The End of the Oil Age
geekstreak quotes "'The Stone Age did not end for lack of stone, and the Oil Age will end long before the world runs out of oil.' Ways to break the tyranny of oil are coming into view. Governments need to promote them."
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I have a buddy that will only buy cars with 100K because he "wants to make sure they could go that far" Maybe his jokes sound better when delivered in person. :-)
I do pretty much the same thing. I drive a 11 year old car with 180K, got 4 years ago for $2500 and probably put another 2K in repairs/maint over the years, putting my annual driving cost at about 1K/year. Pretty good. Compare this with a new car at 20K with 50% depr over the first 4 years.
And there's other savings too:
- The insurance is a whopping 450 annually; new car insurance would be at least double that.
- No finance costs. Even if you paid cash for the new car, you'd loose interest on the money you could have invested.