EPISODE 15 ~ TOP TIP: Car Payment: Save Thousands By Keeping Your Car As Long As You Can Stand It

You can save BIG money by keeping your car as long as you can stand it.  Most people turn their cars over every five years, according to auto website Edmunds.com. If we assume you get your first car when you’re 18 and stop driving at age 78, you would own about 12 vehicles during your lifetime. If you keep each vehicle just one year more, you’ll only need 10 vehicles. Keep it 10 years – twice as long as the national average – and you’ll only need 6 vehicles, which will cut your car-buying costs in half.  How much can you save?  Let’s be modest and say you keep your cars long enough that you’ll only need 8 in your lifetime.  And let’s say each car costs $20-thousand dollars.  You will spend just $160-thousand on cars over your lifetime, instead of the $240,000 you would spend if you owned the average of  12 cars.  That’s a savings of $80,000 …plus a lot fewer painful trips to the car lot to do battle with used car salesmen…