How to Save Money on Cars #1

“Two researchers, Tom Stanley and Bill Danko, are leading experts on how to become rich.  In a recent study of millionaires they ‘...found that 37% of millionaires buy used cars...They let somebody else swallow the depreciation of a new car, then they drive it for years.’

 Eric Tyson, author of Personal Finance for Dummies  insists that the best way to buy a car is to pay cash.  By holding onto existing cars for as long as possible, he suggests that consumers can take the money they would have used to make payments and put it into savings until they have enough cash for another car…  Sometimes you may have to lease or purchase a late model car for business.  Cal had to do that, but the family car was always a used car.”*

 *From Quit Your Job! You Really Can Afford Stay at Home Parenthood (full of unique money saving hacks)