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Buying a new used car - OT

Posted By: David Rockwell
Date: Saturday, 14 August 2010, at 2:51 a.m.

In Response To: Buying a new used car - OT (Stick)

If you want another car, you should buy one. Let's look at the numbers.

Option #1 - rent when needed

Let's say you rent a car whenever one is needed when you are in Ohio. With ABT weekends, let's say that comes to 40 days a year. I'll assume that you get a car for $50 per day. That's $2,000 per year.

Option #2 - buy a car

Let's assume that you buy a car for $7,000. Further assume that you keep it for 5 years and that over that time you spend another $3,000 on maintenance. Then pick a nice round number of $1,000 a year for insurance, taxes and fees. That's $15,000 over five years or $3,000 a year.

My assumptions may be off by a lot. So, fill in your own assumptions and see how the costs compare.

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