When to keep or replace a vehichle

[Nick87]

So im having a littleninternal conflict here. We have 3 vehichles. All paid for. My wife's 2021 with 80k miles, my daily commuter/work car 2010 with 130k on it. My pickup 2016 with 125k. None if them are in need of replacing at the moment. However my truck is rusting like no other and it is a real eye sore. It's gonna cost a decent amount to fix that if I really want to. My thoughts are this if we continue without replacing all 3 are probably going to be needed to be replaced at around the same time. Which I do not want to do as there will be a payment. If I really wanted to we coukd probably buy the next one outright but I do not like handing over large sums like that, I'd rather make a payment as crazy as that sounds. So there will always be a payment when we purchase a vehichle. Are we better to start upgrading one of my two now to avoid having these vehicles tht need replaced or major unexpected repairs at once? Having no payments has been great the last few years but let's be honest vehichles have a shelf life as much as we all hate buying them I can't be without them. Hoping someone here who is better with finances may have this figured out already. @SAJ-99 @brymoore @TN2shot07 ?

 

[The_Jim]

I drove my last service truck to 325k - there’s still a crew using it now. It’s up to 340k. Of course we did some routine maintenance but all of it was much less than a replacement. All that to say, if you take care of them they last a long time.

You may want to replace all 3 vehicles but I doubt it becomes a need to replace all 3 at once.

 

[Nick87]

You may want to replace all 3 vehicles

No I really don't lol. I just feel like there comes a time when you have three clapped out vehichles in a few years from now. Vehichles are expensive but so are unexpected repairs these days. Miles don't worry me as much as miles/age combined.

 

[np307]

What kind of vehicles are we talking about here? I'm usually buying vehicles at 110k, not looking to sell them. But I'm not in the land of rust either so that's a big difference.

 

[Nick87]

What kind of vehicles are we talking about here? I'm usually buying vehicles at 110k, not looking to sell them. But I'm not in the land of rust either so that's a big difference.

I dont usually buy brand new either. Except the wife's car we did in 2020. With the interest rate it would have been dumb not to. Keeping in mind my daily commuter is anywhere from 35 to 90 miles one way depending where im going.

 

[buckbull]

Sucks to be a fleet owner. I was maintaining 4 cars between myself and kids, something always needed worked on. Illinois salt is a ram and silverado killer.

 

[Nick87]

Sucks to be a fleet owner. I was maintaining 4 cars between myself and kids, something always needed worked on. Illinois salt is a ram and silverado killer.

I hate having two vehichles but I need a truck quite often and the gas would kill me. I think driving the cheaper work car pays off in the end but with insurance and all that sometimes I wonder.

 

[buckbull]

I hate having two vehichles but I need a truck quite often and the gas would kill me. I think driving the cheaper work car pays off in the end but with insurance and all that sometimes I wonder.

I did that for a while. 100 mile round trip to work in a 4x4 truck was a killer. I bought a small suv to commute in to keep miles off the truck. Not sure i saved money. The suv was easier in traffic. I ended up getting rid of both and replaced with a ford ranger. Another compromise. I really like it. Its just me and the dog now so dont need all the room that you do.

 

[Nick87]

I ended up getting rid of both and replaced with a ford ranger. Another compromise. I really like it. Its just me and the dog now so dont need all the room that you do.

That's definitely been bouncing around in my head as well but with a family with three boys. Idk how the room would be then again me and my siblings rode around an a 90's three door extended cab.

 

[El Jason]

I’d drive the commuter into the ground. 80k on a 21 is pretty new.

I’d probably look at a pickup solution if it’s truly rusting apart .

 

[mtmuley]

I don't have the rust problem. My rigs are well maintained but older. Gonna keep them running a lot longer. mtmuley

 

[Nick87]

I’d drive the commuter into the ground. 80k on a 21 is pretty new.

I’d probably look at a pickup solution if it’s truly rusting apart .

Commuter is 2010 with 125k. Will more than likely drive that one into the ground or until a repair exceeds its value which at this point won't take much. Car you were referring to is wife's Honda. No plans of getting rid of that anytime soon. You either misread my post or I did yours.

 

[brymoore]

Until the last two years, I was a buy used for cash and drive into the ground guy. Buy the replacement vehicle out of the cash I had at the time.

Used vehicle prices exceeded my cash on hand the last two purchases.

I bought a new truck two years ago because my employee (former) pricing was equal to a two year old used vehicle retail price.

I’d treat vehicle purchases as a bad investment. If you know you want to replace three, figure out the value now and replacement vehicle cost. I’m not sure if you could afford to pay off a car note in two or three years. If you can, do one at a time or two if you can afford the payments.

I hate buying vehicles from a money standpoint but I really like my new truck.

 

[Nick87]

probably look at a pickup solution if it’s truly rusting apart .

Body is going fast and I know its not mechanical but my god it drives me nuts.

 

[gburk]

Sucks to be a fleet owner. I was maintaining 4 cars between myself and kids, something always needed worked on. Illinois salt is a ram and silverado killer.

Our fleet is at seven and if the roads had salt I don’t know what I’d do. One suburban has 360k and I have no intention to get rid of it. If I was in n Illinois, or central Ny, where we’re from, the calculation would be totally different.
Down south I tend to favor gas guzzling body on frame vehicles that are easy and cheap to work on, and keep them forever. Up north i might just find lease deals, instead, and keep flipping. My brother in law has done that pretty successfully - there’s usually an unpopular car with a lease deal that makes pretty good sense. Different mentality though.

 

[MTLabrador]

I’m glad we don’t usually have much rust to deal with around here, that would really suck. I’m not always a Ford fan, but at least you wouldn’t have to worry about body rust, just underneath.

 

[Nick87]

I’d treat vehicle purchases as a bad investment. If you know you want to replace three, figure out the value now and replacement vehicle cost. I’m not sure if you could afford to pay off a car note in two or three years. If you can, do one at a time or two if you can afford the payments.

I hate buying vehicles from a money standpoint but I really like my new truck.

I hate it as well but its a necessary evil. No getting around it. One payment is definitely doable. That's what im trying to avoid is having more than one at a time. But having zero payments is nice.

 

[Nick87]

I’d treat vehicle purchases as a bad investment.

I told the wife its one of the only things that cost that much that you are guaranteed to lose money on.

 

[mtmuley]

My strategy for my truck purchases was under 100K and less than 10K. Pay cash. Can't do it these days. But, I still have the last one I did this way. Gonna turn 200K on an antelope hunt in a couple weeks. mtmuley

 

[SAJ-99]

So im having a littleninternal conflict here. We have 3 vehichles. All paid for. My wife's 2021 with 80k miles, my daily commuter/work car 2010 with 130k on it. My pickup 2016 with 125k. None if them are in need of replacing at the moment. However my truck is rusting like no other and it is a real eye sore. It's gonna cost a decent amount to fix that if I really want to. My thoughts are this if we continue without replacing all 3 are probably going to be needed to be replaced at around the same time. Which I do not want to do as there will be a payment. If I really wanted to we coukd probably buy the next one outright but I do not like handing over large sums like that, I'd rather make a payment as crazy as that sounds. So there will always be a payment when we purchase a vehichle. Are we better to start upgrading one of my two now to avoid having these vehicles tht need replaced or major unexpected repairs at once? Having no payments has been great the last few years but let's be honest vehichles have a shelf life as much as we all hate buying them I can't be without them. Hoping someone here who is better with finances may have this figured out already. @SAJ-99 @brymoore @TN2shot07 ?

Not sure I have a great answer. Sounds like you are thinking about it the right way. I have the same debate about vehicles. I did put the wife and I on different “schedules”’for vehicles. Hers 2019 and mine 2022 (but purchased in 2023). It’s a budgeting issue. You can keep them all and just budget like you bought a new one, saving that payment until you need it. Depreciating assets are the worst.

I remember the effects of the IL salt and humidity on the cars I owned. I feel your pain. I do remember owning a jeep that had rust and I traded it for a new one and regretted it for the next 6 years. Part of that was Chrysler building shitty vehicles after Y2K and me not believing it. I get the rust part, but if that vehicles works I would just keep it, at least until you see the road when you look down at your feet. Gotta draw the line somewhere and that was always mine.

If you do buy a “new” one, there are ways to save. Like big firms doing vehicle rolls. I’m sure there are guys on here that can give assistance on when and where to look for some deals.