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Which makes more sense to you?

A new-ish car every 5 years that basically needs not much more than tires and oil changes and you carry a loan on it,or a car you own outright,is more than 10 years old,and needs upkeep several times a year like brakes,electrical issues,and engine repairs?

 
butterflyblue19

Asked by butterflyblue19 at 7:21 PM on Oct. 28, 2010 in Just for Fun

Level 50 (383,297 Credits)
This question is closed.
Answers (7)
  • When maintenance starts costing more than the cost of making payments on a loan, then it is time to get a loan and a different car.
    Bmat

    Answer by Bmat at 7:22 PM on Oct. 28, 2010

  • As long as you are not upside down in your loan, the new car makes more since to me. For safety of my children too.
    dancinintherain

    Answer by dancinintherain at 7:24 PM on Oct. 28, 2010

  • I'm with these guys. The costs often balance out, especially if the new car is more fuel efficient. Plus, the safety of new cars gets better each year, which is important with kids. Just don't buy more car than you need.
    musicpisces

    Answer by musicpisces at 8:21 PM on Oct. 28, 2010

  • We own both of our vehicles. If you take care of them they will last a long time.
    meandmyshadow

    Answer by meandmyshadow at 8:20 PM on Oct. 28, 2010

  • Sometimes maitenence can cost more then the actual value of the car itself. However, buying a new car every five years will cost you more then the older car and maitenence combined. Not only with interest rates on the loan, but just the actual payments on the loan to begin with. A new loan every five years is not a smart idea. It will not save you money in the long run at all.
    JazzlikeMraz

    Answer by JazzlikeMraz at 8:25 PM on Oct. 28, 2010

  • Its not me. My friend has a 1999 Olds and this year alone has spent over $1000 in repairs and been without it for several weeks total
    butterflyblue19

    Comment by butterflyblue19 (original poster) at 8:44 PM on Oct. 28, 2010

  • i own my own car
    dutchcanadain

    Answer by dutchcanadain at 9:06 PM on Oct. 28, 2010