Anyone ever figure out the best way to have the lowest cost of car ownership?

[EarlyPorsche]

Originally Posted by RWebb

Looks like the lowest cost of ownership for any new car is a Nissan Leaf. May not work for you, but the cost per mile is amazingly low - may well go lower too (rel. to buying gas).

Yes assuming electronics don't fail outside warranty and the batteries last 20+ years.

[1990C4S]

I think you could do better converting a carburetted car to LP or CNG.

[dienstuhr]

Walk to work, or take public transit. Saves $$ on gas, insurance and maintenance. Preserves resale by keeping mileage low, which also helps extend the warranty.

d.

[RWebb]

Originally Posted by EarlyPorsche

Yes assuming electronics don't fail outside warranty and the batteries last 20+ years.

- you should check out the powertrain warranty on those things!

[LeeH]

My least expensive car ownership was when I'd wait patiently for a great deal on a 5 year old used car, drive it for 6 months to a year, then sell it for what I paid or more, then move on to the next one.

I never bought tires, brakes, or had to pay for major repairs/maintenance nor did I suffer age related depreciation. With the ease of posting used vehicles for sale on Craigslist, it's very tempting to go back to that pattern.

[VincentVega]

Sounds good but registration/taxes around here make that tough to pull off.

I would love a 996 for a DD but can see putting it through my commute. With so much construction and ~120miles/day there are always potholes, cones in the road, rock chips... I cant see putting a 'nice' care through that.

My e36 just crossed 220k and still kicking, knock on wood. I try to keep an eye out for a good deal and pull the trigger when it makes sense. So far used cars have been good to me, but I usually buy at 100k+ and like mentioned earlier dont sweat the small stuff. Keep it safe and dont bother with the niggly stuff.

[Robert Adams]

I think Z-man pretty much has it right as well and that is pretty much what I've done over the years off and on; P-cars aside.
However, I think one needs to look at the market place realistically from time to time. Some years a 2 or 3 year old car is a better value because of the depreciation factor, and the number of cars on the market. Most cars typically don't have a lot go wrong with them until around the 5th year. So maybe I should be dumping them at 5 years, but typically I don't. Usually go to 10 years maybe even longer depending on the car's condition. At some point I feel I've just about replaced everything so why not hold onto as long as I don't have electrical gremlins. Hate electrical gremlins just never win that battle!
On the other hand I think some years it's better to buy new and I think this may be one of those years. Due to the down economy of 07-08-09...and so on....people weren't/aren't buying the typical number of new cars, production went way down and now there is a scarcity of used cars with low mileage and good or bad ones are commanding close to a 20% premium over what they normally would have if the production numbers had stayed constant. Supply and demand!
I'm now noticing more manufacturers are offering 0% financing and I think I would be nuts not to buy a new car at that rate.
Just sayin..

[jtkkz]

Originally Posted by milt

First of all, don't buy a 911 or a Ferrari.

Buy low for cash, sell for same in due time. Works every time for me. Gas, oil and insurance is about all I put into a car. Except for the damn Porsches I've owned.

Milt said it well, exactly what I have been doing, but occasionally i get lucky and find a great deal on a low mielage car for a great deal and use for couple of years and sell for more

[1990C4S]

For you 'hybrid pushers': Read.

Compacts cost less to run than hybrids, CAA reports - The Globe and Mail

[redstrosekNic]

It's all about finding the right older car. My 93 maxima se has done pretty well for the 5 years I've had it. It's sooo nice having an older car that people can open their door into, and not have to care about it. The Porsches are the cars I care about...

[Zeke]

Since this thread started I bought the '96 XJ6 you see in my sig line. Now that's gonna be a good ride for little money. Just got back from a long morning of errands. Easiest car to drive I've ever owned. And, if I want to carve a couple of off ramps, it doesn't mind.

[manbridge 74]

The cheapest car is always for free.

When ones family member/friend is ready to trade in that early 90s jap car, take them up on trade in value. It will usually be schmatz and worth the visit to take it off their hands.

My 90 Celica DD has covered 100k with little more than a $20 junkyard alternator and a top rad hose. 37MPG buys a lot of gas vs. Nissan Leaf.

IMO all early 90s toy/hon/nissan stuff was over engineered. Us 2nd car peeps can now take advantage of their lack of DIY skills.

Assuming you have them.

[nota]

I hunt for good cars with dents or bad paint or a thrashed seat
as long as the basic car is in good shape and well serviced

example 240 volvo's
cheap to keep and eazy to work on
and safe so no cry if the kids or wife wreaks it
just hunt another one

[mikesride]

There are lots of cars out there that have almost reached maximum depreciation. I am thinking mid to late 90's low to mid series BMW here. Buy it, drive it, sell it for what you paid for it and have the fun of doing it all over again!
And...BTW cost of ownership on my old 82 sc has been very low and as it reaches its maximum depreciated value I can't see how I stand to lose anything major on it when it is time to part with it.

[silverwhaletail]

Buy new, out of the Saturday morning classifieds, "ONE AT THIS PRICE!"

Financing on new cars is beyond belief.

In 2008 I bought a new 2008 Nissan Titan, crew cab 4 door, pwr windows/locks, amfmcd, cruise, bedliner,, etc for $17,700 when gas was $4 a gallon. It's almost 4 years old now with 19,000 miles on it.

My wife totaled her X5 and has been singing the "I want another SUV" song ever since. Last weekend we bought a "ONE AT THIS PRICE!" Chev Equinox with the 2.4 four cylinder and a 6 speed trans. Just under $27,000 including a GM Bumper to Bumper 6 year/100k warranty, including tax, out the door.

We plan on driving this thing into the ground.

Oh, and they gave us 2.7% financing with zero down for 60 months. I don't see how a person could go much cheaper than that for reliable, safe transportation.

On the other hand, thats about the same money for a 2002 or 2003 M5...

[1990C4S]

There is no way a $27,000 car is the lowest possible cost of ownership. It might be the easiest. It might even be the cheapest new car. No possible way is that the lowest cost.

[jcunning]

Drive Free, Retire Rich - daveramsey.com

This is a pretty interesting story...

Using this as a base, the cheapest way to own a car is to buy a 2-4 year old car, drive it for 20 months, then sell it and get a "new" 2-4 year old car. With this system, you are always avoiding the big maintenance bills on much older cars. Also, the depreciation loss isn't as bad as you are only putting 15-20K on the car.

The only negative I see is the constant taxes you have to pay for title transfer, sales tax, inspection, etc... when buying the next "new" car. I think these are very small potatoes compared to buying a new car and watching it drop 50% in value over 10 years.

[kaisen]

Originally Posted by jcunning

I think these are very small potatoes compared to buying a new car and watching it drop 50% in value over 10 years.

Try 50% over 2-3 years

[vmisquez]

Don't forget the cost of tooling up to maintain,repair your vehicles. Then there is also the cost in aquiring skills to perform the tasks. I'm sure you can get the job done with only basic hand tools but I refuse to work without compressed air.

I never owned a new car and have learned to rebuild my own motors and transmissions so After 15 years of servicing my own cars the tools/effort proved a good ROI.

Of cource then there's the price of initiation...rework caused by inexperience and blood letting.

[manbridge 74]

Originally Posted by manbridge 74

The cheapest car is always for free.

When ones family member/friend is ready to trade in that early 90s jap car, take them up on trade in value. It will usually be schmatz and worth the visit to take it off their hands.

My 90 Celica DD has covered 100k with little more than a $20 junkyard alternator and a top rad hose. 37MPG buys a lot of gas vs. Nissan Leaf.

IMO all early 90s toy/hon/nissan stuff was over engineered. Us 2nd car peeps can now take advantage of their lack of DIY skills.

Assuming you have them.

It gets better.

I get used 15" tires for free from the local Big O store. Mount them myself and use bubble balancer. Plug or patch flats. Never had an issue.

After many years of no car payments and liability insurance only.... I could buy whatever floated my boat.

And this car has been hailed on, sunned on, deered on, and survived going under a tree that was fallen in the road. Broke the windshield but not the A-pillar. And no one would ever steal it.

Only cost is gas and oil. Even the motor is non-interference if timing belt breaks.

And its weight has been cut to 2450lbs measured at local dump. So while it is no 911, it is still somewhat fun to drive.

If there is a lower CPM(cost per mile) car, I've yet to see it.