This is true. In my planning, I am allowing for a new car every seven years. But in reality I hope to do it differently. I have a brother in the car business. He and his partner buy up used cars and auction them off. They know cars. He tells me that if you know what you're doing, it shouldn't cost anything to own a car and I plan to follow his strategy soon (my parents already do this). It involves buying a well equipped car that is a few years old, driving it for several thousand miles and for 6 -8 months, and then selling it and getting another. There are other details that involve timing the sale, knowing which models this will work with, etc. (It also helps to know someone in the business who has the wherewithal to sell your car and snag another.) But he claims that if done correctly you can drive a car for nothing, and usually you will actually sell it for a little more than you paid for it. So I plan to enlist his assistance in ER. I'll do some bookkeeping and investing things for him in exchange for him keeping me supplied with a car. I'll pay for the first one and he will take care of the rest. We'll both benefit.
He claims anyone can do this, but I suspect he underestimates the value of his knowledge of the business. Nevertheless, I'll get more details from him and post them.
