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Emotions say "buy new." Math says "let's see." Compare the real monthly cost of keeping vs replacing.
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Complete cost breakdown with break-even analysis
A common guideline: if the repair costs more than 50% of the car's current value, and the car has other issues likely to need repair soon, it's usually time to replace.
But this calculator goes deeper. It compares the total monthly cost of ownership — including the car payment, higher insurance, and lower maintenance you'd get with a newer car. Sometimes a $3,000 repair is still cheaper than 5 years of car payments.
New cars depreciate roughly 20% in the first year and 15% per year after that. A $28,000 car is worth about $22,400 after year one. That's $5,600 in depreciation alone — money you'll never get back.
Higher insurance premiums, gap insurance requirements, and potentially higher registration fees all add to the true cost of replacing your car.