Quote:
Originally Posted by GenXer
There are collector's cars which you buy and keep. Then there are cars like Toyota Corolla which will never go up in value. Why not lease/rent it for 3 years for $160 a month then give it right back once your child is old enough to have a vehicle of their own. New, fully warranty, reliable, free maintenance at least the first year. (some dealers are even offering free maintenance for longer) If you buy a decent used Corolla for $15K and sell it after 3 year, how much are you going to recoup when it's 6 years old with 60K miles? I bet you're going to lose at least $5700 not including new tires, brakes and other services.
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That's pretty much the worst example IMO.
If one doesn't care enough about cars to buy something more interesting; a Corolla is definitely a car to keep for 10 years and 100,000 miles.
There is no logical reason to replace a Corolla after 3 years; unless one was into cars—-but clearly they aren't if they bought a Corolla!
They rarely break down big, and repairs will be much cheaper. Even after 10 years they will be worth something.
That being said—-MY POST was about enthusiast cars, not practical runabouts.