Beat the Credit Crunch - Why not keep your current car for longer?
I spoke to Graham Skinner from Graham Skinner Motor Services in Melton Mowbray about keeping our cars for longer, instead of replacing them every 2 or 3 years. One of the single most reliable ways to save money on cars is to keep your current car for longer and possibly even drive it till it drops!
A decently cared-for vehicle should still be running long after the odometer has clocked 100,000 miles. Keep driving it and you save money. This is not only because you will not have to make expensive payments on a new car, but also because insurance premiums are lower.
Cars are not a good investment. The longer you keep them, the better off you will be financially. A car's value, after reducing considerably in its first two to three years, levels off about the time the odometer reaches 100,000 miles. After eight or nine years depreciation is virtually nil.
However, keeping your old car does not mean that you have to compromise on reliability. It is important that you use some of that money saved from not buying a new car, to invest in having your old car regularly serviced and kept in tip top condition.
If you want to keep your car for longer, why not get it serviced at Graham Skinner Motor Services? Click here for more details.
