re: Car Guys: Keep, Sell, or Trade

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Where does that kick in? 100k, 200k? I never said don't buy a new car when you need to - just don't borrow money to do it.

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I dunno, whenever stuff breaks. A lot of brands offer no cost maintenance for the first few years, so that's a direct savings compared to keeping the older vehicle. Plus getting a new car every 5 years should keep you from having to do any major repairs out of pocket due to both warranty and low miles.

New cars get much better MPGs than older cars, so that can save you a lot depending on how much you drive.

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At a certain point, the money you saved by not borrowing money will yield enough to pay a new (or, at least, new to you) car - rather than you having to borrow money. This is a savings model, not a spending model.

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At a certain point, the money you saved by not borrowing money will yield enough to pay a new (or, at least, new to you) car - rather than you having to borrow money. This is a savings model, not a spending model.

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How long? If you have to do one major repair each year, after factoring in rental car, repair costs, etc as any other savings the newer car provides you, it may take a very long time to get there. And if you can get 0% money or close to it, it makes the decision not anywhere near as black and white as Dave Ramsey tries to paint it. None of this even takes into consideration that maybe some people get enjoyment out of having a nice vehicle, and may still be saving plenty for the future.

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Less than $5 million over a person's lifetime.

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This makes no sense. Bottom line is, you're not really spending "millions" by having a new car every few years, unless you don't look at the whole picture.