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Sometimes when you’re driving in traffic, you’ll feel more on edge because you don’t want anybody damaging your car.If you are within 1/10th of your income, you drive and park stress free. The nicer your car, the more you want to spend on other things.Don’t trade it into the dealer because you’ll get railroaded. For the life of your car loan, take away a food you love to eat such as chocolate.If you are a coffee addict, swear never to drink that stuff again!Above you’ll find links to downloadable editions of the text of Little Brother.These downloads are licensed under a Creative Commons Attribution-Noncommercial-Share Alike license, which lets you share it, remix it, and share your remixes, provided that you do so on a noncommercial basis.In 2009, I watched in horror as a total of 690,000 new vehicles averaging ,000 each were sold under the Cash For Clunkers program in 2009.
When you add everything up, I’m pretty sure you’ll be shocked at how much it really costs to own a car and hurl. Spend no more than 1/10th your gross annual income on the purchase price of a car.
This is the simplest solution if you’ve spent too much.
Drive your car for as long as possible until the market value is worth less than 10% of your gross annual income. If you’ve spent anything more than 1/5th your gross annual income on a car, I’d sell it. Even if you have to take a little bit of a hit, I think it’s worth getting rid of your vehicle. If you don’t punish yourself, then you will repeat your mistake and feel fine with what you have now.
Don’t expect the government or your rich Uncle to bail you out.
1) Maintenance costs: The more you drive, the more you will pay to maintain your vehicle.