The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/even-so-its-a-pretty-bold-claim-even-if-you-30815544.aspx

Subject:  Re: update Date:  8/7/2013  8:05 PM
Author:  NoIDAtAll Number:  307164 of 309050

Even so, it's a pretty bold claim. Even if you adjust for historical inflation (I don't really know his time frame, so I can't really adjust) and say that going forward he's only expecting to pay $500/year, that's still quite cheap.

- Joel



I gave you an example, Joel:

1992 Ford Escort purchased in 1996. 2013 - 1996 = 17 years.
Original cost of the car: $2200
Cost of replacing the clutch: $500
I also had to have the time belt replaced once (I forgot to mention): $500
5 brake jobs (3 front, 2 rear jobs), $75 each: $375
2 sets of tires: $550.

I think that totals around $4,125, and dividing that by 17 years I think totals a little less than $250/year.

Bob
Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us