Keeping Your Car Can Save You Money

Saturday, March 1, 2008

Keeping Your Car Can Save You Money (NAPSA)—Theright answer to the question “Should you keep the car or trade it in for a brand-new vehicle?” could help put many motorists on the road to economy. So when you choose to keep your car rather than buy a new one, you'll end up saving money. “People who keep their cars, treat them as valuable investments and commit to regular vehicle maintenance end up saving a lot of money,” said Rich White, executive director, Car Care Council. The most common maintenance procedures and repairs to keep your car operating safely andreli- ably while maintaining its longterm value involve checking the oil, filters and fluids, the belts and hoses, brakes, tires and air-condi- taxes, insurance, maintenance and tires, were $16,548. A resale value of $3,759 puts the total fouryear cost at $12,789. New Car Costs On the new car, expenses including the car payment, interest on the car loan, fuel, license, registration, taxes, insurance, main- tenance andtires totaled $32,258. A resale value of $8,575 puts the total four-year expenseof the new car at $23,683. A cost comparison showsthat hanging on to your old car can save you money. Q_ “We advise our clients that if they want to see an increase on their investments every year, they tioning. The council also recommends an annual tune-up and wheel alignment. Over a four-year period, the difference in savings between keeping a car and buying a new need to cut down on their expenses,” said Terry Mulcahy, vice president of investments for R.W. Baird in Mequon, Wis. “A new automobile is for most people their second-biggest investment Cost Of Keeping The Old One The cost comparison identified the expenses of keeping a 2003 six-cylinder, four-door sedan that assets is to hang on to their current vehicle rather than buy a new one every few years.” The Car Care Council is the source of information for the “” consumer education campaign promoting the benefits of regular vehicle care, one is $10,894, according to RunzheimerInternational. gets 21 miles per gallon (mpg) and costs $19,727, versus buying a new six-cylinder, four-door sedan with 23.5 mpg that costs $23,451 and had a down payment of $10,158, the trade-in valueof the older car. At the end of four years, expenses on the used vehicle, including fuel, license, registration, next to a home, so a great way to save money andincrease financial maintenance and repair to con- sumers. For a copy of the council’s consumer-friendly “Car Care Guide” or for more information, visit www.carcare.org.

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