Quote:
Originally Posted by lonestar
I take issue with that I have a 2002 ford mustang convertible paid it off years ago.. have almost zero in maintaince costs so taht car costs me about 150 a year i out right costs ..
Have a 97 Honda civic long since paid off and a little less in outright costs per year..
Had a 2006 Volvo s4 turbo same thing, gave it to my daughter..
my total out lay on cars not count gas is less than 500 per year..
They are great investments IF yo do not replace them every couple of years..
Buy a great car and keep it and you ahead of car payments, load of maintenance issues and car insurance..
My cars look like new save the civic that was a college car for two kids..
The Audi A5 turbo I drive my son is paying for $900.00 per month.. I am paying insurance on it.. another 150.00 or so per month
If I keep that car after it is paid off then I have three great investments in transportation..
while most will change cars when they are paid for and have that 350-1000 per month cost..
who is investing wisely?
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You're not investing, you are using. Although your vehicles are all paid off, they are worth much less than the original purchasing price and as such, they are not "investments" in the financial sense. I agree that owning makes more sense than leasing in most cases, but purchasing a vehicle is a sunk cost which you will not be able to recoup unless its a collectors item or something