Comments on: Your Car is Making You Poor And What You Can Do About It

By: David

David — Tue, 16 Feb 2010 18:29:27 +0000

Everyone needs a car and it has to run well, hopefully cheaply, without costly repairs. IT took me a long time to decide to be a bit ahead of the game as far as unexpected costs go. Now I cover my car repair expenses, easily. We all need to keep our cars going as long as possible, in this economy. Check out-
http://www.MyFreeAutoRepair.com

By: Thomas Bailey

Thomas Bailey — Wed, 11 Nov 2009 06:48:18 +0000

I have never had a car, and could live perfectly well without one. A bicycle has served me well for the past 20 years and has taken me considerable distances. Before that, I usually walked.

By: Ned

Ned — Sat, 10 Oct 2009 09:34:54 +0000

New car smell is very expensive. If not financed correctly, you may find yourself upside down on your loan for the first three years.

By: Secret Squirrel

Secret Squirrel — Thu, 17 Sep 2009 23:11:31 +0000

@Freshly Frugal – The good news is your new car will be there for you when you persue your next job interview so you can get a raise! That or start delivering pizza or flowers to make a little more as far as refinancing, I’d reccomend getting into a credit union their rates and benefits are much better than a car loan from their financer or a big bank. Glad to hear you got credit at all, just make those payments on time! =)

By: Freshly Frugal

Freshly Frugal — Wed, 16 Sep 2009 05:00:00 +0000

I recently financed a car as I needed transportation to get between home, work, and school. Now I wish I had read this article before I signed all those papers! I’m using my car to get to work and my earnings go straight back to the car. What a vicious cycle. In the meantime, I’m trying to maintain it best I can so hopefully still have it in good condition when it’s finally payed off (even if that’s eons from now). Does anyone have suggestions on how to go about refinancing? I’m just a student and have very little credit to my name.

Other unwanted expenses include license plate renewal ($250+ a year). That caught me by surprise recently. Yikes.

By: Secret Squirrel

Secret Squirrel — Wed, 09 Sep 2009 21:28:39 +0000

Don’t forget to also include property taxes if you live in a state/county that charges for that = $50+ monthly to pay the yearly fees.

By: Savings Accounts Girl

Savings Accounts Girl — Tue, 08 Sep 2009 15:41:32 +0000

I totally agree with you Mortgage Joe. It’s best to buy a brand new car and take care of it well. I’ve known people who have had their cars for 10+ years and never had any crazy car maintenance issues – except for the minor oil change and stuff.

By: Greg

Greg — Mon, 07 Sep 2009 00:37:12 +0000

Great article, I Tip’d it for you!

Here is to driving an 11 year old car. It’s worth every penny I don’t pay for it each month!

By: pays to live green

pays to live green — Fri, 04 Sep 2009 16:36:18 +0000

Owning a car cost way too much and the fact that mechanics and dealerships can charge almost whatever they want is ridiculous. I can’t wait for electric cars become more readily available as they have much less parts that are on our current gas powered cars.

By: Mortgage Joe

Mortgage Joe — Fri, 04 Sep 2009 13:02:23 +0000

Bang On! I deal with personal finances every day and car expenses are out of whack for many. Leasing or financing a car every 4,5 years is madness. A couple of good books releated to this are THE MILLIONAIRE NEXT DOOR and DRIVER IT FOREVER… buy a sensible, reliable car and maintain it well…cars can look & drive like new a lot longer than people expect…even in our tough climate.