Hi all, wondering what your thoughts are on what a good general strategy usually is in order to maintain the cost of transportation. (I know there are tons of possible individual factors depending on circumstances, but generally...).
I've always bought used cars (typically around 4-5 year old low-mileage
vehicles), and run them into the ground (until it needs some major
repair(s). Obviously this cuts down the trade-in value however, which
seems like a bit of dilemma. The reason I originally picked a used
Accord is the maintenance record.
I know some people claim leasing is more economical; it seems most
people buy new and trade in often such that their vehicle is never more
than a few years old, etc.
I haven't had a car payment in several years however, and that seems to
have made a huge difference in my financial situation.
Anyway, are there any general long-term rules of thumb?
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- posted 8 years ago