the economics of continually buying worn out, old beater cars

grappletech · 2006-07-29T04:41:58+00:00

My neighbor keeps buying these old, worn out beaters. He's been through about 5 or 6 in the past 2 years. They're always FWD GM cars, usually with the 3100, 3300, or 3400 V6 engines. They always have like at least 120K or up to 170K miles, are at least 10 years old, and they always cost around $1500-$2000 (he doesn't negogiate well). The pattern is always the same. After he buys it, a month or so goes by, and then something major happens to it (because of its age and because he's hard on cars). And it costs $500 to fix it. Then another few months goes by, and then something else major happens to his car, another $500 -- maybe more or less. Then the car invariably blows up totally and becomes a 3000 pound paperweight. Then other expenses occur -- several towing bills at about $100 a pop per year (he doesn't believe in AAA), missing work a few days per year, gas to drive his huge gas guzzling old GMC truck for a week or so before buying another car or fixing the present one. It costs him $150/week in gas to commute with his old GMC truck (he works far away). Plus, he's stressed and has almost gotten into some accidents over mechanical problems -- slipping trannies, bad brakes, etc.. So I figure he's out about $6000-$8000/annually on these clunkers and their repair, about $600 per month, averaged out. I suggested that he go down and finance himself a nice new car or nearly new car for $200/month. His credit is good. "I can't afford it", he said!!!!!!!! Then you try to tell him, he's already out more than that per month on the clunkers, but his eyes glaze over. Then I say no more, not wanting to pry into his personal matters too much more than I have already done so.

Jul 29, 2006 20 Replies

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Scott Buchanan 20 years ago

That sounds complicated. Do you usually get the same kind of car or try different manufactures?

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the economics of continually buying worn out, old beater cars

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