I'm curious how some of you save for a car you know you'll need in four, five, six, seven, etc. years. In a few months we'll have our 2006 4Runner paid off and the other car a 2000 Saturn something-or-other has been paid off. We'd like to keep cars for ten years or until they die on the side of the road.
Do you invest in a separate account for your next car? Simply take it from cash reserves and then replenish that over the next few years? Or something else entirely.
I tried to do a search in the archives to see if this had been discussed, but couldn't find anything.
Thanks in advance,
GB
Do you invest in a separate account for your next car? Simply take it from cash reserves and then replenish that over the next few years? Or something else entirely.
I tried to do a search in the archives to see if this had been discussed, but couldn't find anything.
Thanks in advance,
GB