New Car vs. Old Car
So which is a better financial move, an older, paid-for car that requires more maintenance, or a more dependable new and financed model?
Not only are there explicit financial considerations, such as monthly payments, maintenance, and gas mileage, but there are also intangibles to consider, such as safety features and professional demands. Underestimating even one of these factors could lead you to making the wrong decision, and ultimately end up costing a bundle.
Repair Costs vs. Monthly Payments
Whenever monthly used car maintenance expenses exceed an estimated monthly auto payment, it could be time to…