It's always nice to drive a late model car, but when you own one, you don't realize how fast it becomes an old car. That's bad, right? But there's that moment when you realize you don't have to make payments anymore. If you are the type of person who doesn't mind monthly payments in perpetuity, go ahead and lease, since you'll always be able to upgrade to a new car. But there are a hundred other factors that go into your calculations. Or you could just watch this video from The Hustle.
Or you could just do like I do, and drive an old car and never buy one unless you can purchase it outright without a loan. That's one way people get by on a lot less money than you think is possible. I'm luckier than most people, in that I haven't had to buy a car in twenty years because people keep giving them to me. If you're not picky, cars can be really inexpensive. But you do you. (via Digg)
1. Buy used car for cash
ReplyDelete2. Have a good mechanic
Buy a Subaru - your car for life.
ReplyDeleteMe ?
ReplyDeleteBought a 2002 Saab Aero in 2011 for $7000.
Over the years I have spent $2200 on repairs and $5000 on road tax, maintenance and tyres.
To date it has cost me around $23 a week to own ... plus petrol usage.
It is super comfortable and one of the safest cars (of its time).
As it is the top of the range Aero model and getting quite rare, if I sold it today I would get around $5000.
Your own results may vary.
The Aero is a Subaru. The 900 is an actual Saab.
ReplyDeleteMost of the actual cost is in insurance, maintainance, yearly taxes, fuel. Buying cheap isn't especially cheap in the long run.
ReplyDelete