Commentator wrote:
>
>> Ride a bike. Car pool. Lots of alternatives to owning a car yourself. >>
>> Lifestyle choice all the way.
>
>You obviously have no idea of the variety of circumstances in which
>people in the US find themselves. Open your eyes.
>
>
>Jack
Being self employed I need to get to customers' sites with tools and equipment on a regular basis. The stuff is not heavy, but bulky and expensive/sensitive (think computers, printers, network equipment, etc) - not something to haul on a bicycle, throw in a taxi, or put in the box of a big deisel pickup. However, there are many times where something like a Honda FIT or a S.M.A.R.T. would not be adequate. Even a normal passenger car is not ideal, so I have been driving MiniVans for the last 20 years. I definitely look at the purchase of a suitable vehicle as an investment. And I can tell you one thing for ABSOLUTE CERTAIN. My INVESTMENT in my vehicles has paid of WAY better than my investments in the financial marketplace (stocks/bonds/GICs, and Mutual Funds). Over the lat 20 years they have averaged less than 7%
My van was at the point of needing replacement or significant repairs.
I decided to INVEST $1600 and a few hours of work to keep the van on the road for (hopefully) a couple more years.
For me, a NEW vehicle would be a poor investment. Invensting in a vehicle that would double the fuel mileage I now get would also give a poor rate of return ($16000 instead of $1600 to save no more than $20 a week - you do the math. The new vehicle would be worn out before it would save me the difference in cost.
Some day I will NEED to replace the van (if I don't end up retiring before I wear it out one more time) and then I'll look for something that uses less gas at a decent price. (currently a 3.8L Pontiac with
360,000 km on it)