How much is too much to pay yearly in repairs for a paid off car?

[Anonymous]

Anonymous wrote:$2k per year is nowhere near where I would consider getting rid of a paid off car. A new car costs way more per year to drive than that.

+1

$2000 annually on repairs is $166 a month.


Show me a new car you can buy (OR lease!) for $166 a month.

I guess it’s possible if you put like $35,000 on a $40,000 car and financed the other $5,000 for 60 months at 9-something %.


Unless you’re spending $500 or more each and every month, nonstop, you are NEVER going to be ahead with a new car.

The whole point of of keeping a paid off car is that it lets you sock away extra savings each month that would otherwise be going to a car note, if you financed a car.

If you pay cash for a car, you’re even further ahead. Even more so if it was a used car that’s already seen some depreciation.