3 Reasons I Drive a 15-Year-Old Car — Even Though I Can Afford a New One

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Retaining an older car makes perception for us ideal now.

Essential details

• My 15-12 months-outdated Prius has some concerns and isn’t really the most snug automobile to push.
• Even though I can fork out for a new automobile, I’m keeping this old one all over for the time becoming.
• If you happen to be contemplating of replacing your auto, 1st take into account whether it really is paid off and in working problem, and whether the new automobile you want is available.

The Toyota Prius my spouse and I purchased back in our pre-parenting times was a wonderful notion at the time. My spouse experienced an 80-mile spherical trip commute to do the job again then, so it produced perception to order a car that was known to be fuel-economical. And though the Prius is far too little to comfortably in shape our family now that we have young children, back when it was just us, we relished benefits like becoming able to park in metropolitan areas with no tension.

These times, our Prius does not suit our wants as nicely, and it can be also not in the finest of condition. At 15 yrs previous, some of its sensors aren’t practical — for instance, we are continuously warned of minimal tire force, even when our tire strain is wonderful.

Our Prius also does this quirky point in which the trunk seals shut when the climate is warm. So if I want to get into the trunk amongst June and September…well, I are not able to.

In the meantime, my husband and I are, fortunately, in a powerful plenty of fiscal placement to obtain a vehicle to switch the Prius. Not only do we have income in our savings account for a down payment on a automobile, but we hold our expenditures reasonably small relative to our earnings. As these types of, there’s income in our funds to take on a vehicle payment — something we presently never have thanks to having two compensated-off autos.

But when we have been tempted to exchange the Prius on a lot more than one situation, appropriate now, we’re sticking with that 15-12 months-previous vehicle. Here’s why.

1. It truly is paid out off

My partner and I have lots of every month charges we are on the hook for. Though we can afford a monthly car personal loan payment, it really is wonderful to not have just one — especially at a time when residing prices are increased throughout the board owing to inflation. The way we see it, we possess the Prius outright and have for several years, so we may possibly as effectively drive it into the ground.

2. It is really drivable

As pointed out, our Prius plainly has some difficulties. But while some of its characteristics don’t get the job done all that properly, we do not have basic safety issues relevant to the vehicle. As these, we don’t have an issue driving it around town.

3. The motor vehicle we want to switch it with isn’t available

At some level, we know we’ll need to have to substitute the Prius — and that position may perhaps appear soon. It isn’t going to make fiscal perception to sink a good deal of revenue into a 15-12 months-previous car, so we determine that the upcoming time a significant repair situation occurs, we are going to in its place try to offer the car and use our proceeds to invest in a new a single.

For now, although, the car or truck we’re on the lookout to exchange our Prius with just isn’t accessible owing to inventory shortages. Not only that, but when my partner termed a dealership to try to get on a waiting checklist (just in situation the Prius goes sooner than predicted), the rate he was quoted for the motor vehicle was a excellent $10,000 previously mentioned its MSRP.

Ideal now, auto rates are by way of the roof due to source chain shortages. But considering the fact that the Prius nevertheless will work, it doesn’t make any perception for us to pay out a premium for a new vehicle.

Even while our Prius has served us properly about time, at some stage, and likely soon, we’ll require to let it go. But for now, preserving that car makes perception. A new car or truck is only heading to price us much more, and our car coverage premiums will probably rise with a new motor vehicle since its benefit will be a great deal increased than what the Prius is value. So we determine we might as well maintain the Prius close to while we can and enjoy some financial savings.