Posted by M.S. on May 20, 2009
There are some fantastic deals right now if you plan to do any traveling, since the economy in the doldrums!
Recently, I took a trip to Chicago and needed a rental car while I was there. I found a fabulous deal at Enterprise Rent a Car through Hotwire.com for a midsized car at only $ 19 per day!
When I arrived at O’Hare Airport, I was given a BRAND NEW Chevy Malibu–with only 11 miles on it! It worked like a charm and even better- it smelled like a new car!
I was driving in luxury while still being frugal!
Check out those Hotwire deals!
Posted by M.S. on May 1, 2009
Did you know that the moment a car is driven off the lot, it is worth alot LESS than when it was purchased 5 minutes earlier? One of the very best and easiest things you can do to save money, build wealth and get rich is to ONLY buy USED older model cars.
Remember the rule we have practiced for 32 years–We try to only invest in appreciating assets–NOT depreciating assets. Because our goal has been to save as much as possible, we have NEVER invested in new cars!
Buying used cars has put loads of extra money in our hands which we used to buy stocks, mutual funds and investment real estate. We’d rather gain wealth than try to impress other people and make automobile companies richer!
So, in keeping with that philosophy, 3 years ago we purchased a used company car, as it was about to be sent to the auto auction. The car is a 2002 Ford Taurus, it has 170,000 miles on it and we only paid a couple thousand dollars for it. It’s not super pretty, but it gets us where we want to go!
We figure we have saved $12,600 on that car in the past 3 years, since the average car payment is about $350 per month times 36 months = $12,600. Invest that money for 20 years and you’d have almost $60,000 if you could earn 8% on the money! The car still runs, so we are continuing to save money each month!
We’ll take the money rather than the new car or the admiring glances!
Click here to calculate what you can save.
