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

Holding an older motor vehicle will make perception for us right now.

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Crucial details

• My 15-yr-old Prius has some challenges and isn’t really the most at ease automobile to push.
• Even although I can pay back for a new automobile, I’m trying to keep this previous one all over for the time remaining.
• If you might be imagining of changing your motor vehicle, very first take into account irrespective of whether it is paid out off and in operating ailment, and no matter if the new vehicle you want is obtainable.

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The Toyota Prius my spouse and I acquired again in our pre-parenting days was a fantastic concept at the time. My husband had an 80-mile round vacation commute to work back then, so it built perception to buy a motor vehicle that was known to be gas-successful. And even though the Prius is also compact to comfortably in good shape our loved ones now that we have young children, back when it was just us, we loved perks like currently being capable to park in towns without having worry.

These days, our Prius won’t accommodate our requires as properly, and it can be also not in the most effective of shape. At 15 a long time old, some of its sensors aren’t functional — for example, we’re consistently warned of very low tire strain, even when our tire stress is wonderful.

Our Prius also does this quirky factor where the trunk seals shut when the climate is sizzling. So if I want to get into the trunk among June and September…well, I cannot.

In the meantime, my husband and I are, luckily, in a powerful more than enough financial placement to buy a automobile to change the Prius. Not only do we have revenue in our financial savings account for a down payment on a vehicle, but we hold our expenditures relatively lower relative to our earnings. As these kinds of, you will find income in our budget to get on a automobile payment — anything we at the moment never have thanks to getting two paid out-off cars.

But although we’ve been tempted to exchange the Prius on more than 1 occasion, appropriate now, we’re sticking with that 15-yr-aged vehicle. Here is why.

1. It’s paid out off

My partner and I have a lot of regular bills we’re on the hook for. When we can afford a regular monthly automobile loan payment, it is good to not have a single — primarily at a time when dwelling charges are greater throughout the board thanks to inflation. The way we see it, we individual the Prius outright and have for a lot of many years, so we could as perfectly travel it into the ground.

2. It’s drivable

As outlined, our Prius obviously has some problems. But even though some of its functions don’t operate all that very well, we do not have protection problems linked to the automobile. As these kinds of, we will not have an concern driving it close to city.

3. The auto we want to switch it with is just not available

At some level, we know we are going to need to substitute the Prius — and that point may well occur shortly. It doesn’t make monetary perception to sink a great deal of funds into a 15-year-outdated car, so we determine that the subsequent time a major maintenance challenge occurs, we will in its place attempt to sell the auto and use our proceeds to invest in a new one particular.

For now, though, the vehicle we are hunting to substitute our Prius with just isn’t offered due to inventory shortages. Not only that, but when my husband known as a dealership to test to get on a ready list (just in circumstance the Prius goes quicker than expected), the price tag he was quoted for the automobile was a superior $10,000 above its MSRP.

Appropriate now, car or truck prices are through the roof thanks to source chain shortages. But considering the fact that the Prius nevertheless works, it does not make any sense for us to fork out a top quality for a new automobile.

Even even though our Prius has served us very well more than time, at some point, and likely before long, we will need to have to allow it go. But for now, trying to keep that auto will make feeling. A new motor vehicle is only likely to price tag us far more, and our automobile insurance policies premiums will likely increase with a new car for the reason that its worth will be substantially bigger than what the Prius is well worth. So we figure we could possibly as well continue to keep the Prius about while we can and experience some cost savings.