Originally Posted by
Eggman
Congratulations dspace9 on reaching this milestone. Just imagine how your savings account will grow. You can now save your money to buy your next vehicle outright without borrowing money and paying the interest on the loan. That’s winning twice.
Dspace9 - Much respect to you. I actually think your car (our Mirage's in general) looks somewhat tough, with the steel wheels uncovered. I don't know what it is. They look like a junkyard dog, rough and tough. But whatever. Glad to hear your car seems to be in great shape after 85 months. That is impressive, especially in your neck of the snow. I sometimes consider selling my truck and just making the Mirage to fully be my little truckster. Pulling my little 5'X10' trailer, I could haul as much as I think I would ever need to. I believe it could get the job done. But I've got a 20+ year love affair going on with my truck and it's been paid for, for 18 years ... why sell it?
Eggman - Tis a matter of perspective. Taking $12k and dumping it on a car could be considered an unwise move (it's what I just did). When I could have let my $12k remain invested. I generally make 12% or greater per year on it. And what are car loans these days? 5%? I haven't had a car loan since ... 2009 or 2010. I'd rather pay 5% and earn 12%.
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View my fuel log 2020 Mirage ES 1.2 manual: 42.5 mpg (US) ... 18.1 km/L ... 5.5 L/100 km ... 51.0 mpg (Imp)