Comments on: The Million Mile Pickup Truck

By: Borrowing Money is the Same As Buying Risk

Borrowing Money is the Same As Buying Risk — Wed, 13 Oct 2010 19:59:19 +0000

[...] For instance, take the issue of cash flow. Let’s assume I am interested in a new (to me) pickup truck. I find a good deal on a late model used truck for $18,000, and I can finance the truck through my credit union at 2.99%. I find a similar good deal at the dealership on a new truck for $25,000, at zero percent interest, and have plans to make it a million mile pickup truck. [...]

By: Wain

Wain — Sat, 16 Jan 2010 21:54:05 +0000

I’ve read so many articles of the sort but never one that puts it so plain and simple. Since 2003 we have replaced our cars at least 5 times, what a waste of money. However at the end of 2008 i told the wife to choose a car to keep for a very long long time. She said that NEW will be the only way to go, to avoid arguing i went along for the ride. She chose the VW Jetta diesel. Why a diesel; well diesels are known to last for ever. We agreed that the car will have to stay with us for at least 300K, at 15K miles per year translates into 20 years of ownership; Keep in mind the life spam of a car is not based on years but miles driven. As for me i drive a 1987 BMW e28 with only 250K on the clock, the car runs so good, i see myself driving that car for another 20 years of my life. My BMW feels so solid and reliable. I do my own detail on my cars, wax at least once a year, interior maintenance: leather, vinyl, carpet conditioning at least twice a year, keeps the cars looking like new for it’s entire life. Personally i don’t mind driving a very old car but condition wise must look and drive sharp.

By: Upside Down Car Loans: Eight Simple Steps To Get Out Fast | Frugal Dad

Upside Down Car Loans: Eight Simple Steps To Get Out Fast | Frugal Dad — Mon, 11 Jan 2010 10:13:40 +0000

[...] only do so when you have the cash to pay for it. Who knows; you might even find yourself driving a million mile car one day and skipping car payments [...]

By: There Are No Financial Cinderellas | Frugal Dad

There Are No Financial Cinderellas | Frugal Dad — Sun, 28 Dec 2008 14:12:40 +0000

[...] again. The average new car payment in America is $475 a month. Sell that sporty new car, buy an old, reliable, used car with cash and drive it until the wheels fall off. Keep driving used cars the remainder of your life [...]

By: Vehicle Buyback Programs Help Used Car Dealers, Not Consumers | Frugal Dad

Vehicle Buyback Programs Help Used Car Dealers, Not Consumers | Frugal Dad — Wed, 29 Oct 2008 11:00:30 +0000

[...] from an incurable form of car fever, I went out and financed a late model, used Chevy Silverado pickup truck. It ranks right up there with the dumbest financial moves I’ve ever made. I fell victim [...]

By: Almost Frugal Five Things You Should Not Spend More Money On — almost frugal

Mon, 21 Jul 2008 10:03:09 +0000

[...] of bells and whistles, and then taking care of it and driving it for a long time. Some people even, drive their cars for a very long time. We anticipate having our cars until we move, maybe even after if we move [...]

By: 28 Unique Bits of Financial Brilliance | Marc and Angel Hack Life

28 Unique Bits of Financial Brilliance | Marc and Angel Hack Life — Thu, 17 Jul 2008 11:19:01 +0000

[...] A car lasts longer than 5 years. Stop wasting your money! – “Cars are simply a method of basic transportation…that’s all they are. They are assembled hunks of metal sitting on four tires designed for the purpose of transporting us safely from point A to point B. I doubt Henry Ford ever envisioned the kind of luxuries we see in today’s automobile – voice activated radio controls, heated leather seats, heads up displays, and backup cameras installed in bumpers. If families invested the $400 a month wasted on new cars into a good, growth stock mutual fund for 30 years they could easily retire millionaires. Hope you like the car!” – via Frugal Dad [...]

By: Please Let Me Talk You Out Of Buying a New Car | My Super-Charged Life

Please Let Me Talk You Out Of Buying a New Car | My Super-Charged Life — Fri, 28 Mar 2008 12:21:49 +0000

[...] that is very handy when I occasionally need to haul or pull something. It isn’t the million mile truck, but it has a few scratches and it makes a noise here and there. However, it is worry-free [...]

By: If I had a Million Dollars (Linkified)

If I had a Million Dollars (Linkified) — Wed, 12 Mar 2008 12:56:23 +0000

[...] And if I had a million dollars – (If I had a million dollars) Well, I’d buy you a K-Car (A nice reliant automobile) If I had a million dollars – I’d buy your [...]

By: Resisting Financial Peer Pressure | Frugal Dad

Resisting Financial Peer Pressure | Frugal Dad — Fri, 22 Feb 2008 11:08:14 +0000

[...] I mentioned this phenomenon back when discussing the financial hole people dig themselves by buying new cars. It’s hard to justify spending hundreds of dollars a month for the right to drive something [...]