Quote:
Originally Posted by Army
Compared with depreciation I'm still of the opinion that it is better to repair an older vehicle rather than buying a new one - my economic reasoning however doesn't include my own time at a reasonable rate of pay - I consider it to be more of a hobby.
Which is why I guess most DIYers on this forum own multiple vehicles - it is all about redundancy when one horse gets tired you use another one out of the stable...
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I agree, adding:
One thing you get with every new car is perceived reliability.
I don't mind throwing money at my old cars, as long as I feel I can trust them to be reliable. Once I lose confidence, that car is on the way out, and it's on to the next. At this point, most often, the car is retired to serve as a parts car for the next. Overwhelmingly, when I sell, it's because I've grown bored with the car, or I need the room/funds for my next toy...
Also, as mentioned, You've got good chance to increase the reliability factor when buying. It's much less risk, if you buy a car that has been maintained, and the owner can prove it. I've bought at both ends of the curve, and I've often lucked out with a cheap car. On the other hand, when I've bought the nicest car, with records, I've never been disapointed.
Jim