Need your advice

Hi Kari:

I have a nice reliable car. However, it is closing in on 180,000 miles. I have several options:
(1) I'm guessing within the next 6 months something is bound to break down. It ain't a lemon it has 180,000 miles. I could go ahead and fix it at the cost of $500-1000. Such a repair will hopefully keep the car going for about another 2 years.
(2) I could go for a used car around $10,000 and that should last about 5+ years.
(3) I could get a new car for around $15,000-20,000 and that should last about 10+ years.

What do you think?

Be good and be well,
Rene

ed. note - this post is a repost as the prior version went buggy...

1 Comments:

Kari said...

I forget who it is, but there's a financial advisor with a nationally syndicated program who says the car you have is always the best deal. He's talking financially, of course, because after some point it doesn't make sense to hold on to a car that either isn't safe or no longer meets your needs. His point, though, is that you pay a premium for anything you buy -- particularly new, but even used.
10:49:00 AM