O'Connor: Roadmaster's end puts savings plan in gear - The Detroit News
It’s been a momentous week in the Funny Money household, thanks to the fact that my (t)rusty 1995 Roadmaster Estate Wagon — aka “The Deerslayer” — turned 200,000 miles on the odometer. Despite achieving this milestone, the Roadmaster is definitely on the downhill side of its life, but not because parking on an incline is the only way it starts. The problem with a 20-year-old car is the years. And once the car hit 15 years of age, replacement parts became as rare as Faberge eggs — and nearly as expensive. My goal is to coax another eight or nine months out of the Roadmaster to keep the Funny Money family transportation plan on track. Funny Money something we could pay off in 36 months, then bank that payment for a year or two as the down payment for the Roadmaster replacement. After that new(er) vehicle is paid off, we’ll save the cash to eventually replace her car. The goal is to always have one newer, dependable car while making only one car payment. Paying off a car in three years then banking the payment while you drive the vehicle to death is a way to amass a consistently bigger down payment over the purchase of two or three vehicles. Source: www.detroitnews.com
