Should I replace my used car now or wait?

Tara Baukus MelloQuestionDear 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?
-- Mona

AnswerDear Mona,
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.

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If you have a car question, e-mail it to us at Driving for Dollars. Read more Driving for Dollars columns and Bankrate auto stories.

Bankrate's content, including the guidance of its advice-and-expert columns and this website, is intended only to assist you with financial decisions. The content is broad in scope and does not consider your personal financial situation. Bankrate recommends that you seek the advice of advisers who are fully aware of your individual circumstances before making any final decisions or implementing any financial strategy. Please remember that your use of this website is governed by Bankrate's Terms of Use.

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