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re: An OT topic reminded me of something Dave Ramsey is flat out wrong about
Posted on 6/9/15 at 10:32 am to Huey Lewis
Posted on 6/9/15 at 10:32 am to Huey Lewis
The principle is sound though.
$3,200 got me a 97 Camry with 117,000 miles on it rom craigslist for my teenagers. Runs great and has cold AC. As soon as I got it home I took it to the dealer and had a new water pump and timing belt put on it for $800.
5 years later my teen daughter drove it for her 16-19 years and now my teenage son has driven it for his 16-18 years.
And all that time it's getting 30+ mpg and I'm just carrying minimum liability on it.
I will sell it next year for $3,200....
$3,200 got me a 97 Camry with 117,000 miles on it rom craigslist for my teenagers. Runs great and has cold AC. As soon as I got it home I took it to the dealer and had a new water pump and timing belt put on it for $800.
5 years later my teen daughter drove it for her 16-19 years and now my teenage son has driven it for his 16-18 years.
And all that time it's getting 30+ mpg and I'm just carrying minimum liability on it.
I will sell it next year for $3,200....
1
Posted on 6/9/15 at 10:38 am to Old Sarge
I just sold two Volvos with plenty of life left in them; trade value was absolutely stupid. Both were 12+ years old, very very well maintained, with ~150K miles each. Sold one for $2,500 and the other for $3K. Could have driven them for another 50K miles, but 0% financing on a brand new car with far better gas mileage is money in my pocket.
There are certainly good deals left in the used market. Too many people worry about potential repair costs that may never materialize....
There are certainly good deals left in the used market. Too many people worry about potential repair costs that may never materialize....
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