Quote:
Originally Posted by wildthing
Toys must be bought used with cash, not financed
|
Couldn't agree more.
I've had take-home company car(s) for the last 14 years so that has really skewed how I think of this subject.
I like to have a beater for running around doing errands, junkyard runs and taking the boat down to the bay. My current beater is a low mileage, 20 year old Honda SUV that is only worth about $3,000 in today's dollars but its been rock solid reliable and I don't care HOW many people door ding me. My 'nice' car is a low mileage 2001, 530i that is mainly for roadtrip and date night use although it still does duty for just running around if I'm not in a beater mood. It's probably worth $6-7k to the right buyer. I have 3 cool/fun cars all insured as agreed value 'collector cars' to the tune of $80k+ but I just don't have enough time to drive them as much as they deserve. I want to get rid of one or two but I'm emotionally attached and I can never decide which two need to go.
