UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: sturne012 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308858  
Subject: Re: My First Auto Loan Date: 3/7/2009 7:35 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Islandfooln:

Welcome to the world where everyone has a vehicle. Take a look a the most recent Consumers Magazine, their auto issue. First, look toward purchasing a used vehicle. Cars depreciate as you drive them off the lot. They are not an investment.

Having said that, look toward a Honda or Toyota in your price range. If taken care of they run for ever. You should be able to go to 200,000 miles easily on either vehicle with just normal maintenance and repair.

That's the good news; now the bad. Both vehicle flavors maintain good to excellent resale value. You will be paying more initially, even for used vehicles, but in the long run they will be cheaper than purchase of a new vehicle.

For a 2001 Honda Accord with all of the whistles and bells, the resale suggested by consumars guide was 6,000 to 8,000.

Now ask me how I know? My wife upgraded to an Odyssey and we have this wonderful Honda Accord for sale. Original owner, 140K, 6 with leather, moon roof, and all of the whistles and bells.

Great car.

Now back under my rock,

Spence, who would like to sell her car
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next

Announcements

TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Considerable Headwinds for Profire Energy?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement