| Something else to think about:
My wife and I bought our last new car in 1971. We made our last car payment in 1972. We buy 3-4 year old high-end Japanese cars and drive them until they start giving us trouble. At that point, they're still worth good money (we keep them in good shape - clean, waxed, Armorall).
I figure we've saved somewhere between $170,000 and $200,000 by doing this.
We never have the hottest ride on the block, but we always have good-looking, dependable cars. And it's fun to be able to write a check for $18,000 and watch the car salesman turn colors. |