(December 3, 2016 at 4:17 am)Tonus Wrote:(December 2, 2016 at 10:18 pm)mh.brewer Wrote: Pay cash when you can for new automobiles. Paying interest on something that depreciates instantly, do the math.
Another way to look at this: don't buy a car unless it's at least three years old. It will have lost considerable value within the first three/four years but should still be in good/great shape. For luxury cars that rule is more like six-to-eight years.
Also... I don't have a budget-- I keep a ledger. Instead of planning my spending beforehand, I track it as I go. Looking at my ledger tells me how much I'm actually spending on stuff, including stuff I need (food, mortgage, utilities) and stuff I can do without (entertainment, miscellaneous items). Knowing where my money is really going is a great help in figuring out where to cut back.
When you buy used cars where do you usually buy them from?
I don't have an anger problem, I have an idiot problem.