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URL:  https://boards.fool.com/i-have-to-laugh-at-the-5-year-life-for-a-car-34320046.aspx

Subject:  Re: Emergency Fund Illusion in Retirement Date:  10/15/2019  3:51 PM
Author:  Rayvt Number:  95586 of 99409

I have to laugh at the 5 year life for a car. I'm a used car kind of guy. I generally buy them when they're 5 years old or so.

Every time it was time for us to buy a car, we always started out looked at the 3-5 year old used cars. Pretty quickly I realized that they were cheaper than a new car by the just about exact amount of mileage depreciation. IOW, it was cheaper not because it was a bargain, it was cheaper because it was partially used up.

But we generally kept them until they died. We still laugh about the time we were going to the dealer to trade in our Honda Civic to pick up the new car. The front quarter panels had rusted through, so they flapped like a goose taking off from a pond. A block before we turned into the dealer's lot, the red alternator light came on. Wife and I looked at each other and said, "Ohhhh. We won't tell them about that." We coasted down the driveway, got out of the car and never looked back.

But now that we are long retired, we thought, "Do we want to drive to the nursing home in a 10 year old junker? Or would we rather have new(ish) cars for the rest of our time on Earth?"
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