What Do You Drive?

[Chazm]

My point was the fact that a cars value drops like crazy regardless of what you do. As a example.

My 2007 Taurus that I purchased in 2008 with 20,000 miles on it, retailed for around $23,000. I bought it at the auction for $8700.00 and it was only one year old. If it had only 15,000 miles on it, I probably would only had to pay another $3-500.00 for it.

Honda and Toyota used to be able to brag about resale value, but no more. The drop just like any other car, maybe faster than Ford now. Hyundai is the car to buy now if a person is worried about resale value. The quality is top-notch, the sales are up 26% this year,and most get amazing fuel mileage.

Hmm...I'd have to disagree. Yes, Ford and Hyundai has come a long way but their residual value is still lower than Honda and Toyota. Just because a commercial says different, doesn't make it true.

Personally, I have no problem buying either of those brands and I think Ford and Hyundai are creating more appealing cars too but they are still a few years away from keeping over a 55% residual value for 3 years

 

[Rivers1]

I still drive a Volkswagen Jetta from 2002 I bought new & garage kept with 112k on the dial. Looks & drives like new. No car payments since 05. When I see other agents in bmw's and merc's I can't help but wonder why. One of my neighbors has three car payments, where's the brains behind that, geez. Made the choice to invest in myself & future instead of tossing money into a devaluing asset every few years. Gotta balance wants vs needs and think long term people.

 

[robb01]

a 2005 Ford F150

 

[0b1kanobee]

99 GS 300 Lexus......my car looks very close to this one. I have some after market wheels and some engine modifications. I only have 105k miles and it is paid for. I bought it used with 58k miles on it.

 

[VaDwayne]

I still drive a Volkswagen Jetta from 2002 I bought new & garage kept with 112k on the dial. Looks & drives like new. No car payments since 05. When I see other agents in bmw's and merc's I can't help but wonder why. One of my neighbors has three car payments, where's the brains behind that, geez. Made the choice to invest in myself & future instead of tossing money into a devaluing asset every few years. Gotta balance wants vs needs and think long term people.

YOU drive the best kind of car, and that is a paid for car..
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Hmm...I'd have to disagree. Yes, Ford and Hyundai has come a long way but their residual value is still lower than Honda and Toyota. Just because a commercial says different, doesn't make it true.

Personally, I have no problem buying either of those brands and I think Ford and Hyundai are creating more appealing cars too but they are still a few years away from keeping over a 55% residual value for 3 years

Cool beans!!! BTW,

2011 Hyundai Sonata GLS 36 month 54%

 

[Chazm]

99 GS 300 Lexus......my car looks very close to this one. I have some after market wheels and some engine modifications. I only have 105k miles and it is paid for. I bought it used with 58k miles on it.

Nice ride!

I would love to have something like this, roomy, powerful, rides nice and looks good. I know I need to put money towards an actual investment but I feel I need something different than I have now.

 

[senior-advisor-indiana]

My point was the fact that a cars value drops like crazy regardless of what you do. As a example.

My 2007 Taurus that I purchased in 2008 with 20,000 miles on it, retailed for around $23,000. I bought it at the auction for $8700.00 and it was only one year old. If it had only 15,000 miles on it, I probably would only had to pay another $3-500.00 for it.
Honda and Toyota used to be able to brag about resale value, but no more. The drop just like any other car, maybe faster than Ford now. Hyundai is the car to buy now if a person is worried about resale value. The quality is top-notch, the sales are up 26% this year,and most get amazing fuel mileage.

You are right, 5k miles would not make much difference at all. I drive about 25k miles a year though. So when I do trade it in or sell it in 4 years it could be a difference of about 50-60k miles by not using it for work.

 

[VaDwayne]

You are right, 5k miles would not make much difference at all. I drive about 25k miles a year though. So when I do trade it in or sell it in 4 years it could be a difference of about 50-60k miles by not using it for work.

I feel your pain... My 2007 Taurus now has about 86000 on it and my 2007 Accord has about the same, as my wife travels 30 miles a day to work plus the normal running around.

I can say this, I have been a Honda man for many of years because of 20 years in the car business and my last years as sales manager at a large Honda store. I used to bad mouth Ford but I have never had my Taurus in the shop for mechanical issues. I am quite impressed as this was my first Ford.

 

[Chazm]

I feel your pain... My 2007 Taurus now has about 86000 on it and my 2007 Accord has about the same, as my wife travels 30 miles a day to work plus the normal running around.

I can say this, I have been a Honda man for many of years because of 20 years in the car business and my last years as sales manager at a large Honda store. I used to bad mouth Ford but I have never had my Taurus in the shop for mechanical issues. I am quite impressed as this was my first Ford.

Check this out. Hyundai, Honda, Ford ranked 10,11, 12th respectively.

J.D. Power and Associates

I wouldn't mind owning any one of those....though my Mitsubishi (ranked 27th) has 70k miles and has had zero problems.

 

[BTFuzz]

I still drive a Volkswagen Jetta from 2002 I bought new & garage kept with 112k on the dial. Looks & drives like new. No car payments since 05. When I see other agents in bmw's and merc's I can't help but wonder why. One of my neighbors has three car payments, where's the brains behind that, geez. Made the choice to invest in myself & future instead of tossing money into a devaluing asset every few years. Gotta balance wants vs needs and think long term people.

I concur...I just bought a new GMC truck (big truck guy!) but I do this only after I've run my truck into the ground. I take advantage of the HUGE tax break I get and then keep it and take care of it for at least 10 years.

No vehicles are a good investment, but you need em and this is the best way I've found to get the most out of a losing situation.