We’ve all heard Dave Ramsey: keep your car until it dies, pay cash, avoid monthly bills. It sounds smart—no payments, no debt—but holding onto an old car indefinitely can bite you in unexpected ways. From unexpected repair costs to higher insurance rates and safety gaps, the risks add up fast. If your ride is more junk heap than dependable companion, you may want to rethink that advice. Here’s why driving that old car could be a bad financial and safety move.
