That "new car" smell, smells...........from Rico

Criminy!

 

Equifax says that the average US new car payment is now $525 per month, and the average new car loan is for 6 years [for graduates of government-run schools read: 72 months; think: $525 x 72 = $37,800].

- Yiiikes!

 

And by the time you've paid-off that car, after depreciation, it's worth maybe $3-4,000? 

 

Anyone lucky enough to be driving a paid-for car would be "nuts" to buy a new car today.

- Six months of payments at $525 will not only pay for a LOT of repairs to a used car, it will pay for almost anything that can ever go wrong with a used car.

 

What are the odds that something will go wrong on a car you're already driving that will cost you $525 per month, every month, for six years?

- Think of it this way: If your car is paid-for and nothing goes wrong, you 'bank' $525 per month instead of what you'd have to pay every month for a car loan.

 

One of the wealthiest men in the world, the owner of Ikea, drives a 10-year old Volvo.

- The man is not stupid.