I bought my current car new 14 years ago. It has some issues that might be too expensive to fix so I might need to buy another car. My ideal car would be an electric car, but that is way too expensive for my budget. So I looked at hybrids. I might be able to make a hybrid work, but even a gas car will be stretching my budget.
And I plan to keep my next car until it breaks down - which hopefully would be about another 14 years.
Cars devaluate around 50% every 3 years, so if you bought a 3 year old car instead of new, you could swap it every 7 years for the same cost. And if it holds some residual value, even more often than that…
Some manufacturers even offer warranties on 3 year old leasing returns.
I’ve never understood the mentality of ‘its too expensive to fix’. $3000 is unobtainable, but $15000 just fine? My jeep needed a new engine, instead of buying a new car I just put a new engine in it. Saved me over ten grand and I’ve got transportation for at least the next ten years. Just fix your car, you’ll be better off in the long run.
I bought my current car new 14 years ago. It has some issues that might be too expensive to fix so I might need to buy another car. My ideal car would be an electric car, but that is way too expensive for my budget. So I looked at hybrids. I might be able to make a hybrid work, but even a gas car will be stretching my budget.
And I plan to keep my next car until it breaks down - which hopefully would be about another 14 years.
Cars devaluate around 50% every 3 years, so if you bought a 3 year old car instead of new, you could swap it every 7 years for the same cost. And if it holds some residual value, even more often than that…
Some manufacturers even offer warranties on 3 year old leasing returns.
I’ve never understood the mentality of ‘its too expensive to fix’. $3000 is unobtainable, but $15000 just fine? My jeep needed a new engine, instead of buying a new car I just put a new engine in it. Saved me over ten grand and I’ve got transportation for at least the next ten years. Just fix your car, you’ll be better off in the long run.