Buying a new car might sound good in theory, but these days, a new car purchase is out of reach for many Americans, according to a recent CNBC report. With the average cost of a new vehicle higher than ever at $30,500, spending a fraction of that money on making your current vehicle last longer makes good financial sense, says the Car Care Council.

“Hanging on to your current vehicle allows you to redirect money you would spend on a new car to pay off credit card debt, college loans and other bills, beef up savings or even take a road trip vacation,” said Rich White, executive director, Car Care Council. “By simply budgeting the equivalent of just one new car payment, consumers could cover an entire year’s worth of basic maintenance.”

Even if serious engine trouble strikes, keeping your current vehicle is the sensible economic decision. For the cost of an average down payment on a new car or truck, a vehicle can be repowered with a remanufactured/rebuilt engine and gain years of reliable service without monthly car payments and higher insurance rates.

“In the early 1970s, you could buy a house for $30,000, and the average vehicle cost $3,900 but didn’t last anywhere near as long as cars do today. Now, the average age of passenger vehicles is 10.8 years, the oldest ever,” said White. “With proper routine maintenance, the typical vehicle should deliver at least 200,000 miles of safe, dependable, efficient and enjoyable performance.”

The Car Care Council is the source of information for the “Be Car Care Aware” consumer education campaign promoting the benefits of regular vehicle care, maintenance and repair to consumers.

On March 8, 1950, the iconic Volkswagen Bus began production. Officially called the Volkswagen Type 2 — and the Microbus, Splitscreen, or Splittie by modern fans of the vehicle — it remained on the market in the US and in Europe until 1967.

The Type 2 was, as the name implies, the second car produced by Volkswagen, coming after production of the Volkswagen Type 1, which was the much more boring name for the Beetle. At first, the Bus was powered by the same engine as the Beetle — a 1100 Volkswagen, an air-cooled flat-four-cylinder “boxer” engine mounted in the rear. The engine was upgraded in 1953 to the bigger 1200.

Credit for the concept of the Type 2 is generally given to Dutch businessman Ben Pon. Pon had visited Germany intending to buy Type 1s. He instead had a realization that there could be a market for vans, which could easily be produced using the Type 1’s basic architecture. He sketched out a design for the Bus in 1947 and was able to get VW on board to start production by 1950.

After it had been on the market for some time, the Bus became especially popular in the United States during the counterculture movement of the 1960s, leading to another nickname for the T2: The “Hippie Van.” In present popular culture, in fact, the VW Bus is still often used to designate characters as of the Hippie Type (think Disney’s “Cars”).

Today, VW Buses are rare, especially in the United States, and are relished by collectors. Despite the lack of real world examples of the Type 2, it continues to live on in replications, concepts and in pop culture.