CONVENTIONAL wisdom posits that a car is a poor investment, at least from a financial standpoint. It’s extraordinarily difficult to turn a profit, especially over the long term.
According to Carfax, the owner of a new car can expect the vehicle to lose 20% of its value in the first year and 10% annually thereafter. Beyond depreciation, owning a car involves fuel and maintenance costs, insurance premiums, parking fees, registration fees, tolls, sales tax,
LIKE SO MANY OTHERS, I’ll be working from home for the foreseeable future. But I know in my soul that we’re all going back—and I’m mostly okay with that. There are things I miss about the office: colleagues who have become friends, the collaboration, the access to ideas and creativity.
The biggest thing I don’t miss? Traffic. Nothing even comes close.
I live in Austin, Texas, which ranks tenth in America in terms of worst commute.
MONEY IS ONE of the most emotional issues we deal with. It can create both immense stress and moments of pleasure. I’m guessing the way each of us view money, and how we handle it, is as unique as our fingerprints.
My wife’s car of 14 years was kaput and headed for the junkyard. Fixing the wiring and computer on her 2006 Jaguar would have cost $5,000—far more than the car was worth, even though it was otherwise in very good shape.
MY FATHER WAS A CAR salesman. For the last 20 years of his career, he sold Mercedes and he was good at it. He even won a sales contest that included a trip to Germany to tour the factory.
Unfortunately, selling Mercedes does not mean you can afford one. But he did get to drive them. As a kid, I was also hooked. When I was 17, I was allowed to drive a 190SL in the local July 4th parade.
IN THE PAST, WE’VE always bought certified preowned cars. We know new cars lose a big chunk of their value when you drive them off the lot, so we had our eye on a used car when we started our search earlier this year.
Our goal was a Mercedes Benz GLC 300 AWD 4MATIC. My husband enjoys the negotiating and drama that comes with buying a car, so he investigated choices, checked out prices at dealerships and was ready to start his usual two-to-three-month car hunt.
IN MARCH, I DROVE off the Tesla lot in a new Model 3 with Ben Franklin’s quote in my head: “So convenient a thing to be a reasonable creature, since it enables one to find or make a reason for everything one has a mind to do.”
Elon Musk had just announced availability of lower cost versions of the Model 3. After eight years of waiting for a Tesla that would cost less than my first home,
OKINAWA IS a Japanese island that is southeast of mainland Japan and about two hours and 40 minutes from Tokyo by plane. It is famous for fierce Second World War battles and currently houses about 26,000 U.S. military personnel. From 2006 to 2008, I was one of these military personnel, working as an emergency physician in the naval hospital.
Okinawa, my new dream come true. Going to Okinawa was not my first choice.
CAR BUYING CAN BE overwhelming, which partly explains why we held onto our 2002 Toyota RAV for as long as we did. When the time came to part ways, we needed to decide whether the replacement would be new or used, how much we were prepared to pay, the features we wanted and what vehicle would meet all our criteria.
These were relatively easy tasks. While I realized that purchasing a used vehicle made more sense financially,
HAVING RECENTLY lost several people, I was in a bit of a daze. Grief stopped me from doing some of the things that brought me incredible joy, like downhill skiing and whitewater kayaking.
Enter Sheila.
Being the Swede I am, I fell in love with Sheila—my gently used Volvo AWD V60 sedan. My attraction to Volvos included family nostalgia, safety and longevity. The dealer was a friend of my aunt, so I was able to negotiate a very reasonable price,
LIKE MOST PEOPLE, owning a car is my second largest monthly expense, right after housing. But unlike a lot of people, I also strive to be a super-saver, loosely defined as folks who max out their retirement accounts each year. That means I’m constantly looking for ways to cut my transportation costs.
Four years ago, when I found myself needing to buy a car, I settled on a gently used Honda CRV. Even though it was nearly six years old when I purchased it,
I’VE LIVED IN BIG cities for the past six years—Cairo most recently and St. Louis before that. During that time, I’ve enjoyed inexpensive public transportation and nearby groceries. I never felt the need to buy a car, and it never made sense. But since moving to New Haven five months ago, my calculations have changed.
For the first time since high school, I’m back in the ‘burbs. I can walk or bike to class and to friends’
I JUST PURCHASED a 2013 Honda CRV. I told the “sales consultant” that I was paying cash. He tried to convince me to take out an auto loan, but I explained that borrowing at 3.4% didn’t make sense when I had cash in a savings account earning 0.25%.
Next, he asked whether I had ever considered leasing. I replied that leasing can make sense if you want to drive a new car every three years—but getting a new vehicle every three years was an expensive habit and I planned on keeping the car far longer.
