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Old 02-04-2015, 01:53 PM   #20 (permalink)
Fat Charlie
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Join Date: May 2011
Location: Route 16
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Al the Third, year four - '13 Honda Fit Base
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Originally Posted by spacemanspif View Post
What money? He is planning (hoping) to sell the Cruz for $10.5k, use the money to pay off Cruz and take the rest to buy a Honda outright. Leaving little, if anything, left to be invested.
The money that he's currently giving the bank every month. At the moment he has a car and has to make monthly payments on a loan with $7k in principal. After this swap he'll own a car... and not have any payments to make. Other costs will go down too.

That's not even a wash, it's a win. If he can sock away that same payment every month then instead of disappearing into the car he already drives, it'll be a pile of cash that he owns outright. It can go towards repairs if needed or eventually turn into a newer car, a pretty nice trick.

Or he can keep writing a check every month for the Cruze.

Originally Posted by sheepdog44 View Post
Transmission type Efficiency
Manual neutral engine off.100% @MPG <----- Fun Fact.
Manual 1:1 gear ratio .......98%
CVT belt ............................88%
Automatic .........................86%

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