How to Decide Whether to Keep or Replace Your Car

With the price of new cars increasing at an alarming rate, you may need to take a good look at the car you already have. Is it worth keeping?

Difficulty: Moderate

Instructions

Things You'll Need:

• Consumer Reports
• Consumer Reports
• Car Insurance
• Car Mechanics
• Consumer Reports

1. Look at the maintenance records (you did keep them, didn't you?). You've already spent money keeping your vehicle up and you're familiar with the completed work. If your car hasn't had many problems yet and your mechanic doesn't anticipate any major work in the future, you may want to hang on to it a little longer.

2. Consider insurance. Your '94 Honda Civic is going to cost you a lot less than a brand-spanking-new Ford Explorer.

3. Think about your needs. Does your two-door seem too small for your family of five? Can you stand the thought of your teenage son learning to drive in your new Town Car?

4. Check your gas mileage. If you're getting decent mileage now, a new car may not do that much better. But an old gas guzzler may cost enough to make it worth getting a new car with a better miles-per-gallon rating.

5. Ask your mechanic if parts for your current model are hard to find. If they are, this could become a problem if you need major repairs. New parts of some makes may be expensive, though, so keep that in mind if you decide to go shopping.

Tips & Warnings

• Read the auto reports in consumer magazines. These carry ratings for older cars and are based on reports from the people who own them.

on 9/22/2006 If you're really interested in buying one and you have enough money, then don't waste time. Buy a new one or another one of your choice. This is the only life we are living and before we go we need to live it nice and in peace, that's my choice!

on 11/22/2005 If your car is your friend? Has it been with you and not given you too many problems? Is it almost paid for? Then you may want to keep it. Or is it your enemy? Has it broken down a lot? Has it cost you lots of money? Has it stressed you out? Then it is time to part ways.

on 11/22/2005 If you have an old gas guzzler like, for instance, my Towncar, it would be a really good idea to sell. Though you may not be getting much for it, it pays off in the long run because you won't be paying so much for gas. Better mileage is always better.