On average, I keep a car for just shy of a decade. '84 Celica, '93 Camry, '02 Camry, '14 Acura TL. It's coming up on time for me to get back into the market.
My Acura, despite some frustrations in my early ownership, a portion of which were completely on me, still runs like a top. I am deeply impressed by the engine -- a tuned version of the six-cylinder from the Honda accord -- and the handling. Both are beyond my ability to push to their limit. Of all the cars I've owned, it's the only one that really stands out as having been a pleasure to drive. It's a little high on road noise and a little cramped for its size, but you can't help but appreciate how capable it is in any real life situation. If it had Android Auto I might keep it until 300k.
The quietness and smooth ride and utter reliability of the '93 Camry also should get its due. I went to the Toyota dealer with the intent of buying a Corolla and spotted that Camry which for some reason was stickered low enough to be at the high end of my price range. The deal was made and the car, at the time, was a revelation. That generation Camry has become something of legend. It was about the time Toyota was introducing the Lexus brand and the Camry was getting the benefit of the attention to quality that Toyota was giving its Lexus counterpart. If it didn't start to rust out, I might be driving it to this day.
So given my experience it would seem the Honda/Acura or Toyota/Lexus would be where I will return. Unfortunately, in the world of 2022, you can just walk into one of those dealers and scan the inventory. They don't have any. And if they do, they'll slap an extra few thousand on the top for the privilege.
What does the car market look like today? The new car market is in a bizarre state. With a few exceptions there is little or no inventory. Supply chains haven't much recovered from Covid, as far as I can tell. If you want a new car, you are in for a wait and probably paying some significant amount over MSRP. I am grateful that I don't have to finance because rates are soaring. I had occasion to visit my Acura dealer recently and I asked what was available. He said "Nothing. And the seven new cars getting delivered next week are already sold." Alas. But the fact is that since I am almost certainly going to buy Honda/Acura or Toyota/Lexus and they are highly unavailable right now, I'll almost certainly end up in the used market.
In contrast, the used market, which shot up in sync with the new market, has since been dropping significantly. My auto industry adviser, Car Dealership Guy, suggests this year end might be prime time to buy. That may be too soon for me, but I think and hope the drop may still have a way to go. Inventories will be going back up eventually (increasing supply) and the credit market has tightened (decreasing demand). I don't think that situation is going to change for half a year or so.
Now a confession. I am very seriously considering a minivan. I am of the opinion that the vast majority of people who buy an SUV would be better served by a minivan. More space, easier access, and, arguably, more comfort for the same money. You lose the off-road possibilities but the vast majority of SUVs never leave the pavement. Anyway, it appeals to my contrary nature.
Toyota Sienna looks to be a magnificent vehicle. It would be my first choice because of the hybrid engine. But to give you some idea of what I'm facing, a two year old model (2021) with 30k miles will still be pushing 50 large. Good grief. I paid half that for my Acura which was newer with fewer miles. I have a lot of research and consideration to do.
My next car might be my last. If I buy it when I'm 63 and keep it my standard nine years, well… At age 72 would I buy another car? Maybe by then there would be other options for transport. I could be one of those oldsters who never leaves The Villages and only needs a pimped-out golf cart.
In any event, I am in the car market again for only the fifth time in my life. Always an adventure.
