Modest Money Maps

Paid-off does not mean free, but replacing is rarely cheap

Keep vs. Replace Paid-Off Car

Compare annual cash costs, lender-required full coverage, loan payment, depreciation, fuel, registration, and the repair line that would have to get ugly before replacing wins.

This works.

Keeping the paid-off car saves about $8,281/yr on these inputs. Replacing only wins if old-car repairs climb past about $9,781/yr.

$8,281/yr

Cash basis only: no old-car depreciation, no financing on the keep side. This hinges on repairs and insurance mode; replace estimates with real quotes before using it as advice.

See every assumption - and change any of them.

The repair number is the trap door.

repair-trap reveal

Replacement loses until repairs cross the line.

Keep paid-off car $4,470/yr
Repairs$1,500.00
Fuel$2,120.00
Insurance$800.00
Registration$50.00
Replace with financed used car $12,751/yr
Loan$5,576.00
Depreciation$2,713.00
Repairs$400.00
Fuel$1,817.00
Insurance$1,800.00
Registration$445.00
Break-even repair threshold $9,781/yr

Caveat: one awful repair bill is not the same as this every year.

Gas, APR, used-car prices, and insurance change.

Gas, APR, used-car prices, and insurance change. Repair and insurance lines are user-specific and should be replaced with real quotes.

AAA Your Driving Costs replaces the unconfirmed Consumer Reports repair URL; the repair line stays estimate-tier until a real receipt replaces it.

Source Receipt Shelf

Strong means official or cited-dataset context. Light means estimate or assumption. Every annual figure carries a source chip.

Assumption Drawer

Every repair, fuel, insurance, registration, loan, and depreciation line is editable.