T-Roy

T-Roy

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in blankstare news-- BUYING A 10-YEAR-OLD CAR IS THE CHEAPEST WAY TO GO

TeeRoy's 2 Cents:

  • Making smart choices with money is important, but this is your car we’re talking about. Aren’t cars more than just machines that get you from point-A to point-B?
  • Cars mean more to single guys than they do to married guys. If you’re married, what are you trying to accomplish by driving a hot car? Are you trying to impress your next wife?


Some personal-finance experts crunched the numbers and figured out the most expensive and cheapest ways to own a car. You will spend the most money on vehicles in your lifetime if you buy new cars and then trade them in after five years. But you will spend the least amount of money on vehicles if you buy 10-year-old vehicles and then get rid of them after five years.

Of course, this means never having a nice new car -- or even a car that’s “like new.” Ten-year-old vehicles almost always look old. But your bank account will be better off if you’re in a car that’s been around the block a few times. (MarketWatch)



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