Who else drives over 30K miles a year?
07-02-2001, 06:27 PM
#1
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Who else drives over 30K miles a year?
My commute roundtrip to work each day is 80 miles total...add in the driving on weekends and I am at 30K miles a year. I get the 'itch' to buy a different car every 2 years or so. Given the high number of miles I drive, I cannot lease (at least I don't think it makes financial sense0 and I get killed on resale value when I try to sell/trade.
Are there any secrets out there for drivers like us that put on the miles so that we don't get killed financially? Buy New, Buy Used, Lease??
Are there any secrets out there for drivers like us that put on the miles so that we don't get killed financially? Buy New, Buy Used, Lease??
07-02-2001, 06:53 PM
#2
Buy an almost new car. Choose an unpopular car and keep it 3 or 4 yrs while
planning to basically run it into the ground. Whether it has 90 or a 120K won't matter - won't be worth much anyway ( unfortunately, Audi is in this camp for now ).
That, or get a car with high resale perception - an aspirational car. BMW, Lexus, Mercedes, etc. There will always be someone desperate to step up to the image despite the miles.
That, or get a car with high resale perception - an aspirational car. BMW, Lexus, Mercedes, etc. There will always be someone desperate to step up to the image despite the miles.
07-02-2001, 07:14 PM
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go the cheap car route
Anything you can afford to keep running. Honda is good. Some American cars are good also (think taxi's, they do tons of miles). Once you get some big time miles on it and so service is not infrequent the lower cost of servicing American cars can make up for the higher rate at which you will do it.
Best way to not lose money is to enter cheap and run the car until you can't possibly stand it (or afford the repairs) anymore. It's not a fun life though. You are doing more miles than most people and in a less fun car.
Best way to not lose money is to enter cheap and run the car until you can't possibly stand it (or afford the repairs) anymore. It's not a fun life though. You are doing more miles than most people and in a less fun car.
07-02-2001, 07:18 PM
#5
Keep the Audi for at least 60K. You won't save much if anything by swapping now.
For a dealer trade-in, the big depreciation hit is when the car is nearly new, and then again when you pass the 60/65K mark ( cut -off point for many factory pre-owned warranties ). For a private sale, it is at the 80K mark and then again around 100K.
Buy a one year old or newer pre-owned car. With an Audi, trade it in by 60K. With a BMW, hold onto it until 80K and sell it privately. You will spend less money obtaining the Audi and keep it for less time. Your outlay will be greater with the BMW, and you should keep it longer to find the optimum value balance.
Of course, this does not take into account which car you like better;-) Which situation suits you better ? Only you can decide.
Buy a one year old or newer pre-owned car. With an Audi, trade it in by 60K. With a BMW, hold onto it until 80K and sell it privately. You will spend less money obtaining the Audi and keep it for less time. Your outlay will be greater with the BMW, and you should keep it longer to find the optimum value balance.
Of course, this does not take into account which car you like better;-) Which situation suits you better ? Only you can decide.
07-02-2001, 07:28 PM
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Thanks for that great insight April & Steve......
I should have mentioned that I like to drive a nice newer car (have always bought 2 year old cars).....have owned BMW and Audi, so like the higher line car. Not interested in a driving a honda or the like..even though in the long run that might make the most economic sense.
07-02-2001, 07:37 PM
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Sigh...nothing is free! And throw in a recession!
Perhaps you'll find company in my mounful post just above. It's tough, damn tough! The best thing to do is work close to home, and then you'll have miles left over for vacations. Right now, we're in a recession in N. Virginia, so I'm having to go farther from home to work these days. My old 15 mile RT commute is now 56. So I must leave the car in the garage on weekends, or beg my boss to work at home for a few days. Lots of people out of work in the computer field. The situation changed suddenly. I may relo to Jersey if it gets any worse!
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07-02-2001, 09:03 PM
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My recent new job has me driving 3,000 miles / month!
No way am I willing to use up my A6 that fast. Fortunately, the job came with a generous car allowance. I bought a new VW GTI for work and save the Audi for special occasions and weekends. So far, it's worked out great. The GTI (with 1.8 liter 20V turbo) is a terrific car, fun to drive, nicely equipped (even includes heated washer nozzles with its $150 Cold Weather Package!).