I currently have a car. I'm happy with it and it runs well (after finally getting an issue fixed this year). But it is coming up to 100,000 km. I've heard that after this point resale value goes down as soon as it hits that milestone. Additionally, the maintenance costs go up.
I've checked out the second hand value of my car. Around $14,000. I was debating trading in for another that has done 20,000-40,000 km, which I could do without tipping in too much for a hybrid or probably break even or come out ahead on another straight petrol car. Electrics are not feasible here as yet, but I'm hoping another 5 years will bring them in so they are cheaper.
My other option is to essentially run the car into the ground. But my fear is, that if I do that, not only do I have the increased maintenance to deal with, but also have to stump up quite a bit to get the "new" car as the old one would essentially be worthless.
I'm not trying to convince myself to buy a "newer" car. I'm not a car person. But am wondering what the best course of action would be.
Ta