Alan
Chenkin, Shade Tree Mechanic, Bicycles, Cars, Boats, and more...
First you have
to calculate how much money you have to spend on transportation, including
reserves for repairs or maintenance, insurance, titling (registration), etc.
Once you have
this amount, and hopefully some money for taxes and a deposit, see what kind of
car you need to buy, and what it will cost.
For example, if
you are starting a family, you may want a 4 or more-seat sedan. Or a minivan.
If you are single, maybe a small two-seater might be more your style. Also
consider if you drive a lot; as a business expense, you may be able to buy or
lease a newer vehicle with lower mileage on the odometer.
Most important,
realize that a car is a depreciating asset. Its value decreases with age,
mileage, and condition. If you don’t have to impress anyone, buy the most
vehicle you can for the least amount of money. Invest in
maintenance, tires, brakes, etc. as the vehicle will hold up better if it is
attended to. Neglected vehicles tend to fail more often, and have shorter
service lives.
My current
vehicle is a 13 year old minivan, with a sunroof and leather interior. starting
to show it’s age, but very well maintained, with no note, as I own it outright.
Be smart, don’t
overpay, and good luck with whatever you buy!
Thanks for
reading my blog! Feel free to share.
This post is
from my answer in Quora.
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