PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
Is it cheaper to buy a new car or maintain an old car?
I was thinking of purchasing a new car, but my old car still runs decently well. Essentially, it comes down to money. Is it cheaper to buy a new car or maintain an old one?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
In general, maintaining an old car is almost always cheaper than buying a new one. New cars depreciate quickly, and prices average more than $40,000—before tax, fees, and licensing.
Most experts agree that the 50% rule should keep you on track. This states that you should always do maintenance on your vehicle if it costs 50% or less than the resale value of the vehicle. If it’s more than that, you may want to look at buying a new car or a used car.
Jerry is an insurance broker app that will help you compare quotes from up to 50 providers in a matter of minutes. Once you choose a policy that works for you, Jerry will take care of all of the paperwork. The best part? Most Jerry users save $879 per year on car insurance!
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
.webp&w=384&q=75)
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
