Cars

The average price of a new car is $48,000. A new car is not something for the average working family man. Cars these days will last go 250,000 miles and last for 20 years. The regular person should buy a car that is five years old and keep it for 10 years and then buy another five year old car. Throughout the persons life they will buy 5 cars owning each one for 10 years. Here is an example assuming interest free five year loans. A new Ford Explorer cost $46,000 and in five years it is worth $32,000. Five cars at $32,000 per car is $160,000 over this persons life time. The person who buys a new car every five years will spend $46,000 times 10 cars or $460,000 in a life time. This is a $300,000 savings money that can be used for family needs. If you add in interest on loans the savings on used cars is much greater.