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Your story on cars just doesn’t add up. A 13 miles commute one way 365 days a year is under 10k miles add in 40 miles a week for the grocery run and you are 11.5k
Also if I remember correctly you are extremely hard on vehicles with an absurd amount of major service issues at an abnormal rate
Work and the store is not our only driving. We are a one car household. I feel like I live in the car between taking son to meet father out of state, running the kids to activities like sports and camp. This week I am running every evening to see one dog currently being held out of state. My daughter treats an hour away so that also adds to my yearly driving.
We don’t spend much time at home. Does anyone really only go to the work daily and the grocery store weekly?
Work and the store is not our only driving. We are a one car household. I feel like I live in the car between taking son to meet father out of state, running the kids to activities like sports and camp. This week I am running every evening to see one dog currently being held out of state. My daughter treats an hour away so that also adds to my yearly driving.
We don’t spend much time at home. Does anyone really only go to the work daily and the grocery store weekly?
No most people don’t only do that alone but most people don’t drive enough outside of work and groceries to more than double their annual mileage either
Work and the store is not our only driving. We are a one car household. I feel like I live in the car between taking son to meet father out of state, running the kids to activities like sports and camp. This week I am running every evening to see one dog currently being held out of state. My daughter treats an hour away so that also adds to my yearly driving.
We don’t spend much time at home. Does anyone really only go to the work daily and the grocery store weekly?
My wife and I combined don't even put 6000 miles a year on our cars.
Cars and their associated costs are huge, for those 20,000 miles you spent around $800/month on running your car on direct and indirect operating costs. They are nothing but a money suck yet so few change their lifestyles to reduce car need/use significantly.
You're either going to pay the tows, repairs, and maintenance it takes to drive a used cash car until the wheels fall off or you're going to pay the car note and depreciation of a new car.
You're going to pay big bucks either way.
The key is to get a lightly used car that already has a warranty (perhaps certified pre-owned), one that you can pay off within 3-4 years. Now it's not too old to break down every 3 months, the depreciation is largely ate by the previous owner, and you don't have some long term loan to worry about.
The solution is not always black or white, sometimes it's gray.
That's me JJOnes,
I am more interested in growing my net worth. I am in no big hurry to pay off my mortgage and plan on happily retiring with a mortgage.
Right now my investments are yielding around the 10-11% return. my mortgage is 3.75%.
Now generally I put about 35k miles on my car, courtesy of working 50 miles each way and driving on most of the family vacations. I've brought new cars usually because I wait and get 0% interest deal. My current car I brought new, a 2012 infiniti g37. I put down 50% got 0% financing from the dealer for 24 months. I'll keep it for maybe 4 more years, turn it in and decide if I get new again. I currently have about 160K miles on it.
needless to say I am not a Dave fan or follower. I have a hard time understanding how people will let a perfect stranger dictate their financial life but that's just me.
As someone once said to me, it’s easy for me to think I scored a run after having hit a single when in reality, I was born on third base. Not every millionaire pulled themselves up by their own bootstraps.
When I do catch him on the air, I enjoy Dave’s advice knowing it’s not aimed at me but rather, those not as financially literate. Sometimes, everyone needs a little push in the right direction.
As someone once said to me, it’s easy for me to think I scored a run after having hit a single when in reality, I was born on third base. Not every millionaire pulled themselves up by their own bootstraps.
When I do catch him on the air, I enjoy Dave’s advice knowing it’s not aimed at me but rather, those not as financially literate. Sometimes, everyone needs a little push in the right direction.
Absolutely!! I just prefer to actually get my pushes from people that actually KNOW me and my situation instead of from someone off of tv that gives out these ridiculous (to me) statements like don't buy a new car without 1 million dollars.
Absolutely!! I just prefer to actually get my pushes from people that actually KNOW me and my situation instead of from someone off of tv that gives out these ridiculous (to me) statements like don't buy a new car without 1 million dollars.
Again just me.
Depending on how you prioritize things as well as how you look at risk, it isn’t that ridiculous to many. Most people no longer have pensions to help fund retirements and social security is unlikely to cover all the needs we will have. As such, retirement savings is important for a large percentage of people. The traditional SWR (safe withdrawal rate) has been 4%. That percentage can be debated one way or the other, but if we apply that percentage to $1 million, that comes to $40k a year, which is a modest amount of many for many.
You're either going to pay the tows, repairs, and maintenance it takes to drive a used cash car until the wheels fall off or you're going to pay the car note and depreciation of a new car.
You're going to pay big bucks either way.
The key is to get a lightly used car that already has a warranty (perhaps certified pre-owned), one that you can pay off within 3-4 years. Now it's not too old to break down every 3 months, the depreciation is largely ate by the previous owner, and you don't have some long term loan to worry about.
The solution is not always black or white, sometimes it's gray.
All these people making up BS about used cars....
In the last year I put 20,000+ miles on my 2006 Ford Ranger.
Other than oil, filter etc.
I spent <$100 on replacing the thermostat that I didn't feel like doing myself!
That's it and FAR more the norm that the fiction I quoted.
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