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Used Cars - longgggggggg.....Could be LBC related

To: triumphs@autox.team.net, 6pack@autox.team.net
Subject: Used Cars - longgggggggg.....Could be LBC related
From: jay_welch@juno.com
Date: Thu, 26 Dec 2002 08:50:09 -0500
Hi Folks,

Just cleaning out my mailboxes and wanted to share.  I thought this was
pretty good.  Next time you're stranded on the side of the road in your
250K mile bomber after going through a puddle too fast and the little
woman is telling you that you need a new car you can quote from this.....

Jay

http://moneycentral.msn.com/articles/smartbuy/car/9120.asp?special=021101
f

The Basics 

Keep your old clunker or buy a new car? 
It may clang and bang, but your despised old car may be the best bargain
around. Here are the facts on keeping the bucket-o'-bolts running and
knowing when it's really time to upgrade. 
By Des Toups 

Lets divide the car-buying universe into two camps: those who keep a car
until it drops, and those who think a new car will change their lives. 

To the first, a round of applause. Theres nothing short of the bus
thats cheaper than keeping a car until it crumbles into a pile of rust.
Almost any car can be nursed to 200,000 miles without endangering your
life, and even a new engine is cheaper than all but the cheapest used
cars. 

To the second, another round of applause, because the 16 million or so
new cars they buy every year instantly become used cars soon available at
a considerable discount to those in Camp 1. And a moment of silence,
because a new car will change their lives in ways they never foresaw on
the dealers lot. 

If youre in a drive-until-the-muffler-is-dragging wannabe, read on.
Well look at ways to keep your car on the road longer and realistically
weigh the costs of upgrading.

Id love to keep my old car, but 

It no longer fits my life. You may have taken up gardening in a big way
but still own a Corvette. You may feel nervous about taking your 78 Ford
on a trip to Colorado. Your little Accord may be a tight squeeze when
family comes to town. The answer to all: Rent. Why buy a gas-sucking
pickup because you visit Home Depot twice a year or a $30,000
sport-utility because you take the kids skiing for a week at Easter? Even
at $100 a weekend, renting is far cheaper than a car payment. Plus you
get to drive the very latest without worrying about insurance, license
tags, maintenance or depreciation. Or try swapping cars with a friend,
returning it gassed-up and clean (with the oil changed, too, if the loan
was more than a day or two. You want to be able to ask again next year.).



Those repair bills are really adding up. Then do the math. Does the cost
of repairs exceed the cost of a new car? A typical new car is $21,000,
about $350 a month for five years after 20% down. A rebuilt transmission
might run $1,500, a huge outlay in one chunk, but far less than the
$4,200 a year youd spend on new-car payments alone. If you cant afford
repairs twice a year, its unlikely you can afford a new car payment
every month. In any case, anybody with a car older than three years
should be tucking aside $50 a month for repairs and maintenance. If the
gods smile, youll never use most of it and youll have a tidy sum to
blow on your next car. 


Im nervous driving an older car. Maybe little things are beginning to
go: a new thermostat one month, a starter the next. You might simply
spend $50 on a AAA membership and carry a cell phone, reminding yourself
that even new cars arent immune to mechanical failure. The upside of
frequent breakdowns is that youll get to know mechanics quite well. Find
one you like. Flatter him. Pay your bills on time. And the next time he
fixes your car, ask him to take a few minutes to see what else will need
repair soon. 

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