I recently had a conversation with my buddy Greg as to why he hasn't purchased a new car since graduating high school. I couldn't understand why he continued to drive a raggedy ass '95 Honda Civic DX (stock, mind you) that lacks every amenity of today's modern cars-things like power windows, door locks, and steering. He holds a well-paying job and could easily afford to buy a new car, but simply chooses not to. He claims driving an older car saves him money.
To prove his point, he did some calculations and showed me how much money he saved by driving his Civic for the past 15 years. Greg purchased his car, used, in 1995. He paid off the $250/month loan he took out for it in 1999, and thus hasn't had a car payment in past 11 years. With zero-percent interest and an estimated $3,000 in total repairs, those past 132 months netted Greg a savings of $30,000 over what he would've spent with a comparable lease or new car payment.
While not every car loan follows Greg's situation, his case was a prime example of how savings can accrue over the years. Of course, I imagine this would never work for you and me, being that we are car enthusiasts who take pleasure in spending our hard-earned money fixing up our rides. But with the money he saved over the years, Greg could walk into a dealership and drive away in a newer, more comfortable car like a '10 Acura RDX with a turbocharged, intercooled, 2.3-liter DOHC i-VTEC engine.
Why an RDX? I recently had the opportunity to drive an RDX press car that included all the bells and whistles, like an optional Acura Navigation System with AcuraLink real-time traffic and weather, and a premium sound system. The turbocharged four-cylinder engine delivers 240 hp and 260 lb-ft of torque, while the thing really does handle more like a sports car than an SUV. I found myself becoming more accustomed to the vehicle's new-car comfort with every mile, and pondered the thought, 'Should I continue to drive my Civic like Greg for another decade in order to save money and buy a newer car like the RDX, or continue to spend my paychecks modifying both WRXs sitting in my driveway?' If I wasn't such a car nut who's willing to sacrifice comfort and luxury to one day build a car with Porsche-like handling and horsepower numbers equivalent to those of our Top 5 Supras featured on page 76, I think I would have picked the latter.
Senior Editor
Scott Tsuneishi
scott@importtuner.com