How long do you typically own your stuff for?

[Anonymous Poster]

<blockquote><font size=1>In reply to:</font><hr>

For what it is worth, there has been some academic research on this topic. The conclusion is that the most economical route is to keep a vehicle until the cost of the next repair exceeds the value of the vehicle.

<hr></blockquote>



I have always practiced this, but phrased it as, "I'll drive it until the kid down the street can afford to buy it from me."

 

[RoyJackson]

I'm pretty good at buying used vehicles...never bought a POS (yet!!!).

But I have bought a few that didn't meet my expectations...they go fast < 1 year).

Otherwise, I hold onto them for 5 or 6 years.

 

[Mosey]

1989 4x4 Chevy Suburban bought used in 1993 with 70k miles, now 180k miles
1989 2wd Chevy Pickup bought used in 1998 with 130k miles, now 170k miles
1978 Jeep CJ-5 (4x4 of course!) bought used in 1996 with 89k miles, now 92k miles (just used for Jeep trails since I’ve had it)
2000 Boomer, bought new, plan to keep forever
1978 house, bought used in 1997
Married my one and only wife in 1991
Half owner of 1940 Farmall A, inherited from my parents in 2000, will keep forever
Half owner of 1950 JD B, inherited from my parents in 2000, will keep forever

The Suburban is the longest I’ve owned a vehicle. I’d like to trade the pickup for a 4x4, but otherwise I’d keep it.

Doug: “can do a lot of repairs for the price of one car payment”

I agree!

 

[billfires]

I tend to keep things for a while. Bought my Wheel Horse new in 1984, 1989 GMC Safari van - new Nov 88, has 175,000. 1991 Ford Ranger - new Jan 91, has 168,000. 1985 Yamaha Big Wheel(2 wheel atv) new Mar 89, was a leftover. 1977 Realistic stereo receiver and speakers. 2000 NH 1920 that I will hopefully have and use into retirement. Actually the tractor purchase came about after wife suggested that I buy a new truck. After pricing new F-350 4wd pickups(25000+) I told wife I was going to buy a backhoe. She laughed and 2 days later realized I was serious and gave me the OK. She jokingly asked if I was going to drive it to work, we are both full time firefighter/paramedics and live 1 mile from station. I will probably do just that when the weather turns warmer.

Bill C