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| The Cheapest Car You Can Ever Own |
| Written by Griff Hanning |
| Friday, 02 July 2010 04:01 |
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The idea of "going green" and being fuel efficient when it comes to cars is hyped up to be a great money-saver for people. The truth is, it probably isn't. Getting a new fuel efficient car in order to save money may actually end up costing you money. Howard Dayton, in his book Your Money Map: A Proven 7-Step Guide to True Financial Freedom He did hours upon hours of research and finally "...came to two conclusions: The cheapest car anyone can ever own is always the car they presently own, unless it is sold and the proceeds reinvested in a lower priced car; and the longer a car is driven, the cheaper it becomes to operate." He describes how the cost and depreciation of the new car would far outweigh the cost of the maintenance and up-keep of his Oldsmobile (which is what he was wanting to get rid of- kinda can't blame him.) The man is a genius when it comes to numbers and finance, so to argue his point and make up some kind of excuse of how buying the new Honda Hybrid is going to save you tons of money over the long run would be stupid and naive. Now, neither Howard nor myself would tell you that there's never a good time to buy a new or at least newer (more expensive) car, BUT what I want to emphasize is that if you are buying a new(er) car for financial reasons - you're about as smart as a lady who wears high heels to go a hike a mountain. (yes I just related you to a lady in high heels hiking a mountain- ever seen one? Me neither. Point made). Stop following the advertisements on TV and start doing a little research before you make big purchase like a car or house. Most of the time you just need to be content with what you have in order to save money. Financial freedom starts with your choices today. Make them count. Want to learn how to save thousands of dollars every year? Register for free today!
The 5G Plan will show you the "secrets" to saving your money effectively by going after the big wins.
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Looking for the next best fuel saving car? Want to buy a reliable new Camry or Honda Civic in order to save money? You may want to think twice.