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Americans can no longer afford their cars
(www.newsweek.com)
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this post was submitted on 16 Jan 2024
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I buy much older vehicles, know how to fix them, and generally will keep them a few years and sell them at a non loss. I've done this for nearly 25 years, never spent more than $1,000 to repair a vehicle in a year (only happened thrice in 25 years that I've come close to $1,000) and in all but those three times I've never spent over $500 a year in maintenance on any of them.
Never had a car payment. Always kept at least two vehicles. Before family life it was a daily driver and a sports car of some sort. I'd sell the sports cars before they'd even need a new set of tires. Never lost a dime on any of those. Camaros, corvettes, s2000, etc.
Learn to fix your cars and options get way nicer if you want to be cheap about it. A 12 year old car doesn't really depreciate that much if you keep it a few years. A 2009 will be found for about the same price as a 2006.
Currently I have an 08, an 06, and a motorcycle from 96.