How much do Bogleheads pay for their cars?

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities

How much do Bogleheads pay for their cars?

$ 5,001 - 10,000
25
9%
$ 15,001 - 20,000
57
21%
$ 15,001 - 20,000
57
21%
$ 20,001 - 25,000
53
19%
$ 25,001 - 30,000
31
11%
$ 30,001 - 35,000
17
6%
$ 35,001 - 40,000
14
5%
$ 40,001 - 45,000
6
2%
> $ 50,000
15
5%
 
Total votes: 275

Mr. Gatti
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How much do Bogleheads pay for their cars?

Post by Mr. Gatti » Wed Jun 22, 2011 7:27 pm

I'm curious as to what the typical price a Boglehead pays for their daily driver vehicle. For the purposes of this poll, this is the vehicle you put the most miles on each week (ie not your Porsche that you drive only on the weekend :) )

I paid just under $25,000 in 2008 for a new Honda Accord. We put a relatively low amount of miles on the car (still under 30,000) and plan to drive it for many, many years.

For the poll, please choose the amount you paid for the vehicle, not the current value of the vehicle.

Triple digit golfer
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Post by Triple digit golfer » Wed Jun 22, 2011 7:58 pm

$16,300.

Madd Hatter
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Post by Madd Hatter » Wed Jun 22, 2011 8:21 pm

In June '08 I paid $5900 for an '01 Maxima with 94k miles. I have no plans to stop driving it.
Straight up ballin.

bwalling
Posts: 55
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Post by bwalling » Wed Jun 22, 2011 8:21 pm

Previous car was an Accord for $13K used (30K miles). Current car is a Lexus for $23K used (30K miles).

Alex Frakt
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Post by Alex Frakt » Wed Jun 22, 2011 8:26 pm

$29k (+ tax) for our 2003 Acura TL. Only because my wife insisted on a "luxury" car. Only other purchases (I've had a few hand-me-downs) are $17.5k for a 1997 Subaru Outback Sport (Impreza Wagon) and $9900 for a 1991 Peugeot 405 (purchased new at a deep discount when Peugeot pulled out of the US).

Our next car will be well under 25k.

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wander
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Post by wander » Wed Jun 22, 2011 8:28 pm

I Paid $22,000 for the car, been keeping it for 14 years, put 280k miles on it.

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norookie
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Post by norookie » Wed Jun 22, 2011 8:35 pm

:D Recall your wax OP. I'll never pay more than 40/50% off retail. I know cars. A friend w/a junk yrd in 93, gave me a few donated kars for kids he fixed and used for business, till they died. Then he crushed them for the scrap yard they were originally meant for. No more than 10-13k cash, its a car! :roll: THIS WAY, your insurance is your call. It takes considerable thought. GOOD LUCK! :D
Last edited by norookie on Wed Jun 22, 2011 8:53 pm, edited 1 time in total.
" Wealth usually leads to excess " Cicero 55 b.c

JoeSchmoe96
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Post by JoeSchmoe96 » Wed Jun 22, 2011 8:35 pm

$16,000 for a 2003 Altima w/ 30k miles in Nov 2005, now have 120k miles; no major repairs except a new AC.

marcwd
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Post by marcwd » Wed Jun 22, 2011 8:45 pm

I paid $16,600 in 2007 for a new Honda Accord.

Flashes1
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Post by Flashes1 » Wed Jun 22, 2011 8:46 pm

Paid $4,000 18 months ago for a 2002 Chrysler 300 with 100,000 miles. Runs like a champ.

S&L1940
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Post by S&L1940 » Wed Jun 22, 2011 9:00 pm

bought a 2008 Maxima - new - and intend to drive it for a minimum of ten years. (we are averaging just about 7,000 miles per year). paid $31K with all the bells and whistles and plan to go bare bones on the next one when the time comes.
Don't it always seem to go * That you don't know what you've got * Till it's gone

mortal
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Post by mortal » Wed Jun 22, 2011 9:31 pm

Paid 14500 for my 06 miata in 2009. Love that car. :P

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TenS2XS
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Post by TenS2XS » Wed Jun 22, 2011 9:46 pm

I paid around $18k for my current ride...brand new in 1998. I take good care of them and drive 'em for about 15 years. Just basic transportation models with a few nice options. However, I'm thinking of splurging a bit on the next one. If I don't buy something sporty/luxurious this time around, I might not be able to really enjoy the performance with the one after that.

Manbaerpig
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Post by Manbaerpig » Wed Jun 22, 2011 9:54 pm

after financing between 45-50 for my 335i

chipped it runs 12s :)
plan on ownership through approx years 10-12, total cost of ownership in that context not terrible, imo

Elysium
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Post by Elysium » Wed Jun 22, 2011 10:01 pm

Manbaerpig wrote:after financing between 45-50 for my 335i

chipped it runs 12s :)
plan on ownership through approx years 10-12, total cost of ownership in that context not terrible, imo
You plan to hold that 335 for 10-12 years? how much will the twin turbo's cost if need to be replaced, or the fuel pumps, or fuel injectors. During warranty period on my 335, Navi failed, Comfort access failed, fuel injectors failed, and fuel pump was recalled. Did not cost a dime for me, but saw how much they were charging, could almost buy a used Corolla for the price of these repairs.

I had nightmares thinking about these things after warranty period, and so I sold within warranty period and took the depreciation, then went ahead and bought an Accord last year, paid $22K, intend to run that car for 10-12 years. Sold wife's minivan recently and bought a Prius, expect to run that too for many years. Hope someday I could afford a BMW again, but not when I have to save for retirement and save for kids college.
Last edited by Elysium on Wed Jun 22, 2011 10:04 pm, edited 1 time in total.

porro
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Post by porro » Wed Jun 22, 2011 10:03 pm

I paid cash last week; $57,955 for a 2011 Acura MDX fully-loaded, Advance and Entertainment packages, Clear Mask on front end of car, tinted the driver's side and passenger's side windows, protection package, towing package, roof rack, and Acura Care (8yr/120K miles).

I love this car. I usually keep my cars for 10 years.

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C319
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Post by C319 » Wed Jun 22, 2011 10:10 pm

Paid $41,000 cash yesterday for a used Lexus LS460. Am very happy with the purchase.

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interplanetjanet
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Post by interplanetjanet » Wed Jun 22, 2011 10:13 pm

$9890 for a brand new 2000 Toyota Corolla, in 2000. Advertised price (loss leader).

It's been a good car.

$13k for an in-warranty '98 Ford Windstar with only 8000 miles on it, bought in 2000. Ran until it was in an accident last year (no injuries).

-Janet

investor
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Post by investor » Wed Jun 22, 2011 10:15 pm

I buy new, for cash and then keep the car for 15+ years. Have had current car, Acura 3.2 TL, since Late 2000 and am long way from needing a replacement.

investor

Manbaerpig
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Post by Manbaerpig » Wed Jun 22, 2011 10:19 pm

Dieharder wrote:
Manbaerpig wrote:after financing between 45-50 for my 335i

chipped it runs 12s :)
plan on ownership through approx years 10-12, total cost of ownership in that context not terrible, imo
You plan to hold that 335 for 10-12 years? how much will the twin turbo's cost if need to be replaced, or the fuel pumps, or fuel injectors. During warranty period on my 335, Navi failed, Comfort access failed, fuel injectors failed, and fuel pump was recalled. Did not cost a dime for me, but saw how much they were charging, could almost buy a used Corolla for the price of these repairs.

I had nightmares thinking about these things after warranty period, and so I sold within warranty period and took the depreciation, then went ahead and bought an Accord last year, paid $22K, intend to run that car for 10-12 years. Sold wife's minivan recently and bought a Prius, expect to run that too for many years. Hope someday I could afford a BMW again, but not when I have to save for retirement and save for kids college.
I don't disagree, it's a gamble. my repair cost through year 7 will be zero, fwiw. hopefully if something goes it occurs in years 0-7 and not 8-10/12
my last BMW I my experience sounds like yours

coolgoose
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Post by coolgoose » Wed Jun 22, 2011 10:28 pm

Got a 98'Corolla in 03 with 60k miles for 4k....Gave it to mom-in-law.

Got a 05'Altima2.5 last year for 10k with 35k miles...running good so far :)

centrifuge41
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Post by centrifuge41 » Wed Jun 22, 2011 10:32 pm

Got a 07 Corolla in 2009 for 8.4k. Granted, it had 65k miles at the time. Running well!

wilked
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Post by wilked » Wed Jun 22, 2011 10:35 pm

Paid cash 5 weeks ago for a Mercedes E63 AMG, 2010, $63,000. I got it at 15% off the best price I could find elsewhere, so feeling pretty good about that

mortal
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Post by mortal » Wed Jun 22, 2011 10:36 pm

Manbaerpig wrote:after financing between 45-50 for my 335i

chipped it runs 12s :)
plan on ownership through approx years 10-12, total cost of ownership in that context not terrible, imo
What I love more than anything about luxury cars is how quickly they depreciate. For instance a new 45k 2009 335 is now worth approximately 30k, and that's even now that used values have firmed up a bit.

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burgrat
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Post by burgrat » Wed Jun 22, 2011 10:50 pm

I got my "new" car in January. I bought a 2008 Acura TL, Certified Pre-Owned and only 8,000 miles. Paid $20,800 cash (check) and traded in my 2003 Subaru Outback for $5000. Cost a total of $25,800 + tax for essentially a brand new car that I absolutely love! I'll drive it for many years hopefully.

Manbaerpig
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Post by Manbaerpig » Wed Jun 22, 2011 10:52 pm

while that may be true, I added financing costs and the extended warranty

also, the 07-08s held up extremely well in value when I purchased, making buying used suspect. aka 2-5k off for a car with 10k miles

what you say is generally true, but not in this specific case. if anything it isn't that used values have firmed up, it's that they've finally begun to drop.

in the market for a twin turbo 3 series and an ownership period past 10 years I looked at buying used. It didnt make any financial sense to me.

even looking at your "rapid luxury depreciation", I dont see it

KBB says $32k @ 32k miles for a 335i 09 with zero options in excellent condition, private party. ignoring what a dealer/CPO might ask

43k to 32k with 32k miles after ~3 years is horrible depreciation? o rly

a cadillac or similar can drop 45% in the same period this car has dropped nearly 25%

scrabbler1
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Post by scrabbler1 » Wed Jun 22, 2011 11:52 pm

I paid about $16,500 for a 2007 Corolla (CE) I bought new. It replaced a used 1991 Geo Prism I bought in 1992.

rocket
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$13,000

Post by rocket » Thu Jun 23, 2011 6:03 am

I buy used cars from Hertz. I have NEVER bought a new car. I paid around $13,000 for a 1 year old 2009 Corolla.

Carl53
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Post by Carl53 » Thu Jun 23, 2011 6:28 am

Paid $6300 in 2002 for my Accord with 103k miles expecting to get another 100,000 at 6 cents/mile purchase price. Now at 315K. Considering about $2000 of non-routine maintenance over the years, am now down to about 4 cents/mile.

Wifes 2000 Gran Prix was $16k with 20k miles in 01. Little non-routine maintenance and now 135k miles. This car was very friendly to someone with RA.

Big plus with older cars is dropping collision/comprehensive insurance and not getting bent out of shape if it gets a little scratch.

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Hawkeye5
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Post by Hawkeye5 » Thu Jun 23, 2011 7:41 am

$5,500 cash for a 2002 Honda Accord 4 cylinder with 105,000 just this week.

The battery cables and battery need to be replaced, and the timing belt, water pump are due also. Should last another 100,000 plus and I'll have a bit over $6000 in it.

Our 2001 Infinity, around $16,500 with 35,000 miles several years ago.

Spedward
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Post by Spedward » Thu Jun 23, 2011 7:50 am

We live in the city so we do have a car. We do however paid about 50 a month for CTA passes. When we do need a car on occasion, we use zip-car.

Leesbro63
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Post by Leesbro63 » Thu Jun 23, 2011 7:59 am

C319 wrote:Paid $41,000 cash yesterday for a used Lexus LS460. Am very happy with the purchase.
A poor financial decision....that I also have made over and over! It's not about the finances. Anything more than a Corolla is financially a waste. That being said, I have an '09 LS460 AWD and it's the greatest motoring pleasure ever assembled. Consumer Reports agrees by the way, giving this vehicle the highest "99 of 100" ranking ever. ENJOY YOUR RIDE.

beareconomy
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Post by beareconomy » Thu Jun 23, 2011 8:11 am

Fully loaded corolla s with every bell and whistle 18k otd in 2009. Have about 50k miles on it. Everything works.

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HomerJ
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Post by HomerJ » Thu Jun 23, 2011 9:11 am

Last car was $10,000 for a used Honda Civic... Drove it for 6 years, just gave it to my daughter for her college car, to replace her $2000 clunker... We'll get 10 years out of it easily.

I upgraded to a.... used Honda Civic... Paid $13,000 for it this time... I'll drive it for 7 years, then my son will be 16, and it will be his car.

Then maybe I'll upgrade to a.... used Honda Civic.

Cars are just transportation for me.

I'd never buy a new car. 2 year old used cars with less than 30,000 miles are the perfect sweet spot.

Harold
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Post by Harold » Thu Jun 23, 2011 9:23 am

~$16K cash new 2003 Honda Civic.

slick_dealer_05
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Post by slick_dealer_05 » Thu Jun 23, 2011 9:38 am

$3800 for a 2001 Hyundai Accent bought in 2004 and sold in 2009 for $1200.
$5500 for a 2003 Toyota Camry bought in 2009
Cars were bought/sold on craigslist for cash only transactions

Elysium
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Post by Elysium » Thu Jun 23, 2011 9:50 am

Manbaerpig wrote:while that may be true, I added financing costs and the extended warranty

also, the 07-08s held up extremely well in value when I purchased, making buying used suspect. aka 2-5k off for a car with 10k miles

what you say is generally true, but not in this specific case. if anything it isn't that used values have firmed up, it's that they've finally begun to drop.

in the market for a twin turbo 3 series and an ownership period past 10 years I looked at buying used. It didnt make any financial sense to me.

even looking at your "rapid luxury depreciation", I dont see it

KBB says $32k @ 32k miles for a 335i 09 with zero options in excellent condition, private party. ignoring what a dealer/CPO might ask

43k to 32k with 32k miles after ~3 years is horrible depreciation? o rly

a cadillac or similar can drop 45% in the same period this car has dropped nearly 25%
Market will not give you the numbers quoted on the internet, from my experience in buying 2 cars and selling 2 cars in last 10 months, the market for cars are very efficiently priced. There is not much room anywhere for buyers / sellers.

I sold my 335i with 26K miles for $26,000 to private party, after trying to sell it for one month to private parties and dealers. It was fully loaded with Nav, Comfort access, Cold weather, the whole works except Sports package and PDC. Car cost $44K when bought new, looked in spanking condition. Carmax offered me a paltry $23.5K, another dealer offered $24.5K. Private parties came and went, test drive, admired, looked interested, in the end everyone wanted it for around $25K. At last I sold it to a guy who gave $1000 more than everyone else. This is only because I still had warranty on it, otherwise BMW value drops like a stone in water. Lost $17K to depreciation in 3 years even with warranty and low miles.

In my area, there are plenty of 3 year old off the lease 3 series available for $25K to $27K with aruond $30K miles. I can get a 535i or a 550i for $30K to $35K.

They don't hold up values like a 3 year old used Accord.
Last edited by Elysium on Thu Jun 23, 2011 9:53 am, edited 1 time in total.

travelnut11
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Post by travelnut11 » Thu Jun 23, 2011 9:52 am

About $14K for a 2006 Honda Civic in 2009. Before that: $15K for a 2006 Honda Civic in 2008 (crashed this one hence the need for another less than a year later). And before that: 1996 Honda Civic for $8995 in 2002. Sensing a pattern?
Travel is fatal to prejudice, bigotry and narrowmindedness ...and many of our people need it solely on these accounts. - Mark Twain | | Life is either a daring adventure or it is nothing. - Helen Keller

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jasonlitka
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Post by jasonlitka » Thu Jun 23, 2011 12:19 pm

Dieharder wrote:I sold my 335i with 26K miles for $26,000 to private party, after trying to sell it for one month to private parties and dealers. It was fully loaded with Nav, Comfort access, Cold weather, the whole works except Sports package and PDC. Car cost $44K when bought new, looked in spanking condition. Carmax offered me a paltry $23.5K, another dealer offered $24.5K. Private parties came and went, test drive, admired, looked interested, in the end everyone wanted it for around $25K. At last I sold it to a guy who gave $1000 more than everyone else. This is only because I still had warranty on it, otherwise BMW value drops like a stone in water. Lost $17K to depreciation in 3 years even with warranty and low miles.
Ouch, should have gotten the sport package. Doesn't matter so much on the lesser 3s, but the 335 is hard to sell without it because everyone wants it.
Jason Litka

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dratkinson
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Post by dratkinson » Thu Jun 23, 2011 2:11 pm

$17K for '90 Mitsubishi Montero RS (new). Best vehicle I've ever owned. Jack-of-all-trades and very reliable. Working on 200K+ miles.

Of course, if I still had my '73 VW bay window bus and it had a water-cooled engine... I'd enjoy that too. Paid $5K for it in '75 (used).
Last edited by dratkinson on Thu Jun 23, 2011 3:02 pm, edited 1 time in total.

Elysium
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Post by Elysium » Thu Jun 23, 2011 2:15 pm

jasonlitka wrote:
Dieharder wrote:I sold my 335i with 26K miles for $26,000 to private party, after trying to sell it for one month to private parties and dealers. It was fully loaded with Nav, Comfort access, Cold weather, the whole works except Sports package and PDC. Car cost $44K when bought new, looked in spanking condition. Carmax offered me a paltry $23.5K, another dealer offered $24.5K. Private parties came and went, test drive, admired, looked interested, in the end everyone wanted it for around $25K. At last I sold it to a guy who gave $1000 more than everyone else. This is only because I still had warranty on it, otherwise BMW value drops like a stone in water. Lost $17K to depreciation in 3 years even with warranty and low miles.
Ouch, should have gotten the sport package. Doesn't matter so much on the lesser 3s, but the 335 is hard to sell without it because everyone wants it.
I don't think that would have still helped with getting a better price, but it would have probably widened the customer base. Anyhow, if I were to do this all over again, I will buy the car I sold, for $25K to $30K with around 30K miles and in great shape, then buy an extended warranty on it. There is always a huge inventory on 3 years old 3's.

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Random Musings
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Post by Random Musings » Thu Jun 23, 2011 3:08 pm

Come on.... Somebody has to fess up to the fact that they drive a company owned vehicle. Otherwise, how could people afford those $5,000 yachts or 95 foot watches?

RM

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aja8888
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Post by aja8888 » Thu Jun 23, 2011 3:10 pm

1998 Lexus ES300 with 37K miles on it - bought last year for $6,000 (stunningly mint).

2005 Passat TDI with 106K for $8,000 (with a new VW factory transmission) - bought in March 2011.

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soaring
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Post by soaring » Thu Jun 23, 2011 3:19 pm

1964 1/2 - new ford mustang $2,200
1973 -new chev corvette $5,200
1984 -new dodge aries $12,000
1997 -new toyota avalon $26,000
2011 -new toyota Venza $24,000 (much less quality vehicle than the avalon)

yes to company vehicle from 1991 but still have vehicle for spouse and vacations.
Desiderata

stoptothink
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Post by stoptothink » Thu Jun 23, 2011 3:22 pm

$2500 for a '97 Nissan hardbody pickup with 60k miles in '04. Now has just short of 160k and expect another 100k out of it.

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Exige
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Post by Exige » Thu Jun 23, 2011 3:34 pm

07 civic SI with 27k bought for 16k

SP-diceman
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Post by SP-diceman » Thu Jun 23, 2011 3:48 pm

Fully Loaded 2003 Corolla 15K.

For the record:
I had something done to it, and they gave me a Camry as a loaner.
To my surprise the Corolla seemed roomier and bigger inside.
(I’m 6’4)

If you have any doubts based on size get the Corolla.


Thanks
SP-diceman

BillRogers
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New Car Purchase

Post by BillRogers » Thu Jun 23, 2011 3:52 pm

Purchased 2009 Hyundai Sonata GLS with automatic brand new for $15,400 (plus tags and tax which is 3% in NC). Price included a $3,000 rebate. Car currently has over 52K and runs just perfectly. Only paid for scheduled maintenance and replaced the windshield that was hit by road debris during a severe thunderstorm. Will be replacing the OEM tires soon.

Best wishes,
Bill Rogers

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TomatoTomahto
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Post by TomatoTomahto » Thu Jun 23, 2011 4:06 pm

In the same spirit in which I "overspend" on hockey helmets and mouthguards for my kids, I spend money on a large, heavy, technologically advanced SUV. I know there are ethical questions around how I protect my family at the "expense" of other cars on the road. I try to balance it out in other ways.

So, I spent more than $50k on a Range Rover. If it's any consolation, I have typically kept cars for 10+ years.

bh
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Post by bh » Thu Jun 23, 2011 5:57 pm

last vehicle purchased; approx $6,700........7 or 8 yrs old with 99k miles

plenty good vehicles in the 7k-10k range if a bit of age/miles is not dealbreaker

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