<prompt> Human: I know it is not conventional wisdom, and in fact I know that it is not the least expensive way to obtain transportation. But I like to buy a new car, drive it until it is not practical to continue driving or repairing it, and then buy another one.I know Ive had good luck, but I also think this is a counter-argument to never buy a new car - the argument Ive heard is that it loses some large percentage of its value as soon as you drive it off the lot. But thats only relevant if youre interested in the cars sale value at some point close to the time of purchase. And also that its value might not equal its loan payoff, only relevant if you take out a loan to buy the car. I know Im extremely fortunate that I have not had to do this for the 4 cars Ive bought this way. My current car has worked out well this way. Its a 2003 Camry SE, manual transmission, purchased new right after the 2004 models came out. It had been sitting on the lot for a while, sometimes dealers have trouble moving manual transmission cars. It now has over 200k miles on it. There was a headlight I had to replace, and of course consumables brakes, tires, I think a battery. I had some interior water damage because the drainage for the ! moon roof clogged up and gave me no warning. The electric controls on the windows have gotten flaky, I will need to have those repaired. Its now due for a 30k maintenance; I should mention that Ive been uncharacteristically good about oil changes and such for the life of the car.And thats been about it. In other words, I havent had to put much into repairs in 15 years. Partly good luck, partly judgement in purchasing a Toyota in the first place. But its also part of the advantage of buying a new car -- one is less likely to get one that has hidden problems that you end up having to fix.So my check engine light came on yesterday, and the code indicates a bad catalytic converter. It will be 1100 to replace. My well-trusted mechanic of 28 years talks of it as a death sentence for the car lets reset the code and see if it comes back on, and meanwhile you can hold off doing the 30k maintenance in case it does. I looked up Bluebook values, the trade-in is about 900 and the middle of the range for private sale about 2600.The thing is, I dont want to sell the car. The extent to which I like the car is a running joke in my wifes family. Theres no great reason for this -- I mean, its not a sporty wonder that gets any ooohs from the crowd, the 4-cylinder 5-speed isnt going to win any races, its not quite old enough to be quaint. Its just a Camry.But I like driving it. if I need to merge into traffic, theres plenty of acceleration. It always feels solid on the road sports suspension, wide tires, no ! anti-lock brakes. It has enough room for what I do. It suits me.So if the check engine light comes back on, Im liable to patiently explain to my mechanic that I appreciate and value, and trust his opinion that the car is not worth the repair, but have him do it anyway. Ill point out that, the longer I keep it, the more often Ill be bringing it in! I have the money for a new car -- a new car Id want, anyway, probably something similar to this one -- but Im rather inclined to keep this one, spend some money on repairs both these and ones we have to expect in the next few years, and not replace it yet. I suppose its worth mentioning that I despise practically everything about the process of buying a new car.Anyway, thats my story. If people have other perspectives, or want to ask something about why I think this has worked out well, post away.  <response>: I think youre doing things right. Youre not buying luxe or near-luxe cars new that then depreciate heavily, youre not buying every four or five years and losing equity on each rollover, youre maximizing the value of the long middle term of ownership -- keeping the car through the initial heavy depreciation slump, and through years 5 through 10 when the car is paid for, depreciating far more slowly, and still mechanically competent.Weve kept some cars Volvo, Honda 12 or 13 years and derived great value overall. That said I would not repeat buying a pricier car like a Volvo new. If i wanted another car in that class I would look for a CPO coming off lease, or just lease myself. The Volvo was a classic case of a bell-shaped value curve. In its first two years it was a hangar queen, beset by warranty repairs and recalls. Then it ran uncomplainingly for almost a decade; then in its last 12-18 months with us the shop bills pretty much equalled new car payments. I liked being there for years 3 through 11; they were worth the purchase prices, and the frustrations at the beginning and end. 