Today I Learn… I make a point of learning something new everyday. This is what I learn each day

1, Mar 30, 2013

The savings of one-year used car

Filed under: Economy — admin @ 12:48 am

On 3/20, a friend of mine took my daughter to BMV to take written driving test. While waiting for her turn, my friend had a long chat with my daughter. Here’s what this friend told me of part of their conversation.

“When you grow up and get a high paid job, you will buy a BMW and can drive me around in your car,” my friend told my daughter.
“Sure, I will drive you, but I will buy a used car because it cost too much to buy brand new one,” replied my daughter.

My friend was impressed by her down-to-earth approach. Instead of boasting of spending big and chasing coolness like some young people that she knows, my daughter knows the saving of used car and the best of all, she doesn’t care about being pretentious.

I told this friend, “The cost of a new car runs at least $10,000 more than a one-year old used one when you combine the cost of car purchase, sale tax, annual registration fees, tax property, and insurance.” She was surprised to learn the savings of a one-year used car. I was surprised that she didn’t know all this.

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