A few nights ago night the hubs and I went out to dinner with his folks. It was a nice restaurant (they were buying), nice dinner, and nice conversation. However, just as I was about to dig in to my chocolate mousse tuxedo cake dessert, it happened. To be fair, we should have seen it coming. After all, they had borrowed hubby’s car that day since theirs was in the shop.
Right as we were about to dive in to dessert my mother-in-law asked, “WHY don’t you guys get a new car? Or two? We worry about you when you go out of town. We worry from the moment you leave until you get back.”
Sigh. We’ve had the same conversation with them in the past. They had just driven hubby’s car that day so were undoubtedly aware of the fact that something in the driver’s side door is rattling. They’d probably also had the opportunity to discuss AGAIN the fact that his car does not have cruise control. Or power steering. And it has 140,000 miles. It’s 15 years old.
My car isn’t much better. It DOES have cruise control and power steering. And it is two years newer, so only 13 years old. But the air conditioning is permanently broken (not that I care much at this time of year, but August totally sucks). The knob for the vent is broken off, so I keep pliers in my car so I can switch from front vents to floor to defrost, etc. And it has 215,000 miles.
Don’t get me wrong, we don’t neglect our cars- we service them regularly and take care of anything that affects how they run. There are plenty of cosmetic issues with both cars, but they do not seem to affect function.
I cannot tell you how many times over the years we have been pressured by various friends and family members to get new cars. We graduated from school in 2006 and I think that after that it must be society’s expectation that thou shalt replace your car. To be fair, we did endure a five year span of time when my front windows did not roll down at all. That was a little crazy. But if our crappy cars do not bother us at all, then I really don’t understand why they seem to be bothering everyone else so much. I try to avoid letting others ride in my car in August- so it’s not like we’re torturing anyone!
Why haven’t we replaced our cars? I’m so glad you asked.
Top 8 Reasons Why I’m Keeping My Crappy Car
- We’d rather build our assets than buy something that will almost immediately depreciate.
- Since our cars are old and a little decrepit, we recognize that they are worth far more to us than they would be to anyone else (since keeping these cars allows us to avoid the expense of purchasing newer cars).
- We’d probably get pretty much nothing if we tried to sell them anyway!
- I really have a phobia of car salesmen. I know, I apologize to all you car salesmen out there, but I had a bad experience with a car salesman back in college and apparently I am now scarred for life.
- We don’t have kids yet. The plan is that one of the crap mobiles (we go back and forth on which one) is going to have to go when we adopt.
- Our cars have been paid off for forever. We have been completely spoiled by not having to make car payments for the last 10+ years. We don’t really want to go back to that.
- We keep saying we’ll replace a car when we come to a huge expensive engine problem or other issue that we don’t want to pay to fix. And it hasn’t happened up to this point. We’ve had routine maintenance things and a few extra expenses likely because of the high miles, but nothing huge.
- It costs pretty much nothing for registration for older vehicles in our state. This was also the case in the last state that we lived in. Friends with newer vehicles pay a lot more. I think this is because the registration cost is based on the value of the car.
We feel that these are valid reasons for hanging on to our present cars. But we don’t know how to argue the “we worry about you” concern. Is an older car with more miles that much more unsafe to drive than a newer car? Is this a rational fear? On one hand, we find it annoying to have someone else (who is not even in auto sales!) pressuring us to buy something that could easily cost tens of thousands of dollars. On the other hand, we feel guilty about making people worry so much.
UPDATE: We adopted our sweet baby girl several months ago. True to our plan, we replaced one of the crap mobiles when we became parents. We are now down to just one crappy car, which we still plan on driving until it is dead. 🙂
What do you think? Is the increased safety factor big enough to justify purchasing a newer car when you have an older one that runs fine?
Suggested Reading: Want to learn more about ways to contain your spending and cost of living? Check out one of my favorite personal finance books, The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
Photo: danyk/Depositphotos.com
Holly@ClubThrifty says
atI have a 2007 periwinkle dodge caravan and I’m driving that baby into the ground. It’s ugly but it’s paid off and runs well. It’s also extremely comfortable. I love that thing!
cmf says
atThat’s our plan too. In my opinion a car that is paid off, no matter how crappy, is way better than any car you have to buy or make payments on!
sandy says
ati drive 2 1967 fords talk about fix and keep
Dee S says
atThat’s awesome! I imagine you’ve run into some maintenance issues over the years- do you repair them yourself? That’s one thing we need to get better at- if we could fix even some minor things on our cars we could probably save even more cash.
Ryan @ Impersonal Finance says
atI think safety is important, but cruise control and power steering aren’t the biggest deals. People always talk about getting new cars, and I always liken it to going to a financial advisor, giving him 30k, and the second you pull out of the parking lot, he calls to tell you your investment has now lost 25%. I know it’s not a perfect analogy, but hey. And it’s awesome that your car has 215k miles on it! I’m driving mine until the wheels fall off!
cmf says
atWe agree that cruise control and power steering aren’t the biggest deal- it’s certainly nothing that we feel affects our safety all that much.
moneycone says
atHey, ‘Crappy’ is all relative! If it runs safely, keep it! I have an old car myself – no intention of upgrading!
cmf says
atOur thoughts exactly!
E.M. says
atI think you have great reasons for keeping both cars. I plan on keeping mine until it dies, too. My passenger window doesn’t roll down (and I have a 2-door), but it’s not a deal breaker to me. I bought the car with great miles, so for now I think it’s worth whatever repairs may crop up vs buying a newer car. It’s a good plan to get one in better shape once you adopt. For now, as long as they’re running well and getting you from point A to point B without worry, that’s all that matters.
cmf says
atI totally agree- the window thing is a bummer, but you can live without windows that roll down
Elroy says
atI still drive my crappy car. Mine is only 11 years old and I got when I was in college.
Cars just aren’t important to me and simply don’t create the experiences I am willing to pay for.
If my in-laws got into my business like that I’d tell them we’d gladly accept a proper vehicle of their choosing for Christmas.
cmf says
atHa! No kidding. Might have to pluck up some courage and say that next time- that may stop the conversation from recurring, at any rate.
Andrew@LivingRichCheaply says
atWow, you’re making me feel bad for getting a new (used car)…I mean my car was only 13 years old with 170,000 miles on it. Well one of the reasons we bought a car was we were planning to start a family…and I did want to have a car with newer safety features: anti-lock brakes, stability control, etc. Plus, the car had some issues…it broke down on my a week before my wedding day while I was driving to a vendor. As for car salesman phobia…I don’t like them either. I bought my car from Enterprise (yes they sell cars too). It was no haggle and I had a good experience…though I don’t know if everyone will.
cmf says
atYou bought a car from Enterprise the car rental place? We might have to look into that. Sounds more appealing than dealing with car salesmen, although I wonder what kind of deals they offer.
Andrew@LivingRichCheaply says
atI think the pricing is pretty fair and they are upfront about their fees whereas dealerships seem to hide them. You can read about my experience here: http://www.livingrichcheaply.com/2013/06/20/no-haggle-car-buying/
They also offer deals where they will give $500 over the KBB value of your trade in…although it might not apply if your car is too old. Hertz also sells cars too. Doesn’t hurt to check it out.
cmf says
atThanks for the info. I read your article, sounds like you got a pretty good deal. I will definitely be looking into that when we start thinking about car shopping. The trade-in incentive would help us out too. Sounds way less painful than dealing with dealerships and salesmen!
robert@moneybulldog says
atI’m glad to hear that you are keeping your old car, as I am doing the same! Mine is now over 20 years old (I now live in South America so no-one really gives me any grief about getting a new one). I just can’t justify getting a new one
cmf says
atHmmm, moving to South America might be a good way to get people off my case about my car… the weather sounds better too!
eemusings says
atSafety is really not even on my radar. For us, it’s about reliability – is our car likely to break down and strand us (been there done that too many times), is it likely to get a warrant of fitness easily or are we going to go through hell every six months trying to get it to pass, how much are repairs and maintenance going to cost us, etc. Cars cost a bomb down here in NZ so even a beater costs a lot. We’ve done cars in the $1 and 2k range, our current one was a $5k car about three years ago that’s starting to head into the ‘is it worth fixing?’ territory and our next car I’d like to go as new as we can possibly afford.
cmf says
atGood point, there is a difference between safety and reliability. Safety to me means is it likely to blow up or catch fire or something like that. In terms of reliability- right now our cars are plenty reliable! They’ve been getting us from A to B for over a decade.
Jen @ Frugal Rules says
atThe cars are running and take you to where you want to go, right? Besides, you know where your priorities lie. Just view what people, parents including, say as suggestions and what you decide is up to you.
cmf says
atSounds like solid advice. And it’s pretty much what we are doing at this point!
DC @ Young Adult Money says
atI’m keeping my “crappy old car” as long as possible! It has 215k miles on it and is 12 years old. My wife’s has 160k miles and is 14 years old. I’ve accepted the fact we need a new one soon, since we’ve both had problems with ours and it would be nice to have one reliable one. I think safety does come into play. My wife gets anxiety about driving in the snow/ice and….well…we live in Minnesota haha.
cmf says
atWe’re kind of in the same boat. The odds are good that we are going to have to replace one at some point in the (probably near) future, but until that day comes we are enduring the crappiness for the sake of being able to save our money now!
Kyle | Rather-Be-Shopping.com says
atKeep driving it baby! I always say as long as the big things are working fine, engine, good tires, good brakes, keep driving it. When we had kids my opinion changed a little as I wanted something a little newer for long drives out of town. But that was just a weird piece of mind thing and not completely rational.
cmf says
atThat’s kind of where we are at too. When we have kids it will be time to get a new vehicle (it’s probably this line of thinking that has my mother-in-law concerned as well). But until then, they run well so we’re keeping them!
Charles@gettingarichlife says
atHey Dee,
A paid of car is the most beautiful car in the world. Have a great weekend.
cmf says
atWell said! And I couldn’t agree more.
Green Money Stream says
atI am in complete agreement with your philosophy. No matter how you slice it, cars are a money suck. I agree that you may want to upgrade for safety reasons when kids are in the picture, but that certainly doesn’t mean a brand new car by any stretch.
cmf says
atOur next vehicle is definitely going to be a late model used! We could never dream of paying for a new car that depreciates by 25% the second you drive it off the lot!
Jim says
atIf the cars you are driving work for you and hubby, keep em.. that is as long as they are safe. Not making car payments is the way to be, though much of society doesn’t believe that. We live in a world of “how much is the payment”, not “how much does the item cost”…
cmf says
atWe LOVE not having car payments. I seriously cannot imagine going back to having payments on our cars- and we really don’t feel like dropping a big chunk of change to get newer ones when our old ones run fine!!
Darlene says
atOK.. at the risk of being the odd one out, I have to ask..
Why is it assumed that a new (or newer) car automatically means car payments?
What about saving up for a newer car? If you save $3k you buy a $3000 car. If you put aside $7k you spend that much.
I can’t remember the last time I had a car payment but we always bought what we had the money to buy rather than finance. If we didn’t have the money, we saved or invested until we did.
The only exception I’d take is safety. A car payment is a small price to pay to possibly save your life.
But now that you’re a proud mama, it sounds like you’ll be replacing one of the crappy cars.
~darlene
Dee S says
atHi Darlene! You’re absolutely correct, a new car does NOT necessarily mean car payments. I think inside my head that’s what I equate it with because in the past when I drove newer cars (before I became such a crazy frugal chick) I always had car payments. So for me when I think about driving a newer car again it’s an automatic association. But it absolutely does NOT have to be that way! And yes, we did recently replace one of the crapmobiles. We do have a small car payment because we didn’t want to pull so much from savings with a little one on the way- but we are on track to have it paid off within a few more months.
Dividend Diplomats says
atCMF,
I am with you. Keep the cars until they die! As you mentioned a new car has many expensive costs that compliment the purchase. The one I did not see you mention was insurance. It costs a lot more per month to insure a newer car with a higher value instead of an old car that barely has any trade in value remaining. If it doesn’t bother you, then why sell the thing! A few years ago I had to purchase a new car because my sister came back to the country and needed a car. Since I had a job I drew the short straw. I opted to purchase a Toyota with the thought that the car can get me anywhere between 150k and 200k. Just like you, I want to squeeze the most value out of the expensive investment.
Keep on driving and hopefully the cars continue on for a long time!
Bert, One of the Dividend Diplomats
Shastababy says
atAlthough this post is a few months old, I just came across it. I drive a 15 year old pickup. it’s got 153k miles, no A/C (in Florida!) but I’d drive it across the country tomorrow. Before this, I had an 85 Escort that I bought brand new. I said I’d drive it til the doors fell off, and I did that, literally. My driver’s side door hinge had been welded and finally broke off. That car had 310k miles on it. The only major issue ever with it was that the clutch pressure plate had to be replaced (as well as the clutch) at 185k. I had it done for the cost of parts at the local community college. The automotive training program does work on cars for the experience, all you pay for are parts. The students are supervised by certified ASE mechanics and you get a warranty. The drawback it that it takes a while sometimes. Took a week and a half to get the Escort back, but what a huge savings! If your area has a mechanic training program/school. it might be worth looking into. Similar to going to the cosmetology school for haircuts, mani-pedi, etc.
Dee S says
atThat’s AWESOME that you got your car to run until 310k!! That’s the most I’ve ever heard- fantastic! I love your suggestion to have students work on your car. When we got married we hired a photography student from the local photography school, and I hired cosmetology students to do my hair. Those things saved us a TON of money!!
velvetanne says
atI’m with you. I drive a 1998 Jeep Cherokee that I purchased brand new – it has 200,000 miles. I would NEVER get rid of it even when and if I get another one. I raised my two girls in that Jeep. Luckily I only drive it very little each day. If I need to go out of town, I will drive it within a 2 hour radius. Anymore than that, I’ve always rented a car. if I have car trouble, I just call the rental car company and they bring me another car. Even if I had a newer car and it broke down in another town, it would be a huge hassle. I don’t know your relationship with your in laws however it seems inappropriate for them or anyone else to mention you buying a new car -unless they were buying it for you.
Dee S says
atHa! I wish they were buying. That’s kind of the way my MIL is. Even after that conversation with them, I still don’t necessarily think that an older car is that much less reliable than a new car- depending on the car of course! But we love our car because it’s been paid off for over a decade now. That’s a decade without car payments, and you just can’t beat that 🙂 I’m sure your Jeep Cherokee is the same. Why get rid of a perfectly good car just because it’s happens to have a few years on it???
Jane says
atMy 2001 Buick LaSabre has 175,000 mi and has had very little repair. My front windows don’t work ( bummer at the drive-thru) and the dash is buckled, but it drives great and heater and air work fine.
One thing you didn’t mention is unconcern over small accidents to the exterior. I don’t freak out when this car gets a ding. It still looks good, but has a few scrapes and small dings, so a new one often goes unnoticed, LOL.
Wish Buick still made the LaSabre. There are lots of them still on the road, a testament as to how much they’re liked and how well they last.
Dee S says
atYou are so right about not sweating the door dings! I really couldn’t care less about door dings (and probably wouldn’t even notice them!)
Shannon says
atI’m Down Under and I drive a 2004 Holden Commodore (GM for those of you Stateside). I teach at an exclusive school and it’s almost a competition to see who drives the newest, most expensive car. I really don’t care. We’ve made some big financial mistakes in the past and we’re determined to get on top of them. Driving an older car is part of that!
Dee S says
atExactly! My crappy car gets me where I need to go- and hopefully one of those places is called “Financial Independence”!
AmyL says
atWe drive old, crappy cars. If we ever want to do a road trip we don’t think one of our cars will make, we figure a rental into the cost of the vacation. Still works out cheaper than a new car, and no parental concerns. lol
Sorry for commenting on old posts, I just found your blog and am enjoying it immensely.
Dee says
atExcellent, thanks for stopping by!
Lee says
atI just came across this post and wanted to chime in. I drive a ’95 Corolla that I’ve had since 2008. Other than a couple of dents and dings, it really is a great car. I’ve only ever had to do regular maintenance on it, and it gets amazing gas mileage. I’ve almost crept up to the 100K mile marker! A select few people I work with (one being a supervisor) have asked me over and over again when I’m going to replace it. I’ve told each of them ‘when you pay for it’. It isn’t pretty, but there’s absolutely nothing mechanically wrong with it. I am saving up to buy something newer (in cash), not out of necessity though – it’s just a want. My family have all told me, however, that I like pinching pennies too much and that I’ll never convince myself to make that big of a purchase – just drive my car until it completely falls apart 🙂
Dee says
atThat’s awesome! Ours now has over 220,000 miles and she’s still going. It’s just sort of a daily driver now, my hubby takes it to work. He has absolutely no need for a fancy vehicle just for that! We’d only get like $550 if we traded it in- and the cost of a nicer newer car would be wayyyyyyy more than that! Therefore, our crappy $550 car is actually worth thousands to us 🙂
Tom says
atI have recently had the old mid-90’s car finally bite the dust after 11 years (it was second had when I got it). Now I have a “new” second hand car that should last for another 10+ years. The cost of keeping a car “new” is just too high to justify. I am so glad my “keeping up with the Joneses” need is virtually zero!
Dee says
atThe last time I checked Kelly Blue Book it said that my car is worth about $500 right now. But we joke that it’s worth wayyyyyyy more than that to us- if we did not have that car, we’d have to pay thousands for a new one! There is something to be said about that, for sure!!
Tony says
atI wrote a blog about our decision to buy a brand new car to replace our fourteen year old one. In a nut shell, since we could get 0% finance on the new one I did all the maths and concluded that the monthly cost of old and new cars was almost identical. £94. I struggled with the decision but I just couldn’t argue with the sums and since the new car has a mileage restriction it’s helping us to walk and bike more.
Dee says
atAre you leasing the car? I’ve never heard of a mileage restriction on a car that wasn’t rented or leased. Glad to hear it’s working out for you.
Philip says
atI love this post! My wife and I are of the same mindset as the author and if you don’t like my bucket, don’t look at it. It’s absolutely wonderful to have disposable income and we are investing in stocks and cryptocurrency instead of paying car payments.
Heck, one of our buckets gets 400 miles per tank of gas. My brother keeps the cars running well so that saves us a lot of money.
Dee says
atWe love it! At this point we are at 240k miles and counting, but it still runs great! We have every intention of driving it until it’s dead 🙂
Mike says
atI have a tan 2004 Malibu Maxx with plenty of rust and all sorts of cosmetic damage! It’s been paid off for years runs good and is a hatchback with tons of storage!! Has a solid v6 with good mpg and I just can’t bring myself to buy another vehicle. My wife drives a new jeep and we live in a small city so Mines basically for transportation just to work and back. It completely blows my mind that so many people have two or more brand new vehicles with huge payments in a city that you can bike across in 15 minutes! I’ll keep mine until it dies, then I’ll probably buy another slightly newer old vehicle!!
Dee says
atYes!! Absolutely! The last time we checked Kelly Blue Book the value of our car was in the neighborhood of $180, so it makes no sense to try to sell it. It’s worth FAR more to us than anyone else! No car payment on it for 18 years and counting…