As part of Scott’s change in jobs at the beginning of 2017 we needed to make a car purchase. Scott has had a company vehicle since 2009. A new car as well as the increase in insurance had not been part of our budget. Setting aside money every month for a replacement car for me was.
For the record I don’t buy new cars. I have a tendency to run the car until it doesn’t work anymore the math doesn’t work out for me. If I want to spend $300 a month on a car if I were to buy a new car for $35,000 I would have to drive that car for almost 10 years to make it worth my money. If I were to buy a 4-year old car for $15,000 I would only have to drive it for a little over 4 years to make it worth my money. Which is the difference between , making the car 8 years old vs 10. So much deprecation happens within the first few years of the car you can save some money buying used. I would rather someone else pay for the deprecation vs me.by