Why Drive OMMMM (Own Mobile Multi-Media) Instead of Buying a New Car When Your Old One Breaks Down

When your old car breaks down, the appeal of purchasing a brand new one might not be as strong as you imagine. Financially, it often makes more sense to continue using your older car until it can no longer be safely repaired or maintained. This approach can save you significant amounts of money while still providing a safe and functional vehicle.

Cost-Effectiveness of Owning an Older Car

One of the main reasons people choose to hold onto their existing car instead of buying a new one is cost-effectiveness. By purchasing a reliable and well-maintained used car, you can drive it until it is no longer economically feasible to repair it, which may be well beyond its original projected lifespan. For instance, my 2006 Toyota Highlander remained in use for 18 years before being sold to my grandchildren for a discounted price. I currently drive a 2017 Honda CR-V, and I have no plans to replace it anytime soon due to its reliability and cost efficiency.

Reliability and Purpose Fulfillment

Both my SUV and pickup truck are less than 10 and 15 years old, respectively. They continue to look great and function well, are fully paid off, and meet my specific needs. There is no desire to keep up with neighbors for superficial appearance reasons. Reliable older vehicles, like the two I own, serve their intended purpose effectively and efficiently. In my case, maintenance costs have been minimal, totaling under $5,000 for my 03 Dodge over 11 years, bringing the total expenditure to less than $15,000.

Technology Risks in New Vehicles

Another factor to consider is the technology risks associated with modern vehicles. New cars come equipped with advanced electronic dashboards that serve as telephones, collecting data on your every movement and location. This technology can be intrusive, especially as the American government mandates such tracking systems. For example, the electronic dashboard can track your speed, braking behavior, and location in real-time. If you pulled over to use the bathroom at a truck stop, it could record the duration of your stop, including the location where you stopped.

Furthermore, these systems can perform actions like stopping your vehicle, changing lanes, and even driving your car for you. However, there is always a risk that these systems will fail. When they do, you are left with an expensive brick that will not move until you pay thousands of dollars to repair it. This risk is particularly concerning given the reliability issues that have been identified with the "enhanced" electronic and emission systems in newer vehicles.

Cost-Benefits of Keeping an Older Vehicle

Keeping an older vehicle can also save money on finance, insurance, and licensing. For example, my 2003 Dodge has been paid for for over a decade, and the total repair and maintenance costs have been under $5,000, amounting to less than $15,000 for 11 years. Replacing it with a similar new vehicle would cost over $70,000. Newer vehicles often suffer from reliability issues due to complex electronic systems, which can lead to higher repair costs and reduced longevity. My older vehicle, despite being a "beater," continues to perform admirably thanks to its well-maintained drivetrain and excellent reliability.

By opting to use an older car, you can avoid the financial burden of monthly payments, higher insurance premiums, and increased license fees. Additionally, you can focus on practical and reliable transportation that truly serves your needs without the added burden of modern technology risks.

Conclusion

While the allure of a new car is undeniable, the financial and practical benefits of maintaining and driving older vehicles are significant. By focusing on reliability, cost-effectiveness, and practicality, you can enjoy a more financially sound and realistic approach to vehicle ownership that aligns with your needs and circumstances.