Comments on: Cars are Underrated

By: Roger

Roger — Fri, 02 Jan 2009 03:23:01 +0000

I’ll be car free by the end of this year. My car will be paid off by November of this year, and I plan to even hasten that with double payments here and there. When I send in my last payment, I’ll be sending the car to my brother and his family. They need it more than I do. Frankly, I’m not sure why I purchased the darn thing. Though I live in a suburb of Miami, public transportation is relatively plentiful, and I can still walk to the grocery story, my barber shop, my dry cleaners and my friends’ and family’s homes. I also bought a wonderful bicycle two years ago that I use at least once a week for transport (as opposed to using it for leisure). So, I think cars — period — are, in fact, overrated. I think computers are underrated, but definitely not cars. Overall, they cause more damage to society when you think of it.

By: Michael

Michael — Thu, 18 Dec 2008 18:22:57 +0000

These are all great financial – and environmentally friendly – examples. I’m liking both of those trends, though I doubt GM would agree.

By: Dan

Dan — Wed, 17 Dec 2008 16:30:58 +0000

I am with you. I recently moved to a city and have decided to go “car-less”. With my wife, infant daughter, and I, it is sometimes challenging, but we own a car seat and rent a car when we need it. With new rental cars, we get a relatively new car every time with no maintenance issues. We also have been using the city’s “Car Share” service.

I’m not sure how long we can make being “car-less” last, but it’s been 3 months so far!

By: Scott

Scott — Tue, 16 Dec 2008 16:22:17 +0000

I agree that most people don’t understand the true financial impact of car ownership. I’m lucky enough to live in a dense urban area with access to subway and bus. I ride my bicycle year-round and am a member of a car-sharing service, Zipcar. Not only do I drive smarter (and way less than when I owned), I’m saving a ton of cash. Car-free and saving money since 2004..

By: TStrump

TStrump — Fri, 12 Dec 2008 01:52:10 +0000

I own a 1993 Ford Tempo and it suits me just fine.
It has low mileage and is super cheap to run.
I think having car payments is a waste of money.

By: Michael

Michael — Thu, 11 Dec 2008 14:25:55 +0000

@Slinky: Well put!

By: Slinky

Slinky — Wed, 10 Dec 2008 23:16:23 +0000

Both. Underrated by the personal finance community and overrated by people who buy expensive cars just to impress people. I just bought a new car….but I bought a CHEAP new car (Scion tC). Personal finance is all about priorities, compromise and balance. I spent some serious money on a car, but I also am on track to be debt free(except mortgage), have a very classy wedding paid for by me and him and purchase a home within 5-6 years. I do this by keeping expenses low and almost never impulse shopping.