[Spridgets] summer school cars
b-evans at earthlink.net
Fri Jun 20 12:45:04 MDT 2008
Brad wrote: "Anyway, my first car, a 68 Chevelle SS396 convertible, my
parents bought. BUT, I had to pay back all $300 over the summer."
Yep! Been there, done that. When I wanted to buy the Sprite, I wasn't
making enough money by defending the women and children of Free America from
the Evils of Communism. So, I borrowed over $1,000 of the $1,795 selling
price from my folks. They charged me *6% interest*, more than they could
get in interest from a savings account, but less than I would pay if I had
even been able to finance the purchase. They gave me a payment book in
which Mom computed the payments AND delinquent payment charges. When our
teenagers came to the point they wanted a car, they had to save 25% of the
cost, and we lent them the rest at 6% interest. Complete with payment book.
The kid across the street, who was born the same day and in the same
hospital as our twins, was given a brand new 280Z. Of course he didn't
come by to see his parents for 10 years after getting out of school. We
kinda think that 6% interest charge we put on our loan to the kids was our
best investment ever!
Incidentally, is there any question on the original selling price of the
Sprite. I once saw a web page that said, "The original selling price was
approximately $41,820." (http://tinyurl.com/62p9hh) Duh! Sorry, but the
receipt says $1,795, plus 3% sales tax.
Don't you wish you still had that Chevelle? Dreams.
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