which is best buy a new car every few years or maintain the one we have?

Question

should we buy every few years or maintain the ford falcon au 2000 year model you have?,we have 4 ch and are wondering the best choice regarding cars and finance we want to make the best choices with money and cars !
thanks in advance.

Answer 1

money advisors say to payoff and maintain your current vehicle until you have your house and children paid for

Answer 2

One big question you should ask is if you have the car paid off yet. If its not and trade it in and purchase a new car whatever is left on it will be added to the new cars price (its called going into the deal upside down). This adds up and repeatedly doing it makes it impossible to ever pay the cars off. Another factor to think about is maintenance cost of the car, oil changes and tires are not as expensive as a new car. However, if you put hard miles (due to weather and terrain) then the maintenance maybe much more extensive than simple oil changes. One other thing is you may still get a decent trade in value for a car that needs repair from a dealership that is trying to make a new car sale. These are the things that I think about for my cars, normally I get the car paid off and drive it until I can't fix it easily or know a major repair is due soon and trade it in. Since I don't have kids I don't have to worry about keeping the car as a hand down when they are old enough to drive, but that is one thing you may start looking too.

Answer 3

Most people would probably say keep and maintain the one you have. I wish I could do that, but I have a hard time with it. I have a hard time keeping a car past it's warranty as I have horrible luck with cards - always the strangest things go wrong with them (mechanics scratching their heads 'we ain't never seen this happen before' kinda thing). By the time I hit 50k miles I have the new car itch bad. I'm approaching 60k right now on an '04 and have decided to keep it until October next year when I plan to move back to Ohio (and cheaper auto insurance) and closer to work...I have already narrowed down my choices for the next purchase.

And too, I'm kinda lucky this car has made it as long as it has...I've totalled 3 cars in my life - including one in '02 after having that car a year and one in '04...not even 2 1/2 years after buying that car.

Answer 4

Depends on so many things- how many miles are on it, condition, etc.
If you depend on it as your #1 vehicle for long trips, and/or work, I'd say once you get over 75,000 miles you might start looking around for a new one.
A lot of folks opt for a lease program of 3 or 4 years, and that way you always keep a newer vehicle.
But from the money end, I think you'd come out ahead buying and driving it until it wears out.

Answer 5

New cars feel good. Nice smell, every part is new, and a piece of mind warranty makes new cars appealing to many. However, cars depreciate on average 50% in three years. You have to ask yourself if the "keeping up with the Jones" is worth the price.

Answer 6

If you can do all the work that needs to be done , then maintain it . If you have to pay somebody , then stay in the lease system and trade it in every 2 - 3 years.

Answer 7

its best to maintain the one you have to a very good condition and maybe in a few years it may be worth more in a trade or selling it

Answer 8

when you find yourself spending more on repairs annually, than new car would cost: that's time to bite the bullet and get a new one....otherwise, change that oil faithfully, get belts & hoses etc. checked, keep eye on coolant & transmission fluid (if automatic) etc., and keep that puppy running!

I have 98 Honda Civic, 150k miles, plan to drive it till the wheels fall off