not sure if this one will become a 2nd car or equity towards the next dream.

My wife is a bit of a design study: 2010-2013 Toyota Prius, 2013-2014 Hyundai Elantra, 2015-present BMW 228i (manual!), ~2017 Miata ND. You can see exactly where my influence took place.

TysMagic > Jordan and the Slowrunner, Boomer Intensifies
12/28/2016 at 19:13

Yep, heart purchase. However bought it used so not totally screwed there. I have a touch of equity in it actually

TysMagic > That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms
12/28/2016 at 19:15

Sounds like a good position to be in on the land cruiser - pending any unforeseen bamboozlin!

RallyWrench > and 100 more
12/28/2016 at 19:54

I have a very highly refined process of seeing something that catches my eye and then buying it on a whim. It’s still under development.

HFV has no HFV. But somehow has 2 motorcycles > and 100 more
12/28/2016 at 20:24

For my cars, I let my heart decide, well my wallet has a say as well, but still it doesn’t usually end well. I tend to keep cars maybe 2 years (I’ve had ten cars in 8.5 years of driving) so i tend to roll the dice.

For my wife’s car, it had to be prefect and under budget, she’s cheap but she knows what she wants. She also keeps cars till they die. She had her caviler for 6 years, she’d still have it if road salt hadn’t had its way with her.

Also I only buy private party, I’ve bought at a dealership once, but in after 2 years and 20,000 miles of ownership I lost 3200 dollars, not counting probably 1000 dollars in maintenance. Buying used at a dealership is fun if you’re like my wife and plan on running your car into the ground, but if you have automotive ADD you’ll loose you ass because you can’t sell a car for the retail price you paid.

Junkrat aka Rick Sanchez: Fury Road Edition > and 100 more
12/28/2016 at 21:07

The best strategy is to find a rich friend and convince them to buy it. When it has sat for a year after your friend bought it then you offer to buy at a discounted rate. I use the term friend loosely. This method allows you time to save your money and never have to pay payments.

That’s what a horrible person might do.

itranthelasttimeiparkedit > and 100 more
12/28/2016 at 21:25

Have a budget in mind then peruse CL (or dealer ads once, that ended badly). I end up buying whatever catches my eye and I’m able to get my hands on first. Ended up with a boxster, e60, grand wagoneer, e30 and e39 that way so I’m not doing too bad I guess.

CaptainSlower > and 100 more
12/28/2016 at 22:49

Old car explodes. Shop guys make same face the vet does when they tell you Sparky needs new kidneys. Sell car to shop guys to flip.

Figure out budget. Look at every car on Craigslist within that budget. Winnow out obvious scams, wrecks, and anything that just doesn’t appeal.

Bookmark giant list of possibles. Research. Try and weed out anything that sounds like a money pit or a basket case. Bookmark a dozen German and British cars that are at least old enough to buy their own cigarettes anyway.

Start emails/texts/calls. Wade through non-repliers, lost the title-ers, oh is that ad still up-ers, dealers posing as private sellers, and, only available for a ten minute window on Wednesdays that are prime numbers car show-ers.

Find someone who can actually meet on my schedule. Arrange inspection/test drive. Try to evaluate with head not heart. Repeat until success.

Bargain. Purchase.

Hold on to new purchase like Gollum with the One Ring.

Until it explodes.

Autofixation > and 100 more
12/28/2016 at 23:42

Manual

Subaru

Wagon

For the rest of my life, or until I can afford an additional project car which will be RWD and a coupe or a roadster. I don’t intend to ever own a sedan, they are stupid.

Wagon, semi manual, not brown, turbo because volvo > and 100 more
12/29/2016 at 02:17

Can I lay down in the back? Is it decently peppy and responsive? Is it a wagon? Buy it!

Will it cost twice what it is worth to repair? Are we bored with it? No demo derby coming up? Put it on cl, no lowballers, i know what i have.

My newest i plan to drive till the wheels fall off.

LimitedTimeOnly @ opposite-lock.com > and 100 more
12/29/2016 at 07:31

For my last three cars I have bought new and held for a while. Buying new means I get exactly what I want and can have competing prices to have confidence i got a good deal. I also tend to have fewer problems due to warranty and then obsessive ownership.

I then tend to hold them until they are really frustrating me. Not doing that anymore, though, life is too short.