Quote:
Originally Posted by timun
I think where I save a lot of money—or rather, just don't spend as much in the first place as many others—is driving the same beater car I've had for 15 years. I haven't had a new car payment since 2014.
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I don't think it can be understated how much getting into a new/used car(s) every 3-4 years contributes to the destruction of personal wealth. Losing 20-30K (on a moderately price vehicle) in depreciation every 4 years is incredibly expensive, but lost on so many in my circle of friends. Luxury German vehicles in particular....
Buy something reliable, keep it 10+ years, rent a truck if you really need it 5x a year. Avoid debt if possible.