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re: Driving old, crappy vehicles is the way to go
Posted on 4/11/18 at 8:50 pm to spslayto
Posted on 4/11/18 at 8:50 pm to spslayto
I bought a used 98 MBenz 20 k miles in 2000. Paid it off in 4 years and it lasted until nov 2017. That’s 13 years without a car payment. Bought a new car and will baby it and it’ll last 20 years. That’ll be saving 26 years of approx 400 per month. Figure that out - HUGE savings
Posted on 4/11/18 at 8:56 pm to celltech1981
I bought a 2002 camry from a friend that moved to a different country.1200 bucks and in decent condition. 48$ insurance monthly and no note. I'll get 2 years out of that hog.
Posted on 4/11/18 at 9:05 pm to celltech1981
2000 chevy malibu that I got for free
Posted on 4/11/18 at 9:06 pm to Jake88
quote:
Wealthy or not, this is financially a poor decision.
Take the money you waste on vehicles and invest it instead.
I get a kick out of people who say this and then spend thousands of dollars each year for their kids with poor genetics to play "travel ball."
Posted on 4/11/18 at 9:06 pm to celltech1981
(no message)
This post was edited on 11/5/20 at 7:14 pm
Posted on 4/11/18 at 9:43 pm to Picayuner
quote:
I bought a used 98 MBenz 20 k miles in 2000. Paid it off in 4 years and it lasted until nov 2017. That’s 13 years without a car payment. Bought a new car and will baby it and it’ll last 20 years. That’ll be saving 26 years of approx 400 per month. Figure that out - HUGE savings
Don't overlook the value of that money invested over 26 years.
$400.00 per month invested at 7% annually for 26 years =
$331,000.00
Average annual return for the DOW has actually been higher than 7% for thelast 26 years.
Posted on 4/11/18 at 10:17 pm to celltech1981
I inherited my grandfather's car when he passed away 2 years ago. 1999 Toyota Camry with 78k miles on it I kept it at my grandparents house until the house sold then took it home and started driving it daily. I figure I can get 7-8 years out of it at least. Pay my wife's '14 Mazda this year. It only has 40k miles on it. I normally get her a new car when her car hit 100k when I take it over and drive it until the wheels fall off. Don't really care what people think of my old man beige Camry. I take my pleasure in our lake house on the weekends instead of in a depreciating asset I drive around in during the week.
Posted on 4/11/18 at 10:20 pm to celltech1981
I'm with you, I bought a $500 car off of here one time and that thing is still going around (not me, sold it for double that) 199 Jetta
I put a few hundred miles a week on a Ford E150 with 276,000 miles now.
My Tacoma has 194,000 miles.
My wife's "new" Expedition has 75k.
I'm not a fan of notes. I would rather buy something still nice. Plus I can fix mechanical issues, so olnly a bad tranny scares me.
I put a few hundred miles a week on a Ford E150 with 276,000 miles now.
My Tacoma has 194,000 miles.
My wife's "new" Expedition has 75k.
I'm not a fan of notes. I would rather buy something still nice. Plus I can fix mechanical issues, so olnly a bad tranny scares me.
Posted on 4/11/18 at 10:23 pm to Napoleon
(no message)
This post was edited on 11/16/21 at 1:30 pm
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