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My favorite is when people get so upset over spending $500 - $1000 per year on non-maintenance repairs, that their "solution" is to buy a brand new car that loses $4000 in value the moment they drive it off the lot and continues to lose $1500+ per year for the next several years. Guess that old jalopy wasn't so bad, eh?
Yup, they won't spend a couple hundred bucks or whatever to fix their old car, but they'll spend 10x that on a new car! Penny wise and pound foolish at it's finest!!!
My favorite is when people get so upset over spending $500 - $1000 per year on non-maintenance repairs, that their "solution" is to buy a brand new car that loses $4000 in value the moment they drive it off the lot and continues to lose $1500+ per year for the next several years. Guess that old jalopy wasn't so bad, eh?
If a person is losing that much on a car each year, they should’ve paid more money down. A bigger down payment can atleast “pay for some of the depreciation” upfront.
What’s worse, is when these people have cars that are underwater and they still get a new car. So now the new car is underwater before they even drive it off the lot.
You seem interested in keeping poor people poor. I want people to take responsibility for their lives and to work hard to NOT BE POOR! Being poor is a mindset, it's your attitude in life that determines whether you are successful or not, don't try to blame it on anything else.
If you see yourself as a victim YOU WILL ALWAYS BE A VICTIM!!!
I learned a long time ago, Jimmy, that a person shouldn't get too far up on that high horse. When you fall it hurts even more.
I've had very prosperous times in my life, and also have been in the pits of desperation financially at times. Same guy, same work ethic, same skills, but life has a way of teaching us humility when we least expect it.
Things always looks so black and white, simply work hard and you will make money. Not always the case, because unforeseen events can kick you in the butt with no warning.........health issues, divorce, job loss, etc, etc.
Hope you never find out, like many of us have, that your life can change in a millisecond.
The OP does sound angry and I don't know why. There are many people that need a car but they don't have enough money to buy a new one with a warranty. These people often don't have enough money to buy a decent used car or they might not have the credit so they have to settle on a older high mileage car and cross their fingers that it won't break down.
They will often drive this car into the ground and do as little as possible in preventative maintenance.
Some people just don't have a choice when it comes to driving a crappy car and hoping for the best.
Guess I'm not completely following your thought process. In 2000 I bought a new F250 diesel that I drove for 14 years. It was a good truck during most of my ownership, but as I began driving it more towards the end, repairs began mounting. The last three years of ownership cost me $8-$10K per year in repairs -- just repairs. I'm not talking about tires, fuel, oil, just broken things. It was always repaired at the dealer, because I wanted it done right. The internal workings of the engine and transmission never gave me problems, it was the "nickel and dime" crap that usually cost $1K to $2K every month or two.
As much as I liked it, at 151K miles it was time to trade for something that was cheaper. (Actually, I should have traded it sooner... or maybe later, but three years of high maintenance seemed enough to accept that this was the new norm for the vehicle. I got a Prius. I've now driven it 3.5 years, 85K miles, and the only item so far to crap out has been a couple sets of wiper blades. Normal operating costs are 1/4 what they were, repairs have been near zero. The car cost ~$25K, so I'd have likely spent that much on truck repairs in that time if I'd have kept it.
Had I not taken my current job that requires a lot of highway driving, that old F250 would probably still be with me, but the high amount of miles I was driving just didn't work for it. If it had anything to do with HOW I was maintaining it, I still don't know what that would have been. Sure, I could have worked on it myself some, but those hours would have cut into my income. I could have found an indy shop that was cheaper, but would that have been better in the long run? I don't know. I think vehicles just reach a point where they're not dependable for high mileage uses. That might be 100K miles or it might be a million miles, but whatever it is for your specific vehicle, there's a point where it's just time to bite the bullet and start over with something new(er).
I feel like I know this to be fact at this point. What I don't know is when would be the best time for me to trade again. Today? Next year? Two or three years from now? All I know for sure is that if I drive it long enough, there will come a time when I say, "Crap, I shoulda traded it last year!" I'd rather trade it before then.
You seem interested in keeping poor people poor. I want people to take responsibility for their lives and to work hard to NOT BE POOR! Being poor is a mindset, it's your attitude in life that determines whether you are successful or not, don't try to blame it on anything else.
If you see yourself as a victim YOU WILL ALWAYS BE A VICTIM!!!
You blame your bosses a lot for stuff. WHy not just open your own shop...now?
Yup, they won't spend a couple hundred bucks or whatever to fix their old car, but they'll spend 10x that on a new car! Penny wise and pound foolish at it's finest!!!
I know a family that is in this very situation. They have a 12 year old car that they bought used with lots of miles on it but it was the best they could afford. They have not taken care of this car and it is trashed on the inside and out. The engine light is on, they have a rejection sticker on it and for the past 2 years it sounds like the front tire is going to fall off when they go around a curve. I blame them for not taking the car to at least get an estimate on what the terrible sound is and if it is a danger. I guess they are afraid to find out because it will probably be expensive.
They are in a tight spot because the car is falling apart around them but a few years back they had to refinance it which means today they are still making payments. They owe about $2000 the car is worth $1000 on trade in and their credit is shot. What are they going to do? If the repairs cost more then the car is worth they plan on trading it in and crossing their fingers.
It is a mess that I hope to never find myself in.
It is not so much penny wise as pound foolish but it is life for a family that is just scraping by.
I learned a long time ago, Jimmy, that a person shouldn't get too far up on that high horse. When you fall it hurts even more.
I've had very prosperous times in my life, and also have been in the pits of desperation financially at times. Same guy, same work ethic, same skills, but life has a way of teaching us humility when we least expect it.
Things always looks so black and white, simply work hard and you will make money. Not always the case, because unforeseen events can kick you in the butt with no warning.........health issues, divorce, job loss, etc, etc.
Hope you never find out, like many of us have, that your life can change in a millisecond.
Couldn't agree more Don!
That's why I try and "hedge my bets" and be as prepared as I can for situations like this. But obviously one cannot prepare for everything.
I read a quote once that sums up the unpredictability of life, don't remember it exactly but I'll paraphrase:
"A good 95% of things I worried would happen never did. And a good 95% of things that did happen never occurred to me to worry about."
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