Have you ever replaced a perfectly fine car just because?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
mhalley
Posts: 10388
Joined: Tue Nov 20, 2007 5:02 am

Re: Have you ever replaced a perfectly fine car just because?

Post by mhalley »

I mentioned Ramit in my previous post. His interviews are very interesting. It is fascinating how many multimillionaires still have a severe scarcity mentality due to their childhood financial woes. So people will lead financial lives as if they made 50k when they make 500k.
rustlers
Posts: 188
Joined: Fri Jan 15, 2021 7:41 pm
Location: SF Bay Area

Re: Have you ever replaced a perfectly fine car just because?

Post by rustlers »

What good is money if not to buy stuff?
Buy the car you love, then love the car you buy.
H-Town
Posts: 5830
Joined: Sun Feb 26, 2017 1:08 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by H-Town »

rustlers wrote: Sun Feb 11, 2024 8:54 pm What good is money if not to buy stuff?
Buy the car you love, then love the car you buy.
I thought the whole point is to be free from money, no?

Make money, spend it, and repeat the cycle seems like a rat race. Sure if OP makes 500k, and that’s the only thing he spends is 65k+ car. Our household income is in the same range, we know how expensive taxes are. We know bigger house comes bigger expense. We know luxury cars call for the next luxury car in 3-5 years. We know we gonna spend more on internstional trips. We know kids will get the best private school. Things add up, man. It’s never just a car.
Time is the ultimate currency.
tibbitts
Posts: 23237
Joined: Tue Feb 27, 2007 5:50 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by tibbitts »

H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
billaster
Posts: 2769
Joined: Wed Apr 27, 2022 2:21 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by billaster »

Marq1 wrote: Sun Feb 11, 2024 4:25 pm If you think people are impressed by the vehicle you dive, if you think you need something beyond a Yugo, spoiler alert ...
A Yugo with a spoiler! Now that's the ticket.
User avatar
skipper
Posts: 238
Joined: Mon Nov 19, 2018 8:52 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by skipper »

Yes. Prior to 2012, traded a 1-year old 528i for a Suburban "just because" we needed to carry stuff. Traded a 2-year old Jeep for a Durango "just because" we needed to carry kids. Traded a 2-year old Durango for another Suburban "just because" it carried kids and stuff better than the Durango. These were all wife-mobiles and the real "just because" was just because she went, "Ooooooh!"

Just bought a 2022 GX460 for the wife. She likes the look, the ride, and it pulls her kayak trailer. I like the V8, full time 4x4 and it's so easy to work on; I do all my own maintenance. I wanted the tried-and-true older model before the redesign and twin turbo V6. Hoping this one lasts 20 years like the 4Runner that's still with us for backup duty. Do it- Lexus rules! :beer
Last edited by skipper on Sun Feb 11, 2024 11:18 pm, edited 1 time in total.
by Hyperchicken » Tue Feb 13, 2024 2:28 pm | | ... Dang. That rat and pellet thing is pretty depressing. | Guess I better get back to work.
snowday2022
Posts: 638
Joined: Sun Jan 16, 2022 1:48 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by snowday2022 »

tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.
H-Town
Posts: 5830
Joined: Sun Feb 26, 2017 1:08 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by H-Town »

tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
Wow, I never know how lucky I am that I never want much. Things that I enjoy don't usually carry a high price tag. I'm glad most people keep working and spending though. More power to them.
Time is the ultimate currency.
rockstar
Posts: 6189
Joined: Mon Feb 03, 2020 5:51 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by rockstar »

I got rid of my last car after 12 years. I’ve had my current one for a little over 5. Not many miles because of lockdown. I’m starting to look at new Toyotas, but a lot are now first generation models. So I’m holding off for now. I also had a 4 year note, so I like not having a car payment. I might actually like not having a car payment more than getting something new.

Is this new vehicle really going to improve your quality of life? The new Land Cruiser is coming out. I’d give it one or two years to see if that might make a better replacement in the near future.
User avatar
skipper
Posts: 238
Joined: Mon Nov 19, 2018 8:52 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by skipper »

snowday2022 wrote: Sun Feb 11, 2024 10:09 pm
tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.
That may be true, but taking the onramp from the treadmill to the open road and beyond improves the experience immensely. :beer
by Hyperchicken » Tue Feb 13, 2024 2:28 pm | | ... Dang. That rat and pellet thing is pretty depressing. | Guess I better get back to work.
the_wiki
Posts: 2704
Joined: Thu Jul 28, 2022 11:14 am

Re: Have you ever replaced a perfectly fine car just because?

Post by the_wiki »

snowday2022 wrote: Sun Feb 11, 2024 10:09 pm

On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.


On the flip side, what is the point of keeping the bank account at maximum, if you have no plans to spend it on anything? There also seems to be a cash hoarding treadmill popularized on this site.


With the OP's salary, even a brand new LX is like the average family buying a VW Jetta.
H-Town
Posts: 5830
Joined: Sun Feb 26, 2017 1:08 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by H-Town »

the_wiki wrote: Sun Feb 11, 2024 10:28 pm
snowday2022 wrote: Sun Feb 11, 2024 10:09 pm

On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.


On the flip side, what is the point of keeping the bank account at maximum, if you have no plans to spend it on anything? There also seems to be a cash hoarding treadmill popularized on this site.


With the OP's salary, even a brand new LX is like the average family buying a VW Jetta.
@OP: can you humor us and share the breakdown of your spending? Just so we don't think you can buy several 65k cars.
Time is the ultimate currency.
the_wiki
Posts: 2704
Joined: Thu Jul 28, 2022 11:14 am

Re: Have you ever replaced a perfectly fine car just because?

Post by the_wiki »

kumjan wrote: Sun Feb 11, 2024 9:26 am I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570.

I considered this exact choice when I was buying the Forester but couldn't stomach the $65k+ price tag of LX when I can buy (and did buy!) a Forester half that. Yet I can't stop thinking about it.

I also fantasize about taking the LX, with a teardrop camper, on long road trip through the Rockies.

We can afford it (income 500+) but I consider that as a really bad choice. Wouldn't you??
Have you looked at the Lexus GX? Very similar in terms of capabilities, but a lot cheaper.
tibbitts
Posts: 23237
Joined: Tue Feb 27, 2007 5:50 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by tibbitts »

H-Town wrote: Sun Feb 11, 2024 10:22 pm
tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
Wow, I never know how lucky I am that I never want much. Things that I enjoy don't usually carry a high price tag. I'm glad most people keep working and spending though. More power to them.
Not wanting much is okay, but not better or worse than enjoying purchases of high-priced goods or services. The person who reaches financial independence and/or retires first doesn't necessarily "win"; there are many equally valid, and in some cases conflicting, objectives.
MH2
Posts: 552
Joined: Thu Oct 28, 2021 3:46 am

Re: Have you ever replaced a perfectly fine car just because?

Post by MH2 »

snowday2022 wrote: Sun Feb 11, 2024 10:09 pm
tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.
Depends on the situation.

Is there a significant upgrade in power (torque), drivability, storage space, or interior quality? If the answer is yes and it fits your actual needs, a car upgrade could be worthwhile.
User avatar
TheRoundHeadedKid
Posts: 324
Joined: Thu Aug 10, 2023 11:28 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by TheRoundHeadedKid »

No. I keep my car until it is irreparable, or it costs more to maintain than a new car monthly loan payment. Switching cars is a money loser. I try to keep fantasies, like featured on tv ads, out of any decisions.
All 86 Vanguard ETFs equally invested.
tibbitts
Posts: 23237
Joined: Tue Feb 27, 2007 5:50 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by tibbitts »

snowday2022 wrote: Sun Feb 11, 2024 10:09 pm On the hedonic treadmill, a new car will provide little to no enjoyment but it will diminish the bank account.
You can't know that a new car will provide "little to no enjoyment." When I was younger I owned several cars (sometimes more than one at a time.) The most expensive one was new, and cost over $10k, which was about 25% of my gross salary for a year (far more than the OP is considering spending), but it was worthwhile for the enjoyment and functionality it provided. Today, I don't believe I'd derive as much enjoyment from a car that cost five or ten times as much, but I'm sure other people would derive just as much enjoyment from a new car today as I did back then.
tibbitts
Posts: 23237
Joined: Tue Feb 27, 2007 5:50 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by tibbitts »

TheRoundHeadedKid wrote: Sun Feb 11, 2024 11:18 pm No. I keep my car until it is irreparable, or it costs more to maintain than a new car monthly loan payment. Switching cars is a money loser. I try to keep fantasies, like featured on tv ads, out of any decisions.
Any purchase of a non-appreciating asset that you merely want and don't need is a "money loser"; there's nothing special about cars in that respect. Most people would be much less wealthy in other-than-financial respects if they never "wasted" money pursuing fantasies.
Wannaretireearly
Posts: 4740
Joined: Wed Mar 31, 2010 4:39 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Wannaretireearly »

I think there is a sweet spot end of lifing one car and buying the next. There is no ideal or optimal rule though.

Sold 2001 10 year old Jetta, 106k miles. Glad to sell and bit Honda van in 2011.

Sold 2004 15 year old Toyota solara, 130k miles. In accident so had to sell :( bought 2019 Hyundai palisade.

Nothing is urging me to sell the 2011 odyssey with 109k miles right now. It looks solid and hopefully go another 5 years before reassessing.
Last edited by Wannaretireearly on Mon Feb 12, 2024 12:24 am, edited 1 time in total.
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
GratuitousScrubs
Posts: 32
Joined: Fri Sep 03, 2021 1:19 am

Re: Have you ever replaced a perfectly fine car just because?

Post by GratuitousScrubs »

Maybe it's just me, but the more my salary has gone up, the less exciting it seems to spend it on a car. I had far too expensive of a car in my 20s, payments on which consumed like 30% of my disposable income after basic living expenses were covered. It's almost like the financial strain of ownership was part of the appeal.

Nowadays, though I could quickly save cash for a new car on short notice, every time I think about it the mere hassle factor quickly turns me off. I don't like dealing with paperwork and dealerships (and I don't want a Tesla).

I also now have my eye on the next tough-to-reach and far more expensive item: a level of financial independence that will let me cut away all the parts of work that I dislike. The pleasure/convenience return on any big purchase has to be worth whatever handicap it imposes on this new goal. i.e. I'll drive my car until it starts making my life inconvenient.

I know Ramit Sethi would think I was dreaming small, but deep down I think that as humans we are made to work, and also to be social with our families and communities... I think that cultivating a life where your work is tuned to your interests and abilities, and never crowds out everything else that's important, is the ultimate luxury. That may be too tangential, but it's where my head always goes when the car topic comes up.
WeakOldGuy
Posts: 297
Joined: Mon Jan 01, 2024 10:42 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by WeakOldGuy »

TheRoundHeadedKid wrote: Sun Feb 11, 2024 11:18 pm No. I keep my car until it is irreparable, or it costs more to maintain than a new car monthly loan payment. Switching cars is a money loser. I try to keep fantasies, like featured on tv ads, out of any decisions.
I would argue that if you have to have a loan to replace your car, you are doing it wrong.
On investing; I have lots of questions, many opinions, and little knowledge. A dangerous combination. Be warned.
User avatar
blimp
Posts: 226
Joined: Wed May 29, 2019 3:45 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by blimp »

kumjan wrote: Sun Feb 11, 2024 9:26 am I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570.
If your net worth exceeds the 2024 federal estate tax threshold ($13.61 million for individuals, $27.22 million for a married couple), we will allow it.

Otherwise, you have to drive the Forester to at least 300,000 miles 8-)
Derpalator
Posts: 213
Joined: Sun Nov 15, 2015 1:52 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Derpalator »

CloseEnough wrote: Sun Feb 11, 2024 7:05 pm
RubyTuesday wrote: Sun Feb 11, 2024 7:01 pm Top 3 reasons for replacing a car:
3. Free SiriusXM trial expires
2. Volkswagen Settlement buyback for diesel vehicles
1. Ash tray full
I got two of three.
username checks out
Parkinglotracer
Posts: 3779
Joined: Fri Dec 20, 2019 2:49 am
Location: Upstate NY

Re: Have you ever replaced a perfectly fine car just because

Post by Parkinglotracer »

Take a long term view. If your retirement savings and other needs are covered, Having the Lexus for 10 years or so will bring its yearly cost down to a boglehead budget. Obviously a doing car swap very often isn’t your best financial move.
Lloyd Christmas
Posts: 63
Joined: Sun Apr 05, 2020 6:48 am

Re: Have you ever replaced a perfectly fine car just because?

Post by Lloyd Christmas »

A few points from someone who feels this way pretty frequently.
1) I have purchased two vehicles in the past four years that were my "dream" car. A car I have wanted for years. After owning the vehicle for about 3 months that love of the car wore off. Those two vehicle purchases are the biggest regrets of my financial life.
2) You make so much money that I wouldn't blame you for purchasing the vehicle. However, I don't think it's the best use of your funds.
3) When you get a newer vehicle the stress level rises in attempts to avoid having the vehicle get dings, scratches, road rash, etc. There is a direct correlation between the age of the vehicle and the stress level of owning it.
4) Lexus' are amazing, especially the LX. You could own that things for 15+ years. I'm a huge fan!
SR II
Posts: 470
Joined: Wed Mar 19, 2014 7:37 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by SR II »

Go for it!!! You want it and you've got the $$$.
judge1905
Posts: 31
Joined: Sat Mar 04, 2023 4:45 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by judge1905 »

I don't think very many people here keep their cars until they are undrivable.

My last car had crank windows, and manual locks that required each door to be locked individually, and had 15 years of gunk in the mesh seats which absorbed everything and were impossible to clean. It also lacked safety features that have been around 30 years like anti lock brakes, traction control, etc.


I have a newer Mazda and I have no regrets 4 years later, and that old car is in the hands of a member of my extended family, who has little income.
User avatar
Go Blue 99
Posts: 1118
Joined: Thu Oct 09, 2008 3:42 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Go Blue 99 »

What is your savings rate %? I assume it's high based on your purchase anxiety. If so, you can obviously afford it. If you think it will bring you joy, I would do it.

Even though I consider myself a car guy, I'm chugging along in a 10 yr old Hyundai. It's definitely one of the lesser cars in our neighborhood. Spouse is encouraging me to get a new car, but I mostly telecommute so I think it would be a waste for me.
mikejuss
Posts: 2642
Joined: Tue Jun 23, 2020 1:36 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by mikejuss »

You're upgrading, OP. There's nothing wrong with that, as long as you can afford it. That means: no car loan allowed.
50% VTSAX | 25% VTIAX | 25% VTEAX (taxable), 25% VBTLX (retirement)
User avatar
TomatoTomahto
Posts: 16980
Joined: Mon Apr 11, 2011 1:48 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by TomatoTomahto »

billaster wrote: Sun Feb 11, 2024 9:48 pm
Marq1 wrote: Sun Feb 11, 2024 4:25 pm If you think people are impressed by the vehicle you dive, if you think you need something beyond a Yugo, spoiler alert ...
A Yugo with a spoiler! Now that's the ticket.
Thank you for the laugh this morning and you get bonus points for making a joke by abruptly cutting short a quote. Well played :D

As to people not paying attention to cars, maybe they do and maybe they don’t, but I will admit on this anonymous forum that I’d consider a Rolls Royce EV if it weren’t so obviously a Rolls. I would be embarrassed to be seen driving it around the neighborhood. After 8 years of crappy suspension on my Model X causing me to flinch when I know I’m going to hit a MA pothole, I ordered a Mercedes because you can load it with comfort items without making it obvious to everyone who sees it. My perfect car would be a super comfortable, luxurious, high performance, and safe EV that looks like a Yugo.
I get the FI part but not the RE part of FIRE.
RJC
Posts: 1470
Joined: Fri Dec 14, 2018 12:40 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by RJC »

Yes, all the time. After 6-7 years and before 100k, we usually sell before the problems come. Definitely not the BH way but we enjoy driving newish cars.

We also buy them outright after selling the previous one.
Point
Posts: 651
Joined: Mon Jul 10, 2017 9:33 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Point »

Sometimes we find ourselves struggling to do something that goes against our core identity. In this case it sounds like you know what got you here, ie, to your financial security, and are concerned that it will mess with your ability to stick with your regimen. As long as you’re secure in your ability to stick to your processes, get the car you want, enjoy the journey, and breathe a little. You’ll be fine.
RJC
Posts: 1470
Joined: Fri Dec 14, 2018 12:40 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by RJC »

TomatoTomahto wrote: Tue Feb 13, 2024 8:02 am
billaster wrote: Sun Feb 11, 2024 9:48 pm
Marq1 wrote: Sun Feb 11, 2024 4:25 pm If you think people are impressed by the vehicle you dive, if you think you need something beyond a Yugo, spoiler alert ...
A Yugo with a spoiler! Now that's the ticket.
Thank you for the laugh this morning and you get bonus points for making a joke by abruptly cutting short a quote. Well played :D

As to people not paying attention to cars, maybe they do and maybe they don’t, but I will admit on this anonymous forum that I’d consider a Rolls Royce EV if it weren’t so obviously a Rolls. I would be embarrassed to be seen driving it around the neighborhood. After 8 years of crappy suspension on my Model X causing me to flinch when I know I’m going to hit a MA pothole, I ordered a Mercedes because you can load it with comfort items without making it obvious to everyone who sees it. My perfect car would be a super comfortable, luxurious, high performance, and safe EV that looks like a Yugo.
Not worth it to get a new Model X? Thinking about it for my next car but have read about some of the issues - shuddering, axle, falcon doors, quality, etc. Can't tell if these are common...
User avatar
TomatoTomahto
Posts: 16980
Joined: Mon Apr 11, 2011 1:48 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by TomatoTomahto »

RJC wrote: Tue Feb 13, 2024 8:26 am Not worth it to get a new Model X? Thinking about it for my next car but have read about some of the issues - shuddering, axle, falcon doors, quality, etc. Can't tell if these are common...
Leaving the politics aside for the forum, I was a very early adopter (VIN 0002xx) and many parts of my car have been superseded with different versions. I believed in the mission and overpaid for a more highly speced car than I needed.

I never had a problem with the falcon doors and the fit issues didn’t bother me. The emphasis in early days was weight reduction and the seats were uncomfortable (they are no longer offered). The suspension is laughable in the early versions.
L
If I were in the market for a Tesla, I’d probably buy a Y. I don’t need the larger X. However, I fell in love with a Mercedes EQS SUV EV; more expensive than the X and Y but it pampers the occupants. Safe as can be. I don’t drag race and the acceleration is sufficient. Range is fine. I give up my free lifetime supercharging, but I supercharge maybe twice a year so don’t care.

ETA: if it were just me, I’d buy a Mercedes EQE (almost as good as the EQS, smaller, and less expensive). My wife likes the EQS more, so …

Btw, the Mercedes have rear wheel steering. Game changer.
I get the FI part but not the RE part of FIRE.
soccerrules
Posts: 1374
Joined: Mon Nov 14, 2016 3:01 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by soccerrules »

retired@50 wrote: Sun Feb 11, 2024 9:38 am
kumjan wrote: Sun Feb 11, 2024 9:26 am I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570.

I considered this exact choice when I was buying the Forester but couldn't stomach the $65k+ price tag of LX when I can buy (and did buy!) a Forester half that. Yet I can't stop thinking about it.

I also fantasize about taking the LX, with a teardrop camper, on long road trip through the Rockies.

We can afford it (income 500+) but I consider that as a really bad choice. Wouldn't you??
The mental cycles we (some Bogleheads, myself included) spend on things like this are incalculable...

Sure, a less expensive car will get you from point A to point B, but if you'd prefer to make the journey in a Lexus and can afford it, then I think it's fine. I say this because some of the time & effort you put into earning money should be spent on things that bring you joy. If a Lexus will do that, then go for it.

However, if your retirement savings plan isn't on track, then of course, the answer is no.

Regards,
+1
Don't let your outflow exceed your income or your upkeep will be your downfall.
CharlesDickens
Posts: 55
Joined: Fri Jan 08, 2021 5:44 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by CharlesDickens »

Assuming that your savings are substantial, at that income level I would get your Lexus. I am a car guy, and you sound like one too. I don't follow Lexus, and I am more of a performance car guy. This is the new golden age of performance cars, such as the Blackwing, Dark Horse, Model 3 Competition, Model S Plaid, Z06, Eray, upcoming ZR1, not to mention exotics and semi-exotics. I have a perfectly good standard (manual) transmission 2006 Corvette (which I bought new, for cash), and yet I have an itch to get a new one, so I have a deposit down. I figure that I have at most 10-15 years before my reaction time will be too slow to handle a fast car, so I am going to make good use of those years. Frankly, the newer safety features (other than a backup camera, which I installed myself on my 2006) do not hold great appeal for me. I have used them in rental cars. As long as the car has good visibility, and you are careful on turns and lane changes, I could live w/o the newer safety devices. If anything, I think that they trigger dependency and complacence.

I surmise that most folks on this forum are not car people, which is great, but don't expect a lot of encouragement for buying a nice car from non-car people.
BruDude
Posts: 4202
Joined: Wed Dec 29, 2010 11:28 pm
Location: Las Vegas

Re: Have you ever replaced a perfectly fine car just because?

Post by BruDude »

All the time. I went through 7 cars last year alone. It’s what I spend my fun money on, cars and watches.
bloom2708
Posts: 9815
Joined: Wed Apr 02, 2014 2:08 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by bloom2708 »

I would guess 50-60% of car purchases meet the "just because" clause.

Approved.

You can always buy a different Forester "just because" if you feel remorse. :mrgreen:
supersharpie
Posts: 838
Joined: Wed Dec 22, 2010 12:28 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by supersharpie »

kumjan wrote: Sun Feb 11, 2024 9:26 am I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570.

I considered this exact choice when I was buying the Forester but couldn't stomach the $65k+ price tag of LX when I can buy (and did buy!) a Forester half that. Yet I can't stop thinking about it.

I also fantasize about taking the LX, with a teardrop camper, on long road trip through the Rockies.

We can afford it (income 500+) but I consider that as a really bad choice. Wouldn't you??
Life is short, your income is high. Buy the Lexus.
Braqum
Posts: 39
Joined: Wed Nov 01, 2023 8:42 am

Re: Have you ever replaced a perfectly fine car just because?

Post by Braqum »

Surprised bogleheads recommend spending 65k+ on a car that has almost the same functionality as another but for half the price
edge
Posts: 3818
Joined: Mon Feb 19, 2007 6:44 pm
Location: NY

Re: Have you ever replaced a perfectly fine car just because?

Post by edge »

I’ve never done this - there were always functional reasons for switching vehicles.
User avatar
Doom&Gloom
Posts: 5372
Joined: Thu May 08, 2014 3:36 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Doom&Gloom »

Braqum wrote: Sun Feb 18, 2024 5:52 pm Surprised bogleheads recommend spending 65k+ on a car that has almost the same functionality as another but for half the price
You really can not take it with you.
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

H-Town wrote: Sun Feb 11, 2024 10:22 pm
tibbitts wrote: Sun Feb 11, 2024 9:28 pm
H-Town wrote: Sun Feb 11, 2024 9:11 pm I thought the whole point is to be free from money, no?
I completely disagree. Almost all Bogleheads could have been "free from money" early in their careers, but the "whole point" is to balance financial independence with a lifestyle you enjoy. For most people - even here on the forum - enjoyment can require plenty of discretionary expenditures.
Wow, I never know how lucky I am that I never want much. Things that I enjoy don't usually carry a high price tag. I'm glad most people keep working and spending though. More power to them.
I agree that it is great to be born without the desire to buy / own expensive items. I have bought plenty of things but I'm always looking to first see if I can buy it used and everything else generally is bought at bargain prices.

Some day in this forum I was ask people to guess how much I have spent in my entire life buying cars. All will be shocked.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

WeakOldGuy wrote: Mon Feb 12, 2024 12:51 am
TheRoundHeadedKid wrote: Sun Feb 11, 2024 11:18 pm No. I keep my car until it is irreparable, or it costs more to maintain than a new car monthly loan payment. Switching cars is a money loser. I try to keep fantasies, like featured on tv ads, out of any decisions.
I would argue that if you have to have a loan to replace your car, you are doing it wrong.
That was also my reaction.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

Duplicate
Last edited by vnatale on Sun Feb 18, 2024 6:54 pm, edited 1 time in total.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

blimp wrote: Mon Feb 12, 2024 1:25 am
kumjan wrote: Sun Feb 11, 2024 9:26 am I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570.
If your net worth exceeds the 2024 federal estate tax threshold ($13.61 million for individuals, $27.22 million for a married couple), we will allow it.

Otherwise, you have to drive the Forester to at least 300,000 miles 8-)
!!!!!!!!!!!!!!!!!!!!!
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

Lloyd Christmas wrote: Mon Feb 12, 2024 6:29 am A few points from someone who feels this way pretty frequently.
1) I have purchased two vehicles in the past four years that were my "dream" car. A car I have wanted for years. After owning the vehicle for about 3 months that love of the car wore off. Those two vehicle purchases are the biggest regrets of my financial life.
2) You make so much money that I wouldn't blame you for purchasing the vehicle. However, I don't think it's the best use of your funds.
3) When you get a newer vehicle the stress level rises in attempts to avoid having the vehicle get dings, scratches, road rash, etc. There is a direct correlation between the age of the vehicle and the stress level of owning it.
4) Lexus' are amazing, especially the LX. You could own that things for 15+ years. I'm a huge fan!
That has always been my fear.

For those of your who buy new or near new vehicles is this a stresser for you?
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

judge1905 wrote: Mon Feb 12, 2024 8:15 pm I don't think very many people here keep their cars until they are undrivable.

My last car had crank windows, and manual locks that required each door to be locked individually, and had 15 years of gunk in the mesh seats which absorbed everything and were impossible to clean. It also lacked safety features that have been around 30 years like anti lock brakes, traction control, etc.


I have a newer Mazda and I have no regrets 4 years later, and that old car is in the hands of a member of my extended family, who has little income.
I drove my 1984 Honda Accord with 248,000 miles on it to the junkyard. The engine was still perfect, never using any oil. But being a New England car it was falling apart everywhere due to rust.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
vnatale
Posts: 2990
Joined: Sat Jul 31, 2010 8:50 pm
Location: Montague, MA

Re: Have you ever replaced a perfectly fine car just because?

Post by vnatale »

Doom&Gloom wrote: Sun Feb 18, 2024 6:38 pm
Braqum wrote: Sun Feb 18, 2024 5:52 pm Surprised bogleheads recommend spending 65k+ on a car that has almost the same functionality as another but for half the price
You really can not take it with you.
For certain.

But you can for certain pass it on to others who may not have our good fortune $$$-wise.
Above provided by: Vinny, who always says: "I only regret that I have but one lap to give to my cats." AND "I'm a more-is-more person."
User avatar
Doom&Gloom
Posts: 5372
Joined: Thu May 08, 2014 3:36 pm

Re: Have you ever replaced a perfectly fine car just because?

Post by Doom&Gloom »

vnatale wrote: Sun Feb 18, 2024 6:53 pm
Doom&Gloom wrote: Sun Feb 18, 2024 6:38 pm
Braqum wrote: Sun Feb 18, 2024 5:52 pm Surprised bogleheads recommend spending 65k+ on a car that has almost the same functionality as another but for half the price
You really can not take it with you.
For certain.

But you can for certain pass it on to others who may not have our good fortune $$$-wise.
If you read enough threads here, it appears the consensus may well be that will only make the recipients shiftless and lazy. You'd be doing them a grand favor by buying one lousy car that you can easily afford and is nicer than required to get you from Point A to Point B. And the car does have some residual value; it won't depreciate to $0 faster than another car :moneybag
Post Reply