Keep Your Old Car

Tom Venetis, writing for Auto Service World, argues that with proper maintenance you may never need to buy another car!

GoBankingRates.com suggests that when a car’s maintenance costs exceed the monthly payments on a new or leased vehicle, it’s time to abandon the old car in favour of a newer model. Venetis points out that there are many costs GoBankingRates.com never considered, which ultimately make choosing a new vehicle costlier. These costs include depreciation of the car’s value, buying out the remaining value of a car when the lease is up, or changing to a new lease.

Maintaining a vehicle from the start, Venetis says, is the key to saving money on it. Staying on top of regular maintenance, oil changes, transmission inspections, small repairs, and rust-proofing ensures that your vehicle will look and operate like new for a very long time.