Here’s my situation. I’m a college student, that just recently got accepted into an MLT program. I’ll start this fall! Only thing is, I have to drive an hour to AND from school FOUR days a week. This wouldn’t be such a problem if my car wasnt old and terrible on the gas. I was only driving to/from school one day a week last semester and was spending $40 a week. I’m sure it’ll be MUCH more for the next year! This is where my situation is tricky. I don’t know if I’m better off getting a new (used) car, or keeping my current car.

Current car:

$70 insurance (not full coverage)

$85+/week in gas to drive to/from school/work

200k+ miles

15 years old

New car (estimated):

$150 insurance

$35/week in gas

$150 loan

30k-50k miles

2 years old

I just need something reliable, and good on gas because my car is neither of those things. But I want to be smart. If I do get a new (used) car, I’m keeping it for a pretty long time!