[taxman89]

curious to know what everyone’s thoughts on purchasing cars are.

IE do you buy new, lease, buy 2 year old car what, and also what brand/model car you have had good/bad experiences with.

wife’s car is an 07 nissan with about 70k on it and i am trying to decide if i should trade it in before i get hit with some repair bills. currently worth about 5K trade in value…could trade it in for like a camry with 20K miles for about 12-13k (less trade value obv)

I find it really interesting how differently people treat their car situations (old boss traded anything it as soon as the warranty ran out….her boss drove them in to the ground (150-200k miles)) so i wanted to get people’s opinion on here….any excuse not to do MCQs right?

AUD - 75
BEC - 77
FAR - 78
REG - 82

AUD: 61-67-75 (Thanks ninja aud)
BEC: 77
FAR: 78
REG:69-73-70-82

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[y_u_no_pass]

Well I always had very bad cars (no air, 200k miles, other mechanical issues). I got a used one last year when I started working full time that has 90k miles. It is in pretty good shape and I plan to drive for at least 2-3 more years. I think if your car is decent, not breaking down too much, and has air, you should keep as long as possible.

Florida CPA!
Took final exam 2/25/15.
Sent in Application 3/12/15.
Issued License 3/20/15.
Used CPA Excel solely for all exams.

[Missy]

Buy vs Lease depends on a lot of things, average miles driven per year, whether it is important to have a “new” car every 3 years or driving an older car is ok. Nowadays high mileage is not a deal breaker, I know people who still have great cars over 200k because they are well maintained.

I personally would never consider buying brand new. Only time I did, when I was MUCH younger, I got a brand new kia rio for about $4500 (manual transmission, no a/c, no power windows or power steering but still cheaper than anything I found used)

Never thought I'd be the kind of girl who was undyingly devoted to one make/model of car but since I bought my Jetta 3 years ago I swear I will never drive anything else!

Old timer,  A71'er since 2010.

Finance manager/HR manager

 

 

Licensed Massachusetts Non Reporting CPA since 2012
Finance/Admin/HR Manager

[Anonymous]

I bought NEW (like 15 miles on it new) 4 years ago when I was 35 yrs old … Yep first ever brand new car …. everyone told me not to buy new… buy used because of the depreciation (thank goodness Im an accountant LOL) but threw caution to the wind and bought it … It was a Honda CRv

Well I was in a wreck about 2 weeks ago (TBoned … How fun is that studying for the CPA) and the car was totaled … The money I got from the ins co was outstanding so I bought new again …

I wont lease too many restrictions … At least if I buy its mine (well the banks) and I can do what I please

[jbarwick]

It depends on a few things if I will buy a particular car:

1. Is this the first year of a model refresh? If so, do not buy. Usually bugs.

2. What does a 1 year old model of this car cost? Similar price with 10K+ miles? Buy new.

3. Is it German? Repairs will cost you as we drive 2 German cars.

4. Other various personal preference things.

Also a lot of people buy more car than they need. People buy trucks and SUVs and they will hardly use the space. We have a UHaul dealer down the street and I can rent a truck for $20-$40 a day and turn it back in if I ever need that.

I drive a 2012 VW GTI and love it. I have hauled a ton of crap (literally manure), ladders, wood, trees, and all sort of things and space have never been a big issue. As I stated above, I will just rent something if I need more room. Plus I am partial to a 6-speed and rowing gears.

Journey Started - January 2015
FAR - 4/2015 - Passed
AUD - 7/2015 - Passed
BEC - 8/2015 - Passed
REG - 11/12/2015 - Passed

[Lari Sa]

Bought a 2004 Toyota Solara with 63k in 2008 when i was still a student in college, absolutely love the car and still own with 125k. If we weren't planning a family sometime soon, i'd drive the car til it dies on me. Don't have to much trouble with repairs, just regular car maint stuff every little while, new tires, brake changes, things like that.

AUD 85 (11.10 - expired), 0 (2.13), 82* (5.13)
BEC 49 (5.09), 38 (5.11), 75* (10.11)
REG 65 (2.11), 74 (11.11), 0 (2.12), 81* (4.12)
FAR 67 (5.12), 73 (12.12), 78* (2.13)

[Anonymous]

I didn't buy a car until I was 27. Poor kid: rode this bus through high school (drove my grandparents' car occasionally to run errands and such), worked/lived on campus all through college and lived in an apartment on the train line in Dallas after graduation.

Bought my first car, a new Honda Fit. Love that car. I plan to drive it to 200K.

If I had to do it again, I am not sure if I'll buy new again or just use CarMax, etc. I would never lease a car. Dave Ramsey be damned, I sort of feel like treating yourself to a brand new car every 8-10 years is a wiser move than buying used more frequently and dealing with the car troubles.

But I start my new public tax gig in downtown Dallas in July and am moving to an apartment six walking minutes away. So it might take me a WHILE to get to 200K miles. 🙂

[JessF]

“Run it into the ground” people here. I don't consider 150k-200k “the ground” though (assuming the car is well maintained). My parents vehicle has 300k+ on it and still runs very well.

We bought a 2006 Malibu in 2008 with 50k on it. Flash forward to 2015, it has 150k on it and still drives really well. We've never had maintenance issues that were anything more than wear & tear. We haven't had a car payment in years, and I love that fact! With 70k on it, I'd still consider your wife's car pretty young 🙂 Heck I still consider my car young when I see cars with double the miles on it still going strong!

It does seem like I receive a notice in the mail for a recall every month though for the Malibu. We've never had any problems listed on the recalls, and the dealership will fix everything up for free, but it is a bit unsettling to see so many recalls on it. Makes me question whether I'd get Chevy again!

I don't think I'd ever buy brand new. I'm one of those that feel they depreciate too quickly to be worth the brand new sticker price.

BBA Accounting 12/2013
FAR - July 2015
BEC - Aug 2015
REG
AUD

Gleim

[Anonymous]

JessF – my 2008 Pontiac G6 is the same, it seems like there are constantly recalls, even though we haven't had any problems with it.

I bought a1999 S10 brand new after having several horrible used cars. I finally sold it last fall. I would never buy new again.

In 2005, we bought a 2002 Pontiac Sunfire with about 42,000 miles, it now has 141,000 miles on it, and we are planning to keep it until it dies, which people keep trying to arrange. I have had two accidents that were the other driver's fault (rear ended at a stoplight and t-boned by a driver pulling out of a parking lot). The second one totaling the car out, and we bought it back from the insurance company for $300.

In 2010, we bought a 2008 Pontiac G6 with about 39,000 miles. This was supposed to be my car, but the wife decided she liked it and didn't want to drive a Sunfire in front of her coworkers at the time, and now she refuses to give it back.

Whatever we find to replace the Sunfire in a couple years will probably follow the same pattern, 2-3 years old with about 40,000 miles.

[StephAV]

I drive a 2008 Saturn VUE, purchased used in 2009. It was a Hertz fleet car. I mostly like it. I think it had 45k miles when I bought it and now we are up to 110k. I bought this car because I wanted a small SUV. At the time we had a 1 year old son and we had 2 boxers. I looked at the competition, the Rav4 and the CR-V and thought they were just too expensive. I think with Toyotas and Hondas that hold their value really well, it might make sense to buy new and drive it forever. Anyway, now we have 2 kids and our boxers are old. I've been thinking of downsizing to something more fuel efficient, but with gas prices so low right now, the desire has been less intense. Also, my husband had a little 2001 chevy s-10 with the jump seat in the back (not exactly a family car) when we bought my car. He was hit by a flat bed tow truck a few years ago and totaled his s-10. We got him a used Tacoma with the full extended cab. The cab is more spacious than my SUV! Also, he doesn't drive it, he has a work van. If it were up to me, we'd go down to one car for a while. I could drive the truck. We could pay cash for a nice fuel efficient car once we are ready. My must haves are leather, air, heated seats and power doors/windows. I'd like a sunroof too! Just because I've never had one.

At this point the plan in my mind is to wait until our dogs pass away and our boys are a bit older (currently 7 and 3 and they just absolutely TRASH the back seat of my car). Then I'll buy a used sedan with all my bells and whistles. Maybe even pay cash.

FAR - 7/13 - 72, 11/13- 74, 2/14- 82!!! Best score ever (for me)!!!
BEC - 1/14 - 75!!! Perfect score! First Pass! YAY!!!
AUD - 8/14 - 80!!!
REG - 5/14 - 72, 10/14 - 66, 1/15 - 78 - DONE FOREVER!!!
I did 5 of the UNA and CPAExcel classes to earn units.

[taxman89]

thanks for all the responses everyone! i prolly wont replace the car since it has hardly any miles on it. the only reason i am even looking into it is because it has been in the shop a couple time in the last 2 months with rust related issues (ie part not working because it rusted away…not appearance rust issues) which i assumed was because its olderish

AUD - 75
BEC - 77
FAR - 78
REG - 82

AUD: 61-67-75 (Thanks ninja aud)
BEC: 77
FAR: 78
REG:69-73-70-82

Aud-75 3x I knew i never liked you
Bec-77 1x being in the bubble is stressful
Reg-82 4x its not me its you...and no we cant be friends
Far-78 1x easiest section

[Skynet]

Drove a Toyota once with over 200K miles on it.

AUD - 90
BEC - 78
FAR - 84
REG - 87

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - In Progress
Phase III : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase IV : Form the new Charlie's Angels with Megan Fox, Scarlett Johansson, & Gal Gadot
Phase V : TBD

BEC : 78
REG : 87
FAR : 84
AUD : 90

World Domination Plan

Phase I : Pass CPA Exams - Complete
Phase II : Megan Fox - Initiated
Phase III : Bring back 8-Tracks
Phase IV : Megan Fox & Scarlett Johansson Lingerie Pillow Fight
Phase V : TBA

[san4596]

I always buy new, and a lease is a trap in my book. I buy new to drive it until 150K-200K miles, and then replace after saving a little more for a down payment. I also make sure to only have 1 car payment at a time. Where I live you basically are required to have 2 vehicles.

CPA EXAM: DONE!!!!
Ethics Course: Passed
Application Mailed: 3/16/15
Professional Conduct Exam: 97
Certification Date: 4/2/15!!!

[Author]

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