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April 28, 2023

Your Vehicle Has Served You Well for Many Years (2023)

But as the New Year approaches, you're thinking of finally achieving your goal to buy a new vehicle.
One of your most important decisions is which year of vehicle to purchase, especially if you’re leaning towards a used car instead of a new one. If you don't get a new car, how old of a car should you buy? Here are some benefits and drawbacks of buying a car from different time periods.

You may be able to find a reliable car from the 1990s, but buying a car from this time period has some risks.
The car may be nearing the end of its life cycle, so you may end up with the same problems you incurred with your old vehicle. Depending on its mileage and how it's been treated over the years are critical to determining how it will last into the future.  If you find a car that's been driven hundreds of thousands of miles with little maintenance, you may end up spending as much on repairs as the vehicles cost. 
Plus, keep in mind that it can be difficult to find replacement parts for cars from the 1990s. These cars' repairs are most likely no longer covered by a warranty either.
Also, a 1990s car might not have all the safety features you're looking for. After all, side airbags and anti-lock brakes didn't become common until the late 1990s. Dual airbags weren't federally mandated until 1998.
In conclusion, if you are purchasing a car from the 1990's you are taking some risks that are inherent to vehicles of that age. There are many cars out there that have had exceptional care, and have reasonable miles. Find one of these!  It is best to test drive the car and listen for suspicious noises, abnormal tire wear, and weak suspensions.  These are signals that you may have to invest in future repairs.

If you plan to buy a car from the 2000s, make sure it has been cared for over the years. It is a good idea to look online to learn about known problems for certain models.  Regular maintenance is probably the most important indicator of the car's longevity—perhaps even more important than age or mileage. Thus, make sure you get an inspection on the car before you buy it. Especially important in the northern states is to inspect the bottom side of the car for rust.  Safety items such as brake lines run underneath the car and are susceptible to failure from exposure to salt found on roadways.
There are plenty of cars from the 2000s that are still in great shape. You just need to do your homework to make sure you're getting a solid deal.

2013 to 2016
Many people consider this the "sweet spot" of car buying. Various auto experts recommend that you buy a car that's two or three years old. Many believe that this range of used cars, two- and three-year-old cars are the most reliable.
Cars lose most of their value during their first three years on the road. That means that a two- or three-year-old car provides the best return per dollar spent. Thus, you can afford a better make and model that offers more features than you would if you bought a new car. A consideration many car buyers overlook is that used cars are less expensive to insure.

The major benefit to buying a new car is that it should last for many years. You will be in control of the maintenance history from day one, therefore will have a huge impact on the car's life span.  Car experts say that today's cars can easily drive 100,000 miles without major problems. Another benefit of new cars is that you can choose the latest features, such as heated and ventilated seats, panoramic sunroofs, and voice activation.
You'll likely pay much more for a new car than you would for a car that's just a year or two old. Along with the cost of your car payments, don't forget about taxes and fees, registration, and gas and maintenance costs.  So, if you are looking for a new vehicle, consider making your purchase when new models are arriving at the dealerships.  Year-end closeout pricing, coupled with low financing and warranty can make a new vehicle the right choice for you.

In summary, your budget will determine your personal preferences. If you are opting for a good used car, make sure you get it inspected before you buy.
If you wish to avoid the hassle of trading or selling your old vehicle, consider donating it to Newgate School where it can be refurbished and put back on the road.