I’m constantly being asked this question and while I’ve addressed this before, I’m happy to rehash it again. “When should I get rid of my old car and buy a new one?” Now many websites love to go over this and they have a very technical view of the whole thing but mine is much simpler. WHEN YOU CAN AFFORD ONE.
If you haven’t guessed by now, I am a very practical person and not a very sentimental one. I’m not one of those people who names my cars or holds onto them because they have some sentimental value to me.
They are tools to be used to get me from one place to another and hopefully be comfortable while doing so, period.
To me a newer Jeep is better than an older one.
My advice is to do the math. If the amount of money you are spending on your car is starting to equal what you could spend on a newer one (don’t forget to factor in the amount you will gain by selling the old one), my advice would be to get a newer one. If you are so in love with your car that you can’t give it up (believe me there are plenty of you out there) then by all means, dump all your life savings into it, but don’t come crying to me when you’re broken down on the side of the road without a dime to your name. I know that sounds harsh but so many people endlessly spend money on “Edwina” because she’s a part of the family. I’m sorry, NO.
Oh and if you have a classic car then ignore all of the above. Go ahead and
dump some money into that, up to a point, we need to preserve as many of those