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The Debt-Free Car Project Chapter 7: Sailing Past 150,000 Miles

Edmunds.comEdmunds.com Member, Administrator, Moderator Posts: 10,316
edited September 2014 in General

imageThe Debt-Free Car Project Chapter 7: Sailing Past 150,000 Miles

Our 1996 Lexus ES 300's voyage to 150,000 miles hit some rough water, but nothing that would sink our debt-free project car.

Read the full story here


Comments

  • stig9stig9 Member Posts: 1
    Oh come on 150,000 is nothing!!! my 2000 VW Passat just passed 200,000 miles.
  • peter_salinaspeter_salinas Member Posts: 10
    Mr. Montoya, is it Edmunds.com's recommendation to "to live with the oil leak and periodically check on the oil level?" It would seem to me on its face to likely be a state or federal regulatory violation to knowingly release oil into the environment that could enter waterways. At least in Texas, it is.
    • Texas Water Code, Section 7.145
    • A person intentionally or knowingly discharges or
    permits the discharge of a waste or pollutant into or adjacent to water in the state that causes or threatens to cause water pollution without strict compliance with all required permits or other authorization; Water in the state includes drainage ditches and storm water sewers
    • Each day is a separate violation
    • Imprisonment up to five years and/or a fine up to $100,000.
  • peter_salinaspeter_salinas Member Posts: 10
    Mr. Montoya, is it Edmunds.com's recommendation to "to live with the oil leak and periodically check on the oil level?" It would seem to me on its face to likely be a state or federal regulatory violation to knowingly release oil into the environment that could enter waterways. At least in Texas, it is.
    • Texas Water Code, Section 7.145
    • A person intentionally or knowingly discharges or
    permits the discharge of a waste or pollutant into or adjacent to water in the state that causes or threatens to cause water pollution without strict compliance with all required permits or other authorization; Water in the state includes drainage ditches and storm water sewers
    • Each day is a separate violation
    • Imprisonment up to five years and/or a fine up to $100,000.
  • yellowoneyellowone Member Posts: 1
    I read the whole article! Awesome! I really liked it, almost like a novel ;)
  • ltdan84ltdan84 Member Posts: 1
    While this series of articles is interesting, the message is clear, don't buy an older high mileage Lexus.
  • x_factorx_factor Member Posts: 1
    This article series is very interesting and a lot of it rings true. I do a slightly different strategy when it comes to cars. I buy either new cars or cream puff used cars (1 or 2 years old with about 12,000 miles per year or less) AND run the wheels off them. Currently my daily driver is a 2003 Nissan Altima 3.5 SE that I bought at 1 year old with 10K miles in Sept 2003. It now has 138K miles and my average monthly cost has been just over $200 per month (excluding routine maintenance -- oil changes, brakes, and tires). Yes as cars get older they start having more maintenance issues but in the long run -- if the financial factor of owning a car is your #1 issue -- this has proven to be a great way to go. Granted, right now with used car values relative to new car prices being significantly higher than normal a used car MAY not make sense now but a "run the wheels off it" strategy can also be done with a new car. I have purchased 2 new cars and 3 used cars for 2 drivers (my wife and I) in the past 22 years. All were well over 100K miles when I sold them, one had 148K. And while I don't have the receipts or a spreasheet to prove it (but I am a former financial analyst so I'm qualified to estimate), my average cost per month for all these cars is less than $200 per month over each car's life.
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