Comments on: Money Mistake #1 – Paying too much for a car http://www.christianpf.com/paying-too-much-for-cars/ Christian Personal Finance - Financial help, debt help and other financial resources Sat, 21 Nov 2009 05:30:02 -0600 hourly 1 By: #035 — Links O’ The Week | MyMoneyMinute.com http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-11058 #035 — Links O’ The Week | MyMoneyMinute.com Sun, 29 Mar 2009 14:54:23 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-11058 [...] Christian Personal Finance talks about Major Money Mistakes: Paying Too Much For A Car. [...] [...] Christian Personal Finance talks about Major Money Mistakes: Paying Too Much For A Car. [...]

]]> By: Bob V http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-10763 Bob V Tue, 17 Mar 2009 21:56:33 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-10763 When my wife and I made the commitment to be debt free, one of our first "rules" was never to buy a new car and always to pay cash for one. We are fortunate to have a deacon in our church who has a body shop and has always worked with us to get a good used car, low mileage, and he is one who stands behind the cars he fixes and sells. One website to check for a history of a used car is: http://www.nmvtis.gov/ While it doesn't cover every state, it can be helpful. When my wife and I made the commitment to be debt free, one of our first “rules” was never to buy a new car and always to pay cash for one. We are fortunate to have a deacon in our church who has a body shop and has always worked with us to get a good used car, low mileage, and he is one who stands behind the cars he fixes and sells.

One website to check for a history of a used car is: http://www.nmvtis.gov/ While it doesn’t cover every state, it can be helpful.

]]> By: denise http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-10759 denise Tue, 17 Mar 2009 18:46:04 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-10759 I completely agree. It's best to never buy a new car. Get something a couple years old and save a bunch of money. I completely agree. It’s best to never buy a new car. Get something a couple years old and save a bunch of money.

]]> By: Jason @ MyMoneyMinute http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-10754 Jason @ MyMoneyMinute Tue, 17 Mar 2009 17:48:42 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-10754 Great advice. My mistake was a 2000 Nissan Maxima, with leather interior and premium sound. It was a year or two old and cost $18,000. Not too bad until you factor in that I was racking up debt in law school and making about $26k/yr working full time. It's paid off now, and I still drive it. 185,000 miles and counting. At least I'll turn the mistake into a long-term benefit of some sort! Great advice.

My mistake was a 2000 Nissan Maxima, with leather interior and premium sound. It was a year or two old and cost $18,000. Not too bad until you factor in that I was racking up debt in law school and making about $26k/yr working full time.

It’s paid off now, and I still drive it. 185,000 miles and counting. At least I’ll turn the mistake into a long-term benefit of some sort!

]]> By: Charles http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-10752 Charles Tue, 17 Mar 2009 17:05:55 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-10752 Thankfully I never realized until down the road a bit how easy credit was to come by. Seems like car debt is a cyclical trap in that you are unable to save up for a car because you are being drained with a car payment, and then it's time to get a new one and you only have enough for maybe a down payment. At least the savings rate is up to a whopping 5%, which is 5,000% higher than it was a year ago! Kind of crazy. Thankfully I never realized until down the road a bit how easy credit was to come by. Seems like car debt is a cyclical trap in that you are unable to save up for a car because you are being drained with a car payment, and then it’s time to get a new one and you only have enough for maybe a down payment.
At least the savings rate is up to a whopping 5%, which is 5,000% higher than it was a year ago! Kind of crazy.

]]> By: Matt Jabs http://www.christianpf.com/paying-too-much-for-cars/comment-page-1/#comment-10741 Matt Jabs Tue, 17 Mar 2009 13:59:31 +0000 http://www.christianpf.com/paying-too-much-for-cars/#comment-10741 Heed this advice folks. You can either learn to go without by choice...or later by force. If you don't discipline yourself now you could very well wind up bankrupt quicker than you may realize. Matt Jabs Heed this advice folks. You can either learn to go without by choice…or later by force. If you don’t discipline yourself now you could very well wind up bankrupt quicker than you may realize.

Matt Jabs

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