One year I was looking for an older model Lexus because I knew those cars would drive for 250,000 miles effortlessly. I saw a Lexus advertised in the classifieds, and I drove about 30 miles to see it. The car was beautiful and drove perfectly. It had about 120,000 miles on it, and the timing belt was recently changed. Cha-ching! The owner of the car and I then went directly to my bank and finalized the transaction inside the bank. I paid about $3600 cash for the car and drove it another 120,000 miles.
In the area we lived at the time, many wealthy people would sell their cars so that they could buy the newest and latest models. Cars to them were a status symbol. Their old cars were the ones that I would buy. I would pay cash for them because, at this point in my life, I was debt-free, had savings, and didn’t want to purchase full-coverage insurance. The money I saved was incredible...[Read More]