Drive Free, Retire Rich - Subaru Forester Owners Forum
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post #1 of 39 (permalink) Old 08-24-2009, 11:11 AM Thread Starter
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Drive Free, Retire Rich

This is an interesting school of thought. About people who buy new cars every several years. However, I don't know many people that drive $1,500 cars...

Drive Free. Retire Rich.

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post #2 of 39 (permalink) Old 08-24-2009, 11:22 AM
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Quote:
Originally Posted by 2point5awd View Post
This is an interesting school of thought. About people who buy new cars every several years. However, I don't know many people that drive $1,500 cars...

Drive Free. Retire Rich.
I did till about a week ago, till I blew an engine on my civic, and decided to get a new one, to be honest if I would have the chance to do it all over, I would go out and get an used engine and keep it for another 3 years with no car payments. ;)


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post #3 of 39 (permalink) Old 08-24-2009, 11:22 AM
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Very nice. It makes total sense

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post #4 of 39 (permalink) Old 08-24-2009, 11:31 AM
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The concept makes sense...but is unrealistic that you can get a 12.5% return...try more like 2% at todays rates.

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post #5 of 39 (permalink) Old 08-24-2009, 11:37 AM
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People spend a LOT of time in their car, and who wants to be misserable in a $1500 POS? Do I need heated seats or a big moonroof, NO, but they sure to make my life much more enjoyable. I'll take 50+ years of living good, over being rich at the end when I'm too old to do a lot of the stuff I can do right now.
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post #6 of 39 (permalink) Old 08-24-2009, 11:39 AM
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Quote:
Originally Posted by 2point5awd View Post
However, I don't know many people that drive $1,500 cars...
We do... our '98 S set us back exactly $1500, and so did our '92 SVX. We're currently considering an early Miata in the $1000-1500 range. I'm a big fan of low budget beaters - just because they're cheap doesn't mean that they can't be fun or reliable, and they can certainly do the job just as well as a newer car. In fact, our SVX has a few creature comforts that even our more recent model Subies don't have. Plus, they're cheap to insure and register (big plus if you're in California).

I had to chuckle at slide #12, though... mentioning a stock market average of 12%. I would think the stock market would be a far too volatile investment vehicle (no pun intended) for such a short term. Good luck getting 12% on anything, anywhere...

Looks good in theory though.

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post #7 of 39 (permalink) Old 08-24-2009, 11:41 AM
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honestly, if i dont have a car payment, that money just goes to more toys.. like a new dslr this month x_X

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post #8 of 39 (permalink) Old 08-24-2009, 02:56 PM
 
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I just bought a perfectly functional and beautiful car for 1000$ Project Mayhem

It's no POS and its fun

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post #9 of 39 (permalink) Old 08-24-2009, 04:10 PM
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Quote:
Originally Posted by pleiad7 View Post
We do... our '98 S set us back exactly $1500, and so did our '92 SVX. We're currently considering an early Miata in the $1000-1500 range. I'm a big fan of low budget beaters - just because they're cheap doesn't mean that they can't be fun or reliable, and they can certainly do the job just as well as a newer car. In fact, our SVX has a few creature comforts that even our more recent model Subies don't have. Plus, they're cheap to insure and register (big plus if you're in California).

I had to chuckle at slide #12, though... mentioning a stock market average of 12%. I would think the stock market would be a far too volatile investment vehicle (no pun intended) for such a short term. Good luck getting 12% on anything, anywhere...

Looks good in theory though.

Wanna give me that SVX?

I want one so bad... it would make such a cool DD. I <3 3.3L

I am also a big fan of cheap, reliable transportation... I can't see my self buying a new car for a very, very long time. It just doesn't make sense to me, at my age, and with my small amount of cash, to put myself into debt like that. Insurance is eleventy billion times cheaper too.

-Zach
MY'06 Volvo V50 T5 6MT SportWagon
I miss my Subaru.
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post #10 of 39 (permalink) Old 08-24-2009, 05:52 PM
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Here's the problem in Canada. A $1500 car is such a rusted out POS that will have something breaking every 4 months to the tune of $250-500. Expect one section of the exhaust to fall off every 9 months. I used to drive cars like this when I had next to no money. Its nearly punishment to own one, every time it breaks it costs nearly everythign you have in the bank to fix it .THen when you start to save up some more money it breaks again.

Now that's not to say you can't buy a decent car for a little more money. My wife drives a 97 Legacy in great shape that she bought for just shy of $3k a year ago. Besides summer/winter tires & oil changes it shouldn't need a single part (hello 2.2 motor) in the next 2 years. In 3 years , that's 4 years of ownership she plans on upgrading. At that point she can get something even nicer for $10k.

I bought my 07 new only because the 05 was stolen. I plan on keeping it for at least 8 years and then we'll see if I want to keep it 2 more. So long as it doesn't start becoming a money pit and runs well I have no problem holding on to it.

We have friends who fit the bill of the video. They both have high mileage Honda's that were paid off nearly 10 years ago. The Civic just got written off so they bought a new Odyssey, with cash.

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post #11 of 39 (permalink) Old 08-24-2009, 06:03 PM
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I sometimes wonder if maybe I shoulda gone the used route or gotten a cheaper car and have it paid off by now instead of owing another 10k, especially when I don't own a home yet. That video makes a lot of sense even if those stock returns predate the recession.
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post #12 of 39 (permalink) Old 08-24-2009, 07:48 PM
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Hmm, I wonder how many more miles and years before our 04 XT becomes the $1500 'beater' that we should be buying.

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post #13 of 39 (permalink) Old 08-24-2009, 07:49 PM
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Wanna give me that SVX?

I want one so bad... it would make such a cool DD. I <3 3.3L
The SVX is actually about to become a dedicated long range commuter for Roo come September. We're talking 200 miles/day - at that rate she'll be the only one of our vehicles that can provide a quiet, relaxed ride and get mpg in the high 20's to low 30's.

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post #14 of 39 (permalink) Old 08-24-2009, 07:54 PM
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We're talking 200 miles/day

WW

I take it you guys are staying in Marin and Roo will be working the Silicone Valley.

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post #15 of 39 (permalink) Old 08-24-2009, 07:55 PM
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WW

I take it you guys are staying in Marin and Roo will be working the Silicone Valley.
For the next 3 months anyways... we'll see where it goes from there.

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