Question: Should I Buy A New Car Or Keep My Old One?

Question: Should I Buy A New Car Or Keep My Old One?

If you buy a new car, its warranty means you’ll have at least three years (and often far longer) before you have to worry about paying for any major repairs.

Even buying a more reliable used car, such as a certified pre-owned vehicle, is enough to bring back some peace of mind.

Is it worth buying a new car?

It’s not fair or right, but new cars depreciate faster than used vehicles. To put it simply, if you buy a brand new car without a down payment, or if your monthly loan payment isn’t high enough to compensate for depreciation, you could end up owing more than the vehicle is worth.

How many years should you keep a new car?

Rule of thumb answer is at least twice as many year’s as the term of the original loan.So with a 4 year or 48 month term you need to drive it for 8 years . The problem is ,(and I have run into this dilemma) That in theory you should really get your monies worth to keep driving the vehicle til one of you dies .

Why you should keep driving your old car?

Should You Keep Your Old Car? Keep driving it and you save money not only because you don’t have to make payments on a new car, but also because insurance premiums are lower, and in some states, so are registration fees and personal-property taxes.

Photo in the article by “President of Russia”