Vehicle & Transportation Calculators
Keep Old Car vs. Buy New Calculator
Compare the cost of keeping your current car with replacing it, including repairs, loan payments, insurance, fuel, registration, depreciation, trade-in value, and repair risk.
A big repair bill can make a new car tempting, but replacing a car usually adds financing, taxes, insurance changes, depreciation, and higher upfront costs. This calculator compares keeping your current vehicle with buying a newer one using your assumptions.
Educational estimate only. This calculator is not financial, tax, legal, insurance, mechanical, vehicle-buying, or professional advice.
Compare keeping your current car with buying newer using editable assumptions. Repair risk is modeled as a planning cost, not a prediction.
Jump to resultsA few inputs are being adjusted for the estimate:
- Current insurance per month is above 120 and is capped for the estimate.
- New car insurance per month is above 120 and is capped for the estimate.
Comparison timeline
Optional. Enter a dollar value if fewer repairs, less downtime, or newer-car reliability is worth something to you.
Optional. Enter a dollar value if keeping flexibility and avoiding a new payment is worth something to you.
Current car details
Use current car value as the amount you could sell or trade it for today.
Use a value from 0 to 120. The estimate will cap this input while you edit.
Current car repair risk
Repair risk is modeled as an expected planning cost, not a prediction.
Replacement car details
Buying newer may reduce repairs, but financing, insurance, taxes, and depreciation can change the total cost.
Use a value from 0 to 120. The estimate will cap this input while you edit.
Scenario presets
Use a preset to move quickly, then edit the numbers. Presets replace assumptions rather than compounding them.
Frequently asked questions
Is it cheaper to keep an old car or buy a new one?+
It depends on repairs, reliability risk, loan payments, insurance, fuel, resale value, and how long you plan to compare the options.
When is a repair too expensive?+
There is no universal cutoff. Comparing the repair with the car's value, future repair risk, and replacement cost can make the tradeoff clearer.
How does repair risk affect the decision?+
Repair risk is modeled as an expected planning cost. A higher probability or higher repair amount makes the keep-current-car path more expensive.
How does trade-in equity affect buying newer?+
Positive trade-in equity can reduce the amount financed. Negative equity can increase the replacement loan amount.
Does this calculator include depreciation?+
Yes. It uses your entered resale values to estimate ending equity for both the current car and replacement car.
Does this calculator include insurance and fuel?+
Yes. It includes monthly insurance, annual miles, MPG, and gas price assumptions for both options.
What if my current car is paid off?+
Enter zero for the current loan balance, monthly payment, and months remaining. The keep-current-car path will exclude current loan payments.
Is this vehicle-buying or mechanical advice?+
No. This calculator is for educational estimates only and is not financial, mechanical, legal, insurance, tax, vehicle-buying, or professional advice.