Would you consider keeping your car 15 to 20 years?
If you purchased your car brand new, financed it for 60 months and had no car
payments for next 10 to 15 years, think about how much money you could
save and use for repairs, not maintenance. No matter what went wrong,
you're saving money every year you don't have payments, that could be
$5,000 or more per year. There's no way you'll have $5,000 in actual repairs
year after that for 10 to 15 years. So, would be consider it?
Absolutely! I bought my '93 Chevy Caprice new on October 16, 1993. Paid it off January of 1998. Sold it June of 2012. I replaced the Caprice with an '08 Mercury Grand Marquis. It will be paid for June of '16 (I bought it used in May of '12 with 31,100 miles on it). I plan on having it until it's at least 15 years old. Hopefully until it's 20ish but 15 is good. HTH. -Jim
Js08016- Jim, good for you, the trick is to pick a car that has a great reliability record, it helps a lot. I kept my 1995 Honda Accord EX station wagon for 19 years. Happy Thanksgiving!
By the way, my 95 Honda Accord EX had the original engine and transmission with no problems at 150,000 miles and I sold the car for $3,000. Considering all the service I got from this car, it owed me nothing.
Good for you.
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