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braisler · 02-08-2005, 08:42 AM

I am glad that this thread is taking off. I particularly liked soundmotor's in depth analysis of what his car was actually costing him. I'd like to add a couple of more points on car ownership. As soundmotor pointed out, buy a used car instead of opting for new. Even if you are not mechanically savvy enough to inspect the car yourself, you can find a local mechanic to do a "pre-purchase" inspection, usually for around $50. You can't go wrong here. If the mechanic finds something major wrong, you are better off not buying the car. If the car is pretty ok, the mechanic will likely find at least some minor problems that you can use as leverage with the seller to ask for a lower price. "Yeah, you are asking $5000 for the car, but the blue book private party value is $4500, and the car has a leaky oil gasket that my mechanic estimates will cost $250 to repair. I still like the car and I am prepared to offer you $4300 today in cash." I have used exactly that phrasing any number of times, usually with good success.

Another point on car ownership as it applies to living below your means. Consider reducing the number of cars in your family. My wife and I share just one car. Now, I admit that we have the luxury of having of working at the same university. But many families have one car for every driver in the family. Every kid over the age of 16 does not need his own car. If you work, while your spouse stays at home, it might be an option for you to consolidate to having just one vehicle. It might translate into an occasional inconvience, but the cost savings are immense. My wife and I have been a one car household for almost 6 years now. I can count on one hand the number of times that we have had any kind of conflict over having just the one car. I haven't calculated the amount of money we have saved on insurance, fuel, and maintenance, but I am sure it is over $10K by now.

Ok, here's my all new tip for the day:

Garage sales are your friend! Most of us have seen garage sales as we drive around on the weekend, but few people realize the power your dollar can have at these secondary markets. It takes patience and a good eye for value, but I firmly believe that you can find ANYTHING at a garage sale if you are willing to look long enough. You can extend your search to include the classified ads in the paper. Following our last move, my wife and I refurnished our entire home for under $2500 mostly with garage sale finds. Many of you might be thinking, "Yeah, but it probably looks it. You've got shag upholstered chairs from the '70s clashing with a torn-up sofa and some broken, miss-matched lamps." Nope, you would never know that we got our furniture on the cheap unless we told you. I've been busy furniture this way for many years, and I have had some terrific pieces, name-brands like Lane, Laz-y-boy, Thomasville, all at very much less than the original price. I focus on furniture here, but you can apply the same idea to just about anything... sports equipment, car parts and accesories, woodworking tools, clothes, dog toys, whatever. It is the ultimate recycling and most people are very willing to negotiate with you. That could be a tip all on its own... Negotiate Everything. Even retail items can be negotiated if you know what you are doing, but the used market has much more leeway on what can be negotiated and how successful you'll be.

So the next time see a Garage Sale sign, swing on in. You might be surprised at what you find.

02-08-2005, 08:42 AM	#13 (permalink)
braisler Addict Location: Midway, KY	I am glad that this thread is taking off. I particularly liked soundmotor's in depth analysis of what his car was actually costing him. I'd like to add a couple of more points on car ownership. As soundmotor pointed out, buy a used car instead of opting for new. Even if you are not mechanically savvy enough to inspect the car yourself, you can find a local mechanic to do a "pre-purchase" inspection, usually for around $50. You can't go wrong here. If the mechanic finds something major wrong, you are better off not buying the car. If the car is pretty ok, the mechanic will likely find at least some minor problems that you can use as leverage with the seller to ask for a lower price. "Yeah, you are asking $5000 for the car, but the blue book private party value is $4500, and the car has a leaky oil gasket that my mechanic estimates will cost $250 to repair. I still like the car and I am prepared to offer you $4300 today in cash." I have used exactly that phrasing any number of times, usually with good success. Another point on car ownership as it applies to living below your means. Consider reducing the number of cars in your family. My wife and I share just one car. Now, I admit that we have the luxury of having of working at the same university. But many families have one car for every driver in the family. Every kid over the age of 16 does not need his own car. If you work, while your spouse stays at home, it might be an option for you to consolidate to having just one vehicle. It might translate into an occasional inconvience, but the cost savings are immense. My wife and I have been a one car household for almost 6 years now. I can count on one hand the number of times that we have had any kind of conflict over having just the one car. I haven't calculated the amount of money we have saved on insurance, fuel, and maintenance, but I am sure it is over $10K by now. Ok, here's my all new tip for the day: Garage sales are your friend! Most of us have seen garage sales as we drive around on the weekend, but few people realize the power your dollar can have at these secondary markets. It takes patience and a good eye for value, but I firmly believe that you can find ANYTHING at a garage sale if you are willing to look long enough. You can extend your search to include the classified ads in the paper. Following our last move, my wife and I refurnished our entire home for under $2500 mostly with garage sale finds. Many of you might be thinking, "Yeah, but it probably looks it. You've got shag upholstered chairs from the '70s clashing with a torn-up sofa and some broken, miss-matched lamps." Nope, you would never know that we got our furniture on the cheap unless we told you. I've been busy furniture this way for many years, and I have had some terrific pieces, name-brands like Lane, Laz-y-boy, Thomasville, all at very much less than the original price. I focus on furniture here, but you can apply the same idea to just about anything... sports equipment, car parts and accesories, woodworking tools, clothes, dog toys, whatever. It is the ultimate recycling and most people are very willing to negotiate with you. That could be a tip all on its own... Negotiate Everything. Even retail items can be negotiated if you know what you are doing, but the used market has much more leeway on what can be negotiated and how successful you'll be. So the next time see a Garage Sale sign, swing on in. You might be surprised at what you find.