How Effective are you at Cost Savings?? Take the QUIZ!!!

Originally Posted by Malyatha

There are different opinions on this. Many experts (including Thomas Stanley, author of "The Millionaire Next Door") state that it is cheapest to buy a gently-used, low-mileage, 3-yr-old car and then run the vehicle into the ground. A new car depreciates the second that you drive it off the lot and the depreciation is steepest in the first three years of life. If you buy a well-maintained, low-mileage, 3-yr-old car, you avoid depreciation, have few (if any) maintenance issues, but still have a lot of years left on the vehicle, which, in time, may turn out to be the cheapest possible option.

Mals

I totally agree with you on this point....I too bought a 1 yr old preowner car...it looks and smells new but just that I didnt pay the price of a new car.... good deal and it still has warranty for few more thousands of miles

I totally agree. Let someone else pay the retail price and pick up a bargain at 3 years. One reason to do this is there are many leases that expire at 3 years and so the dealers have a lot of inventory that is 3 years old. We did this one time and we are still driving the car....12 years later! Runs like a charm and the price we bought it for was 55% of the original selling price.

I don't get the idea that you buy a car every two or three years. What for, style? I have enough self confidence that I don't need to tie it to my car.

My cousin took this. Same result, she got a higher score than her husband. I guess the ladies are keeping the costs down more than the men.

Originally Posted by Cali233

My cousin took this. Same result, she got a higher score than her husband. I guess the ladies are keeping the costs down more than the men.

I think we scratch our brains and stick to internet...to get the best deals possible..

Kudos to your cousin...thank you for the update Cali

My Score:

Congratulations, your score is: 34


You're only slightly cheap! You scored between 20 and 39 which is at the lower end in terms of cheapness. There are very few things that you are cheap on and many that you have lots of room for improvement. You really have to ask yourself why you aren't cheap. If you have loads of money, then you may be just fine, but if you don't you have some serious work to do. Need a little inspiration, why don't you read our Primer on Living Cheap. It might just cause you to start heading down the cheap path today. If living cheap has a negative stigma for you, you should definitely read it today.


--Sree

Originally Posted by sree3

My Score:

Congratulations, your score is: 34


--Sree

No worries Sree!! you know now...where to cut down expenses incase if you want to....