I was at my local mechanic (non-dealer) today and he said he was thinking about shutting down his business. I asked why and he said because these days people don't put up with spending a thousand here or there for maintenance of an older car, but instead get convinced by the dealership to buy new - especially with low rates like 0% financing.
I replied that to get a half-decent car you'd probably be looking at something that was at least $35,000, and they might not offer it at 0%. Even if they did, you'd be looking at just under $700 per month in car payments, so that in one year you'd be spending about $8,000 for your car. Surely that is a lot more than maintenance of an older vehicle.
He said to me that these days it's harder to find mechanics to work on later model cars because they have become so complicated, and more costly to maintain. So it's almost put all the independent mechanics out of business.
So I was then thinking that if you bought a new car, you surely wouldn't want to keep it after the warranty runs out because you would not be able to find a cheaper independent mechanic to fix it - and instead have to pay the big bucks to the dealership. So if that is the case, you might as well sell your car after the warranty runs out. And if that is true, you might as well lease the car because you would not have to worry about selling it, and you'd have a lower monthly payment.
So am I right then in thinking that the car companies have us over a barrel? Essentially now, we're being forced to rent our cars and never own it without the burden of high maintenance costs?
Because I sure as hell would be scared to own a later model Benz, BMW, Volvo, VW or even Toyota that's just gotten out of warranty, with the way these cars are so complicated these days.
Your thoughts gents?
I replied that to get a half-decent car you'd probably be looking at something that was at least $35,000, and they might not offer it at 0%. Even if they did, you'd be looking at just under $700 per month in car payments, so that in one year you'd be spending about $8,000 for your car. Surely that is a lot more than maintenance of an older vehicle.
He said to me that these days it's harder to find mechanics to work on later model cars because they have become so complicated, and more costly to maintain. So it's almost put all the independent mechanics out of business.
So I was then thinking that if you bought a new car, you surely wouldn't want to keep it after the warranty runs out because you would not be able to find a cheaper independent mechanic to fix it - and instead have to pay the big bucks to the dealership. So if that is the case, you might as well sell your car after the warranty runs out. And if that is true, you might as well lease the car because you would not have to worry about selling it, and you'd have a lower monthly payment.
So am I right then in thinking that the car companies have us over a barrel? Essentially now, we're being forced to rent our cars and never own it without the burden of high maintenance costs?
Because I sure as hell would be scared to own a later model Benz, BMW, Volvo, VW or even Toyota that's just gotten out of warranty, with the way these cars are so complicated these days.
Your thoughts gents?
