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Subject:  Re: Newbie IRA question Date:  1/12/2005  6:10 PM
Author:  pgray007 Number:  44007 of 78168


After being a debt slave for so long, I want to help as many people as I can!! On the car front, I did some simple math. I was leasing so there was no way to avoid getting brutalized, but I looked at the hit I was going to have to take, then I looked at the potental savings of driving a "less impressive" vehicle for a year. At about $700/month on car payments and insurance, I could afford up to a $8400 hit if I drove the clunker for one year. I was able to make out significantly better than that, so in essence, it was about $6k into my credit cards. Sure I was a little less stylish in the 1991 max, but my friends and family loved me all the same!

Try checking with some family members and friends and see if any of them are willing to "donate" an older car to you, and do the math and you'll likely come out ahead, upside down or not. Our max is still going strong at 200K miles, and works great as a train car for my fiancee.

The key with all this stuff is to take emo