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Old 02-03-2015, 07:20 PM   #13 (permalink)
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Originally Posted by darcane View Post
He still has $7000 to pay on the Cruze, plus interest. I assume that is the money that could be invested...

That will go a long ways towards maintaining the old car. Plus, with no loan, he is not required to have full coverage insurance for further cost savings.

I had car payments once and hated it. Loans on rapidly depreciating assets are awful financially. Never again.

That said, maintaining old cars is certainly not for everyone.
Good point on the full coverage insurance savings thats what another 1k per year?
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