I got ya, WI. I was just throwing that option out there. Options are good!

Both but the internet makes it easier. Finding deals can be a lot of frustration. I have made some long drives to buy vehicles that are not like they were represented. Making a wasted trip.

It also helps to have the model of vehicles in mind you want and problem areas and what to look for in those models. For example Ford excapes have rust issues on the rear passenger side at the spring hanger.

My want to buy list is Toyota camary 120k miles or less for 6500 ( reliability and good mpg) , tundra 2021 18k or less depending on year and milage (longevity or older with v8, watch for frame rust) , maybe a 2015 -17 f150 15k or less with the natural aspirated 3.6 becuse its got aluminum body panels and its the most simple motor offered in them that year. Older f150 with 4.6 for more reliability under 130k miles 8k or less. 00-05 Ford focuse under 120k miles 4500 or less( missed a manual transmission one with 89k miles for 3500 last week sold when I was on my way to look at it) Just to name a few for an example. Having an idea of what you want and are looking at. And for helps avoid problem vehicles

Good deals sell fast so you have to be ready to move with cash fast when you see one. It gets frustrating truly good deals on nice old vehicles are harder to find ant take time and effort to find. But it saves me a lot in the long run.

In still shoping I have one son turning 16 in June, so need another truck and I want another gas saver car as well so looking for 2 more vehicles. But he may end up with the truck just bought if I find one if the more expensive trucks listed above. I will drive it 6 months until he is eligible to get his license and make sure its 100% reliable by then. Its always nice to have options.

I’ve done both, paid cash and used low interest loans with different level payments. All of the vehicles have required dumping money to keep on the road, some more than others. I suppose when a guy says he hasn’t had any issues he’s probably overlooking routine maintenance and all the small things that add up in the end. Lifetime cost of a vehicle is a lot higher than most realize.

PF tear up your formula sheet for figuring cost of a beater. Look at other thread. All the parts going up.

But seriously. It can be a giant money pit either way. Roll the dice on used. OR buy a new one if you can. No exact formula fits everyone.
Hope you guys are having a good weekend. No rain here for 10 weeks. Gotten 6 plus inches since thursday here.

Something you also missing is I can work on the old stuff or take it to independent shops. They have years fixing them and know how to find the problems. Also aftermarket parts are established and available. Need vehicle often have to be taken to a dealer, need dealer parts, need dealer computer to reset, all costing much more. The issues are not as well known and the fix worked out. So many new vehicles have issues ther is not one I want even it it were free.

No way ill ever beable to pay cash upfront for a new 60k dollar rig. Some people can, not this ol boy. Warrantys aint always what they are cut out to be. As farm said, older ones a guy can work on himself. My 98 f150 blew a plug. Mechanic wanted 500 to fix it. Bought a kit for 300 and did all the plugs myself. That was the biggest issue on the 2v 5.4, bulletproof motor other than that. Oil changes take 20 minutes, aint wasting my time to take it somewhere, even if it was free. Time is money to, dealer may do it for free but how far you gotta drive? How long does it take them?

All vehicle require matanamce and wear items replacement. Clearly older vehicles will have more wear and required more things replaced. I believe his statement is more in line with major repairs in the drive train vs replacing breaks or ball joints. Yes that can add up but most can do those repairs themselves, buy parts at the local auto parts store or upgrade to stronger off road stuff.( my choice and a good excuse to upgrade) theoretically if you keep up with inspections you know things are wearing out before they break and get them fixed when its convenient for you vs geting broke down on the road. ( but how many really check their vehicles over routinely)

.all vehicles cost money. No question about it. One method buying esp financing new at today's rates is a long term debt trap. Being careless and buying used and using the saving to build wealth is to me the smart play. The down side to theis is it takes discipline to actually invest or pay down debts vs spend it. That is difficult to do at least its tough for me. But I manage most of the time. And if I can do it anyone can im surely nothing special or talented.

Sure my way is not the only way. Just what I have learned from years worth of mistakes and thinking maybe when I post this some young ones may see it and it click helping them build wealth and reduce debt learing from my mistakes. The old guys set in their ways will just dig in and keep doing what they have been doing. Some will get defensive even. My post are not for those guys they can keep on keeping on.

Nope. My last truck I had for 15 years. The money I put into it was still cheaper than buying new. Years of no payment was huge for me and my family.

Even if you or I had 60k, that could be put on paying off any other debt maybe the house, or invested. How do yiu think I paid the house off early and am nearly debt free . Heck 60k in jepq would pay about 6k a year and pays out monthly so around 500 a month income. Just one example. That 6 k plus insurance and license plate savings sure would cover an awful lot of matanance cost on the old truck each year the rest can be used to make you more income or enjoyed. Just a different way of looking at things I guess.

I have had times I was going to drop up to 25 k on a vehicle my wifes van I talked about above. But I ran the numbers at the low intrest rate and decided I could make more using the mone to invest then the intrest I would be paying. With today's vehicle prices, there complexity, and huge problems im not even intrest.

I can spend 10 to 15 k building an old one into what I want and have what I want have it as good as new and still be tens of thousands cheaper than buying a new one with all the crap on it I dont even want.

Spending 8-10k on a beater and then dropping another 10-15k out of pocket to get back on road is not a cheap option in my opinion. Lifetime cost on vehicles have been high for me, I consider all expenses including body work, tires etc. Based on the number of vehicles in parking lots at shops in this area, most people do not work on vehicles. Also this confirms that vehicles do have issues on the regular.

You dont spend 10-15k geting it back on the road. Gave 3500 for my 98 f150 and drove it for 6 years, few tgings went wrong, alternator, starter, but thats basic stuff. After the transmission was rebuilt i didnt have much else go wrong with it. I would say under 5 grand over 6 years. Not bad imho.

Its not spending that much to get it back on the road. The truck I just bought is not a broken down beater. Infact its very nice. Yes it has a very minor start on rust but not its terrible. My Friend that was a boss man engineer at Ford looked my truck over top to bottom and we ran it with his computer hooked up to it and he was impressed. Zero leaks everything looks perfect mechanically the number on the computer look good. He said I got a very nice truck and did well. Heck I moved some stuff for my mom last week and mom rode in it and said I should trade her for her little suv so I could save on gas. She liked it enough she wanted it. I declined since I bought it becuse I need a truck. Now mom is all about appearance and wouldn't like anything or be caught dead you would call a beater.

I should be able to drive it a long time before spending any money on repairs. The tires are new breaks look great its got new ball joints upper and lower and steering stabilizer all done before I bought it. Now if I spend 15 k over the next 5 to 15 years doing preventive matanance and optional up grades thats light years ahead of paying 60k + intrest on something that will lose 60% of its value in 5 years. And it will be exactly how I want it.

Just becuse you shop around and find a low cost low mileage used car in good shape does not mean its going to thak a bunch of money to get it road worthy. But that seems to be your interpretation.

My total cost on vehicles purchase and matance for the last 10 years on my last 2 vehicles was 14 thousand. Thats 214, 000 miles driven thats what .06c per mile. Not counting gas and I had liability insurance and cheaper license and taxes than I would on a new one.

Now figure up the cost of that new truck over 10 years it higher matanance cost after the warranty runs out and the full coverage insurance & taxes and explain to me how thats cheaper. Never going to happen. And that befor figuring out the profit made from investing the cash instead of paying monthly payments. Or piec of mind you dont have any payments or the debt.

If I do optional thing to customize the new old truck like add winch bumper, line x the bed and body, put on a lift or leveling kit thats just optional and preference that would also have to be done to a new one to get it how I want it. The difference is I dont have payments to pay while making the truck what I want.

Now look at whats available on the new ones vs older trucks. My old truck has vinyl floor and crank windows and manual locks, a lever on the floor to engage the 4x4 not a switch or button. That is how I want it and I cant find a new one like that. So I can get an old truck I can drive for years as it is, but I can set it up exactly how I want it and still be tens of thousands ahead and have exactly what I want. Not a computer controlled electronic filled mess with way to complex engine and transmission with many more thing to go wrong. And carpet to try to keep clean thats a pain living on a farm and having an outdoor lifestyle.

Im sure you can buy a junk money pit if your not careful and think your ahead buying new. But I have not had
that experience.

Does it have an ash tray ?

Or a high beam dimmah switch on the floor ?

Plus it’s mom approved.

dimmer switch is on the stick not on the floor like my 66 t bird. It does have a cigarette lighter and ash tray. The ash tray is removable and opens uo another cup holder..

You can't put a price tag on that. Moms are important.

…. This post is great… thanks for sharing

No problem cuz. Not sure on that need to have Keith see how we are related though.

…. I guess we could be related…. Now that I found out my name is French by way of Vikings kicking their butt so much that ended up just giving them land in order to calm down a little lol