When a driver faces a large repair bill for his or her car, it’s tempting to just head to the local dealership, trade in the car, and drive home in something new with a full warranty.
People justify the purchase by reasoning that it saves money on repairs. After all, a more reliable vehicle is far less likely to break down and will greatly reduce, or even eliminate, costly trips to the mechanic.
In many cases, though, it costs far less to keep and maintain an older car than it does to buy a new one. Let’s take a look at a couple of scenarios, and determine if it’s really cheaper to keep your current car.