The Hot New Car Is Your Old Car
For decades, Ashley Fletcher ditched his cars after they reached 50,000 miles. Now he plans to keep his 2004 Lexus RX 330 for two or three more years — or until it reaches 70,000 miles. If all goes well, he might shoot for 100,000 miles.
Like many drivers, Fletcher scaled back his automotive aspirations because of the economic downturn. “My portfolio lost about 40% last year, so I’m certainly in no mood to buy a new car,” says the retired sales and marketing executive from Pinehurst, N.C. To that end, he’s making a point of changing his oil and other fluids regularly and keeping his tires properly inflated to help them last longer.
Today, the scarcity of attractive terms for financing and leasing means that many people are keeping the cars they have. As a result, car dealerships are quiet while service shops buzz.
While many in the industry predict a return of demand for new vehicles within a year, others detect a deeper shift in consumer attitudes.
But that could change for good in a drawn-out recession. If the downturn lasts another year or two, he says, a “new frugality” could take hold that would include longer-term car ownership and disdain for pricey new models.
Photo by w i n t e r t w i n e d : :’s.
Jaclyn on January 22nd, 2009 9:43 am
I agree with keeping a vehicle all the way up to the point where it just plain wont run anymore. why bother getting a new vehicle every couple of year’s? i mean yeah…sure it’s nice to drive a new vehicle every couple of year’s, but it’s not always’ practical and why trade in something that still run’s great? if you take decent care of your vehicle…it will take care of you and serve you well for year’s and year’s. like the old saying “don’t fix it if it aint broke”…so…don’t get rid of it if it still work’s!
cassy on January 25th, 2009 9:26 pm
it is true! old cars are really hot cars,many people are collecting old cars just for collection,i too love cars specially the old one, coz they are cool and good value, for now it was only a dream, but i really want to have my own car even if it is old or new i dont care aslong us it will run and drive toa place where i want to go it can also a good investment for business!
lost car keys on January 26th, 2009 1:24 pm
I agree go do some meditation.
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