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To: TurboZamboni

Being in the Military, you should calculate your cost per mile including the finance charges.

In most cases, you will find out that you could rent a car cheaper than buy even a used car.

I was in the Navy, underway 295 days a year, make sure to calculate the cost per mile and cost per day based only on the days you might actually be able to use the car.

Also, add in the cost of hauling/storage during moves and such.

Do the math, it is a shame to loose 30% of the value just driving the car off the lot, make sure you include the loss in equity in your mat as well for the cost per day and the cost per mile for the first year.


52 posted on 04/01/2014 8:02:02 AM PDT by dila813
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To: dila813

Lets run through the math:

Buy a car - on terms, low down payment.

12,000 is your purchase price. 2-5% interest for 5 years.

Your first mile, its worth 6-7,000 dollars immediately losing value.
You then spend 2-300 per month + insurance (100-200) + gas.
so aprox $500 actual cost per month.

500 x 72 months.

You paid $36,000 out of pocket for something that will be worth 6000 dollars.

Any guess why Joes end up broke and in debt when they finish their service?

Buy an old junker car with four wheels, a roof and runs ok. Save the money for a few months you can find good cheap cars for cash in the $3000 range. It’ll mean lots of walking on post for the first few months, but in then end your car will be an asset to you by saving you money.

Get a hobby, stay busy...set some goals and focus on them.


57 posted on 04/01/2014 8:28:14 AM PDT by 1st I.D Vet
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