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The Actual Cost of Driving an Old Car

Let’s make a simple comparison today…

Even though driving an older car may look cheaper at first, it’s usually not the case when you calculate all expenses (including the hidden ones).

Let’s start with a newer car…

If you’re driving a newer car, either brand new or quality pre-owned, your only expenses with the car are monthly payments, gas, insurance, and an oil change every now and then.

New Vs Old

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It’s waaaaaay different with an older piece of metal.

Usually, it’s paid off so there is no monthly payments. But, the costs of repairs are much higher. Small repair here. Another smaller repair here. Then something bigger shows up from time to time that puts a smile on your mechanic’s face, tears in your eyes, and gaping hole in your wallet.

Besides throwing money in repairing the old junk you’re also wasting time driving your car to mechanic and picking it up. At some point, you start noticing that your relationship with the mechanic is getting more and more personal.

What’s more…

You’re also spending more money on gas. Newer vehicles usually consume less fuel. If you drive a lot, you can easily spend over $100 per month extra there.

Don’t believe me?

Take notes for a couple months. Calculate repairs & difference in fuel consumption. Then compare it with a monthly payment for a similar newer car.

What you may see is…

You’re paying the same or just a little less for your existing car. So, you’re actually paying for a newer car, just still driving the old one.

Makes sense?

Add a couple extra dollars per month and you can be driving a nicer, safer, more economical and more reliable car, truck, or SUV.

Get a newer car you’re already paying for…


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