The Road to Financial Freedom…

April 14, 2010

12 Comments

  1. Scott

    Matt,
    On the subject of vehicles. I often hit the 200,000 mile mark. Most of the vehicles I purchase (GM brand) have 130,000 when I purchase them. In purchasing these higher mile vehicles, I do not pay a premium for them , and I can sell them for a very low price to someone who just needs a work vehicle. My goal used to be to own the vehicle for 100.00 per month (not including gas or insureance.)I have had to up this to about 130.00 a month with higher used vehicle prices. I have owned several mini vans and Suburbans, with a few trucks too. I think the advice you’re giving is best for the general owner. Buy as low mileage car as you can afford and keep it, maintain it , and know when to say “sell it”.
    Keep up the good stuff!

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  2. Jan

    Thanks for the great article! My husband & I have always paid cash for our cars & never spent too much on them. So we never had a problem until we started having teen drivers & had to get cars for them. Even then God moved friends & relatives to give us cars (although some of the cars had some expensive problems!) Now we have pretty good used cars, just need to be encouraged to keep up that maintenance & not be hoodwinked by advertising & societal pressures. Great article!

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  3. Jane

    Our 1990 Chevy Lumina minivan died in Dec 2009 with 320,000. We really didn’t do a good job with maintenance. Don’t have a good explanation except a well-built car and God’s grace.

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  4. Jeanne Levrier

    I have a 1992 Toyota Camry that has 215,500 miles and is really a good car and looks good and runs well. I change the oil regularly using 20w-50w Syntec Castrol. I check the tires for air about once every two months. I used to be more faithful and check once a month. Perhaps I shall get back on schedule now that you have sent this excellent article. This vehicle was purchased new February 1992.

    Thank you for all you do to make life better for those who choose to be debt free. I just cannot bear to owe anybody anything as scripture tells us to “owe no one anything, but love”. Romans 13:8

    The gift of Salvation through our Lord Jesus Christ puts me in no debt, yet I feel so indebted to God for his indescribable gift to me.
    Blessings,
    Jeanne

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  5. Matt Bell

    Thanks for all the great comments, everyone. It really shows that lots of different cars are capable of lasting a long time if you just take care of them.

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  6. Ivan

    Like you said, standard maintenance seems to do the trick. We also never pushed the car beyond its boundaries (hard acceleration, met top speed on speedometer).

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  7. Ivan

    Great post, Matt.

    1988 Cadillac Cimmaron – 188k when it retired in 2004. 1990 Volvo 740 – 214k when it died in 2005.

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  8. John O

    92 Olds kept 7 years drove 200,000 no major engine repairs. 86 Camry 150k no major repairs and gave it to CARS ministry and it is helping a single Mom; 99 Intrigue 150k no major repairs and gave it to CARS ministry and it is helping a single Mom; This is definitely the way to go. Thanks, Matt.

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  9. Mitch

    My goal with all my used cars is to hit 200,000 miles. So far, for various reasons, the closest I got was 187,000 miles. However, that won’t deter me from continuing the goal because I personally hate car payments.

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  10. Henry

    I have a 2005 Volvo with 80,000 miles that I have very intention of taking to 180,000 miles. I agree with the earlier comment that our culture assigns value to people based upon what they own.

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  11. Jon

    1997 Jeep Grand Cherokee with 125,000 miles and because I work from home, I think I will have it forever 🙂

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  12. Paul

    I currently own a 1986 Toyota pick-up truck that I have driven 120,000 miles. People are always asking me when I’m going to buy a new truck. My reply is always the same: “Why should I? It’s paid off, my tags only cost me $65.00 a year and my mechanic says there is no reason why my truck can’t go 250,000 to 300,000 miles.” The key to keeping any car for a long period of time is regular maintenance and not being influenced by a culture that says your image is directly determined by what you own and how new it is.

    Reply

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