The bathtub shaped curve
All manufactured products follow a "bathtub shaped curve." That is initially there will be problems, inherent in the manufacturing process. The squeak, recall, loose bumper and failed part on a new car. Normally these are resolved in the first year or at least greatly diminished. Call this a to b (in the illustration below.) The better vehicle we buy the shorter this period.
Next we enter the reliability phase, the part we all love. This is expressed as b to c. Eventually the vehicle starts to wear out and problems start to rise, this is c to d. The longer we can remain between b and c the lower our cost of driving.
Extending b to c
The length of time it will take to go from b to c is primarily a result of three things:
- The type vehicle we select
- The maintenance the vehicle receives
- The shop that maintains the vehicle
1. Selecting a vehicle
My definition of a vehicle is: A means of getting from point A to point B in a reliable, economical and comfortable fashion. I understand to many a vehicle is a status symbol, not wrong, but they will not gain much from this article.
New vehicles lose a lot of value quickly. About 25% the first year, 20% the second and 15% the third. After that they lose value much more slowly. Buying a three-year old vehicle means getting the best price with the lowest risk. Even if a vehicle receives very little attention, it will likely be in very good condition after only three years.
A quality shop can perform a pre-purchase inspection and let you know you are getting a sound vehicle. Tip: Ask a trusted shop, what type vehicles they would recommend you look for.
2. Maintenance, the key to lower cost
A large portion of this site is dedicated to the benefits of proper maintenance. It is simply much cheaper to prevent problems, rather than pay to repair them. A proper transmission service, at $150.00 is 5% the cost of a transmission rebuild at $3,000.00.
3. The Shop
Not all shops are equal, not even close. Selecting a quality shop can save you far more money than you may ever realize. Aside from being sold things you don’t need, poor repairs result in a huge number of future problems. An improperly done coolant flush can cost thousands in future repair. Corrosion from improperly mixed coolant can eat away radiators, heater cores, water pumps, seals and gaskets.
A cheap set of improperly mounted and balanced tires can create a $1,200.00 rack and pinion leak. An improperly changed pinion seal can result in a $1,500.00 differential rebuild.
It’s does not have to be difficult. Find that right shop, buy a quality three-year old vehicle and bring it in once a year for maintenance. Of course you can also do much the same with the five-year old vehicle you presently own.
Fifteen-years and two-hundred fifty thousand trouble free miles, that’s AGCOnomics.
