Dear Editor,
With the average cost of a new vehicle creeping closer to $30,000, spending a fraction of that money on making your current vehicle last longer makes good financial sense. By simply budgeting the equivalent of just one new car payment, consumers could cover an entire year's worth of basic maintenance.
In the early 1970s you could buy a house for $30,000, and the average vehicle cost was $3,900, but they didn't last anywhere near as long as they do today. Now, the average age of passenger vehicles on the road is 10.6 years, the oldest ever. With proper routine maintenance, the typical vehicle should deliver at least 200,000 miles of safe, dependable, efficient and enjoyable performance.
Consumers spend an average of $706 a year on vehicle repair and maintenance, according to IMR, Inc. Compare that to a $30,000 price tag - it's a no-brainer. Hanging on to your current vehicle allows you to redirect all the money you would spend on a new car to pay off credit card debt, college loans and other bills or beef up savings or even take a road trip vacation.
To learn how to drive smart and save money, visit the Car Care Council's Web site at www.carcare.org .
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Rich White
Executive Director
Car Care Council
7101 Wisconsin Ave.
Bethesda, MD 20814
301-654-6664
