Mastodawn

Mark Douglas Apr 8, 2023

My wife and I have 2 used vehicles. I constantly look at used vehicles and the prices are more than insane!

$20k-30k for vehicles with close or over 100k miles. Taking out a 5 or 6 year loan is insane. Every one of those vehicles are ready to start needing significant repairs. Better off just keep fixing your used vehicle... It's still cheaper. And I'm not putting $4k - 5k down on a new vehicle with $500 - $1300 a month payment. Even leases are out of reach.

https://www.wsj.com/articles/car-breakdowns-are-making-more-people-fall-behind-on-their-loans-15ed18b5?mod=e2tw

Car Breakdowns Are Making More People Fall Behind on Their Loans

Borrowers have big monthly payments for older cars and face steep bills when the vehicles need repairs

The Wall Street Journal

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Laura K. Curtis Apr 8, 2023

@MDfromNY certain cars will go forever. Others won't. I tend to drive my cars into the dirt. Only recently, as I traded in my 75k mile Volvo for a new Honda hybrid, then got a cash windfall and traded the hybrid to go full electric, have I replaced cars b4 they croaked.

I will never again buy a Jeep (engine blew on the highway at 52k--mechanic said "if you can go 60k, it will go forever. But we see a lot of Jeeps that die btwn 45-55k miles).

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Laura K. Curtis

@MDfromNY on the other hand, if I needed to buy a used car, I'd go Subaru. They are like tanks. The really important thing with any car is to find a mechanic you trust. (Especially if you're a woman.)