Home Forums Hunting & Shooting Hunter's Campfire New vehicle, when and why?

How do you decide that your current vehicle is in need of replacement? The wife's GMC 2010 SUV with the 3.5 v-6 just hit 117,000 miles and doesn't use any oil and has been a terrific vehicle for us, but now she is talking about a new one and I'm telling her that there isn't anything wrong with the old one. She has this saying: "Do you want it, do you need it and can you afford it?" Then again I have a machine shop foreman friend who says anything mechanical can be fixed. I just put a second water pump, harmonic balancer and serpentine belt in my old daily driver Buick and it runs fine again, so I'm not the one to ask. When is it time to start thinking about another vehicle?

When the old one is a GM product with 117,000 miles.

All depends on how henpecked you are.
Grins

Its never time for a brand new one.

This^^^^^

Can you pay cash for it? If so, have at it. If not ...........

When I don't trust the current one to do it's job reliably.

This

Has always been my calculation for personal vehicles.

Business much different.

Depends on the vehicle. I have gone through two '90's era GMC pickups that sailed past 200K without major problems, other than looking like crap, the steering column being loose, and the doors barely closing.

I'm a "drive the wheels off it, and then re-attach the wheels" kinda guy. I've never sold a vehicle with less than 200K on it in my adult life, except one Ford pickup.

That said, wimmenz seem to have a different standard than I do, so I'm guessing you're on the hook for an upgrade. You're going to lose that battle, so focus on tactics: take her to get a nice, but used, vehicle before she goes new car shopping.

Agree . . . Just tell your wife you'll get her a new car when you all save up the cash for it. I have found it is a really good way to determine just how bad you want to buy something . . . when you can pay cash in full. Sometimes, just the knowledge that you could buy it is satisfying enough not to spend that cash and make do with what you already have.

Agreed. Had a brake caliper blow out on me yesterday. Peddle went to the floor. Luckily I was pulling into my mechanics shop for unrelated business and not rolling down a bridge towing a boat.

When is the last time she had to call a tow truck?

Keep it until you reach the point where it is going to cost over 50% of the vehicles value to get it repaired, then let it go for scrap metal. One danger of spending more than 1/2 the value on repairs is the insurance value. You've got a vehicle worth $3000, and you spend $2000 getting it in good running condition then are in a minor accident. Your insurance company is going to pay you $3000- the deductible. I'd end up with $2500 in my pocket. With most cars and SUV's I sorta think this is a good plan. There are exceptions, for example a rare classic car.

Trucks are different. A 10 year old truck with 150,000 miles will easily bring 1/2 the ACTUAL price it sold for new. Not sticker, but the actually selling price. I think you're better off letting it go at that point, getting 1/2 your money back and starting over again. You'll never have to pay for major repairs, and never have a big payment. I like to make a small payment for 5 years, then put back an extra $100/month during the next 5 years. After 10 years I'm into another new truck with a very low payment and with today's 2% loans pay very little interest. My current truck payment is $275. Over the 5 years of the loan I'll only pay $1200 in interest. I traded in a Jeep along with some cash to get the low payment. I COULD have paid cash and not gotten a loan, but I'd have lost money. By keeping my money in the bank I'm earning more than $1200 every few months.

I didn't always follow that advice though. Most of the times I traded vehicles during my life was not because I WANTED a new vehicle. It was because things changed and the old one was no longer capable of doing what I NEEDED done. I started off single, then married, then kid #1, later kid #2. Then the kids get bigger. Then your kids want to bring friends, then one day your son is 6'4. 250 lbs and wears a size 14 shoe and he has friends the same size who need a ride home. Then they move out and you no longer need a big vehicle. Until you get grand kids, then you start over.

I'm currently driving a full size crew cab truck and the next vehicle for my wife will probably be a full size SUV to fit everyone in. I'd probably have been better off If I'd done that 30 years ago.

Same here.

With one caveat. I traded in a 2014 Toyota Camry with 87000 miles on it a few months ago because 100,000 miles is the point where they take a dramatic dump in trade in value. I commute 250 miles each way to work so fuel mileage is a big concern to me and the 2018 camry has a new engine with about 5 mpg better fuel mileage than the old ones. I did some ciphering and concluded that the better gas mileage would save me a bit of money so it was either hold on to the 2014 until the wheels came off or trade it before 100,000 while it was still worth something.

I usually drive them until they fall apart but in this case I made the trade. The older I get the less tolerance I have for old vehicles that need constant attention though. I used to not mind working on them a bit but now a missed work trip will cost me a lot of money so I can't risk older, less reliable vehicles.

That’ll get your attention. You were past lucky on that one.

The only reason to trade in one with only 117k is if you want one and can afford it. It should have lots of years and miles on it yet. You're throwing away the depreciation you've already paid for.

I started buying Honda and Toyota vehicles because I got tired of the "trade it in on a new one every 5 years" routine.

when I don't think I can just hop in with pretty much no worries...…..I get a new one...……….bob