In a recent Consumer reports it was stated that by keeping a car until it’s in the ground can save you some serious cash. Here’s the link to that story:
http://www…esID=22994
Duh. Pretty basic stuff-Make something last longer you save money. Shame on people who don’t bother to take one business, accounting, or economics class when they have the chance, and believe all the TV ads.
In High School, a mandatory Auto-Maintenance and Repair course, one semester, two if you want, (drop a study hall) would save Americans thousands and thousands of dollars in car expenses incurred because of their own ignorance of even the basic automotive fundamentals. But no, we have far more important things to teach our kids…
Our culture is centered on the automobile but most of us don’t know (or care) how to open the hood. With a flock of sheep like that, who can blame mechanics for fleecing them?
Car depreciation and major problems is something that neither me or any of my kids go through. Many people don’t mind perpetual debt if it means shine and a new car smell. One-upping the neighbors is also a factor.
We keep cars a long time, put countless miles on them, and maintain them religiously.
The only deviation would be my son who leaped off the deep end a few weeks ago and bought a new Dodge Caliber.
Within the next year or two he’s going to learn a very valuable lesson in Automotive Economics; one I thought I had beaten into him.
I can’t wait till he comes down from Colorado on Thanksgiving and gives me the sordid details on that heap. No doubt the sales staff is still partying, at least from what little I’ve gleaned. 
Wow, CR actually got something right. Of course everyone in the world (except americans) already knew this. Now if they just triple their 200,000 mile recommendation, they may be starting to get the idea. There’s no reason to run the car into the ground, just maintain it correctly and drive it indefinitely. Amazing!
The CS list is missing a number of good cars that can easily go to 200,000 miles. 200,000 miles is the new 100,000 miles from the 1960s.
Leasing makes much more sense for a business.
I think many people know this however have other needs and desires along the way. Things happen like children(minivans), itches to feel free(sports car/convertible) or boredom. Thankfully humans have lots more emotion for better or worse that overtakes logic. A balance of both logic and emotions is great, however extremes on either end I have never liked. Logical people are quite boring and emotional ones well hard to take.
I prescribe to 10yrs/200,000 miles(whichever first) myself. The money I save on vehicles though just ends up on unpaid vacation and traveling expense for 3-4 weeks per year abroad.
Personally I think 8yrs/150,000 miles minimum is what most people should attain to get a great service without large expense. 200k is plausible but after 150k some expensive stuff typically needs replacing in modern vehicles making the used higher mileage vehicle less palatable to owners.
Even a decent 60s car would do 200K without a problem if their owners actually maintained them.