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Reply to "How much is too much to pay yearly in repairs for a paid off car?"
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[quote=Anonymous][quote=Anonymous]$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.[/quote] +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. [/quote]
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