Determining Whether to Buy a New Car or Maintain an Old One

The decision between buying a new car or maintaining an old one boils down to evaluating the costs and benefits. Factors to consider include the value of the car, repair costs, and the car's longevity. It's essential to assess the risk involved in maintaining an old car with high mileage, especially when facing expensive repairs. Ensuring the reliability and trustworthiness of the vehicle is crucial before deciding to keep it. Additionally, having a clear financial plan in place, such as the financial order of operations, can guide whether to use available funds to buy a new car or address other financial priorities.