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  #1  
Old 12-20-2004, 08:07 PM
SVXMAN2001 SVXMAN2001 is offline
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Should I or shouldn't I?

Ok i was thinking....I am going to be in the market for another car pretty soon. No car comes close to the love i have of my svx but yet it is 14 years old. Should I

A) Just go and buy a new car or
B) take out a 20k loan and dump it all into the svx?

I know i'll probably get a biased response since we all here are a bunch of svx nuts! I just wanted to throw the question out to you guys....

I know in the long run it will be a heck of a lot cheaper to fix the svx up, in car insurance payments alone. I pay 40 bucks a month (min liability) as it is, that alone will help out the wallet....

Thoughts/Opinions welcome...Chris
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  #2  
Old 12-20-2004, 08:37 PM
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SVX!!!

I would elaborate, but I don't think I need to....
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  #3  
Old 12-20-2004, 10:49 PM
sharky512345 sharky512345 is offline
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buy a newer svx?
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  #4  
Old 12-20-2004, 11:05 PM
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You won't get anything like the SVX for $20K. Closest you'll get in that price range is a WRX. Go drive some new cars before you make a decision.
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  #5  
Old 12-20-2004, 11:58 PM
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The actual maintenance cost difference between new and used cars is not very different. The 'warranty years' don't really amount to free repairs. The cost of the maintenance during the warranty period is wrapped up in the purchase price. After the warranty expires, the maintenance cost difference is still about the same. In my experience, the newer the car, the more it costs to maintain it.

You can maintain virtually any used car for less money than the cost of virtually any new car. Even the cost of maintaining a fairly expensive car like an Italian exotic can be less than buying a fairly inexpensive car like a minivan. The truth is, the maintenance costs are effectively equal, but the depreciation cost makes buying a new car a rather expensive venture.

People talk themselves into buying a new car for the most silly reasons. "It's safer," or "It's more reliable," or "It gets better mileage," or even because it gets chicks. The most valid reason is the chicks!

Safer? Well, yes, slightly. This has more to do with the type of car than how old it is. An older Mercedes or Volvo will outperform any brand new Kia or Suzuki.

More reliable? Well, not really. A poorly maintained car will probably not be as reliable as a new car, but even when neglected, sometimes they are. Even just a moderately well-maintained used car is just as reliable, if not more reliable. I think of a used car as being "well tested." Many new car owners take several trips back to the dealer to get the bugs worked out. Sure, it's free, (minus the waste of your time and hassle,) but this expense is wrapped up in the purchase price, so you still pay for it. The cars you see sitting on the shoulder of the road are typically the worst examples of ill-maintained cars, and even they don't predominate the number of broken-down vehicles. Pay attention, there are plenty of new cars sitting on the shoulder and most auto shops have mostly new cars up on the lifts.

The expense of a new car that gets even five more miles to the gallon would literally require driving hundreds of thousands of miles per year. Here's the math for the average person:
$30,000 new car VS. $5,000 used car
12,000 miles per year * 25 miles per gallon = 480 gallons
480 gallons * $2 per gallon = $960 yearly fuel costs
$960 yearly fuel costs * 10 years = $9600
So if our $35k cars are only worth about $5k a decade later, our cars have depreciated $30k. Even if you bought a new car that used no fuel at all, your savings would be less than a third of the total loss.

Chicks... Well, the issue is not just chicks, but rather that "new car" experience. I bought an SVX because I wanted something fancy. I wanted a good-looking car, fast, fun, and a bit exotic. It had nothing to do with reliability, economy, or safety. I wanted a new toy and now it's mine. Don't kid yourself. If you want a new toy, buy it. Just don't make excuses. Cost is not a valid excuse. Wanting a minivan so your whole family and all their stuff will fit comfortably is an entirely different story. Wanting something for entirely emotional reasons is adequate justification.
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  #6  
Old 12-21-2004, 12:02 AM
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SubaRyu SubaRyu is offline
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I was kinda thinking about same thing... new car or keeping SVX. actually best way is to have both

I'm still in love with SVX, I can't imagine my life without it.
.....well, new car is great too though!!

-Ryu
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  #7  
Old 12-21-2004, 12:42 AM
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Quote:
Originally posted by UberRoo


You can maintain virtually any used car for less money than the cost of virtually any new car. Even the cost of maintaining a fairly expensive car like an Italian exotic can be less than buying a fairly inexpensive car like a minivan.
Huh? It's been a long time since you've paid to have an Italian exotic maintianed, hasn't it? heheheh Try driving one 15,000 miles/year, hauling around kids and groceries then get back to us. I know what you're trying to say, but that's stretching it a bit...
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  #8  
Old 12-21-2004, 02:01 AM
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get the loan, try to locate a low mileage 96-97 SVX and use ur current as parts... or fix it lightly
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  #9  
Old 12-21-2004, 05:56 AM
dcarrb dcarrb is offline
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I'm a solid advocate of keeping a car for as long as possible, and I concur with most of the points above, but I think it would be a huge mistake to borrow twenty grand to spend on your SVX. (If you had that kind of spare cash burning a hole in your pocket, that would be another matter.) Keep your SVX well maintained and stash those monthly loan payments in a savings account so that when the time to buy another ride finally does arrive, you can write a check and drive-off free and clear.

dcb
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  #10  
Old 12-21-2004, 07:42 AM
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Quote:
Originally posted by dcarrb
Keep your SVX well maintained and stash those monthly loan payments in a savings account so that when the time to buy another ride finally does arrive, you can write a check and drive-off free and clear.

dcb


Ding Ding Ding.......we have a winner.

Very well said, it took me a long time to realize that but I finally have, hence my purchase of an SVX and my sale of my Cobra to my little brother. The Cobra's 787.00/month payment plus insurance is what some people pay on their mortgage. (Yes, I have a 2004 Expedition too but that is my girlfriend's truck, and for that I traded in my beloved WRX....that sukked more than getting rid of my Cobra)

Do the smart thing and save as much money as you can until you have to take that loan because there is no other option.

Good luck
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  #11  
Old 12-21-2004, 01:12 PM
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Quote:
Originally posted by Beav
Huh? It's been a long time since you've paid to have an Italian exotic maintianed, hasn't it? heheheh Try driving one 15,000 miles/year, hauling around kids and groceries then get back to us. I know what you're trying to say, but that's stretching it a bit...
Admittedly, that's a pretty extreme example, but it's also true. A gentleman I know has owned several expensive cars, including several high-end Mercedes, a Ferrari, and a Porsche 911, all used cars but relatively new otherwise. The yearly ownership cost of each of them was less than the cost of his 1988 Subaru GL wagon, which required several major repairs. He had each car for several years. His luck with the Subaru wasn't very good and his luck with the expensive cars was perhaps a little better than average, but this isn't an uncommon experience.

A used Lotus costing $40k with might require $5k maintenance per year. A new minivan will depreciate way more than that during the first few years. It's an apples and oranges comparison, but costs are surprisingly similar. There's no comparing a million-dollar supercar against an econobox, but as long as you don't compare examples from the extreme ends of the spectrum, the math actually works.
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  #12  
Old 12-21-2004, 01:45 PM
dcarrb dcarrb is offline
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Quote:
Originally posted by UberRoo
There's no comparing a million-dollar supercar against an econobox, but as long as you don't compare examples from the extreme ends of the spectrum, the math actually works.
Example: I spent $3450 for my SVX and another $1500 or so early-on getting her back into good form. Okay, so I'm in for five grand. Had I bought a factory-fresh, comparably-equipped car, I would have lost more than that when I drove the thing off the lot.

dcb
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  #13  
Old 12-21-2004, 03:23 PM
SVXMAN2001 SVXMAN2001 is offline
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thanks for your advice guys! well taken. I know logically it makes little sense to dump 20k into the svx. My only hang up is my fanitcal infatuation with the car, maybe I'll just treat the svx as a life long restoration process haha...
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  #14  
Old 12-21-2004, 03:32 PM
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I'm just recalling my days in the late '70s when I used to work on exotics (back then that was Ferrari & Lambo, then on down to the low-end stuff - Porsche, Iso, Maserati, DeTomaso, V-12 Jags, RR, MB 6.3, etc.) Something as simple as a distributor cap for a Miura was $400+. Just the red plastic portion of a tail light lense for a Benz, (remember how small they were?) cost around $175. Move forward thirty years, how much does that come to? (not to mention the weird crap like having to properly warm-up the gear box, etc. Ya know, always babying the equipment so you won't break anything...prematurely.)

Like I said, I understand your point. I'm just trying to inject a little more reality into it. $5k/year is what Range Rover expects its customers to spend on maintenance these days, to keep their piddly stuff functional. How much do you think the Italian boys want to see fall out of your pockets on a 'per mile' basis?
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  #15  
Old 12-21-2004, 04:01 PM
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Quote:
Originally posted by dcarrb
Example: I spent $3450 for my SVX and another $1500 or so early-on getting her back into good form. Okay, so I'm in for five grand. Had I bought a factory-fresh, comparably-equipped car, I would have lost more than that when I drove the thing off the lot.

dcb
Very good point. Drive even a car that holds value well off the lot like a BMW/Lexus and you'll still take a 3-4K hit.

-Chike
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