If you are going to own a vehicle, you will pay for depreciation. It is one of those unavoidable expenses which, like termites, will quietly and secretly gnaw away at your financial foundation. Depreciation expenses are especially sinister because they remain in the background (who actually writes “vehicle depreciation” into his budget?) and are therefore […]
Should You Trade Cars in Order to Get Better Mileage?
Calculating how much money you could save by switching to a car which gets better gas mileage is simple math. However, because other factors normally apply, your car decision is not always simple. Start with the Math If you are going to pay more money for a car which gets better mileage, you should calculate […]
Is Buying a New Car For Zero Percent Interest Loan a Good Idea?
My friend Larry recently asked me a good question that led to a challenging question: “Joe, isn’t it true that everyone needs to be putting aside money every month for a car fund?” Joe, “Well, yes. Although some may be wealthy enough to have a nest egg generating vehicle purchase money, the vast majority of […]
Why I Put a New Engine in My Old Cadillac
My post “My car needs a new engine. Should I sell it, fix it, or junk it?” from October, 2010 received quite a few comments, with many recommendations to sell it, quite a few to fix it, but only a couple who thought I should replace the engine. Since that time, I have continued to […]
How to Help Your Child Purchase That First Car
Requiring your teen to work and save for her first car is a great life lesson. We have done a few things right and several things wrong in helping our four children get that first car. Hopefully, you can repeat our “rights” and avoid our “wrongs” as we explore the issue of helping your teen […]