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Re: other fun alternatives Posted by Justin VanAbrahams [Email]  (#32) [Profile/Gallery]
(more from Justin VanAbrahams) on Fri, 27 Sep 2013 17:00:05
In Reply to: Re: other fun alternatives, AeroLady, Fri, 27 Sep 2013 15:32:58 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I have that conversation a lot with people considering new & used cars. I think you really need to factor in the value of your time to really get the full picture. I know people who make hundreds of dollars an hour, and being stuck on the side of the freeway would be very costly. I make a lot less than that, and waiting an hour for AAA or whatever really wouldn't break me.
On the same note, you're right $250/mo buys a LOT of maintenance on an older car. I wager that if the average car owner took his/her car into a shop once a month for a $125 inspection and put the other $125 in the bank to pay for whatever repairs came up, they'd end up with a solid, average, financial return of +$750/yr. And that of course is a zany waste of money, taking your car in monthly for a two hour inspection!
Personally, I have never owned a car that completely unpredictable in its ability to drive 15 or 20 miles. I've never sat behind the wheel and thought, "I have no idea what's about to happen." I've had deadly reliable cars that fail randomly, and I've had completely unreliable cars I wouldn't drive out of the neighborhood. But never a car I trusted 100% only 50% of the time. :) You know *roughly* what your car is capable of.
My approach has always been to budget $500 or so annually for car maintenance. Sometimes you spend $500 in a year, sometimes you don't. Where people screw up, IMHO, is taking the balance of what they've actually spent and blow it on booze & hookers (or whatever). Then when that $1500 repair shows up it's a real burden. Put $500 annually in a bank account and use it only for car repairs. Dollars to donuts, you'll come out WAY ahead of a $250/mo lease over a several year period.
posted by 12.195.130...
, Mon, 30 Sep 2013 14:33:58, Mon, 30 Sep 2013 10:31:39, Mon, 30 Sep 2013 10:08:27, Fri, 27 Sep 2013 15:06:18
, Sat, 28 Sep 2013 07:10:35, Fri, 27 Sep 2013 19:07:10, Fri, 27 Sep 2013 17:00:05 <-- Viewing This Message
, Fri, 27 Sep 2013 18:07:37, Sat, 28 Sep 2013 11:02:54, Sat, 28 Sep 2013 11:31:49, Sat, 28 Sep 2013 14:35:06, Sat, 28 Sep 2013 14:50:17, Sat, 28 Sep 2013 23:57:31, Sun, 29 Sep 2013 06:55:50, Mon, 30 Sep 2013 10:17:49, Sat, 28 Sep 2013 03:30:43, Sat, 28 Sep 2013 07:12:54, Sat, 28 Sep 2013 16:04:28, Fri, 27 Sep 2013 16:32:29, Sat, 28 Sep 2013 12:53:16, Mon, 30 Sep 2013 08:32:42
, Fri, 27 Sep 2013 17:32:03
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