Comments on: How to Drive a Great End-of-Summer New Car Deal http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/ personal finance that makes cents Fri, 16 May 2008 10:03:38 +0000 http://wordpress.org/?v=2.5.1 By: The Roundup - A New Month, A New Budget Edition : A Penny Closer http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96753 The Roundup - A New Month, A New Budget Edition : A Penny Closer Sun, 02 Sep 2007 01:58:34 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96753 [...] How to Drive a Great End-of-Summer New Car Deal @ Get Rich Slowly - If you are considering buying a new car, check out this post by J.D.  This weekend might be the time. [...] [...] How to Drive a Great End-of-Summer New Car Deal @ Get Rich Slowly - If you are considering buying a new car, check out this post by J.D.  This weekend might be the time. [...]

]]> By: Mission 225K http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96736 Mission 225K Sat, 01 Sep 2007 12:14:32 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96736 [...] H/T: Get Rich Slowly [...] [...] H/T: Get Rich Slowly [...]

]]> By: james http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96734 james Sat, 01 Sep 2007 09:23:46 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96734 i paid $11,000 for my used 1993 Explorer Ltd. 8 years ago when it had 90,000 miles onit, and I've put 100,000 miles on it since then... it's appraised for about $3,000, but is probably worth less since the shocks need to be replaced, and the breaks squeak even though they're new... it's a bumpy ride compared to when I bought it almost a decade ago, but it's paid for and still safe... i'd love a new car, but i love this one being paid for evn more. I'll drive until it's scrap metal, then donate it and start over on a bike for a while... i paid $11,000 for my used 1993 Explorer Ltd. 8 years ago when it had 90,000 miles onit, and I’ve put 100,000 miles on it since then… it’s appraised for about $3,000, but is probably worth less since the shocks need to be replaced, and the breaks squeak even though they’re new… it’s a bumpy ride compared to when I bought it almost a decade ago, but it’s paid for and still safe… i’d love a new car, but i love this one being paid for evn more. I’ll drive until it’s scrap metal, then donate it and start over on a bike for a while…

]]> By: joshuat http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96720 joshuat Fri, 31 Aug 2007 23:31:35 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96720 Ugh. New cars are money pits, even more than used cars. Between loans or leases, extended warranties (which cost more than the typical coverage they provide) and depreciation, buying new, even "last year's" model, is an enormous waste of money. I've paid *stupid tax* on cars. I've bought a slightly used car (5k miles, repo'd), a brand new car (4 miles) and a brand new (7 miles) motorcycle. I'll never buy a new car again. The cost is just enormous. The slightly used car I paid $14,000 for. I got about $3000 when I traded it in 5 years later. It had some bumper damage and a couple maintenance issues, which took about $2000 off the bluebook trade-in price. The brand new car I paid $18,000 for, with the above trade-in. I'll be lucky to get $9500 for it, and its only been 3.5 years since I bought it! The motorcycle I paid $8000 for and got $4500 (bluebook dealer retail at the time) when it was totaled by insurance after I laid it down. All told, I've thrown away $23,000 primarily in depreciation!! That's the price of another car!! I think it is vital to mention that this was all done between December 1999 and now. Never again will I purchase a brand new, or even slightly used vehicle again. Sure, cars are huge money pits anyway, but no sense making it worse than it has to be. Ugh. New cars are money pits, even more than used cars. Between loans or leases, extended warranties (which cost more than the typical coverage they provide) and depreciation, buying new, even “last year’s” model, is an enormous waste of money.

I’ve paid *stupid tax* on cars. I’ve bought a slightly used car (5k miles, repo’d), a brand new car (4 miles) and a brand new (7 miles) motorcycle. I’ll never buy a new car again. The cost is just enormous.

The slightly used car I paid $14,000 for. I got about $3000 when I traded it in 5 years later. It had some bumper damage and a couple maintenance issues, which took about $2000 off the bluebook trade-in price.

The brand new car I paid $18,000 for, with the above trade-in. I’ll be lucky to get $9500 for it, and its only been 3.5 years since I bought it!

The motorcycle I paid $8000 for and got $4500 (bluebook dealer retail at the time) when it was totaled by insurance after I laid it down.

All told, I’ve thrown away $23,000 primarily in depreciation!! That’s the price of another car!!

I think it is vital to mention that this was all done between December 1999 and now. Never again will I purchase a brand new, or even slightly used vehicle again. Sure, cars are huge money pits anyway, but no sense making it worse than it has to be.

]]> By: Kit http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96715 Kit Fri, 31 Aug 2007 22:45:11 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96715 wow -- my car is going to have 225K miles on it long before 15 years have gone by. Is that going to save me money as well? Somehow, I don't think so ... wow — my car is going to have 225K miles on it long before 15 years have gone by. Is that going to save me money as well? Somehow, I don’t think so …

]]> By: Andrea >> Become a Consultant http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96714 Andrea >> Become a Consultant Fri, 31 Aug 2007 22:24:23 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96714 Can anyone comment on what a Honda Civic sedan (2000) is like with two kids? We've got one kid in a car seat and we'll have an infant within weeks. Is this doable or are we being crazy? Can anyone comment on what a Honda Civic sedan (2000) is like with two kids? We’ve got one kid in a car seat and we’ll have an infant within weeks. Is this doable or are we being crazy?

]]> By: Covert7 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96710 Covert7 Fri, 31 Aug 2007 21:47:12 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96710 Very timely this. One of our cars is becoming quite unstable and I don't feel very safe in letting my wife drive it. Fortunately, this is why we've been saving up and will be able to pay straight up cash for it. Now to find the right deal and slog through the horrible buying process... :( Very timely this. One of our cars is becoming quite unstable and I don’t feel very safe in letting my wife drive it.

Fortunately, this is why we’ve been saving up and will be able to pay straight up cash for it. Now to find the right deal and slog through the horrible buying process… :(

]]> By: Wil http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96708 Wil Fri, 31 Aug 2007 21:01:30 +0000 http://www.getrichslowly.org/blog/2007/08/31/how-to-drive-a-great-end-of-summer-new-car-deal/#comment-96708 Another bit of car buying advise from Consumer Reports via CNN: http://money.cnn.com/2007/08/30/autos/cr_drive_200k/ Drive your car to death and save $31000 -- if you can keep it running 200,000+ miles over 15 years you can pretty much save enough to buy the next car compared with typical consumer habits. Another bit of car buying advise from Consumer Reports via CNN: http://money.cnn.com/2007/08/30/autos/cr_drive_200k/

Drive your car to death and save $31000 — if you can keep it running 200,000+ miles over 15 years you can pretty much save enough to buy the next car compared with typical consumer habits.

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