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Best time to change car?

I do about 7000 miles a year and am now retired.

When is the best time to replace my Landrover Freelander to achieve the best optimum financial outcome(i.e.running costs and buying costs combined)?

I would buy with cash (and buy either new or 1 year old) and I enjoy the benefit of warranty, or extended warranty. I presume it will depend on the residual value, but there must be a point at which a change of vehicle is most sensible. What would you advise?

Asked on 13 February 2012 by Jenksincornwall

Answered by Honest John
How long is a piece of string, so impossible to answer. Depreciation is highest for the first three years and repair and replacement costs lowest. For the next three years, depreciation falls, but repair and replacement costs rise. Depends how reliable the Freelander remains. If it's auto, you might be in trouble.
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