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352

financing a depreciating asset

They can't even keep up appearances; i.e. I see luxury cars with accident damage driving around b/c they can't afford to fix them.

I have never financed a vehicle and every used vehicle I have purchased (with cash) I have sold for +/- 10% of what I bought it for, because I improve them. Never paid more than $5000 for a car.

> financing a depreciating asset They can't even keep up appearances; i.e. I see luxury cars with accident damage driving around b/c they can't afford to fix them. I have never financed a vehicle and every used vehicle I have purchased (with cash) I have sold for +/- 10% of what I bought it for, because I improve them. Never paid more than $5000 for a car.

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[–] • 1 pt

Just because you're poor doesn't necessarily mean you're frugal.

That's impressive that you managed to sell your cars for basically the same value. Age and mileage do a lot to reduce a car's value, so you must have made some significant improvements.