250,000 miles and still going strong
Posted
Dec 04 2008, 08:19 PM
by
Karen Datko
Rating:
Quartermain, Cathryn Sykes' trusty 1994 GMC Safari van, recently reached a big milestone -- 250,000 miles on the odometer, with the original engine and transmission, no less.
She paid $9,000 in cash for him 11 years ago and has treated him with loving care. In return, he's dependably hauled hay, plywood and a miniature horse, plus occasionally pulled a horse trailer.
What's not to love, she explains in an ode to her used van at Money to Spare. (Her dedication to her vehicle, "Quart" for short, reminds us of Miss Thrifty's regard for the fabulous Thriftymobile.)
Cathryn purchased Quartermain after he was traded in after less than four years by the original owner. If that owner continued to buy new and trade in at similar intervals, here's a comparison of what Cathryn and that owner spent:
- Cathryn's costs over time: Less than 5 cents per mile, including $3,000 in repairs but not fuel and routine maintenance.
- The original owner's costs over that same amount of time: About $34,860, or nearly 14 cents per mile.
Invested for 25 years with a 6% return, that would produce a hefty $155,648. "Is a 'new car' smell worth over $150,000? Or is it smarter to buy a good used car, maintain it properly, drive it gently and keep it until it racks up 250,000 miles or more?" she asks. "You decide. It's your money."
