Automotive

Not buying a car for the summer (and rent instead) turned out good!

  • Last Updated:
  • Jul 6th, 2021 5:24 pm
[OP]
Newbie
Aug 6, 2013
79 posts
57 upvotes

Not buying a car for the summer (and rent instead) turned out good!

First, I do not need a car on a daily usage. But to make the best use of my summer, I got very close to buy something like a 2004 Corolla and resell it at the end of the season. I was calculating such an operation would cost me around 1000$ for the summer, with a minimum of luck.

But then I started looking at a rental car for my biggest (10 days) trip of the season, and I got quote only 400$ cancellable. At that price for a much newer/comfortable car, I changed my mind and decided to go that way instead, and using Communauto for my non-planned trip instead.

Fast forward 2 days before my big trip, and I recheck the rental market to find a better deal at 267$ only. Meanwhile, I also realized I have a lot of friends around me who are very happy to drive if I invite them in my trips. Finally, I understood that Communauto pricing is actually quite good, you can use their Flex cars to do long-distance and the price would still be okay.

So this is probably what I will do for next years : putting aside a 1000$ rental car budget per summer (which I won’t calculate in the cost of my vacation), and check at the end of the season if I went over it or not. Dans so far, for 2021, it's looking good!
29 replies
Deal Addict
Nov 17, 2004
3221 posts
1576 upvotes
It would have been stupid to plan on buying a car for one roadtrip anyway Hammer

Not sure how this is a revelation.
Deal Addict
Sep 7, 2018
1877 posts
2287 upvotes
Nice where can I subscribe to your blog?
>Wake up and take the orange pill ...
Deal Addict
Apr 5, 2017
1484 posts
1334 upvotes
Edmonton, AB
Another way renting is better is if you have a new car itch. Can quickly satisfy that itch by renting something cool on Turo.

I had a Model S last year for a few days. Paid no more than $200. Free supercharging. Cheapest but nicest rental ever.
Banned
User avatar
Mar 7, 2007
5347 posts
3014 upvotes
Buying a car is definitely not a good idea anymore.

I am trying to figure out a way to get rid of our cars (my family has 2 cars).

Working from home during the pandemic is the tipping point. One part is public transportation, Uber, taxis, ridesharing, and renting....

The other part (still missing) is a car sharing service like Zipcar around me.
______________________________
Deal Addict
Apr 5, 2017
1484 posts
1334 upvotes
Edmonton, AB
motomondo wrote: Buying a car is definitely not a good idea anymore.

I am trying to figure out a way to get rid of our cars (my family has 2 cars).

Working from home during the pandemic is the tipping point. One part is public transportation, Uber, taxis, ridesharing, and renting....

The other part (still missing) is a car sharing service like Zipcar around me.
That, and vehicle prices are spiking from supply shortages. Ford for example will have to shut down most of its production until as late as end of August. All the vehicle ownership related costs are going up as well. Always going up with inflation to begin with.

I've completely shifted from my young and dumb early 20's dreaming of "sheet metal on wheels" status symbols and value my money way more in the stock market. I've been holding on to 5 beaters I got during mid pandemic low prices - those vehicles are now 2x the price in the used market. I've made decent coin buying and flipping before pandemic / used vehicle prices inflated. Mustangs, SUV's and desirables such as Toyota Corolla/Matrix and anything Honda. It would be difficult to do that now, decided to hold on to what I have as they are basically money printers at this point and for what I bought them for. Or they'll cover my ownership costs on them for a couple years.

Only way I'll get a new vehicle is if the AMC/Gamestop MOASS happens LOL I think that's a fair condition.
Banned
User avatar
Mar 7, 2007
5347 posts
3014 upvotes
tehwegz wrote: That, and vehicle prices are spiking from supply shortages. Ford for example will have to shut down most of its production until as late as end of August. All the vehicle ownership related costs are going up as well. Always going up with inflation to begin with.

I've completely shifted from my young and dumb early 20's dreaming of "sheet metal on wheels" status symbols and value my money way more in the stock market. I've been holding on to 5 beaters I got during mid pandemic low prices - those vehicles are now 2x the price in the used market. I've made decent coin buying and flipping before pandemic / used vehicle prices inflated. Mustangs, SUV's and desirables such as Toyota Corolla/Matrix and anything Honda. It would be difficult to do that now, decided to hold on to what I have as they are basically money printers at this point and for what I bought them for. Or they'll cover my ownership costs on them for a couple years.

Only way I'll get a new vehicle is if the AMC/Gamestop MOASS happens LOL I think that's a fair condition.

Personally, I spent 75% of my money on alcohol, coke, and women. The rest was wasted in the stock market.
______________________________
[OP]
Newbie
Aug 6, 2013
79 posts
57 upvotes
motomondo wrote: The other part (still missing) is a car sharing service like Zipcar around me.
And this is very key in the transport alternatives options. Car share and free floating fleets are a great answer to all the "what if" that often make us own a car for those few precious time.

And once you start using this kind of service, you are more free to use public transport (or even bike) when they are more adapted to a particular journey, and a car for the others.
Member
Dec 28, 2017
404 posts
179 upvotes
Burlington
With inflation.. ya it's pretty pricey.. I'm glad I bought mine right when lockdown began... 0.6% interest on Lexus and deep discount was the best move I made on buying a car.

When I bought my 2008 Nissan Altima.. it was 30k after negotiation.. pre covid, it was around 29k pre negotiation.. now is 34k .. on higher trim tho (they cut off the 2.5S model).
I would say if they still have 2.5S .. it will be around 32k pre negotiation.. after negotiation would still be $30k.

The price increase on auto isn't as bad as people think. Used Cars however is different.
Last edited by ayufan on Jul 2nd, 2021 6:15 pm, edited 1 time in total.
Deal Fanatic
User avatar
Jun 19, 2001
9206 posts
2867 upvotes
Far better to rent as needed, even if you rent a lot. I would stay away from turo though, checkout the cost and coverage of insurance vs free with a proper credit card at a rental co. And this year rental car rates have gone way up....and it is still better! This year I have used zero gas so far, though I travel at least 300km a week on my bike

It was a lot better last year renting for as little as $12 a day with unlimited milage
If you aren't willing to take small losses, then you will take big losses. This is my guarantee. -
Mark Minervini
Deal Fanatic
Jun 26, 2009
5293 posts
5085 upvotes
GTA
ayufan wrote: With inflation.. ya it's pretty pricey.. I'm glad I bought mind right when lockdown began... 0.6% interest on Lexus and deep discount was the best move I made on buying a car.

When I bought my 2008 Nissan Altima.. it was 30k after negotiation.. pre covid, it was around 29k pre negotiation.. now is 34k .. on higher trim tho (they cut off the 2.5S model).
I would say if they still have 2.5S .. it will be around 32k pre negotiation.. after negotiation would still be $30k.

The price increase on auto isn't as bad as people think. Used Cars however is different.
How many '08 altimas did you get for $29K? If only one you got terrible deal - I wouldn't pay more than 2 grand for '08. Hopefully you bouht entire fleet or something.
Member
Dec 28, 2017
404 posts
179 upvotes
Burlington
Tommy74 wrote: How many '08 altimas did you get for $29K? If only one you got terrible deal - I wouldn't pay more than 2 grand for '08. Hopefully you bouht entire fleet or something.
I got the 30k one when I was 18.. didn't negotiate a good deal . 30500 after tax.. got it for 30k.. back in 2007.

In 2019.. I saw 2020 Nissan Altima for 29k 2.5S model. So price went down after 12 years .
I only had one Altima.. drove it from 2007 to 2020.
Deal Expert
User avatar
Mar 9, 2007
15328 posts
12585 upvotes
Think of the Childre…
I came here for the downvote party.

WOULD SOMEBODY THINK OF THE CHILDREN!!!
Member
Mar 27, 2021
389 posts
474 upvotes
Car ownership behaviours will definitely shift with WFH.

My next car will be a fun car, ditching my penny pinching hybrid as I realized the resale value is actually UP.
Long Time RFDer / restarting life
[OP]
Newbie
Aug 6, 2013
79 posts
57 upvotes
zoro69 wrote: I would stay away from turo though
Was wondering if it’s only my region, but basically as long as you can use your cc insurance, or that you arnt looking for a Tesla, pricing on Turo makes no sense. When I check, I always find 10+ years old car with a limit on the mileage for around the same price as a brand new unlimited mileage rental.
Deal Fanatic
Jun 26, 2009
5293 posts
5085 upvotes
GTA
ayufan wrote: I got the 30k one when I was 18.. didn't negotiate a good deal . 30500 after tax.. got it for 30k.. back in 2007.

In 2019.. I saw 2020 Nissan Altima for 29k 2.5S model. So price went down after 12 years .
I only had one Altima.. drove it from 2007 to 2020.
That's better. It sounded like you bought '08 Altima last year right before Covid for 29K. I wouldn't call 2007 " before covid", just say " bought it in 2007. Or if you really like viruses - " shortly after Sars" Grinning Face With Smiling Eyes.
Member
Dec 28, 2017
404 posts
179 upvotes
Burlington
Tommy74 wrote: That's better. It sounded like you bought '08 Altima last year right before Covid for 29K. I wouldn't call 2007 " before covid", just say " bought it in 2007. Or if you really like viruses - " shortly after Sars" Grinning Face With Smiling Eyes.
Haha.. I should proof read my posts going forward . Good call.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)