200K Miles or more on a car can save $31K in the bank

According to a CNN Money article and Consumer Reports, if you drive your car (varies based on individual model, of course) for 15 years or 200K+ miles, you will save roughly $31K (between strict cost savings, inflation adjustments, interest earned on the saved money, etc…) over that period of time compared to purchasing a new car of the same type every five years.

Consumer Reports also came up with “good chance” and “bad chance” lists of cars that this would have the best opportunity to apply towards; happily the Toyota RAV4, my current car, made that list. It appeared that most of the top picks were between Honda and Toyota and the worst picks were American and European. Is anyone else not too shocked by this finding?

via [I Will Teach You To Be Rich blog]



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