Jump to content
FRIENDLY REMINDER ABOUT HUNTING REPORTS/TOPICS... Read more... ×
topdog1961

Driving for free...or close to it.

Recommended Posts

Dogwood

Thanks always wanted a Miata but I'm just under 6'2" and the older ones are a no go.  What year is yours?

Share this post


Link to post
Share on other sites
topdog1961

Third generation, 2010. We had two first gens and I do believe the current one has more room. It's certainly bigger on the outside, and I believe better looking. The first two generations are getting dated looking, IMO. 

Share this post


Link to post
Share on other sites
charlo slim

Some other cheapskate benefits of older vehicles:  no interest on car payments,  cheaper plates (permanent plates available past 10 y.o. in MT anyway), and liability only on insurance. It all starts to add up.

Share this post


Link to post
Share on other sites
topdog1961
35 minutes ago, charlo slim said:

Some other cheapskate benefits of older vehicles:  no interest on car payments,  cheaper plates (permanent plates available past 10 y.o. in MT anyway), and liability only on insurance. It all starts to add up.

 

Those are all good examples of the many advantages of driving older vehicles. But there is one potential disadvantage of putting more money into a beloved dependable older car than it's worth, as I have with my Hyundai, in eager anticipation of driving it another 100,000 miles for little or no cost. If you are involved in even a minor accident, even if it's not your fault and the other party has insurance, you're screwed. Knock on wood, that's not been an issue for me. 

Share this post


Link to post
Share on other sites
erik meade

I think you would be money ahead to commute in Miatas.

I am on my 6th Miata.  the first I wrecked and, due to the goofiness of insurance received double what I paid when they totaled it - so that doesn't count since you couldn't replicate that.

The others, I have mostly been able to sell them for what I paid after putting 20 - 40,000 miles on them.  If you average it out my car ownership cost per mile on my 120 mile round trip commute is well under a penny per mile.  I should sit down and calculate it sometime.  A couple of years ago I had an NC Miata, not near as fun as the NA's in my opinion, but I bought that 2007 NC for $7,400.  It has a hard top which I immediately sold for $1,800 - so $5,600 in the car.  I drove it 25,000 miles in a year - badly missed having an older generation Miata, so I put it for sale.  Sold it for $6,400.  I then bought a 2001 british racing green - similar results - sold the hard top for $1,100, then drove it for a bit less than a year and sold it, because I realized that I really just want to be driving the NA - pop-up headlight Miatas.  I have driven this one about 40,000 miles.  Given the direction NA prices are headed I will easily be able to get more than I paid again.

Part of the trick with Miatas is to buy them in the early winter months...  Sell the on warm spring days...

At any rate my ownership cost per mile on Miatas in the last dozen years has been below zero...

Share this post


Link to post
Share on other sites
erik meade

My good friend has had similar results buying Jeeps - driving them, then selling them for what he paid...

Share this post


Link to post
Share on other sites
martyg

I was a fortunate recipient of the VW diesel buy back program. I drive the car for 3+ years and they paid me $3,000 more than I paid for it. 8 months later I received an additional $450 from Bosch as part of the settlement. It was the vehicle that keeps on giving.

 

Best case scenario.... my GTI will encounter the same situation.

Share this post


Link to post
Share on other sites
topdog1961
1 hour ago, erik meade said:

Part of the trick with Miatas is to buy them in the early winter months...  Sell the on warm spring days...

 

That's a good point. Unfortunately I fell asleep driving the first Miata. It wasn't a total but close enough that I sold it to the body shop because I didn't want it back. In total I got what I paid for it after driving it one year. We bought the second one in October 1999 from a Chrysler dealer for $8,500, well under even the trade in value. I sold it a year and a half later for $11,000. I'm sure I could sell the current one for a profit a year later. 

 

I suppose if I wanted to wheel and deal like my nephew, I could drive for less than nothing. He loves the hunt for great deals on super clean ultra low mileage vehicles. He will go anywhere for one, drives them far a few months and makes money on them. I drove him to Detroit airport Saturday morning to fly to DC for a 2002 BMW with 60k miles. It's spotless, even in the nooks and crannies. It will replace his 2010 Lexus with 20k miles. I tell his wife of 27 years that it's a good thing he doesn't like changing women as often as he does cars. But he loves scouring the inter-web each evening for deals on highly desirable cars. Me, I like to hunt and fish for entertainment. 

Share this post


Link to post
Share on other sites
erik meade
47 minutes ago, topdog1961 said:

 I drove him to Detroit airport Saturday morning to fly to DC for a 2002 BMW with 60k miles.


Until I read more carefully I thought you were saying he found a spotless, 60K BMW 2002.  That would be something.  I'm sure the 2002 BMW is good too. : )

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×