Originally Posted By: NHGUY
88 K car...budget $500 per year for repairs,x 5 years = $2500 max. New Dodge Dart,$17+K dollars,plus full coverage insurance,$500 a year registration,trade in value in 5 years....$6K? Net expense $12K+2500+ full insurance=$15K+
Net loss,$12,500+
Nope,not doing it.
See, I'd rather just shop for a good (or great) deal on a new (or used) car, which I've done. I don't want to drive some steaming pile of a rattle trap just to say I'm saving money. Subjecting myself to that simply isn't in the cards. I'll drive a nice car and enjoy every minute of it, and yes, I pay for full coverage insurance (which isn't that much due to my impeccable driving record) not because I have to but because I like the convenience and coverage it offers.
We have no $500 a year registration and my insurance, for full coverage, is around $1200/year.
If somebody is the type of individual that likes driving, then cost is not the only consideration, it is but one factor in the decision making process, many other parts which revolve around the traits and characteristics of the vehicle itself.
For somebody whose sole purpose of owning a vehicle is for it to get them from point A to point B as cheaply as possible, your argument works.