Posted by Steve-WA on December 23, 2006 at 12:26:55:
the grilled stuffed enchilada is made for driving
ask me how i know
;-)3
Reducing expenses - Posted by Donna in AZ
Posted by Donna in AZ on December 22, 2006 at 14:01:10:
In an earlier post Tye had mentioned one way to make money is to spend less - so I started thinking about that.
I came up with the following. It will reduce my monthly expenses by $80, and give me $12K to invest in MH deals.
I have a 1999 sports car that is paid for, but insurance is high, it uses premium gas, and repairs are expensive.
I found that used cars are a buyers market right now - everyone must be spending their time and money on the holidays. I just found a nice 1999 Saturn with the same mileage as my car, blue book of $4175 that I am targeting to get for $2000 - seller is motivated. At that price I can probably drive it for 2 years and then sell it for what I paid for it.
My insurance will go down by $40 a month, my gas cost will go down by at least $40, and repairs will be cheaper. Plus, when I go look at MH’s I won’t be driving a flashy car any more.
If I wait until tax time (March) I can sell my car for retail $14K, leaving me with $12K.
It’s amazing how Lonnie’s books and this forum have made me look at money (and other things) differently.
Not sure if this will be helpful to anyone, but it’s exciting to me, so I wanted to share it!
Thanks,
Donna in AZ
Re: Reducing expenses - Posted by Chris
Posted by Chris on December 23, 2006 at 08:26:23:
I bought a Saturn wagon a few years ago, it’s automatic. I got 30 mpg with it, and it paid for itself in gas $$ I saved vs. driving my '88 Chevy Pickup. (Which at that time got like 11 mpg.)
My suggestion is as soon as you get the car, get a new timing chain put on it. Mine broke (ugh!!) which caused a little damage and the car is now parked, but I refuse to let it go. As soon as I get a little cash I intend to have it fixed simply because it was so easy to drive and got excellent mileage.
My only “complaint” about the car is that I am just so used to driving a pickup that I feel like I’m sitting about 2 inches off the pavement in the Saturn, and you can’t see that far down the road. If you can adjust to that difference a car like this makes excellent financial sense!
For now I’m still driving the '88 Chevy (with a new motor and now 17 mpg.) and it’s great for hauling luan, plywood, 2x4’s, etc. That’s also something that would be impossible in the Saturn.
Stick shifts are great, but I’m not nearly as talented as Michael when it comes to tacos and the phone, etc.! Driving an automatic I still end up with half the taco in my lap.
Have a great holiday!
Chris
Re: Reducing expenses - Posted by Daphne Lowe
Posted by Daphne Lowe on December 23, 2006 at 24:03:01:
I had a related, but slightly different realization earlier this year when I
was unexpectedly forced to go car shopping. I hadn’t bought a used
car since I was a teenager. Based on those early experiences, I thought
all used cars were junkers, and went the new car route. Until this year. I
knew that new cars take a big depreciation hit the first few years. I
learned that there are a bunch of folks who trade-in their vehicles
every 2-4 years, and these folks as a general rule, tend to take very
good care of their cars during their tenure. I discovered there are a lot
of nice, slightly used cars available for 20-40% off their original price. I
realized that I could drive a late model luxury car for the same price as
a new Hyundai.
Since its tax time, one more tidbit: there are several truck/SUVs
(
Re: Reducing expenses - Posted by Sailor
Posted by Sailor on December 22, 2006 at 15:29:49:
The ideas are all around us; sometimes we just have to open our eyes. Good going, kid!
Tye (who’s still driving her '92 Grand Marquis w/240,000 miles on it)
Re: Reducing expenses - Posted by Apg
Posted by Apg on December 22, 2006 at 14:12:18:
I have a 2000 Saturn with 120K. I bought it new. Get a 5 speed trans
and make sure that it has a time chain. Saves a ton of $$$$. Also
reduce you coverages. I carry the mid range…100/300/50. Also carry
only libility and increase you deducatables to the highest possible.
Our’s is $1000.
Re: Reducing expenses - Posted by Cole (FL)
Posted by Cole (FL) on December 23, 2006 at 15:09:00:
** Since its tax time, one more tidbit: there are several truck/SUVs
(
Re: Reducing expenses - Posted by Sailor
Posted by Sailor on December 23, 2006 at 07:40:49:
OMG, kid, did your Hummer bite the dust?
Tye
Re: Reducing expenses - Posted by Donna in AZ
Posted by Donna in AZ on December 22, 2006 at 14:19:11:
The 1999 I’m looking at has an automatic - are they problematic? Consumer Reports rated the 1999 pretty well, but didn’t mention anything about automatic vs 5-speed.
Thanks for any info -
Donna in AZ
Re: Reducing expenses - Posted by Daphne Lowe
Posted by Daphne Lowe on December 23, 2006 at 22:09:39:
No, that was result of the accident.
Re: Reducing expenses - Posted by Michael(KCMO)
Posted by Michael(KCMO) on December 22, 2006 at 18:29:54:
The difference is that a manual 5-spd will get better gas mileage than an auto trans. I love my little 5-spd Civic. It’s paid for itself in gas savings w/in the 1 1/2 years I’ve had it as compared to driving the truck. Now it’s all free money, baby, free money!
Benjamin Franklin was wrong, you know. A penny saved is not a penny earned. Considering an effective tax rate of about one third, A dollar saved is about a buck fifty earned. I like your new line of thinking, Donna. Are you single? 
Regards,
Michael(KCMO) (who has always found penny-pinching an attractive quality)
Re: Reducing expenses - Posted by Donna in AZ
Posted by Donna in AZ on December 24, 2006 at 19:47:32:
Michael - how flattering to have my cost cutting ideas found attractive - my ex-husband certainly didn’t feel that way (one of the main reasons it’s ex).
I think I’m going to go with the automatic - my current car has a stick shift, and I’m driving so much looking at parks an automatic would just be easier.
As of now I do have a special friend - otherwise I might just join that line Tye was referring to!
Regards,
Donna in AZ
Re: Reducing expenses - Posted by Sailor
Posted by Sailor on December 22, 2006 at 20:12:34:
I don’t disagree w/you, Michael, about the economy of a manual
transmission. Note however, there is a positive causal
relationship between driving skill & mileage $avings. If one does
not change gears skillfully & w/prudence, the mileage is c. the
same as w/an automatic transmission.
Ladies, since Michael has now placed himself on the block, let me
be the 1st to advise you to start lining up. If I had a spare single
granddaughter, he’d already be taken. Now if he just had a toter.
Tye
Re: Reducing expenses - Posted by Michael(KCMO)
Posted by Michael(KCMO) on December 23, 2006 at 06:08:55:
> If one does not change gears skillfully & w/prudence, the mileage is c. the same as w/an automatic transmission.
Perhaps, but a manual is much more fun to drive. This is especially true when you’re trying to eat a Taco Bell burrito (they ALWAYS make 'em so they fall apart on you!), restart the Stephen Covey CD, talk to Ruben on the cell phone, hold your drink between your legs and shift to second gear (b/c by now I’m up to 45 mph!) all at the same time!
OK, slight hyperbole . . but you get the idea.
Sorry, Tye - no toter.
Have a Merry Christmas,
Michael(KCMO)