My car has over 112,000 miles on it, and my family keeps asking me when I'll get a new one.The financial benefits of driving a paid-off older car outweigh those of purchasing a new one.The car has served my family well, and I trust the vehicle to help keep us safe.When I bought my Volvo XC90 in 2017, I was thrilled to get a safe, third-row vehicle. With three kids between the ages of 3 and 8, the extra space meant fewer fights and more room, and reassured me that the car's safety features would help me drive through snowy roads and city traffic.Almost a decade later, that same Volvo has over 112,000 miles on it. I still remember when my family and I sat on the front porch, excited, as we watched the car get delivered from the truck.These days, my kids have been asking me when I'm going to get a new car, and my answer remains the same — I love my car and I'm going to keep driving it.The car is still reliable — and I trust itAside from regular maintenance and tire changes, the car has been reliable. Before the warranty expired, we purchased an extended warranty on the vehicle. Now that the extended warranty has expired due to mileage, I am still in awe at how reliable the car has remained.Years ago, we appreciated that the trunk could hold the double stroller, and that the built-in booster seat allowed us to drive car pools with small children. These days, we appreciate the third-row flexibility that allows us to fit our skis, snowboards, soccer gear, backpacks, and all the other essentials my kids need.I spend a lot of time in the car driving people around, and I am thankful for a car I can rely on.My mom used to say that the best car is one that reliably gets you from point A to point B. I still agree with this statement.I appreciate the small safety features that I now take for granted. From the computer technology to the warning lights on the mirrors and back-up cameras, the car has helped keep my family safe on numerous occasions and helped me avoid some near accidents.The car is part of our family. We have taken it on adventures to national parks, ski resorts in the Rockies, and even to an alligator farm. The vehicle has had its share of muddy shoes, candy wrappers, and dog hair. It also has dings from when I backed the car into the garage.The economics don't make sense for a new car right nowWhen my car is in the garage, the dealer provides me with a loaner car — a brand-new version of my current vehicle. I get tempted and think about how nice it would be to get a new car. The latest vehicles have more power, fewer scratches, are cleaner, and have that new-car smell.I've crunched the numbers. After years of car payments, my car is now paid off. Every month that goes by without a car payment means more money toward saving for the future. More money for food, utilities, saving for college, and the occasional splurge. Saving money now means more financial freedom for tomorrow.Buying a new car is expensive. Borrowing money for car payments these days costs more than it did in the past. Even yearly vehicle registration costs less for an older car.Part of me feels proud to keep driving my older carWe live in a world that tells us that newer is better, that we should want more. Although external validation of a new car is nice, I am focusing on the internal satisfaction that comes from knowing I am saving money by driving an older car.My car may not turn heads in the school pick-up line, but I view the scratches and door dings much like wrinkles- a sign of a good life.I will continue to drive my older car, and I am thankful for a safe and reliable vehicle that has served my family well.
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