In general, maintaining an old car is almost always cheaper than buying a new one. New cars depreciate quickly, and prices average more than $40,000—before tax, fees, and licensing.
Most experts agree that the 50% rule should keep you on track. This states that you should always do maintenance on your vehicle if it costs 50% or less than the resale value of the vehicle. If it’s more than that, you may want to look at buying a new car or a used car.
Jerry is an insurance broker app that will help you compare quotes from up to 50 providers in a matter of minutes. Once you choose a policy that works for you, Jerry will take care of all of the paperwork. The best part? Most Jerry users save $879 per year on car insurance!