1994-2002 [Subscribe to Daily Digest] |
Depends. If it's been good, maybe it will continue to be good. And i bet it's already paid for, and repairs will usually not equal payments.
I traded my saturn at near 100K miles. It had been flawless--BUT i think many thousands in repars were in the offing, so i'm sort-of glad i traded it, i got a good trade-in and i didn't have to pay for repairs. BUT i took on car payments again, and being temporarily out of work, that's a financial burden i'd rather not have, and reapirs would not have been that great, in reality.
My thinking is to establish a fund, and put in what you want to pay for a car per month: payments, insurance, repairs, etc. Pay all car costs out of that fund, and plan ahead, of course. My goal was $500 a month. The fund builds up in good times: no payments or repairs. It may build up enough that a new car for cash, or with a big downpayment and low monthly payments looks good. Or you can keep a older car for a long time ( no payments and cheaper insurance ) and even paying for reapirs out of the fund, it may grow and grow for a long time until you can afford your dream car.
I tend to think that a relaible car purchased for a long time is the way to go for economical transport. Let's say yo trade your old car for a *nice* new one. 25K is a realistic difference. Keeping your old car, that's 2,500 a year saved in jsut interest-- that may well cover maintenence and repairs, and you still have your 25K nest egg, and you don't have that new car losing value like a rock.
The saab lease deals available on basic cars seem to come to about $4500-5000 a year. Again, i think that reapirs and maint will come to less than that, plus that's a base 9-3 and your insurance will be higher.
dave
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