Re: are you on the car payment merry-go-round?
As I have posted elsewhere we have just bought as "new to us" second hand car. It has 73,000 and we plan to upgrade when it reaches 200,000 or there abouts. Means we will have this car for over 10 years. We average about 10,000kms a year.
Payments are $240 a month over 5 years. At the end of this time I will still keep up the payments but instead go into a high interest savings account. Hopefully this should mean we will be able to pay cash for our next car. Should have done this with the old car but didn't. Oh well can't go back now.
|