Should I keep my Honda Civic or sell it to buy a newer car?
I have a 1996 Honda Civic with around 240,000 miles on it. It has no major problems other than minor rust and aesthetic issues. I bought the car at 200,000 miles and have kept up to date on oil changes and regular maintenance like that, however the owners before me did not. The car has mainly been used to commute so most of the miles are highway. My question is will my car last me through my next 3-4 years of college or would I be better off selling the car while I can and buy something that s less of a gamble in terms of reliability for the next couple years?
I would run it until it dies or until the repair costs exceed the cost of a new or newer car.
I would also start putting a "payment" into a savings account. Every month, put at least $250 bucks - more if you can - into a savings account for a down payment for a new or newer car. When your Honda dies, you may have enough to buy a new used car for cash.
Run it into the ground and save up for another vehicle.
Any car that old or with that many miles is a gamble. But not enough of a gamble that you can predict it and sell the car & save money by doing it.
I drive a 94 model buick. Had it for 9-10 years. Hope to have it for 3-5+ more, but who knows, if the motor or transmission goes out, I'm probably not going to repair it.
Start paying yourself a car payment now so in a few years you can pay cash for something.
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