Why you should save instead of spend!

ill see if i can find the jd powers article..
 
I still have my 1993 Saab 900s bought with cash as one of those "dealers" cars with only several hundred miles on it. I know that here with gas at $6.50/gallon, I'd be 'better off' with a tiny car like a Mini Cooper, a Smart car, or a Lancia Y.. the small Alpha Romeo is also singing its siren song. Parking for me is an issue now: I feel like a big white whale.

But the Saab at 13 y.o. has less than 50,000 miles on it, so at this rate I may be stuck with it for the rest of my natural life.  Which reminds me: I need to look into a new headliner before I quit being able to see where I'm going. No extraordinary maintenance except for a re-conditioned alternator so far, knock on wood.

It'll take a lot of gas even at $6.50/gallon to make up for a $15-20k new car, but insurance here is also a bitch.. it's mostly based on the car's "power" in KW rather than age and condition, and being just over the price point I'm paying punitively high insurance rates, something like $1200-1500/year which could probably be reduced by at least a third.. which could help pay for a new.. something! I think about it every time I have to pass up a parking space.   Ah well, maybe when the dollar rebounds!

But if I were still in the US I would never even THINK of a new car! I love my Saab hatchback! I could live in it if I needed to with its 6'  long cargo area and it's super-safe..

crop-crash.jpg


This isn't my car, thank Heaven. (I admit to stealing this pic from a random blogger -- "fair use" to promote all that is great and Saab! The guy's only injuries were scratches from where his glasses got pushed up onto his nose, and it was an SUV that hit him). I did have a Volvo broadside me in a '91 900s; the point of impact was behind the right front wheel and the whole side was bashed in -- the car was totaled but I was fine.. most any other car and I'd have pins in my right leg at the very least. I called the dealer the day after I got my insurance check and bought the exact same model over the phone.  :D
 
I think I crashed the market :D!

You know that old saw about knocking on wood? Since I started this thread, commenting on how nice it was that my investments were working hard for me and making me so much money, I have lost three cars worth of net worth. Ouch. The market giveth, and the market taketh away.

Unfortuntely, this is the kind of stuff that keeps people out of the market, and pushes others to pull out when prices are low. Oh well, I am still up for the year (I think). How low can we go?
 
Depends on whether you're short on anything. You might do somewhat worse than zero. ;)

Still intrigued by the dynamic that has people run for it when things go on sale and try to pile in when things are marked up.
 
i find that equities carry sufficient risk per se ... no desire to add more.  (there is, i suppose, at some point a fine line between investing and gambling.)
 
ladelfina said:
It'll take a lot of gas even at $6.50/gallon to make up for a $15-20k new car, but insurance here is also a bitch.. it's mostly based on the car's "power" in KW rather than age and condition, and being just over the price point I'm paying punitively high insurance rates, something like $1200-1500/year which could probably be reduced by at least a third.. which could help pay for a new.. something! I think about it every time I have to pass up a parking space.   Ah well, maybe when the dollar rebounds!

This isn't my car, thank Heaven. (I admit to stealing this pic from a random blogger -- "fair use" to promote all that is great and Saab! The guy's only injuries were scratches from where his glasses got pushed up onto his nose, and it was an SUV that hit him). I did have a Volvo broadside me in a '91 900s; the point of impact was behind the right front wheel and the whole side was bashed in -- the car was totaled but I was fine.. most any other car and I'd have pins in my right leg at the very least. I called the dealer the day after I got my insurance check and bought the exact same model over the phone.  :D

One way to think of your higher insurance is that you are actually buying real insurance, on your life and well being. That must be worth something. It sure looks like the Saab comes through when you need it too.

Ha
 
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