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How many miles do you typically put on a vehicle before getting rid of


How many miles do you typically keep a vehicle  

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This is hard to answer. I WANT to keep them for 150k miles or more if I can. But neither my 2001 Dodge Dakota nor my 2007 Silverado made it to 100k before having major problems and costing me too much in repairs and I ended up unloading them both for something newer and more reliable. The Dakota I may or may not have been a little rough on....it certainly wasn't all me though. The Silverado was just a total lemon though I babied that piece of s**t and it got me nothing but credit card debt due to all the repairs and being out of warranty.

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This is hard to answer. I WANT to keep them for 150k miles or more if I can. But neither my 2001 Dodge Dakota nor my 2007 Silverado made it to 100k before having major problems and costing me too much in repairs and I ended up unloading them both for something newer and more reliable. The Dakota I may or may not have been a little rough on....it certainly wasn't all me though. The Silverado was just a total lemon though I babied that piece of s**t and it got me nothing but credit card debt due to all the repairs and being out of warranty.

I find it very hard to try and keep something over 100k anymore which typically means something between the ages of 8-12 years old or older. For multiple reasons. 1. Just having to replace wear items, tires, brakes, batteries, etc. That stuff adds up. Then you have un-planned breaks in items, the fact that a 12 year old truck with 150k is worth nothing at trade in, also newer technology provides more power and with better fuel efficiency. Ive argued it before and financially keeping a vehicle a long time rarely makes sense.

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I find it very hard to try and keep something over 100k anymore which typically means something between the ages of 8-12 years old or older. For multiple reasons. 1. Just having to replace wear items, tires, brakes, batteries, etc. That stuff adds up. Then you have un-planned breaks in items, the fact that a 12 year old truck with 150k is worth nothing at trade in, also newer technology provides more power and with better fuel efficiency. Ive argued it before and financially keeping a vehicle a long time rarely makes sense.

 

Yeah I may need more life experience in this area..

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Yeah I may need more life experience in this area..

Lots of people view a vehicle as having a payment or not having a payment, but thats not the whole story. And for some due to their budget whether it cost them more in the long run, not having a payment works for them. But if you look at the total ownership in that vehicle, initial purchase price plus, normal maintenence and wear and tare and items, then factor in unplanned break downs, you would be surprised at what that vehicle cost you vs always having a payment and getting a new truck.

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For 30 years I would drive 60 to 80K a year and needed dependability so every 2 or 3 years 150K to 180K miles. The last 5 I went into the office, played for a while with used trucks and sport cars driving 24 miles a day. Bought new last year, retiring this year, Ill keep it till it starts messing up to 200k miles.

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You will never be ahead as long as you're paying interest. Buying with cash and running it til at least 200k is how you get your money's worth.

disagree on multiple levels. 1. Interest rates I have been getting for the last 2-3 trucks have been from 1.49-2.5. 2% for 5 years is only 2500 interest on 50k, thats easily made up by having to replace tires and get new brakes. 2. 1.5-3% interest on a 40-50k truck is small expenditure, now when trucks used to cost 25 and interest rates were 6-10%, you might have had a point. 3. And lastly itrest only represent 1-3$ if you have good credit, which if you dont have good credit you shouldnt be buying anything new anwyays. But with that in mind your depreciation loss is 10% or greater every year you own the vehicle, interest is only 1-3%, so youll never be outmatched by depcriation. Now you could say your losing money on interest and depreciation, which you would have a point. Typcally myself I dont keep something for the full loan term, so on one single vehicle I never pay the full interest penalty. Also by trading in every 2-3 years everybody including the bank and the dealer is taking some of the hit or loss, not just me. Its really more than just interest to think about.

 

 

Very few people are keeping their truck to 200k, thats over 15 years. Im not saying its for everybody to get something new all the time. But add up every receipt you have keeping that one truck alive for 200k, I would guess unless your the guy that drives 20-25k a year, it might be more than you think. 200k on a truck to me means 4-5 sets of tires at 5-7k, thats just tires. start adding up the other stuff. Like I said everybody has different budgets, but add up everything in whole, will give you a much better picture vs just looking at payment or interest terms.

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I can't believe how many people keep them more than 50k. By then its time for a new truck with new features and a new warranty.

I kept my 2000 4x4 LT Tahoe for 101k miles. No repairs ever needed except a water pump under warranty.

 

I kept my 2006 Z71 Tahoe for about 75k miles. No repairs ever needed.

 

I plan on driving my just purchased Z71 LTZ Silverado for either 10 years or 100k miles, whichever comes first.

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You will never be ahead as long as you're paying interest. Buying with cash and running it til at least 200k is how you get your money's worth.

It depends what you consider your "money's worth". Things like the enjoyment of a new vehicle, the convenience of not breaking down or spending much time in the shop have value as well.

 

I typically buy one set of tires, the transmission oil change at 50K, and oil changes for my trucks. No desire to hear "Well she needs a new tranny, will be $4700, then you'll have a ten year old truck where the transmission is worth a 1/3 the value of the truck. Sound good?".

 

Try to avoid Mr Goodwrench like the plague.

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