Comments on: Reader Story: Two Approaches to Car-Buying http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/ personal finance that makes cents Mon, 08 Sep 2008 08:03:24 +0000 http://wordpress.org/?v=2.5.1 By: How to Drive a Great End-of-Summer New Car Deal ? Get Rich Slowly http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-96699 How to Drive a Great End-of-Summer New Car Deal ? Get Rich Slowly Fri, 31 Aug 2007 18:17:13 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-96699 [...] Two approaches to car-buying [...] [...] Two approaches to car-buying [...]

]]> By: April http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-80870 April Fri, 09 Mar 2007 20:00:22 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-80870 Awesome! We too are saving for our next car and are driving our 98 Honda CRV with 125,000 miles until we have enough cash. It's so good to hear other people are doing the same thing. Anyone heard of Dave Ramsey? I listen to his radio show, he teaches people how to live without credit. He says if you live like noone else, (live below your means, etc.) later you can live like noone else) in this case drive like noone else(paid for cars).....wwwdaveramsey.com. Delayed gratification is character building and distinguishes the adults from the children. Awesome! We too are saving for our next car and are driving our 98 Honda CRV with 125,000 miles until we have enough cash. It’s so good to hear other people are doing the same thing. Anyone heard of Dave Ramsey? I listen to his radio show, he teaches people how to live without credit. He says if you live like noone else, (live below your means, etc.) later you can live like noone else) in this case drive like noone else(paid for cars)…..wwwdaveramsey.com. Delayed gratification is character building and distinguishes the adults from the children.

]]> By: Consumer Reports Auto Issue Round-Up: Top Picks for 2007 ? Get Rich Slowly http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-80539 Consumer Reports Auto Issue Round-Up: Top Picks for 2007 ? Get Rich Slowly Mon, 05 Mar 2007 15:46:32 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-80539 [...] Two approaches to car-buying [...] [...] Two approaches to car-buying [...]

]]> By: ByOwnerAutoSales.com http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-22755 ByOwnerAutoSales.com Wed, 29 Nov 2006 15:00:15 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-22755 Good advice! I also recommend reading the most recent Consumer Reports automobile issue. It has a fabulous rating system for almost all makes and models going several years back. Also, read our <a href="http://byownerautosales.com/modules.php?mod=Extra_Pages&pg=news_links" rel="nofollow">car dealer scam news feed</a> to see how car salesmen are swindling customers. Good advice! I also recommend reading the most recent Consumer Reports automobile issue. It has a fabulous rating system for almost all makes and models going several years back. Also, read our car dealer scam news feed to see how car salesmen are swindling customers.

]]> By: Vince http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-19191 Vince Tue, 21 Nov 2006 05:58:59 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-19191 Ok, so I'm a pretty big car fanatic (check my website if you don't believe me) and I am the type who thinks $150,000 for a Ferrari is "reasonable". I'm only 27 years old and have bought 4 cars in my life, and I took comment #1's advice and paid cash for them all. In fact, I dog walked starting at age twelve and bought my first car at 14, long before I could even drive it. (It was a mint condition 1966 Mustang.) I have to agree, paying cash for a car is the only way to go. You get it, its yours its paid for and you don't have to worry. Another thing...always negotiate, always. And don't buy new. You can find used low mileage cars still under warranty for thousands, even tens of thousands off what they cost new. On average, a new car depreciates 12% the day you drive it home. So take your time, look for a used one in good condition, garaged, low miles and you won't be disappointed. Sure you don't get to pick all the options, but be patient and you'll get pretty close to what you want. I now drive an Audi A4 that is in excellent condition. It's getting older (1997 model) but I only paid $10,000 for it and it looks great and runs perfectly. Everyone always gets in my car, knowing a brand new A4 is a $30k+ car these days, and thinks its a much more expensive car than it is. Cars do not hold their value...so buy a used one! With that in mind, also do not consider a car an "asset". Ok, so I’m a pretty big car fanatic (check my website if you don’t believe me) and I am the type who thinks $150,000 for a Ferrari is “reasonable”. I’m only 27 years old and have bought 4 cars in my life, and I took comment #1’s advice and paid cash for them all. In fact, I dog walked starting at age twelve and bought my first car at 14, long before I could even drive it. (It was a mint condition 1966 Mustang.)

I have to agree, paying cash for a car is the only way to go. You get it, its yours its paid for and you don’t have to worry.

Another thing…always negotiate, always. And don’t buy new. You can find used low mileage cars still under warranty for thousands, even tens of thousands off what they cost new. On average, a new car depreciates 12% the day you drive it home. So take your time, look for a used one in good condition, garaged, low miles and you won’t be disappointed. Sure you don’t get to pick all the options, but be patient and you’ll get pretty close to what you want. I now drive an Audi A4 that is in excellent condition. It’s getting older (1997 model) but I only paid $10,000 for it and it looks great and runs perfectly. Everyone always gets in my car, knowing a brand new A4 is a $30k+ car these days, and thinks its a much more expensive car than it is. Cars do not hold their value…so buy a used one! With that in mind, also do not consider a car an “asset”.

]]> By: Jack http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16868 Jack Wed, 15 Nov 2006 21:41:15 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16868 Thank you for sharing your experience! Basically I am in the same situation as you were. I just finished my degree and got a software developer job. Knowning that I am earning a pretty good wage, I am looking to buy/lease a new car. :) Thanks for the advice! This really helps me in making my car-buying decision. Thank you for sharing your experience!

Basically I am in the same situation as you were. I just finished my degree and got a software developer job. Knowning that I am earning a pretty good wage, I am looking to buy/lease a new car. :)

Thanks for the advice! This really helps me in making my car-buying decision.

]]> By: pussfeller http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16720 pussfeller Wed, 15 Nov 2006 14:09:23 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16720 WEll, you certainly have made some good choices and are on the right track. I would like to point out, however, you are paying alot more money this time, and for a car that is far less long-term mechanically reliable than the Honda you paid too much for :) I don't think any car is worth 24K.... not to me anyways. 5K + a 200 detail job can buy you a LOT of car. WEll, you certainly have made some good choices and are on the right track.

I would like to point out, however, you are paying alot more money this time, and for a car that is far less long-term mechanically reliable than the Honda you paid too much for :)

I don’t think any car is worth 24K…. not to me anyways.

5K + a 200 detail job can buy you a LOT of car.

]]> By: Peter http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16686 Peter Wed, 15 Nov 2006 12:29:48 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16686 "I rushed the first transaction, but was patient for the second." This is the key. If you _have_ to buy a car, or rush into it, you will get screwed. If you can comfortably drive home in the car you came in, you can just wait until they give you what you want. “I rushed the first transaction, but was patient for the second.”

This is the key. If you _have_ to buy a car, or rush into it, you will get screwed.
If you can comfortably drive home in the car you came in, you can just wait until they give you what you want.

]]> By: shawnpetriw http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16558 shawnpetriw Wed, 15 Nov 2006 00:49:41 +0000 http://www.getrichslowly.org/blog/2006/11/14/reader-story-two-approaches-to-car-buying/#comment-16558 My rule for purchasing a car: Buy any car you like, as long as you buy it with cash. My rule for purchasing a car:

Buy any car you like, as long as you buy it with cash.

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