My 300CD was $1k in 2006. Around $800 in general maintenance, all parts. The labor has been my own with the one exception being some machining help I got from LuckyEddie on this forum. 30k miles later, I'm happy with my (29-30mpg, cheaply insured) investment.

lupin..the..3rd: That's a very good point, my idea of a dailly driver is something that will routinely drive cross country without problems (I've driven over 40k miles so far this year in my 300D). I only spent about $7k for that car, but I have probably put $20k into it over the last 350k miles. As an alternative, I could buy a new CDI for $60k every 5 or 6 years, or I could buy a used ($15-20k) car every 3 or 4 years. I certainly couldn't get away with a $2 car.

However, a DIYer who commutes 10 miles to work may be able to get away with a few $1000 car for years without any real problems.

Well, sounds like you've already found your ideal daily driver. $20k in maintenance and repairs to go 350,000 miles is pretty darn good. I'd keep it. :cool:

I'd spend as much as necessary so that I wouldn't have to spend a lot of time and money off the bat to get it looking good and driving well. I spent about 4k, in this high priced Seattle region, for my car. But, the previous owner had a folder full of receipts and the main components had proved themselves reliable for them during the 4 years and 100k miles they owned it. Also, it's my only car, so I don't want something I can't depend on when I need it.

The $20k estimate is probably low if I include routine maintenance (I'm afraid to add it up), but I still think it's a good deal over the long term. The truth is that I really don't like their newer cars as much.

The downside is the unexpected expenses of an old car. Mine is with my Indy for some nits (replace injectors, valve adjustment, tranny service, etc.) and I asked him to track down a slight suspension clunk (which was just a worn UCA bushing that he's replacing). However, he found the begining of some rust on one trailing arm and a degraded shock mount. When he pulled of the trailing arm to replace it, the left coil spring is also broken (at the very bottom). So, now I'm replacing the trailing arm, both rear shocks, and both rear springs. The point is that few $100 of repairs can easily turn into few $1000 of repairs when you start digging into 25 year old cars. Well, that's the price of driving one of these.

$5000 and still rolling

Well I picked up my 86 300sdl for a 1k. before i could drive it safely I put about $2500 into it:eek:. Timing chain, 5 new tires, Brakes,rotors and bearings all the way around. Ran it all summer and then dropped another $1k into the front end replaced all the bushings ball joints etc. that included the labor. So I am up to $4500 total.

PS. the po put new radiator and transmission into it in the previous year. :D I cant complain so far.

Scott

I can barely keep up with this thread!
 

Wow, we have had a great response to this thread. This is great, most of you guys get that there are a lot of variables that make up how something is justified. I am having trouble keeping up so bare with me!

@Skippy - "It would be cheaper to continue to buy sub $1000 cars and just run them into the ground, but I made the mistake of buying cars that I like too much to do that." - YEP! Me too haha! - 2nd thread response, wow do you still have the 240D you bought in 2006? If so how much have you put into it for repairs?

@ah-kay - Sorry to hear about your Town & Country; am I to understand you say that you get cosmetically bad cars with good engine and transmissions just for the donar parts? That makes sense but I am not mechanically inclined enough to do those kind of swaps. =)

@lorainfurniture - My jaw dropped reading about your truck but I realized that this happens all the time and car dealerships (mostly car dealer salesman) are only interested in selling you a car not educating you on resale value etc.

@Shawn T. W. - Your 240D is beautiful and that price is right!

@Junkman - You have some interesting car investments, I thought I was cheap too but reading most of these experiences here it seems like even $2k was well more than what most people are spending on daily drivers!

@lupin..the..3rd - It is whatever 'daily driver' means to you. I drive 30 miles to a from work (60 all together), that is roughly my daily uses besides driving to friends, family etc.

I will respond back to the rest of you guys when I get a chance, my gf is loosing her patience with me hehe. <3

I wish my Dad did the same for me.:mad:

I think there is a lot of good cars to be had for < $2K. My boy graduated this year and he has a 1999 Neon bought for $1800 3 years ago. It is his daily driver and he loves it. I put the money which would have gone towards a 'better' car to his brokerage account.

I meant buying cars with good mechanical conditions, reasonally rust free and fixing up the rest. I cannot swap engine or tranny. I have not done it, not yet anyway. I spent less than $12K on all my 5 MBZ, less than the price of a new sedan.

Are you done now? It has been a while, 10 minutes already.:P

No price point, drive what you can afford. Just as long as you pay for it with cash, or 0% financing is OK, might as well use someone elses money if they are offering it to you for free!:D

When I can afford it, I'm going to get a Ferrari 575M and drive the living crap out of it. As long as I'm not working I'll drive it rain, snow or sun. Probably even take it fishing and do some light offroading down dirt roads with it.:D

Cars are ment to be driven.

Yup, the initial purchase price is almost inconsequential if you plan on keeping it for a while.

You should have seen the POS cars I drove in high school and college. I'm sure I could find something less expensive, but I like the safety of a late model C or E class for new drivers, compared to a smaller car. Of course, my daughter wants to buy a motorcycle instead, so we'll see how that works out.

I don't really buy the "0% financing" marketing. We all know there is no such thing as real 0% financing, so you are still paying the financing charges somehow. Anyone offering 0% financing should be willing to offer an additional discount for cash.

True..

However, I did buy my box truck with only 2.9% finance.. 36mos.

And I negotiated for HOURS on the purchase price.

sometimes companies will break their necks to sell you a truck..

My payment on a 40k loan is 1200.00. I figured interest to be about 85 bucks a month..