Keep My Vehicle or Buy a Replacement?
Should I invest in my current vehicle or purchase a new one?
To answer this question, there are factors to consider.
Is the vehicle frame or underbody rusted beyond the point of repair?
If the answer is no, the vehicle is a good candidate to keep for many years. Properly maintaining your vehicle will be your lowest cost of transportation.
A properly maintained vehicle can be dependable and last for a minimum of 20 years and 500,000.00 miles with proper long-term car maintenance
Why Keep My Vehicle vs Buying A New Car
- My vehicle is in good condition and will be after service and repairs during a long-term car maintenance appointment.
- Even though the cost of repairs may exceed vehicle value, the cost of replacement is what’s critical to focus on.
- Lowest cost of transportation. The charts below show the cost of buying a new vehicle. Within the first 6 years the cost is from $42,000 for a Nissan Versa to $139,000.00 for a Porsche Cayanne.
- I like my car; I am accustomed to all the controls. I can handle my vehicle comfortably when driving, parking etc.
- I am environmentally conscious. A vehicle not bought is a vehicle not built! Manufacturing a vehicle has a substantial negative impact on the planet. The resources and energy required to build a vehicle take things from our planet and add pollution, hence a long-term car maintenance plan is a priority.
Long-term Car Maintenance Chart Explanation:
- Vehicle costs were sourced from consumer reports. The price is an average of the highest and lowest published cost.
- The chart includes Massachusetts sales and excise tax.
- No trade in
- 6.5% interest rate
- 72-month loan (6 years)
Replacing My Vehicle vs Long-term Car Maintenance
- Lifestyle change
- New technology/safety features
- Fuel savings
- New business venture/mitigating business taxes.
- I just want it (emotional fulfillment).
A Wise Persons Vehicle Purchase
For the lowest cost of transportation
Buy a well-maintained vehicle that is 2 to 4 years old with an odometer reading of no more than 30,000 to 50,000 miles. Do not purchase a vehicle without a pre-purchase inspection. Bring the vehicle to Angie’s for your pre-purchase inspection, and let’s plan your long-term car maintenance.
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