How often do you switch cars?

Question

I find it interesting that I know half of people who buy used cars and know how to bargain, the other half buys new cars with nothing down and brags about their deal.

After watching Dave Ramsey's video on 'free cars', I am wondering how true it is that people who buy new cars take out a 6 year loan, and switch to a new car as soon as it's paid off. It sounds a little exaggerated to me. Forget the part where Dave talks about investing here and there, I just wanna know, for people who buy new cars, how long do they (or plan to) keep the car?

I'm talking people who get NEW CARS. So used cars don't count here.

But. Can somebody describe to me the advantages of owning a car rather than leasing one if one was to bail out every 6 years (or when the car loan ends)?

Answer 1

i bought my first new car in 1964 little fairlane 500 -- since than i have bought 8 new vehicles -- i still have the 1992 pickup and i also have a 2002 ford suv --- what i do is when i need a car i just pay cash -- but each month so much of my money goes in to a separate account (right now it is earmarked in mutual funds) and make a small car payment to myself!!! sorry i can not address the subject of a lease vs buy!!!

Answer 2

I've had my current car for five years (an '89 Nissan 240 SX). I'm currently searching for a newer (definitely not new) car. Most people who are going to do what you are describing opt to lease a car rather than to purchase.

Answer 3

i trade my car about every 6 months becuase i get tired of it...