Thanks for reading and commenting Michelle. I’ve analyzed data from Edmunds.com that proves that (unless you’re handy with auto maintenance/repairs or know someone who is and will do it for you at no/little charge) it’s less expensive on average to buy a new car and drive it for 10 years than it is to buy at 1, 2, 3, 4, or 5 years old and drive it until it’s 10 years old.

Of course, this assumes you can afford the new car, and I know that not everyone can. If you can’t, this is yet another instance where being poor gets expensive.

In the situation I alluded to, I bought a 3-year-old Ford Taurus for $8k in 1992. I should have found a less expensive, more reliable car instead. Perhaps a slightly older Honda Civic or Fit. I just checked on Edmunds now, and a 2017 Civic or 2018 Fit can be purchased today for about half as much as a 2019 Ford Taurus.