I don't care if you're 125, a new car is a bad deal. It will depreciate a
good 25% in the nanosecond it rolls off the dealer's property.
Because of the structure of leases written by the manufacturer, at least in
the US you can get great deals on cars that are near current models with
very low mileage. My most recent purchase, a 2010 Lexus, had about 34,000
miles on it, in almost perfect condition. Also, there are aftermarket
warranties that will duplicate the manufacturers for additional miles. Buy
one of those carefully. I got mine from the guy that would have to collect
on the insurance if anything went wrong.
-----Original Message-----
From: Andrew Fildes
Sent: Monday, April 29, 2013 6:51 AM
To: Olympus Camera Discussion
Subject: Re: [OM] Extended warranty
Listen ohsocarefully.
One car I looked at was a Toyota Corolla - 2004. Low mileage (50K miles),
very clean, unmarked, new tyres, new clutch.
About one third of the new price for the latest equivalent.
I liked it a lot but I went for a small SUV because of the area I live in -
semi-rural.
Corolla 2001-2009 has the lowest breakdown rate of any vehicle by a large
margin (UK figures).
And remember that they're usually driven by people who can't fix even simple
roadside problems.
The sort of people that consider a flat tyre or battery to be a major
unreliability problem.
Toyota dealers are everywhere - they'll happily service it properly and
inexpensively.
You are in your eighties but I'll bet (a significant amount) that you're
more automotively capable than my wife.
She has an Echo (Yaris) which she's had for years, bought near new.
Serviced by the local Toyota dealer every six months.
They even bring her home and come get her at the end of the day (courtesy
bus).
Nothing has ever gone wrong - that's good because she couldn't change a
registration sticker, never mind a wheel.
If she does have a problem, she (and I) has roadside assistance (RAC -
coupla hundred a year, premium level).
Consider, if I'd bought that Corolla, I'd have had a reasonable expectation
of another 50-100K miles over 5-6 years or more without a problem.
I'd have saved a huge amount of money.
My father made it through his entire eighties with a similar car (used
Astra) on the same basis.
I bought an old low mileage '96 Astra in London in 2009 because it was
cheaper to do that than rent.
Great little car - needed a new muffler and head gasket but after that, my
son had had no problems.
Good for the city - looks a bit rough, nippy, comfy, cheap to fix.
He was grumbling the other day that it needed a new clutch (at 80K miles and
17 years old? Fair enough).
I am eternally grateful to the people who buy new cars - they sort out which
ones are the lemons, which ones are reliable, absorb the financial hit and
save me lots of money.
But mad at any age.
Andrew Fildes
afildes@xxxxxxxxxxxxx
www.soultheft.com
Author/Publisher: The SLR Compendium - http://www.blurb.com/books/3732813
On 29/04/2013, at 3:17 PM, Jim Nichols wrote:
> Bill, I think you are being a little harsh. Sometimes there are reasons
> to
> do so. When one gets in one's eighties, and cannot deal with a breakdown
> on
> the road, and can no longer see to maintenance details oneself, then a new
> car may be justified. It provides warranty service during the period when
> most problems show up. If one knows how to deal with the sales personnel
> and paperwork pushers, the result can be a happy situation. I did just
> that
> five years ago, went to the dealer during the warranty period, and now get
> my maintenance done by a local independent shop which has good access to
> parts and information. I'm sure this Volvo will outlive me.
--
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