Nice Wheels!

I am not a car expert. However, buying a car can be a big financial decision, particularly during retirement. Some questions that typically come to mind include: How much should I spend? Should I finance a car? Where should I pull the money from if I don’t use a finance option? Given these frequently asked questions, I want to devote this e-newsletter to advice regarding car purchases.

How Much To Spend

I think the best way to decide how much to spend on a car is to consider what it really will cost you, instead of the actual payments. For example, you are looking at a new car that costs $40,000 and you will probably drive it for five years and then sell it for $10,000. So you will spend $40,000 - $10,000 = $30,000. Then, add to that the amount i