Started Saving Up for a New Car

I think I shall have to do a bit of debt consolidation before I am going to be able to get a loan for a new car, but that is what I am getting prepared to do. I figure that I have about got to the point where it is not much use in keeping the car that I have. In fact it has close to two hundred and fifty thousand miles on it now. It has been a good car and I have kept it maintained about as well as you could manage. However there comes a time when it is no longer efficient to try to keep a car. There is always some point where stuff starts to break on it and fixing one thing after the other is not really a good option. In fact in this case the value of the car is probably less than what one really major repair job would run you.

The car is worth about two thousand dollars as a trade in right now and that is what it would probably cost to have something like a major engine problem or a transmission repaired. Of course just about any car that you want to buy new is going to cost you around thirty thousand. My plan is to get a car that is not quite new, one left over from the previous year’s model. That is how my Dad always did it. It makes a lot of sense when you think about it. The moment you drive a car off the dealer’s lot it is going to depreciate by about three thousand dollars. In this case that is what you are going to save basically by buying a car that is new, but which is not the current model year of that make.

 
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