How long do you keep your vehicles?

[asel3121]

I never kept a car more than 2-3 years for a myriad of reasons, usually none of them very positive. But I'm going on 7 years with my 2014 Chevy Spark and it's totally paid off, sitting around 114k miles. Can't wait to trade up for the Maverick!

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[Bill Cather]

I’m 35 tomorrow. Starting driving at 14, country school permit. I’ve had 2 vehicles. This will be my 3rd. So not quite drive till it rusts back into the earth but more like drive well past pay off date and wait for something big to break.

I agree, paid off Prius a few years back... Thought I'd keep it till one of us bit the dust (I'm 68)... But.......
I've normally kept cars at least 2 years after payoff

 

[Deleted member 1157]

I usually buy a new car every 5 years or so.

 

[Dreams]

The other half was a car salesman and then finance manager for over 20 years. Leasing is based on residuals, so there would be some crazy deals that you just couldn't pass up, like an Escalade for $99 a month. So, we were always switching out one for another. 1-2 years at most.

More recently we had a Wrangler for 5 years. Now a 2020 Soul. It's pretty much paid for and the plan was to keep it until whenever. But, when I saw the Maverick, that plan changed.

 

[JASmith]

I tried to find some studies or articles that found the average "tipping point" of a vehicle, when the cost to repair begins to outweigh the value, but I didn't find much.

I've done a lot of research, and basically there is no tipping point. With the exception of a lemon, its always cheaper to repair an older vehicle than to purchase an equivalent new replacement, especially since most vehicles will lose half their value in only 3 years.

The main reason to purchase a new vehicle is for the aesthetic appeal of a new vehicle that doesn't yet have scratches, dings, and the like, as a status symbol since a new car makes you look more successful than a two decade old one, and for new technology that provides better performance, creature comforts, and/or fuel economy and lower emissions.

Otherwise, a new vehicle with its constant monthly payments is like if you had a $500 part break every single month over and over again for years, which is highly unlikely. As an example, I have a Ram 1500 w/ 150K miles on it in which the water pump recently broke, and it cost me a Saturday and $196.54 for a new water pump, fan clutch, belt, and enough coolant for a complete fresh flush. Total expenditure to date on repairs has been under $1000 in 12 years, which is about two months of car payments. Original purchase price was around $30K + $1K in repairs - $12K residual value looking at similar cars on the market now / 144 months = $132 a month cost so far.

 

[Shecster]

Long time ...... 1971 was a bit ago,
She still runs great ..... base price as I remember it was $1995.00 sound familiar ? Well add a couple of zeros and we have the 2022 Maverick base price.
So this one has just passed 50 years.......
I don’t like change but the new Maverick will be a super change.

 

[charlie]

I drive a 2002 F150 supercab, my wife drives a 2006 Prius.
I'm 72, this Maverick will be the last car I buy.

 

[Maven]

I drive a 2002 F150 supercab, my wife drives a 2006 Prius.
I'm 72, this Maverick will be the last car I buy.

You know Murphy is listening, see you at 85.

 

[NewBernWolf]

I'm the person you should buy your used car from. I buy new with a generous level of technology, then in 6 to 8 years (100k to 120k), I sell it and buy something else new, with cool technology that has a great big owner's manual.

 

[A Dodge that drives Fords]

My first car was a 1971 LTD in 1986 for my 16th birthday from my Mom and Dad. But never got to drive it, then my Dad sold it become I didn't get my license. Then I got my license in 1989 my first car I learned to drive in was my 1968 Mustang(converted to a shelby) with the first appearance of the V8 302ci(5.0L) probably not a good thing for me to buy at 19 but fun to drive. Had a 1978 fairmont wagon to drive in the winter and store the mustang. Young and stupid sold both 3 years later. In 1992 got my first truck a 1988 ranger 4x4 STX with off-road package. Missed the speed of the Mustang so sold the ranger a year later. And got a 1990 Ford probe GT turbo the worst car I ever owned how it was supposed to replace the Mustang I will never understand. Then in 1996 I got my newest car I ever owned a 1995 T-Bird with only 5,000 miles. Then my first new car in 2001 I went back to a Mustang which was a 2002 Mustang GT. Which I had the longer 12 years. 2012 got a house mustangs don't work good for home improvements. So got a 1995 F150 but in 2013 sold both and got my current truck a 2001 4.0L Ranger edge 4x4 a truck with speed it's 20 years old now but still runs good. But time to upgrade to my 10th Ford the 2022 velocity blue Maverick XLT EcoBoost all wheel drive.

 

[MHTR2018]

I am curious how long everyone here usually hangs on to their vehicles. There are generally two schools of thought: Keep a vehicle until it rusts back into the earth, or sell it when it is relatively young and still worth something.

My Dad's 2001 Tundra has something like 330,000 miles on it. It still runs great, but I feel like the past five or so years he frequently has it in the shop for something. Some of it is routine (that truck has a timing belt) but some is not. He had it painted a few years ago since the paint started to fade on the hood.

I used to be on the side of "keep it forever" like he has, but now I'm leaning towards selling it around the 8 - 10 year mark. At that point the vehicle is long paid off, and you could be saving money towards a new vehicle. And hopefully the car hasn't needed any major repairs at that point.

I tried to find some studies or articles that found the average "tipping point" of a vehicle, when the cost to repair begins to outweigh the value, but I didn't find much. I'm guessing it is a tricky thing to figure out since it can wildly vary from car to car. If anyone has any info on this it would be appreciated.

So, what do you do, keep it forever, or sell it young?

I guess I fall into the keep it crowd. I still have my 1978 BMW R80/7 and my 1998 Ford F150 I bought new.

 

[mamboman777]

Depends on the car. I kept my Mazda Protege5 for 10 years and 184,000.

I'll keep my current Ford Focus until my truck is built... About 10 years and 140,000.

I'm hoping to get the same out of the Maverick. Maybe longer as in eleven years my boys will be turning 16.

I think some cars/trucks are able to go longer. I feel like after 10 years, though, there's going to be need to replace/refurbish many parts. That's part of the reason I'm usually looking at or around 10 years.

 

[BoomerBoy]

Depends on the car. I kept my Mazda Protege5 for 10 years and 184,000.

I'll keep my current Ford Focus until my truck is built... About 10 years and 140,000.

I'm hoping to get the same out of the Maverick. Maybe longer as in eleven years my boys will be turning 16.

I think some cars/trucks are able to go longer. I feel like after 10 years, though, there's going to be need to replace/refurbish many parts. That's part of the reason I'm usually looking at or around 10 years.

Yeah I’m currently driving my wife’s old 2010 Focus with 190k miles, gets 35mpg and still runs like a champ! She’s driving the NEW Escape lol. Really looking forward to my new hybrid XLT!

 

[mamboman777]

Yeah I’m currently driving my wife’s old 2010 Focus with 190k miles, gets 35mpg and still runs like a champ! She’s driving the NEW Escape lol. Really looking forward to my new hybrid XLT!

I think we are the Mavericks target audience.

 

[Don Morris]

With the exception of severe mechanical problems (a couple of used cars that lasted 2-3 years, 1 new pickup that lasted 3 years), and 2 cars that were totaled by actions of others, I tend to keep cars for 6+ years. My current car was built 10 years ago this week, though I bought it new in July of 2012, so it is 9years in my possession, and I would keep it, but I have better use for a small pickup, thus the Maverick, whenever it gets built. Hope to keep it running as long as I can drive.

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