How to Drive a Mercedes Benz instead of a Hyundai
March 27th, 2007 |
This article is part of the Million Dollar Savings Club. If you’re not familiar with it you can learn more here.
Well we’re a quarter of our way through the New Year. Hopefully you’ve been able to let your automatic savings account build and build. I know things in life come up. Sometimes you’ll need to use the money you’ve saved. After all that’s what it’s for. But let’s see where everyone stands:
Bronze Savers ($25/wk) - $325.00
Silver Savers ($50/wk) - $650.00
Gold Savers ($100/wk) - $1,300.00
I’m a Silver Saver, so I’ll tell you some of my own experiences of having $650.00 in the bank. Last time I talked about an oven problem. Well the oven was fixed for $220.00. Luckily I didn’t even need to use my Million Dollar Savings Club money, but it was there if I needed it.
What else could $650.00 come in handy for? Let’s talk car repairs today.
With $650.00 you could cover most unexpected car repairs. But is this really a big deal? I think it is. When you ask people why they “need” a new car, they’ll tell you it’s because used cars break down. So they’ll pay 3 times the money to lease a new car. They never buy a new car, because after all that’s too expensive. They like the warranty that comes with over-priced new cars. But can you provide your own warranty?
Now, you could pay 1/3 the price for the same car (used) or just buy 3 times the car! For example, you can easily buy a good used Mercedes Benz for the price of a new Hyundai. And who wouldn’t want to drive a Mercedes Benz? But, people won’t buy the Mercedes Benz because they’re worried about repairs. If they had money in the bank (yes, even $650), they could buy the Mercedes Benz instead. They could handle the unexpected car repairs. They could be their own warranty company.
But it gets even better. The Mercedes Benz won’t loose as much value over time as the Hyundai. You’ll enjoy the car much more. People will assume you’ve spent much more money on it than you did. You’ll have a feeling of prestige that you won’t get from a Hyundai.
Will a used car have more repairs than a new one? Probably, but when you have plenty of money in the bank it won’t matter to you. You can insure yourself against these problems. Then you can drive a nicer car for same money.
This is just one small way having money in the bank can transform you life. If you haven’t started saving, why not get started now? You can join the Million Dollar Savings Club by simply setting up an automatic savings account, just like I have. Then your savings will build automatically while you do nothing. You too will enjoy the peace of mind that comes with having plenty of money in the bank.
Read Part II Here.
