Jerry over at On the Fence Voters has put some things into perspective for us today, like “the good ol’ days”. I think you’ll find his analogies to be quite apt. Thanks, Jerry!
When my sons entered their teen years, we had “the talk.” No, not that one. Well, we did have that talk, too. But the talk I refer to now is the one about expensive products generally, and about cars in particular. This was my mantra-like advice to them: “Repairs are cheaper than replacement, and maintenance is cheaper than repairs.”
Fiscal Prudence Pays
My advice to them continued along these lines: “If you properly maintain a car—and pay for the occasional necessary repairs—you can expect it to get you where you need to go for at least 200,000 miles. And that means that if you drive the average number of miles Americans drive per year—13,500—you can expect to get nearly 15 years out of your car. Then, if your auto loan was for six years, that means you will have nearly nine years of payment-free driving. If you are fiscally responsible…
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