Is It Better to Replace Your Car Every 5 Years or Keep It for 15? The Numbers May Surprise You

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Is It Better to Replace Your Car Every 5 Years or Keep It for 15? The Numbers May Surprise You

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For many families, the financial choice is whether it's time to start making their car a revolving door or to stick with it for a decade and a half. A new car has peace of mind and modern technology, but an older car can mean a huge saving in the cost of transportation over the long term. When you examine the maths of depreciation, maintenance, insurance and financing, you will find that the real cost of ownership is surprisingly costly.