Having A Hard Time Getting Rid Of Your Car? Here's 5 Reasons To Dump It

Here is 5 reasons to hang on to it , 1. I do not need any more debt, 2. The ax is swinging at work, 3. It still runs good, 4.It's nice not having a car payment , and the number 5 reason is ,, the better half says , we need new furniture !

Don't forget that the old car isn't going to depreciate as quickly.

A few more why nots...New cars souless
...New ones all look alike
...No car payments
...Lower insurance
...In time its a classic
...Mother-in-law will not ride in it

I'll counter his 5 reasons:

1) Economy - my car gets 30mpg, has 125,000 miles, and has had nothing but regular maintenance. You lose.

2) Power - 130hp is not a lot and I admit my car is not a speedster. But I still get up to highway speeds, can pass when needed, and maintain a comfortable traffic flow. You lose.

3) Safety - The only thing missing from my car is the additional 9 airbags they supply now, oh and the weight. You lose.

4) Tech - I don't care about bluetooth, navigation, high end stereos, satellit radio, electronic throttles, millions of sensors, etc. I have a drive by cable with a CD/stereo and ipod hookup, a clock, mirrors, lights, and all needed information on my dash. I don't need computers to keep me in check. You lose.

5) Comfort and Design - I've done several multi-hour trips including down and back to the Outer Banks (11+ hours). I'm not fatigued or cramped. I also own a hatchback which is a design I love that manufacturers have yet to embrace too much in the U.S. market. So my options are limited for a new car. You lose agian.

It may be slow and high in mileage, but my AWD XR Matrix just got a new set of shoes and brakes are coming soon, so aside from oil changes and the upcoming serpentine belt (changed once already). I'm looking forward to saving $350 a month in car payments this summer when the title is in my hand. I don't know about you, but $350 a month is a good chunk of change for my savings account to take in with the increase in food, gas, healthcare, etc. I'm holding out as long as I can.

Don't forget that today's vehicles are more complex making them more expensive to repair down the road and difficult to repair oneself. I do all the maintenance and a lot of the repairs on my older vehicles saving me a lot of money on labor charges and dealer parts costs. All my cars have nav, bluetooth, backup cameras and nice stereos all of which are aftermarket which I installed myself at hugh savings over what the dealer wants for these upgrades. The aftermarket stuff is usually better quality anyway.

One of my vehicles, a 2001 Tahoe LS, is a daily driver which has cost me little other than gas, oil, tires, etc. It is well maintained and apart from a fuel pump and a window lift cable it has proven immensely reliable. Trade-in value of it would be about $6,000 today, a new one costing upwards of $50,000. Keeping mine until it dies makes more sense as I can buy a lot of repairs and the extra gas at a fraction of buying new.

The author also compares fuel economy over a 30 year span where it is quite a bit less drastic over the span of 10 years which is a little misleading. Obviously a man out to sell some cars.

As the largest costs of car ownership are depreciation and interest on the loan, buying a new car makes zero economic sense. You probably don't save enough on gas trading from a Sequoia or Tundra to justify buying a Prius or a Leaf.......