My car is at around 115k miles. I replaced the transmission at around 97k miles (thankfully under warranty). The transmission is starting to act odd again like it did before (it did it for a while before it totally crapped out). The alignment is constantly off despite best efforts to realign/balance. It isn't the most efficient or safest thing
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In the mean time you are used to making the payment already and you may save a substantial chunk of the new car's price allowing you to save money by taking a shorter loan term (or maybe even pay for it outright).
It is almost always more cost effective to continue driving a car you own outright (even factoring in worse gas mileage and some repairs) than to buy a new car.
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Watching some of the European car shows they have (non-hybrid!) four door hatchbacks creeping into the 60-70 mpg range, so I'm curious if some of that tech will trickle down to the "gas guzzling" Americans.
And I second lsl -- start saving now, it'll make the purchase a whole lot less painful.
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