Keep your car vs. buying a new one? No Brainer

Buying a new car might sound cool and exciting, but keeping your current vehicle, and continually maintaining it at recommended intervals, makes more economic sense than purchasing a new one, says the non-profit Car Care Council.
“From the down payment to the monthly car payments and higher insurance rates, the cost of buying a new car adds up really fast,” said Rich White, executive director, Car Care Council. “By simply budgeting the equivalent of just one new car payment, you could cover an entire year’s worth of basic maintenance on your current vehicle and redirect the rest to beef up savings, take a vacation, or pay off credit card debt, college loans and other bills.”