best use to monetize old cars

[alohaKane]

thanks to this sub I am now an owner of two old beaters.

2010 VW Jetta, 79k miles
2011 Chevy Surburban, 67k miles

Just picked up the Chevy initially for personal use but I was just wondering if anybody have any ideas/experience how I can make money on these things besides selling it?

[roomtempmayo]

The problem with trying to monetize cars is that it usually involves depreciating the asset at nearly the rate of compensation.

[Dicey]

Holy shit, how can anything with less than 100k miles be a beater?

Our "new" car is a 2014 and our "old" one is a 2002. Both are still going strong with more miles than yours.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed. If that didn't work, I'd calculate tax and license on a newer car and figure out what investments I could buy with that money instead, which always worked.

[newco]

I too gasped on your definition of a beater.  I'm driving an '04 buick lesabre that just passed 85,000 miles and plan on driving it for at least another 200,000.  It's got a 3800 in it, the last good engine that GM made (or so my coworker told me who put 300,000+ on a lesabre). 

If you want to monetize these cars, sell your current cars if you have a payment on them, and drive these two into the ground. 

[GilesMM]

I guess you could pull a trailer with the Suburban and do dump runs for people.

[ChpBstrd]

A car dealer would put poor people on payment plans, repo the cars when they inevitably miss payments, and repeat the process until the cars are destroyed, eventually earning 3x the cars' purchase price. It's arguable if such arrangements look more like selling or renting.

Another option would be to part out the cars on eBay. Lots of people need low-mileage components like engines and transmissions and little things like body panels or interior pieces that are not worn out. Your cars may be worth more in pieces than as whole units, as counter-intuitive as that may seem. Take videos of the vehicles running and driving before disassembly. 

Of course, the best use of either car is preventing yourself from spending much more money on a late model vehicle, or enabling you to sell your late model vehicle.

[SmashYourSmartPhone]

thanks to this sub I am now an owner of two old beaters.

Wow.  Good for you!  I'm so impressed with how amazing your life is that you consider two mid-life, super low mileage cars "beaters"!

... is that the point of this thread, exactly?  A humblebrag fishing for reaction?  Good for you, you've accomplished it.

Now stop calling them beaters, because unless you've utterly trashed them (at which point, facepunches galore), they're not.  Not even close.

At a minimum, I'd consider 20 years, and 150-180k miles (depending on the car) to possibly, maybe, start to get you to that condition, but it also requires a good bit of neglect by a previous owner, because a well maintained, clean, 20 year old, 200k mile car is just a "car."  It should be boringly reliable and of no particular drama.  Unless it's something like a Dodge, then see if your local transmission shop has a loyalty punch card, "Buy 4 rebuilds, get your 5th free."

2010 VW Jetta, 79k miles

6000 miles a year, about half average miles.  Should be high value sold to the sort of person who wants a VW Jetta of that era, because it's going to be a good bit lower mileage than most of the stuff floating around.  Try a private forum to sell it.

2011 Chevy Surburban, 67k miles

5500 miles a year.  Same applies.

Just picked up the Chevy initially for personal use but I was just wondering if anybody have any ideas/experience how I can make money on these things besides selling it?

If you'd like them utterly trashed in short order, I hear Turo is a thing (or at least used to be a thing).  They promise the moon, and then don't deliver when a renter totals the car.

Otherwise, just drive them and maintain them well, or sell them.  Either of them should last you another good 20-30 years at your annual mileage.

[SmashYourSmartPhone]

Holy shit, how can anything with less than 100k miles be a beater?

Have you met some car owners?  If you smoke in it, get drive through every day and lob the remains in the back seat, then the passenger seat, and then start stuffing it into other random places, believe the manufacturer's recommended maintenance intervals and oil change intervals are "for suckers who don't know how much they're getting screwed changing their oil that often," and generally abuse the car constantly, it's possible.  Just rare.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed.

Yeah, that's a good way to enjoy your current car more.  And don't test drive new stuff unless you're actually planning to purchase.  It drives a huge amount of dissatisfaction with your current, perfectly good vehicle, which is why it's so easy to do.

Or just spend a good weekend worth of wrenching.  Do the plugs, get a shiny colored set of new wires, replace the O2 sensor, fuel filter, just... go through it and do stuff that needs doing.

Our daily driver is 11 years old and still going strong, the truck (rarely used but low miles and in very good shape, appreciating in value daily as there aren't many of it left with this few miles) is north of a quarter century...

[GuitarStv]

The best way to make money on cars is to minimize the number you have in your life.  They're all money pits of maintenance and insurance, so if you don't absolutely NEED them ditch 'em.

FWIW, I don't consider my '05 Corolla a beater.  There's still most of the original paint, and aren't any holes in the upholstery.  Only 300k km on it and it runs like a dream.  Maybe in another ten years.

[Alternatepriorities]

Maybe you could sell me the Jetta? if it's a hatchback version. :)

Anyone want to chime in on how a VW Jetta would compare to a Honda Fit? Our 2008 has 280k miles on it and I've been considering a replacement.

[zolotiyeruki]

Under 100k mile "beaters"?  Gee whiz, our three vehicles average 20 years old and 160k miles, and I only consider one and a half of them to be beaters!

Yeah, that's a good way to enjoy your current car more.  And don't test drive new stuff unless you're actually planning to purchase.  It drives a huge amount of dissatisfaction with your current, perfectly good vehicle, which is why it's so easy to do.

Interesting, whenever I've gone for a test drive, I've come away grateful for our current cars.  They're so beautifully simple and inexpensive to repair!  None of the silly "it's new tech, so we must put it into a car!" technology.  No thanks.  I'm not interested in losing my brakes because my touchscreen HVAC controls got a virus...    Harrumph!

Anyone want to chime in on how a VW Jetta would compare to a Honda Fit? Our 2008 has 280k miles on it and I've been considering a replacement.

I'd take your 280k-mile Fit over the 80k-mile Jetta any day.  Probably more reliable, and definitely easier to maintain and repair. :)

[Alternatepriorities]

Anyone want to chime in on how a VW Jetta would compare to a Honda Fit? Our 2008 has 280k miles on it and I've been considering a replacement.

I'd take your 280k-mile Fit over the 80k-mile Jetta any day.  Probably more reliable, and definitely easier to maintain and repair. :)

Ouch. I'll strike Jetta from the list of options. The Fit isn't bad to work on, no 2000 tacoma, but not bad.

DW would love a Subaru, but after working on two different models for friends I vetoed that as long as I do our mechanical work... One of them had an exhaust that wrapped around the oil filter. The other had the filter easily accessible on the top, but I had to unmount the engine to change a spark plug!.

[jc77]

Anyone want to chime in on how a VW Jetta would compare to a Honda Fit? Our 2008 has 280k miles on it and I've been considering a replacement.

I'd take your 280k-mile Fit over the 80k-mile Jetta any day.  Probably more reliable, and definitely easier to maintain and repair. :)

Ouch. I'll strike Jetta from the list of options. The Fit isn't bad to work on, no 2000 tacoma, but not bad.

DW would love a Subaru, but after working on two different models for friends I vetoed that as long as I do our mechanical work... One of them had an exhaust that wrapped around the oil filter. The other had the filter easily accessible on the top, but I had to unmount the engine to change a spark plug!.

I wrench my own as well and have been staying in the 1998-2005 range as ‘peak’ vehicles.  Easy to work on (even a car like an M5) and well engineered.

To me, a beater is a form a luxury.  A car (mine is an old xterra 5spd) that can get dented, hit, blow up, without any drama.  Steal it if you want, the doors are open!


Sent from my iPhone using Tapatalk Pro

[SmashYourSmartPhone]

Anyone want to chime in on how a VW Jetta would compare to a Honda Fit? Our 2008 has 280k miles on it and I've been considering a replacement.

Keep the Fit.  If you're curious, compression test it, but I'd run it until it dies.  It's a Gutless Honda 4-Cylinder Econobox.  They're basically indestructible.

Interesting, whenever I've gone for a test drive, I've come away grateful for our current cars.  They're so beautifully simple and inexpensive to repair!  None of the silly "it's new tech, so we must put it into a car!" technology.

Huh.  I suppose the only time I did a recent test drive, I did come away with that impression (I was genuinely curious about the F150 Lightning, and... nope, gonna keep the truck I have, because it's ancient and simply better in every way I care about).  That was less a thing in the late 90s and early 2000s when I worked out that you can drive all sorts of fun stuff for free with test drives, but it certainly led to dis-satisfaction with the $100 class cars I was driving (because I could afford them).

[alohaKane]

HAHA! my bad, totally forgot which forum I'm on.. well, I was considering Turo for a sec.. I may have to look deeper if its worth it.

thanks to this sub I am now an owner of two old beaters.

Wow.  Good for you!  I'm so impressed with how amazing your life is that you consider two mid-life, super low mileage cars "beaters"!

... is that the point of this thread, exactly?  A humblebrag fishing for reaction?  Good for you, you've accomplished it.

Now stop calling them beaters, because unless you've utterly trashed them (at which point, facepunches galore), they're not.  Not even close.

At a minimum, I'd consider 20 years, and 150-180k miles (depending on the car) to possibly, maybe, start to get you to that condition, but it also requires a good bit of neglect by a previous owner, because a well maintained, clean, 20 year old, 200k mile car is just a "car."  It should be boringly reliable and of no particular drama.  Unless it's something like a Dodge, then see if your local transmission shop has a loyalty punch card, "Buy 4 rebuilds, get your 5th free."

2010 VW Jetta, 79k miles

6000 miles a year, about half average miles.  Should be high value sold to the sort of person who wants a VW Jetta of that era, because it's going to be a good bit lower mileage than most of the stuff floating around.  Try a private forum to sell it.

2011 Chevy Surburban, 67k miles

5500 miles a year.  Same applies.

Just picked up the Chevy initially for personal use but I was just wondering if anybody have any ideas/experience how I can make money on these things besides selling it?

If you'd like them utterly trashed in short order, I hear Turo is a thing (or at least used to be a thing).  They promise the moon, and then don't deliver when a renter totals the car.

Otherwise, just drive them and maintain them well, or sell them.  Either of them should last you another good 20-30 years at your annual mileage.

[alohaKane]

Well i just said that maybe for my age group?? Coz I know majority would look down on these " beaters" lol Oh, that's what I was contemplating initially/ new car v. used. Then I ended up winning this Chevy at a auction. I have kids and living in the East coast so we needed something reliable for this winter/ maybe weekend trips.. So far though i think i got a good deal on this, will be keeping the miles low for resale later.

Holy shit, how can anything with less than 100k miles be a beater?

Our "new" car is a 2014 and our "old" one is a 2002. Both are still going strong with more miles than yours.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed. If that didn't work, I'd calculate tax and license on a newer car and figure out what investments I could buy with that money instead, which always worked.

[Dicey]

Well i just said that maybe for my age group?? Coz I know majority would look down on these " beaters" lol Oh, that's what I was contemplating initially/ new car v. used. Then I ended up winning this Chevy at a auction. I have kids and living in the East coast so we needed something reliable for this winter/ maybe weekend trips.. So far though i think i got a good deal on this, will be keeping the miles low for resale later.

Holy shit, how can anything with less than 100k miles be a beater?

Our "new" car is a 2014 and our "old" one is a 2002. Both are still going strong with more miles than yours.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed. If that didn't work, I'd calculate tax and license on a newer car and figure out what investments I could buy with that money instead, which always worked.

If I understand what you're saying, then I call BS. I was your age when I did exactly as I described. A shiny clean, well maintained car is not "beater".

More importantly,  being a mustachian means not giving a shit about what the "majority" think or look down on. Those are the very same people who say FIRE is impossible. Who cares?

[Alternatepriorities]

Well i just said that maybe for my age group?? Coz I know majority would look down on these " beaters" lol Oh, that's what I was contemplating initially/ new car v. used. Then I ended up winning this Chevy at a auction. I have kids and living in the East coast so we needed something reliable for this winter/ maybe weekend trips.. So far though i think i got a good deal on this, will be keeping the miles low for resale later.

Holy shit, how can anything with less than 100k miles be a beater?

Our "new" car is a 2014 and our "old" one is a 2002. Both are still going strong with more miles than yours.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed. If that didn't work, I'd calculate tax and license on a newer car and figure out what investments I could buy with that money instead, which always worked.

If I understand what you're saying, then I call BS. I was your age when I did exactly as I described. A shiny clean, well maintained car is not "beater".

More importantly,  being a mustachian means not giving a shit about what the "majority" think or look down on. Those are the very same people who say FIRE is impossible. Who cares?

Yeah I'm only 5 years older than you and most of my friends are younger than you. None one as ever said anything about my vehicles being beaters and they nave 185k and 280 miles on them. Actually most of my younger friends have taken serious interest in just how the heck I exited the work force 25 years early.

One of those friends did do Turo and he tripped his original purchase price of his car the first summer so he bought another and paid for it with Turo too. I think the frenzy has died down a little bit but it might be worth running the numbers.

[SmashYourSmartPhone]

HAHA! my bad, totally forgot which forum I'm on.. well, I was considering Turo for a sec.. I may have to look deeper if its worth it.

Look into their responsiveness and payouts when someone totals your car having rented it.  They are well known for having your back right up until you need it, then when there's actual damage, you get screwed.  Don't see the point in using them, at that point, and neither would I rent any of my vehicles out to people I didn't know.  Loan them to people I know and trust, yes, rent them to strangers, absolutely not.  But I also have what is, by far, the nicest set of vehicles I've owned, and intend to keep them in good shape for many, many years.

Well i just said that maybe for my age group?? Coz I know majority would look down on these " beaters" lol Oh, that's what I was contemplating initially/ new car v. used. Then I ended up winning this Chevy at a auction. I have kids and living in the East coast so we needed something reliable for this winter/ maybe weekend trips.. So far though i think i got a good deal on this, will be keeping the miles low for resale later.

First: Nobody cares as much as you think they care.  A random survey of people you know, likely very few would actually know year, make, model, and mileage of what you drive, and would look at you funny for even asking.

Second: Your group of friends, if they actually do care about this, sounds miserable.  I have lived in places, in circles where there was a lot of money and "new car leases" were the norm, and it was a circle of Hell in my opinion.  Nobody worked on anything themselves, and were very... annoying about luxury goods.

Do you hear any of the following regularly from your social group?  If so, may I suggest finding a better place to live?

- "It's just impossible to get ahead on $300k/yr.  Sure, it sounds like a lot, but by the time you take out mortgage, car leases, private school, some vacations... we're just barely scraping by!  I mean, we haven't even had the time to get the boat in the water this year because I've been working so much overtime trying to make things work!  Sure, if we made $700k, we'd be able to put some away, but... I just hope the bonus this year is enough to cover the loans we've taken out..."

- "You can't spend too much money on your kids safety.  Newer cars are so much more safe than older ones.  Sure, you have to spend a bit more on a new car lease, but the safety features are worth it!"

- Someone genuinely upset that their new iPhone 15 isn't the same connector that their car has, and trying to figure out how to get out of their lease early so they can get a new car that works with their new phone, and possibly mentioning "HELOC" in the process.

It's quite absurd what you find in the "attempting to live like they're richer than they are" sorts.

I'd much rather hang out with the "Get a car out of the runs & drives line at the junkyard, work on it for a week, and take it cross country" crowd I've spent time with.

Your cars are still good for decades.  Drive and maintain them as such.  And don't call them beaters where they can hear it.  Most cars don't like hearing that, and will act accordingly over time.

[JupiterGreen]

Holy shit, how can anything with less than 100k miles be a beater?

Our "new" car is a 2014 and our "old" one is a 2002. Both are still going strong with more miles than yours.

When I was in pre-FIRE mode, when I was jonesing for a new car, I'd have mine detailed. If that didn't work, I'd calculate tax and license on a newer car and figure out what investments I could buy with that money instead, which always worked.

Ha I thought the same thing. Dicey I like this strategy of having your car detailed! I always drive old cars and am not much of a car person (don't feel deprived) but I think I'm going to detail the old girl just to show her some love.

[alohaKane]

ha this is pretty accurate! Most of them talk which car to lease next  and some are itching about v12s. lol In my head goes like "OMgeee. all that monthly and ins. premiums go brrrrr!"

As a good friend of course, I'm all ears to them. From time to time I would throw a question like "do you really think that's the best move for your dollars?" I really try not to impose my ideas on some people but if I do care about you, I'd throw out some opinions your way.

Or maybe you're right.. I do need to find new friends. LOL 

HAHA! my bad, totally forgot which forum I'm on.. well, I was considering Turo for a sec.. I may have to look deeper if its worth it.

Look into their responsiveness and payouts when someone totals your car having rented it.  They are well known for having your back right up until you need it, then when there's actual damage, you get screwed.  Don't see the point in using them, at that point, and neither would I rent any of my vehicles out to people I didn't know.  Loan them to people I know and trust, yes, rent them to strangers, absolutely not.  But I also have what is, by far, the nicest set of vehicles I've owned, and intend to keep them in good shape for many, many years.

Well i just said that maybe for my age group?? Coz I know majority would look down on these " beaters" lol Oh, that's what I was contemplating initially/ new car v. used. Then I ended up winning this Chevy at a auction. I have kids and living in the East coast so we needed something reliable for this winter/ maybe weekend trips.. So far though i think i got a good deal on this, will be keeping the miles low for resale later.

First: Nobody cares as much as you think they care.  A random survey of people you know, likely very few would actually know year, make, model, and mileage of what you drive, and would look at you funny for even asking.

Second: Your group of friends, if they actually do care about this, sounds miserable.  I have lived in places, in circles where there was a lot of money and "new car leases" were the norm, and it was a circle of Hell in my opinion.  Nobody worked on anything themselves, and were very... annoying about luxury goods.

Do you hear any of the following regularly from your social group?  If so, may I suggest finding a better place to live?

- "It's just impossible to get ahead on $300k/yr.  Sure, it sounds like a lot, but by the time you take out mortgage, car leases, private school, some vacations... we're just barely scraping by!  I mean, we haven't even had the time to get the boat in the water this year because I've been working so much overtime trying to make things work!  Sure, if we made $700k, we'd be able to put some away, but... I just hope the bonus this year is enough to cover the loans we've taken out..."

- "You can't spend too much money on your kids safety.  Newer cars are so much more safe than older ones.  Sure, you have to spend a bit more on a new car lease, but the safety features are worth it!"

- Someone genuinely upset that their new iPhone 15 isn't the same connector that their car has, and trying to figure out how to get out of their lease early so they can get a new car that works with their new phone, and possibly mentioning "HELOC" in the process.

It's quite absurd what you find in the "attempting to live like they're richer than they are" sorts.

I'd much rather hang out with the "Get a car out of the runs & drives line at the junkyard, work on it for a week, and take it cross country" crowd I've spent time with.

Your cars are still good for decades.  Drive and maintain them as such.  And don't call them beaters where they can hear it.  Most cars don't like hearing that, and will act accordingly over time.

[SmashYourSmartPhone]

Or maybe you're right.. I do need to find new friends. LOL 

You are the average of your social group.

If your social group is new car leasing spendypants, you'll eventually become one of them.  I've seen it over and over from people who could easily have retired in a few years, who inflated their spending to consume their (very, very generous) income, and now have more money parked in their driveway than our house cost.