Discuss Latest WCI Blog Post: Why I Keep My Rusty Car

[The White Coat Investor]

Psychiatrist, Dr. Dimitrios Tsatiris, discusses the psychological reasons for resisting lifestyle creep in the matter of cars.

The post Why I Keep My Rusty Car appeared first on The White Coat Investor - Investing & Personal Finance for Doctors.



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[Bev]

Get a new Honda CRV. Your kids will not be ruined by the expenditure.

[Nysoz]

Newer cars are also safer than older cars.

[Lithium]

2021 is a horrendous time to buy a car.

I drive something similar to the OP, and I’ll admit one reason I haven’t upgraded is I enjoy being a contrarian. Not so much to this crowd, but to popular society that scratches their heads.

[artemis]

I live in a part of the country where large hail is not uncommon. Driving my old car means one less thing to worry about if I am caught out in a storm.

[JBME]

we did some things wrong in the past 15 years and some things right. We did cars right. Didn't hold them long enough to get rust but we kept the cars we acquired for free (thanks to generous parents giving us their "old" cars) in college all that way into 5-6 years post-residency. When we got rid of them they were 17-20 years old. Didn't even have too many miles on them....at most 200k

[Lordosis]

We are doing covid tests in the parking lot still. And as I was testing someone the patient pointed to a sports car and asked if it was mine. I laughed and pointed to my minivan.

I did buy it new (shame, shame) but that was 4.5 years ago and I have no desire to replace it. I would be happy to get to the 8-10 year range and even more happy with every further year. I would likely buy new again and start over. It is a nice treat every decade or so. More often since we have 2 cars.

[MaxPower]

We are doing covid tests in the parking lot still. And as I was testing someone the patient pointed to a sports car and asked if it was mine. I laughed and pointed to my minivan.

I did buy it new (shame, shame) but that was 4.5 years ago and I have no desire to replace it. I would be happy to get to the 8-10 year range and even more happy with every further year. I would likely buy new again and start over. It is a nice treat every decade or so. More often since we have 2 cars.

We are also driving a 10 year old minivan, but that’s more my wife. But she’s also the one driving carpool and to/from soccer practice most of the time. And for now, it’s mostly a transportable garbage can and dirty laundry hamper.

My oldest daughter will be old enough to drive in a couple of years. Even though I could probably afford it, she won’t be getting a brand new car. I remember how stupid I was when I started driving so there’s no way a teenager needs a brand new car.

[Larry Ragman]

We are also driving a 10 year old minivan, but that’s more my wife. But she’s also the one driving carpool and to/from soccer practice most of the time. And for now, it’s mostly a transportable garbage can and dirty laundry hamper.

My oldest daughter will be old enough to drive in a couple of years. Even though I could probably afford it, she won’t be getting a brand new car. I remember how stupid I was when I started driving so there’s no way a teenager needs a brand new car.

My daughter wrecked her first two. Glad they were new enough for safety features, but also happy they were not so new that I lost the depreciated portion of the value.

My wife buys new cars and drives them a long time; I buy used cars and drive them until the wheels fall off.

[Lordosis]

We are also driving a 10 year old minivan, but that’s more my wife. But she’s also the one driving carpool and to/from soccer practice most of the time. And for now, it’s mostly a transportable garbage can and dirty laundry hamper.

My oldest daughter will be old enough to drive in a couple of years. Even though I could probably afford it, she won’t be getting a brand new car. I remember how stupid I was when I started driving so there’s no way a teenager needs a brand new car.

My kids are a long way off from driving. I do not plan to get them a new car. I plan to get me a new car and they can use what I was driving. I doubt it will be my current cars since we are 10 years out but it might be!

I hear you in regards to the mobile landfill. The other benefit of an older car is that I do not care it is dirty because I do not have time to clean it.

When I am FI and cut back on work and have time to fuss over washing my car weekly I will know that I made it!

[MaxPower]

My daughter wrecked her first two. Glad they were new enough for safety features, but also happy they were not so new that I lost the depreciated portion of the value.

My wife buys new cars and drives them a long time; I buy used cars and drive them until the wheels fall off.

Yes. I’m thinking about 3-5 year old used cars. New enough that they have some decent safety features, but not so new that when the inevitable happens that I’ll freak out (too much) about it.

[MaxPower]

My kids are a long way off from driving. I do not plan to get them a new car. I plan to get me a new car and they can use what I was driving. I doubt it will be my current cars since we are 10 years out but it might be!

I thought this also when I bought my 2015 luxury SUV, but seven years later it’s still in great condition and only has about 66,800 miles on it so now I’m thinking there’s no way I’m giving it to her!

[G]

We are doing covid tests in the parking lot still. And as I was testing someone the patient pointed to a sports car and asked if it was mine. I laughed and pointed to my minivan.

I did buy it new (shame, shame) but that was 4.5 years ago and I have no desire to replace it. I would be happy to get to the 8-10 year range and even more happy with every further year. I would likely buy new again and start over. It is a nice treat every decade or so. More often since we have 2 cars.

why in the heck are you out in the parking lot doing covid tests?

[afan]

Great post but I don't get the rust. The last two cars we gave up were 18 and 20 years old. End of useful life but neither had rust

[Dontgetthejab]

This post makes me want to get a 2013 Audi A5 cabriolet