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Reply to "When is the "tipping point" to getting a new car? "
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[quote=Anonymous]Two other factors to consider-- If you have a really old car, you can save on insurance by converting to a liability-only insurance policy. You're insured for the damage you do to someone else, but they won't pay to replace your car--which will be no big deal since the blue book value is probably squat anyway. Second, if you live in a jurisdiction that charges personal property taxes based on the value of your car, the new car will cost you a lot more in taxes. You can probably save several hundred bucks in insurance/taxes each year by hanging on to the old car. [/quote]
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