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I never understood this kind of math. If you could buy a new car for $6-8K then maybe. Your driving an almost $30k car that will require an average of $1k per year in repairs to keep maintained. For $2-3k your back on the road for another 30-40k miles. Or, you could go buy a new car for $30k and be back on the road for another 30-40k miles, and still plan on averaging $1k per year in maintenance.
The longer you can keep your car the cheaper it will cost per year. Just keep dividing the years by the cost plus maintenance. Your 97 cost say 30k plus 6 years maintenance of 6k, equal to 36k divided by 6 years. That is 6K per year of 500 per month so far. Keep it for 20 years, 30K plus 20k, equal to 50k, divided by 20 years, equals 2500 per year of 208 per month.
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