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re: Car Guys: Keep, Sell, or Trade
Posted on 10/21/13 at 12:24 pm to nhassl1
Posted on 10/21/13 at 12:24 pm to nhassl1
quote:
I have no real reason or desire to sell it other than making a good financial decision.
Drive it until wheels fall off. Trading up every 3 to 4 years drives your cost to operate up, up, up.
I recommend that you stop thinking of your note as a utility bill and start thinking of it as debt you have to repay, albeit with a fairly modest interest rate.
These new cars actually cost millions of dollars over time.
Drive free, retire rich
1
Posted on 10/21/13 at 1:15 pm to Ace Midnight
quote:
These new cars actually cost millions of dollars over time.
I've seen you post this a few times, and I'm not buying it. Assuming you buy your first new car out of college at age 22 and carry a $500 note the rest of your life (let's say 85), that's $378,000 per person. Do that for you and your wife, and it's still less than $800,000. Perks are you'll pay less maintenance due to lower mileage vehicles and likely have higher fuel mileage due to better tech. So where do you keep getting this "millions" from?
ETA: Counting investment possibilities I suppose. Kind of unfair to assume that your investment will always make you money though.
This post was edited on 10/21/13 at 1:43 pm
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