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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