suggested reading

jannieApril 10, 2007

Today's New York Times has an article devoted to penny-pinching in the Retirement section. I read this newspaper for free when I go to my local coffee shop. It mentioned two websites.Bloggingawaydebt is writtewn by a young-ish working mother and Mightybargainhunter is by a retired male physicist who enjoys saving money in creative ways. . Both sites looked interesting. Thought the folks here would approve. The woman who writes blogging away debt has paid off $15,000 of credit card debt and the man who does the other site says his best advice is to buy used goods cheap. Did you know new cars lose 20 percent of their value in depreciation in the first year or two, and at a much slower rate after that?

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Chemocurl zn5b/6a Indiana

Will have to check them out...Thanks!

Did you know new cars lose 20 percent of their value in depreciation in the first year or two, and at a much slower rate after that?
I wonder how much it depreciates after you drive it off the lot, or put 500-1000 miles on it.

I'm in the market for a good used car, but it'll have to be a lot more depreciated than 20% for me to consider it.

Sue

    Bookmark   April 10, 2007 at 4:32PM
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mikie_gw

did you know if you buy a classic car before it becomes a classic you can easily sell it for more than you paid for it initially. Worth even more with low milage.

So buy a new used depreciated car and dont drive it.

    Bookmark   April 11, 2007 at 3:56AM
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jannie

At what point does a car change from being an old junker to being a "classic"? My daughter drives our old Mercury Sable,it's a 1992 model with 160,000 miles on it.

    Bookmark   April 15, 2007 at 10:33AM
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bud_wi

Where I live you can even save money on licensing with an old car. You can get collector plates instead of regular plates. They don't come out to check to see if it is an old junker or a gem, they just go by the year of the car. It has to be over twenty years old. I told my retired parents that their car will acieve "collector status" in two years (LOL) and they can save money on their plates.

    Bookmark   April 16, 2007 at 12:24PM
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klimkm

Yes, but in order to be able to use the antique plates, you are supposed to not use it for everyday driving. You can drive it to and from shows and cruise nights. And to and from maintaining it obviously, like gas stations and car washes. But you will get ticketed if they catch you driving it around like everyday transportation.

It is like this in IL if you have antique plates. My neighbor got a ticket because he tried to cheap out and get the antique plates. He drives his old car daily and got busted.

We have gotten a good deal on carmax car, you can even shop online cars from other locations and if you see one you like you can have it shipped up from wherever (ours was in TX) so you get an even larger selection over what is just at your local carmax.

    Bookmark   April 16, 2007 at 1:58PM
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