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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 310153  
Subject: Re: My First Auto Loan Date: 3/7/2009 7:35 AM
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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
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