Calculate how soon to buy your next car
Hold on to your car longer, or sell and buy a new one? This tool helps you decide.
It may be difficult to determine whether it's financially better to hold on to your current vehicle or purchase a new one. But we have a vehicle depreciation calculator that can help with that decision.
Typically, you will find that it's better to keep a vehicle a little longer since cars can depreciate quickly within the first few years of ownership. Along with depreciation, you're typically paying more loan interest in the first few years of ownership as well. Sales tax and licensing fees are another consideration with new cars. All that adds up each time a different vehicle is purchased.
Should I keep or trade my car?
All fields are required. If something doesn't apply, place a 0 in the field.
First car
Results
Keep your vehicle
The total cost of purchasing an auto and keeping it for 0 months would be $0.
Purchase a different vehicle
The total cost of purchasing an auto and keeping it for 0 months, then using the value as a down-payment to purchase a new car and keep it for 0 months would be approximately $0.
You could save approximately $0 by keeping the auto longer.
Assumptions:
The first year's depreciation is 20% on the new car and 10% on the used car. Subsequent years were figured at 10% for both new and used.
The first year's depreciation is 20% on the new car and 10% on the used car. Subsequent years were figured at 10% for both new and used.
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