Should I keep my car until 500,000 km or replace it sooner?

[MeraxRaleigh]

Economically, is it better to run your car to 500,000 kms? Or sell and replace often before the kms go up?

 

[pootytangshortstack]

All vehicles are consumable items. They are not investments.

If you want to be wealthy, keep your vehicles as long as possible.

If you want to be poor, change them often.

 

[EchoFlux88]

It really depends on the car, but if it’s one of those 90s/00s Japanese econoboxes, most of the time I’d say keep it.

 

[DcznSigPabs33]

Depends on vehicle and how reliable it has been

 

[JpnVenBilboSiyGuy]

I’d advise selling at the 4 year mark and expecting about 20 percent depreciation on Japanese brands. Then reinvest that in a new car. You’ll always have a new car, you won’t spend much on maintenance, and in 10 years it would have cost you the same as using it until the graveyard and buying new.

 

[HeathNukeMat]

I have a Ford Ranger with 300k, and I have been asking myself the same question. I do not really have the extra money to replace it, so it has stayed.

 

[CubicHazard]

Only if it’s a Camry

 

[ZachRikkiK1ng]

Tbh there are so many variables to this question:
type of vehicle
annual maintenance/repair costs
how vehicle ownership is structured
how the vehicle’s used

For me, having a Landcruiser in a company structure has significant tax implications if I sell which is still a good option bc after 10 years it’s worth more than what I paid new…

 

[krystyd17e]

Depends on your maintenance costs.
If it’s a Toyota Camry Hybrid that lasts FOREVER and uses very little fuel, then yes.
If the engine fails at 100,000kms and repair costs more than the car is worth, it’s better to trade in sooner.

 

[GrapplerAce23]

I’ll drive my Kia Cerato until it gives up the ghost snagged it dirt cheap, parts are cheap as chips, it racks up decent kms given my highway habit, and filling it up still won’t break the bank. It’s sitting at 190k kms now. I’ve piled on 98k kms in 3 years, and it hasn’t thrown a single tantrum.

 

[RiseAbove99]

Bro just buy the Camry.

 

[NeuroHaven]

Honestly, the only cars I’ve replaced were ones people smashed into me and wrote off. If you like the car and it’s well maintained, just keep it. And if you want a new one for tax deductible purposes, there are other options but that’s still a totally valid reason to upgrade.

 

[StaleRosaDoom]

It really depends on the car and the maintenance cost.

But honestly, I’d rather spend $2,000 on a car that’s worth $5k than get a loan for a new car that will cost $400 a month, plus higher insurance cost.