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Cars and Transportation
Reply to "Gut check re: car repair for 2004 Subaru"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]How hands off have the maintenance been? Did you at least change oil regularly? What's the nature of the repairs? There are plenty of new cars you can buy that'll get you 2-3 years of use for 2-3k of depreciation. I generally do not find used cars to be good financial decisions if the buyer can afford new - generally. [/quote] Only if they can pay cash. Otherwise you need to factor in the cost of the car loan. Plus of course insurance on a new car will be a lot more than insurance on a 14 year old car.[/quote] Car loans have very low interest rates, often subsidized by the manufacturer, for example 1.9% APR. I am not convinced that new cars cost more to insure: https://www.erieinsurance.com/blog/insuring-old-cars I guess you could drop full coverage to save money, so whatever floats your boat. [/quote]
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