Posted by Glen of Idaho [108.162.215.89] on Saturday, January 16, 2016 at 11:24:58 :
In Reply to: POLL posted by Gil in Kentucky [173.245.55.63] on Saturday, January 16, 2016 at 09:55:14 :
I look at it relative to the price of land. A new vehicle is not an investment, if you are like some people and want to call it an investment then I will agree with you. It is a bad investment. Dollar for dollar return there is no comparison. The price of three new trucks will buy me over 100 acres of productive farm ground that will return over 4% per year and will resell for the same or more depending. A new vehicle will cost more per year than that and will be worth less.
The millionaire next door said to buy plain Jane low mile used cars and drive them 10 years then get another one. I have done a lot of that but have also bought some new stuff. It takes some real discipline to ignore the sirens call of "wright it off and depreciate it".
It helps if you like to look like you don't have two dimes to rub together when you roll up in your old heapmobile.Let them think what they will. Why should I buy things other people like to impress them?
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