Скачать или смотреть How Cars Can Keep You Broke

Let's talk about how cars can keep you broke!

00:00 - My Vehicle
01:45 - Purchasing a Vehicle
03:18 - Tips to Reduce Cost Over Time
05:38 - Getting Ready for Next Vehicle
07:09 - Leasing a Vehicle
08:04 - Public Transportation

We all know that when you purchase a new car and you drive it off the lot you immediately lose thousands of dollars on it from depreciation. So if you try to sell it back to the dealer, they're not going to pay for it as much as what you just bought it for.

If you're going to purchase a new vehicle, I would plan to keep the vehicle at least 5 to 7 years at a minimum. That way you get the full life of the vehicle and financially it makes sense. You don't have as many maintenance headaches hopefully, but you're spending more money at the front end versus the tail end of the life of the vehicle. So the longer you can keep the vehicle and keep it running in good working condition the more money you're going to save.

Instead of buying new, I would suggest buying a used vehicle from a reputable dealer or someone you trust. The dealers call it a pre-owned or pre-certified vehicle and I like them because most of the time the dealers bring it in and run it through basic diagnostics. They make sure the vehicle is in good working condition and find any major issues before they sell it.

The next thing you can do to keep vehicles from keeping you broke is doing regular maintenance on them. If you know how to change the oil or change the brakes you can do that yourself; great! That will save you extra money because you're doing the labor yourself. I personally don't like changing the oil myself because you've got to dispose of oil in a certain manner so that way it's good for the environment. So I take my vehicle to one of the quick lube places that you can run in and out during your lunchtime. They're doing multiple checks like fluid levels, tire pressures, and like that. It costs me $40-45 bucks but for me, it's hassle-free and saves me time.

Next is tire inflation/pressure. As the seasons change, your tire pressure changes. It goes up and down based upon how cold or hot it is outside and usage. If you're not getting your tire pressure checked or monitoring it yourself then you're potentially wasting gas. If you keep your tires correctly inflated you're going to save money on gas and wear and tear on your tires. Properly inflated means the amount of rubber that's on the road is the right amount for that tire. Therefore, if the tire pressure is too low you're putting more rubber on the road which increases more friction which in turn forces your engine to work harder in order to overcome that friction. You will end up replacing those tires more often over the life of the car if you do not keep them properly inflated based upon manufacturer recommendations.

Another way for cars to keep you broke is to plan for the purchase of the vehicle and the associated expenses like regular maintenance and tires. If you were not able to pay for the full amount of the vehicle when you bought, then try to get it paid off as soon as possible. Once it's paid off, continue using a portion of your vehicle payment to start saving up for those maintenance items and regular maintenance.

If you get into the habit of putting away a little bit every month, say $50 a month for a year, that's $600 plus compounding interest that you'll save up. You'll be better off in the long run and these expenses won't be a surprise anymore.

Lastly, I want to give you my opinion on purchasing vs leasing a new vehicle. In my mind, you're wasting money on leases. Leasing works great for the dealers and great for the financing companies. They want you to lease a vehicle because it's a constant steady stream of income for the dealer and for the leasing company. It's great for them but not always so great for you.

Before you move on, ask yourself if you even need a car or vehicle? Is there public transportation in place that you can use, or can you walk or bike to where you need to go? If so, great! Use it so you don't have to spend money on a car. Save it up for other items or invest it. :)

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