Is your car feeling old, tired, and worn out? Maybe the paint has lost its luster. Or there’s a strange noise coming from somewhere. Or the radio’s kaput. Maybe all of the above. You probably loved it once, back when everything was fresh and new. But now, each time you slide behind the wheel, it’s a bit depressing.
If so, you’re probably thinking about swapping it for something newer. That seems like the logical thing to do. Newer cars are shiny and bright, and they have all of the latest features. But newer cars also come with a host of new expenses — among them, higher depreciation and costlier insurance.