I say this because I have been car shopping. I say this because cars are nothing but a depreciating asset at best, or a terrible liability at worst. I say this because I liken spending money on a car to the feds propping up Fannie Mae, it’s just a waste!
I have been looking at bigger cars. I have a small car and it drives me nuts. Two doors are incontinent and pretty bad at hauling around people, groceries, and definitely no good for moving 2×4’s. I have been looking at 4 door sedans and the medium sized SUV’s. I like the American models, not because they claim to be built in the USA (they often are not) but because the “imports” (built in the south without union help) cost alot more due to their slower depreciation.
I think I am going to finance about half of it. In doing the math my total finance charges would be around $200 so that is well worth being allowed to hang onto my cash in case I need it at some point in the future. That way I will still maintain a large amount of liquidity for my emergency fund.
So I will keep you posted.
Moral of the story: If cars were not so cool, I would drive a clunker forever.
What’s the deal? Almost 2 months without a post? Did you buy an American SUV or decide to roll in a CRV? I heard Toyota’s are pretty reliable these days! Jon Bon the world wants to know what you are rolling down high street in!