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Originally Posted by GTO Ever wondered how & why I keep my cars for so long? It’s simple = I buy the better car, even if it’s more expensive at the start, but retain it for 9 – 10 years (it's very EASY to hold onto a top-class car for longer). |
Holding on to any car, expensive or less so, for periods approaching 10 years or more, makes eminent financial sense. Pretty much all my cars have been with me for as long as possible, and have only been sold due to extenuating circumstances or requirements beyond my control.
For example:
1. Sold my August 2009 manufactured Scorpio in February 2019, due to the ban on >10-year-old diesels in Delhi;
2. Sold my January 2006 Swift in October 2018, due to the ban on >15-year-old petrol cars in Delhi, as well as the fact that I had bought a Thar, and 3 cars in a family of 2 did not make sense - and parking was becoming a problem;
3. Sold my 2004 Accent Viva CRDi in 2009 due to a chronic lumbar problem that prevented me from getting into low-slung cars;
4. Sold my 1984 Suzuki SS-80 in 2003 because of an unanticipated mechanical problem that would have cost me at least Rs.40,000 to fix;
5. Sold my 2001 Indica VLS in 2005 because of terrible niggles that left me tired of workshop visits every month or even more frequently.
So #1 and #2, my most recent sales, were due to laws and strictures that the government passed! Otherwise, I was ever so happy with both those cars, and I'd have kept them easily for another 3-5 years.
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Originally Posted by GTO If you buy a superior car today, I can guarantee that you'll keep it for longer. All other factors being the same, you will find it far easier to retain a superb car for 8 – 10 years (versus an ordinary / mediocre car). |
I would like to take a contrarian view on this statement. A superior (more expensive) car is not necessarily a great (or better) car. Often, our perception of what might be a great car is clouded by the vehicle's specifications on paper, recommendations from friends, usage, our need to be seen driving a particular vehicle (image), available garage/parking space, and multiple other factors. What I would consider a great car with whatever wisdom I have, is not necessarily a great car for someone else.
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Originally Posted by GTO Know what else is cool? 7 years down the line, your car will be better maintained too. How’s that? It’s basic human nature.
...a car from a higher segment will usually be built to finer standards + with better quality parts, which means that it'll age slower & last longer. If your car ages well, you will happily retain it for more years. |
Some cars progressively become prohibitively expensive to maintain as they age, and then there are some that suffer from scarcity of spares. A shirt or a pen require minimal maintenance, but cars certainly require a lot. I am amazed at, for example, Jeroen's doggedness about maintaining his cars, and the extent he goes to, to procure (and stock) specific spares and tools, as well as do a lot of DIY. Not easy to procure parts in India, and not everyone's cup of tea, that. In India, Jeroen would have been forced to scrap his Jaguar and W124, because he'd have been unable to renew their registrations, howsoever well-maintained those cars may be. Perhaps the Spyder would be considered a classic car and allowed to run on city roads for 2 days a year!
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Originally Posted by GTO ...holding onto your "nicer than expected car" for longer... |
Some cars hardly age in their shape, looks and performance. Example = the Scorpio. Hasn't changed much in 10 years. Still sold with the same engine & transmission. Yet, the government won't let me drive it, forcing me to sell it off or junk it. It was a car ahead of its times. In-built tyre pressure monitor, automatic start-stop system, rain-sensing wipers, follow-me-home headlamps, cruise control - features that didn't exist in cars twice that price 10 years ago. I'd have held on to it for a few years - but stupid government policies make sure I didn't. Cars are being treated like mobile phones today - even the most expensive phones are outdated in 3-4 years. After spending substantial amounts on high-end phones, I've figured that a cheaper mid-range phone that can be disposed of in 3 years, makes better sense financially than a high-end phone that needs to be rejected after 4 years.
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Originally Posted by GTO ...the changing landscape = downsized engines, shrinking variety of powerful diesels, increasing reliance on electronics, strict emission norms, electric cars etc. |
Downsized engines and cars were a sick joke played on us by the Indian government (10 years of the Small Car rule (<4-metre, <1.2L petrol, <1.5L diesel) : Has India benefitted?). The newest sick joke is trying to force-feed the country with half-baked (or super-expensive) EVs, and trying to ban diesels quickly. Whatever we buy, would likely be outdated in less time than we can imagine. Folks who bought a Reva or an E2O, considering it to be the car of the future (future-proof purchase), now find that the car isn't sold any more - how long will it take for spares to become scarce?
My take on buying cars in India today: 'Punch below your weight' when buying a new car today, as long as it suits your purposes and checks most of the boxes for you. Don't buy a car by over-stretching your budget, just because you want an 'elite' car. 5 years later one doesn't know what new regulations and strictures our courts, government and NGT will come up with. Buy a used car by all means, if you want to keep it for 3-4 years, or a new car for 5-6 years.
Conspiracy theory alert: The government, in collusion with automobile manufacturers, wants you to buy new cars frequently, to profit from the taxes and the sales. The powers-that-be don't want you to hold on to your car for too long!