Posts tagged as:

Cars

How (and where) to donate your car to charity

01.11.2010 by Bob 5 comments

A few years ago we donated our car to charity after the transmission went out on our old Mazda 626. The car was worth about $1500 in good working order, so when the transmission went out, we decided to cut our losses and just say goodbye. While we haven’t donated any more cars to charity, I have since learned a little bit more about the process and some things to avoid…

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Making money buying and selling cars

01.09.2010 by Bob 14 comments

Everyone knows that cars are almost always a depreciating asset. You pay $20,000 for it and drive off the lot and it is worth $18,000. A year later it’s worth $14,500, and a few years later it’s worth $3500. This is the common story for most cars. And with the American obsession to spend so much of our income on our transportation, I am convinced that cars greatly affect our financial freedom. So with so many people losing money on their car purchases, how could you possible make money with cars?

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How I used a 3rd car to prevent financial catastrophe

10.19.2009 by Bob 16 comments

As some of you all know my car had to be put to sleep a few months ago. I am not really sure why I am just writing about it now – maybe because the grieving period lasted this long?
But anyway, it’s passing marked a significant point in my financial life: It was [...]

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How to get the best price on a rental car

10.14.2009 by Bob 7 comments

My sister’s destination wedding is taking place in a few weeks and until last night we still hadn’t nailed down which car rental company we were going to use. But at about 10:30 pm last night we pulled the trigger and finalized our rental car plans.
I should also mention that while I know there is [...]

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Cash for Clunker’s Results: U.S. cars traded for Asian cars

08.25.2009 by Bob 11 comments

Consumer Reports just published the most popular Cash for Clunkers cars during the program. In the article they listed the top 10 Clunkers trade-ins:

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When should you replace your old car?

08.18.2009 by Guest 12 comments

The difficulty with owning an old car is that it usually takes a lot of TLC and regular repairs… more and more people are ditching their beaters for new cars.

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Cash for clunkers has gone away!

07.31.2009 by Bob 7 comments

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Cash for your clunker stimulus bill

06.21.2009 by Bob 14 comments

The House just passed the Cash for Clunkers stimulus bill. Here are some of the details that we can expect to see in it when the president signs it…

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How do you pay off a car?

06.15.2009 by Bob 13 comments

It really is possible to pay off your cars – and it puts you at a huge financial advantage!! These are the steps we took to pay off our cars…

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Money Mistake #1 – Paying too much for a car

03.17.2009 by Bob 6 comments

It is obvious that overpaying for something isn’t a good idea, but with cars it is especially a bad idea. The reason is that cars are depreciating assets, so if you take a loan out for your purchase, you immediately enter into a race to pay the car loan down faster than the value drops. In my case with the convertible, I did a lot of things that ensured I was going to lose this race…

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Should you buy a used car or new car?

02.17.2009 by Bob 15 comments

It is one of those things that I think most people realize buying a used car is a better idea for their finances, but don’t understand the scope of it. Dave Ramsey’s critics often belittle his math on his “drive for free” method, but even if the numbers are a little generous, the same principle still applies – owning a depreciating asset is a bad move, but paying interest on a depreciating asset is a really bad move! Since I started this site I have written a bit about how you can save money by buying used cars and how they affect your financial freedom .

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Is it your job to prevent the Big 3 from going under?

12.17.2008 by Bob 21 comments

As my radio alarm clock was playing this morning I heard a Chevy commercial with the dealership owner all basically begging people to buy American cars. I have a few thoughts about the Big 3 bailout issue. I don’t claim to know all the details of exactly what’s going on with the whole thing, so please feel free to share your insight in the comments below.

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Converting my car to a water powered hybrid (part 2)

11.19.2008 by Bob 9 comments

Welcome to the second episode of me trying to convert my car to run on water. I know it has been a long time since the first episode, but we have encountered some obstacles, the biggest one being that my team-mate and I don’t have as much time to work on the project as we would like. So rather than knocking it out in a few weeks, like so people do, we spend a few hours every month or so. But hey, I got patience, I can wait. And now that gas prices are so much lower, I am in no rush at all.

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How cars affect your financial freedom

11.04.2008 by Bob 18 comments

I had a revelation about cars that has caused me to not really care what mine looks like. It’s not that I don’t want a really fast car, it is just that there is something I want a bit more: financial freedom.

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