Should I replace my used car now or wait?
Dear Driving for Dollars,
I have a 2000 model-year large sedan with 160,000 miles. It’s running well, but I’m concerned it won’t last. I’m thinking of buying another car, which I’d like to keep for at least 10 years, driving about 7,000 miles per year. Should I buy something now or wait?
Your car is getting up there in mileage, but you’d still be wisest financially to wait on buying another car. You’ll find some criteria to consider in the Bankrate story, “Repair your old car or buy a new car?“
While you have your current car, start putting aside some money for at least the down payment on a new car. It also would be smart to start looking for the kind of car you’ll want as a replacement, so you aren’t starting from scratch when you need to buy a new car.
Ask the adviser