Vehicle aging - Upgrade or keep & repair

So this is quite a general question but we all face it when owning vehicles. Do we buy new, keep a few years, trade up early? Or buy new and run it to the ground but paying the repair bills in its later life? Then the option of buying second hand comes into play? Probably won't get into business buying just yet.

There are numerous possibilities, and personal circumstances vary, but are any of them the best financially?

With an 8 yr old vehicle but only 140k, my mind is ticking over thinking what to do in the next couple of years. It's close to the age where things start playing up.

I'm interested in hearing if anyone has any strong beliefs when it comes to vehicle depreciation and when it is best to upgrade.

Guido

For me it's been on an as-needs basis. My Kombi was a piece of clapped-out sht so I needed to replace it. My L300 was tall, awkward for what it was and incapable, so we jumped to a Magna wagon. The Magna hated pulling a 1-tonne caravan so we ditched it for the Commodore. The Commodore couldn't get traction on grass if there was roo spit within a kilometre so we arrived here.

I don't believe in changing for the sake of change, mostly because I can't afford that, my last name isn't Trump or Packer. I'll change when I need to, and if I lose a bit of money because I've done a repair just before I change then that's the way the cookie crumbles.

I think I've arrived at some longevity though. I am looking at some minor changes, but nothing that could make me change vehicles yet.

Buy it new and run it to the ground.

Both my utes were bought new but it kind of works out better that way because I buy (borrow for them) through my business. My 2wd is paid out now but there is no reason to trade up. If my business is doing ok when The Nav is paid off I would probably trade up to a new one. Will decide when the time comes.

I plan on keeping my D22 for sometime. When its paid off Ill keep it and buy another car/ute aswell.

I know its full history, so Ill keep it until I see it not worth keeping anymore.

Dave.

I plan on keeping mine until it is 10 years old then going to a Patrol.

hmmm im in the same question atm.

my navara is breaking alot more stuff now (mostly my fault), and with a work car i can go weeks without driving my car.
so i think im on the verge of selling my navara investing the money and just using the work car, once i have enough money i will be looking to buying a brand new car.
i have beenn thinking when will the new patrol come out, if not a 76 series cruiser wagon.

guido, i think you need to think about your navar do you reckon you will have anymore problems in the next few years that would justify the cost of selling and getting a new car.
are you planning on going on any big trips that you will need a set up vehicle for.
if your keen on selling your and think second hand is the go, maybe look at a truck that has alot of extra already on it, because you dont have to spend the money on it.

I'll dig up an oldie that I started 2 years ago...

Starting to have some trouble with the old girl. New alternator just done, CV's soon and oil leaks galore popping up.

Damn I'd love a new ute with warranty. But I keep telling myself, $500 once or twice a year to the mechanic is cheaper than a depreciating $50,000 new ute + loan interest, Right???

After these repairs I better get a good run from the Nav

Guido said:

I'll dig up an oldie that I started 2 years ago...

Damn I'd love a new ute with warranty. But I keep telling myself, $500 once or twice a year to the mechanic is cheaper than a depreciating $50,000 new ute + loan interest, Right???

Click to expand...

I would say so mate, repair costs may not be cheap but buying a brand new
car is always expensive, drive it out the showroom and you drop 10 grand in no time.

you could do a lot of repairs for 10grand.

so if the cars pretty good id be keeping it. but if you can afford a new one or you cars a shit heap then why not. or maybe look at buying a low k used car so you dont lose as much on depreciation.

just my 2bob

The way i figure it, i would never buy a new vehicle and pay it off if it were for personal use. The first couple of years of depreciating is devestating. Im only just looking into all this now because i require a car for work, i have ditched the company supplied vehicle and am using my own. I have looked into how much depreciation that i am looking at claiming and it seems that 25% is the current rate. Thats pretty damn scary on a brand new car.
I ended up buying a second hand ute with 65k on the clock. It was still under warranty for the first 6 or so months that i had it, so the little problems she had got ironed out before the warranty expired. Ive put money into older cars just to keep them on the road, and after weighing up the peice of mind i get from having a newer vehicle, i am happy to pay for it. Im am guessing though that after 3 or so years my tax man will tell me to sell and get a newer one for the depreciation. The more depreciation you have on a vehicle, the more you can claim back. Either way, if its affordable for you to get a newer ute, then i say go for it. A new D22 is going to set you back 30k, and for what everyone seems to be seling theirs for second hand with a few years on it (around 25k) they keep their value pretty well. Worst case, if you sell after 5 years for over 20k, thats not much of a loss considering what you might spend keeping the old banger on the road.

I've purchased 3 cars in my short driving period. One a 98 ford laser-at the time it wwas practical and got me to work and home only sold cause I got a trade apprenticeship to purchase new a 07 bt50 single cab Ute, the I sold it to purchase a 09 d22 cause I wanted to start offroading and having fun which the 2wd didn't allow me to do. So to me it comes to circumstances is why I trade in or sell etc. I will be holding onto the nav till time comes that I need to replace. Even then if its an engine seize or blown motor I'm turning it into a project car and sourcing a diff motor to do a conversion. So really forever. My big plan is to 550 when it throws it in just for fun. If it works it works if not ill source another 2.5 and swap it all in.

dont forget the cost to keep the new car warranty ($300-$1200) per service. for the pleasure of having to go to nissan and literaly beg for them not to screw u over and provide the warranty. then geting a pitance for trade in... lot to be said for driving it in to the ground.....

I was talking to my wife about this the other day, and what i was saying to her is, that new is nice but cost you all the time.
All service work has to be done by a mechanic if you want to keep your warranty, and from my experience with nissan over the last 7 years, its just easier to get them to service it and have way less hassle if you do need to use that warranty.
BUT all those services cost $250 for 10k, $400 for 20k, and over $800 for 40k, and in my case i have just done 70k in the last 12 months.

So my point is that i have just spent more on just servicing my ute then i did to repair my wifes old Hilux, replace limo diff, replaced uni joints and prop shaft, draglink and pitman arm ect

Anyway you look at it the bloody things are always gunna cast you shit loads!!

They're just a necessary evil i reckon..........