Least Miles - Page 3

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Thread: Least Miles

  1. #21
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    Quote Originally Posted by spacedout View Post
    I guess I should have said its makes no sense to buy an new car at all if your driving less than 10K a year, period. I guess if you can some how make spending $15,000-30,000 on a car that in 5 years is only worth $5000 even with low miles make sense..... Anyone driving lower than 10K a year but wants the reliability if a new car should lease, unless they are really bad at math and want to give away their money.
    My parents would disagree, lol. One car is 10 yrs old with 80K on it (no repairs besides basic maintenance), the other 12 with 100k (lots of suspension work, a radiator, otherwise been ok). It would cost them much more to lease a car every few years.
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  3. #22
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    Quote Originally Posted by spacedout View Post
    I'm only interested in the most miles since those people are actually enjoying their cruze. If you drive under 10K a year you should not waste your money on a new car payment, period.
    My other car is a 2003 model with 57,000km on it. Both cars are well and truly paid for and as I am now retired most of my driving is going on trips with other members of a Cruze club I am in. Would you really want to deny me this pleasure?

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    Last edited by Aussie; 01-11-2017 at 06:25 PM.
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  4. #23
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  6. #24
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    As for the lease option, let's try these numbers: A quick web search is offering a 2017 Cruze for $19,900 or $230/month for 48 months with a 10,000 miles/year allowance.

    For simplicity, let's assume that you keep a car until it has no significant resale value. At $230/month, you'd have to keep that $19,000 car for 7.2 years before you start to come out ahead by buying.

    But if you're the type that sells cars after 4 years, you'd have to get more than $8,860 in trade-in. A quick check on KBB on a 2012 Cruze suggests that's optimistic.
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  7. #25
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    Quote Originally Posted by spacedout View Post
    I guess I should have said its makes no sense to buy an new car at all if your driving less than 10K a year, period. I guess if you can some how make spending $15,000-30,000 on a car that in 5 years is only worth $5000 even with low miles make sense..... Anyone driving lower than 10K a year but wants the reliability if a new car should lease, unless they are really bad at math and want to give away their money.
    OK lets go back to new autos 101. In 2003 I bought my S10 for $15,155 new out the door. Yes as soon as I drove it off the lot it was worth 1000s less, but you only lose that much if you sell it right away. It's now 14 years old so technically it's only depreciated +/- $1100 a year on average if it's worth $0 today. My '13 cruise is now 4 years old. I bought it for $22,000 out the door. Put 7k down and financed 15k @ 1.49% APR. Paid it off in 18 months IIRC? Not sure what it's worth and it doesn't matter because I do not plan on selling it. I plan on taking good care of it(not driving it after the salt trucks are out ect)to get the most out of it. Yes it was worth 1000s less the day I drove it off the lot but I didn't sell it the day after so that value is not an out of pocket loss. The same is true with buying stocks or commodities ect.
    Am I the only one that understands this???
    I bought my '66 chevelle in '87 or '88 for $2500, but that's another story.
    Last edited by BU54; 01-12-2017 at 07:06 AM.

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