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car scenario and happy holidays

December 21st, 2015 at 04:25 pm

Okay instead of leasing a car what about buying a new car every 4 years, but keeping it 8 years? Would that make more financial sense? DH gets a new car every 4 years and I keep it another 4 years till he buys another car and hands me down the old car? We could both have subaru outbacks and we'll just be cycling through them every 4-8 years? Would that make financial sense? Yes a constant car payment but only for 1 car and it wouldn't I think break the budget. We will just be driving the same car. And if the technology hasn't improve in 4 years we hang on another year?

I was super excited after thanksgiving and then exhausted from making around 20 dozen cookies. Now that it's done I'm excited again for the holidays! I don't like the business of it but I love the season. I love the lights, the music, the joy and the feeling that another year is winding down. I know others hate getting older but I feel it's another year, another success. I'm older, alive, and have a wonderful life. I love getting older mentally (not physically). After seeing so many friends lose their parents and some friends getting ill I really do appreciate my health and family's health and well being and another year together.

My wish for 2016 is that it's as exciting and happy as 2015. I know for a fact if you had asked me in 2014 Christmas I would have said I was excited because I thought I would be moving in 2016. Now it's turned out we moved in 2015 and who knew life would be so good.

Posted in Frugal, Cars | 6 Comments »

6 Responses to “car scenario and happy holidays”

  1. Ima saver Says:
    December 21st, 2015 at 09:50 pm 1450734606
    1450734606

    It is wonderful that you are excited about christmas!!

  2. CB in the City Says:
    December 21st, 2015 at 10:26 pm 1450736805
    1450736805

    I have heard that the best value is buying a 4-year old car and keeping it for 4 years. I don't know, last time I bought a car it was one year old and I still have it 14 years later! I haven't had a car payment in years and I love it. But I'm probably unusual.

  3. Mrs. Frugalista Says:
    December 22nd, 2015 at 01:51 am 1450749093
    1450749093

    We Keep cars for a very long time, but we've gotten two cars in the last year. One of them we pay cash for it (terribly expensive but it is retired for the winter). We just financed a Chevy Trax but we intend to pay it in less than two years. This will be the last car for another 10 years or more. We just trade in our 2001 Suzuki with the purchase of the SUV.

  4. AnotherReader Says:
    December 22nd, 2015 at 06:45 pm 1450809933
    1450809933

    That's a lot of money to invest in cars, specially with one income. Subarus are expensive, costly to repair, and not particularly long lasting. The all wheel drive reduces gas mileage and is unnecessary unless you drive a lot in heavy snow.

    Around here, you can buy a new Camry LE sedan for under $20,000. Reliability and gas mileage are superior, and you should have good resale value at 8 years. I would pay the cars off quickly and put the savings from the lower initial outlay and higher resale into investments.

  5. VS_ozgirl Says:
    December 22nd, 2015 at 09:31 pm 1450819876
    1450819876

    I'm going through the same thing with my husband. He needs a car for his business and claims his car expenses but he leased an expensive truck five years ago. We are up for a $15k balloon payment in August. We could lease another car and eliminate the balloon payment but it is a good car. If we get another lease it is an expensive car payment but if we refinance by getting another loan for the amount of $15k, the payment for the next three years is much lower, even with the additional tax to pay because we no longer have a big tax deduction. I worked out the total amount paid over 8 years and averaged it out and it seems far more reasonable than the lease payments over 5 years. I would always recommend keeping cars for as long as possible because they decrease in value.

  6. livingalmostlarge Says:
    December 23rd, 2015 at 12:12 am 1450829532
    1450829532

    The car is non-negotiable. It's a disability issue and the only one he'll ever drive until the self driving car is possible. Even then we'd likely be leasing it. He is not able to drive a camry or we would just keep the hyundai sonata for many more years.

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