Consumer Reports says ‘keep that car’ and I’m thinking they’re right. In a study commissioned by the magazine, researchers found that keeping your car 15 years (about 225K miles) could save you as much as $31,000. If you left your calculator in your other slacks, that’s a lot of money.
The figure includes the cost of trading in/up every five years, as well as interest gained by investment after an auto loan is repaid. The article also included a handy list of good bets and bad bets for cars to make it the full marathon. Guess how many American-made autos were on the list?
Think of the impact on stewardship!
H/T:
Get Rich Slowly
I have a goal to keep my current car for a long time (I should probably set a mileage or year goal). It is good to see articles like this to encourage me!
The 89 Maxima and I are about to hit the 200k mark, and I hope to keep on chalking up the miles in the silver bullet for years to come!
[…] Given Jamie’s recent post about cars and his and my conversation with Greg about scooter’s, I’d like […]