I've already done the calculations. Driving a cheap old car does not save you any money vs buying a new entry model car.
**EDIT*
In depth break down of my calculations.
First, lets establish some basics.
-older cars only last 200k. I've already spoken to an engineer about this. This is because the engine will burn oil due to usage. So even though you can still drive it, the car is not truly road worthy. Cars made in 2015 and up can get 300k, with perfect maintenance.
-The used price of cars keeps dropping until they float around 4-8k, once it has more than 100k miles for most makes.
So lets say you needed a beater. You go on craigslist and find a 2005 Honda with 150k miles for 5k.
You buy it.
A couple of things we know about this Honda.
-it can fail within the next 100 miles, or it can fail within the next 50k miles(200k).
-the cost to fix worn out systems that enables the car to run safely and reliably, can vary from a couple of hundred, to a couple of thousands.
-used transmission $300 + labor
-used engine $300 + labor
-drive train components $200 + labor
-ignition components $200 + labor
-belts and pulleys $150 + labor
-cooling system $150 + labor
-tires - $500
-batteries $100
-brake components $100-$500 + knowledge and labor
-suspension components - $500 + labor
-headlights $150
-steering components $100 - $300 + labor
-AC system - $150 + labor
-fuel systems $100 -$300 + labor
-exhaust components $150 - $300 + labor
-faded paint/ NA
-worn interior parts/ NA
-mechanic tools $200 - $1500
Adding all of that together with the average between variable cost of parts, it comes out to $4000 without labor. $100 - $4k is what you are looking at to shell out over 50k miles. Thats not bad for 50k miles of driving. Total end cost for 50k miles is $5k + ($100-$4k)
With labor, it is $4000 in parts plus twice the amount, since labor is always 2x more than the cost of the parts. But we will take the average of the labor cost + parts, which will bring the cost to around $5k + $6k= $11k. That is how much you are expecting to pay over the course of the 50k miles of this Honda if you have no mechanic skills.
Now, lets say you bought an entry level, or cheapest car that is offered by Chevy, which is the spark that goes for 14k. You can put 100k miles on this thing no problem. Remember, anything made past 2015 can get 300k with good maintenance. That is a fact. So you've used about 1/3 of the life of the engine. But lets say you sell it for half of what you bought it for. If the car was 14k, that means you spent 7k for 100k worth of RELIABLE mileage.
So if you spend just 2 grands more, you'll get double the amount of mileage over the beater. Here's something even better to consider, remember that I said used cars prices hover at 4-8k at 100k miles and over? Well if you drive the car for another 50k, which brings the car to 150k, you can still sell it for 4-7k. That means, you will have spent around 6k for 150k worth of RELIABLE mileage, vs cost of a used beater.
Basically, you are setting aside around $7000 because of the buy in price of the new car but you get this money back after a couple of years. With a beater, you don't have to set aside this cash up front. However, over the course of the beater, you lose money as you drive everyday because systems that makes the car run, fails.
Another great thing is, cars like the spark, there's always going to be people that sell it with low mileage like around 50k. You can pick them up used and save alot with having to shell out alot upfront.
So its very easy to think that beeturs save you money as you can see. As a matter of fact, chits cunningly deceptive. And you've have never catch it without the TuNa's sharp eye. But:
I rest my case. Thank you and good night.
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Thread: Beaters does not save you money
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11-26-2020, 10:35 AM #1
Beaters does not save you money
Last edited by tunafishha; 11-26-2020 at 11:47 PM.
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11-26-2020, 10:38 AM #2
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11-26-2020, 10:40 AM #3
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11-26-2020, 10:40 AM #4
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11-26-2020, 10:42 AM #5
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11-26-2020, 10:42 AM #6
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11-26-2020, 10:45 AM #7
without people buying chit tons of new cars used car prices skyrocket, making it better to buy a new car anyway. hell used car prices have been increasing exponentially. 1.5k kbb value trucks selling for 6-7k+ in 2020.
but OP is dead wrong. the right choice in beater will be still be cheaper in the long run than financing a new hyundai, but the difference is shrinking for sure
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11-26-2020, 10:46 AM #8
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11-26-2020, 10:46 AM #9
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11-26-2020, 10:48 AM #10
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11-26-2020, 10:50 AM #11
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11-26-2020, 10:52 AM #12
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11-26-2020, 11:00 AM #13
This. If you're broke, even spending $250/mo on lease payments but always being in warranty is a win. Not to mention you always the a safe vehicle.
My co worker has been paying $150/mo to pay off her 2006 Mazda 3. It legit doesn't have working brakes and has multiple mechanical issues a year. But it's "saving her money"480s / 370b / 495d / 235 x 2 SOHP
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11-26-2020, 11:03 AM #14
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11-26-2020, 11:09 AM #15
- Join Date: Aug 2011
- Location: Roseville, California, United States
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If you're mechanically inclined which the OP is not at all then it doesn't make sense to drive a worn down car.
I on the other hand for example can replace every bit of a decent accord for like 2k all at once from Rockauto and have a super reliable carThanks for your input, you frauding fat slampig-Sirfapsalot '20
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11-26-2020, 11:16 AM #16
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11-26-2020, 11:20 AM #17
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11-26-2020, 11:30 AM #18
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11-26-2020, 11:35 AM #19
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11-26-2020, 11:37 AM #20
- Join Date: Aug 2011
- Location: Roseville, California, United States
- Posts: 13,349
- Rep Power: 143166
Literally went to Rockauto and made a parts list to replace everything on my project car with OEM style parts. Entire cooling system, brakes including lines, ignition system, all struts, steering components, links, motor mounts, wheel bearings, axles, etc etc. A complete parts list minus a gasket kit which is 120 bucks for OEM and I was at 1200 shipped with tax not including a 5% coupon code.
And this is with quality parts from Gates, Moog, denso, NGK, McQuay, brembo, bosch
I could have gone cheaper by alotThanks for your input, you frauding fat slampig-Sirfapsalot '20
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11-26-2020, 11:40 AM #21
your boy biden, that you proudly state you voted for, will be coming for you car with the great reset and other middle class gutting agendas. Judging by how you vote you realize you do not deserve your privledged car and your finances need to be redistributed to make everyone "equal". This is what you voted for. My advice to someone that likes luxury is to realize it does not mix with socialism, realize this fast
IF YOU DONT SQUAT, YOU AINT SQUAT
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11-26-2020, 11:41 AM #22
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11-26-2020, 11:43 AM #23
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11-26-2020, 11:43 AM #24
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11-26-2020, 11:45 AM #25
Excellent science and math provided to prove your point OP.
I drove an ol' ****ty Toyota Tercel beater for 4 years as my first car. 100k miles on it. I got it for 1500$ and never spent a fuking dime on it other than gas, never even bought ****ing new tires for it. My second car lasted me 6 years and was a 4000$ Oldsmobile piece of garbage, I replaced the alternator on it. That's it.
You find a me a new entry car for roughly $6000 that'll last me 10 years, and I'll go buy it.*Dallas Cowboys Crew*
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11-26-2020, 11:54 AM #26
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11-26-2020, 11:57 AM #27
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11-26-2020, 12:01 PM #28
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11-26-2020, 01:21 PM #29
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11-26-2020, 01:30 PM #30
atomic rockauto blackpill. 99% of the different "brands" on there are all made in the same Chinese factory.
sure there is plenty of stuff where Chineseium is fine, but out of your list, brake system, ignition, steering, wheel bearings and axles 100% oem or bust. prolyl motor mounts aswell, depends on the style, in my experience chinese aftermarket manufacturers cant bond rubber to metal worth a chit.
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