Originally Posted by Mentos
Originally Posted by mr29
the cost of keeping it outweights the repairs and maintenance it needs and it would be smarter to buy a new one
Those costs will pale into insignificance when set against the depreciation you'll suffer on a newer car.
Don't get me wrong, like anyone I like buying new cars, but it certainly isn't the financially sensible route. Keeping your car longer or buying an older car, aside from very rare cases, will almost always work out cheaper in the long run.
My F10 535i brought new last year, will be expected to worth half of the car price in 3 years.
So in 3 years, my car will go from $58000 to $29000.
It is impossible for any maintenance to cost me $29000 dollars in 3 years. Which means you will never save any money in buying a new car.
If you can, keep the car 10-15 years till it die. That will save you the most money.