How long should I keep a vehicle?

This calculator calculates the cheaper option: buying a vehicle and owning it for a long period, or selling and buying a new vehicle more often.

Vehicle depreciation expense will affect its book value. If you owe more on a vehicle than you receive in sale proceeds or trade-in value, you must add that additional amount to the down payment on the new vehicle.

For an owner that buys more than one vehicle in the period, we assume that vehicle sale price, down payment, depreciation rate, and loan terms are the same for each new vehicle.

Interest earned from investing the difference in monthly payments is included in the analysis.

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Credit card ratings: Editors from rate credit cards objectively based on the features the credit card offers consumers, the fees and interest rates, and how a credit card compares with other cards in its category. Ratings vary by category, and the same card may receive a certain number of stars in one category and a higher or lower number in another.

The ratings are the expert opinion of the editors from, and not influenced by any remuneration their website may receive from card issuers.

myFICO is the consumer division of FICO. Since its introduction over 25 years ago, FICO® Scores have become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use FICO Scores to make consumer credit decisions.

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