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SandWitch · 26-30, F
Any car that's older than 8 years old is not a candidate for a trade-in allowance at a NEW car Dealership. They don't want anything older than 8 years on their lot to re-sell. Your only choice is to go to an auto wholesaler and either cash it out for it's residual value, or trade it on something just as old or older from the Wholesaler who has a lot full of old cars. That is why hanging onto a car beyond 4 years of age or 50,000 miles (80,000 kms) whichever comes first, is financial mismanagement of a depreciating asset.
swirlie · 31-35, F
@Neman1622
No, that is not true. There was a Mazda and a Volvo in my family which each lasted 300,000 miles before parts were no longer available for the Volvo and structural integrity was no longer enabling the Mazda to remain roadworthy.
When you keep a car that long, you now incur maintenance expenses that are beyond normal running maintenance which will become equal to a new vehicle's annual depreciation value if amortized beyond the car's 4 year anniversary and it's present age. This means you are not saving a cent by driving an old vehicle instead of trading it in every 4 years.
No, that is not true. There was a Mazda and a Volvo in my family which each lasted 300,000 miles before parts were no longer available for the Volvo and structural integrity was no longer enabling the Mazda to remain roadworthy.
When you keep a car that long, you now incur maintenance expenses that are beyond normal running maintenance which will become equal to a new vehicle's annual depreciation value if amortized beyond the car's 4 year anniversary and it's present age. This means you are not saving a cent by driving an old vehicle instead of trading it in every 4 years.
swirlie · 31-35, F
@Neman1622
I actually don't think your experience has been better than mine at all, Neman! I'll just bet it doesn't actually match mine!
IF you even own a Toyota with 350,000 miles on it, then you're on your 4th set of tires, your 4th set of belts and hoses, you would have had at least 6 tuneups since the car was new and you'd be on your 4th exhaust system, in addition to being on your second transmission since statistically they don't last longer than 200,000 miles and most likely you're second engine as well because the average Toyota engine lifespan is 296,000 miles.
With all that extra maintenance expense beyond the normal servicing of the vehicle, you will have spent the equivalent of a new car's annual depreciation on that extra maintenance alone, which means you could have been driving a new car all those years for the same maintenance-free depreciation cost as running an old piece of crap for 350,000 miles. I'm surprised a smart guy like you hasn't figured that out yet.
In addition to all that, you live in the State of Maine which uses a ton of road salt every winter and if you actually own a Toyota in truth, the car's body will be totally beat from the salt by now and the vehicle won't even be roadworthy if you're still driving it.
I actually don't think your experience has been better than mine at all, Neman! I'll just bet it doesn't actually match mine!
IF you even own a Toyota with 350,000 miles on it, then you're on your 4th set of tires, your 4th set of belts and hoses, you would have had at least 6 tuneups since the car was new and you'd be on your 4th exhaust system, in addition to being on your second transmission since statistically they don't last longer than 200,000 miles and most likely you're second engine as well because the average Toyota engine lifespan is 296,000 miles.
With all that extra maintenance expense beyond the normal servicing of the vehicle, you will have spent the equivalent of a new car's annual depreciation on that extra maintenance alone, which means you could have been driving a new car all those years for the same maintenance-free depreciation cost as running an old piece of crap for 350,000 miles. I'm surprised a smart guy like you hasn't figured that out yet.
In addition to all that, you live in the State of Maine which uses a ton of road salt every winter and if you actually own a Toyota in truth, the car's body will be totally beat from the salt by now and the vehicle won't even be roadworthy if you're still driving it.