Reply to When is the "tipping point" to getting a new car?

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[quote=Anonymous]For us, it was when we knew the next repair was going to be $5,000.  We'd only had the car 2 years, we bought it used with 20,000 miles and expected to drive it till the wheels fell off.  But, we were at 52,000 miles and it was needing lots of repairs when it shouldn't have.  Things were just not 'right' and I was fearful to take the car on long distance trips.  We sold it before we were faced with a huge decision and have no regrets.

I now sleep better at night knowing that my family is safer in the newer car.  We had to give up several options that I loved but in order to stay within the budget we had, we could only buy a car for X dollars, regardless of what the salesman tried to sell me on.

I suggest buying a used car that is 1-2 years old with low mileage.  Pentagon Federal Credit Union has car loan rates around 1 percent so the interest is very small.  You can get a very nice sedan for around $15,000 and a minivan around $20,000 that are low mileage, 1-2 years old so your payment will not be that high.
Your car is 12 years old, [/quote]

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