четвъртък, 10 март 2011 г.
Valentino Rossi - MotoGP Legend
Valentino Rossi is the youngest rider ever to win the world title in all three classes. At the age of 22 years old, Valentino Rossi became the last true worldchampion of the 500cc and reached his goal of winning in the 125cc, 250cc and 500cc class. In 2002 Valentino Rossi was the first rider ever, at the young age of 23 years, to win the MotoGP class.
Valentino loves everything that goes fast, off-road, rally or road racing; he's a genius on wheels. As a kid Valentino spends lots of time into the paddock as his father, Graziano Rossi was a works rider. Valentino Rossi started his career on a minibike at the coastal resorts near his home, Tavullia. He switched to 125 Sport Production to win the Italian national title in his second attempt in 1994. In 1995 he was the youngest ever Italian 125cc champion, and third in the European championship. He moved to the GP's in 1996.
Valentino Rossi won his first grand prix at the grand prix of the Czech Republic in his debut-season. His second year in the 125cc was very successful. With 12 grand prix victories and only missing out on the podium twice all year Valentino Rossi became worldchampion for the first time. Valentino Rossi amassed a huge amount of fans because of the way he celebrates his victories, his style and sense of humor.
After his 125cc world title Valentino Rossi moved up to the 250cc class on a factory Aprillia and by the end of the year he seemed to have achieved dominance, with four grand prix victories in a row and a second overall standing in the championship. The season of '99 started slowly, but after two races Valentino Rossi caught fire and dominated the rest of the year. With nine victories he became worldchampion in the 250cc.
Valentino Rossi moves to the 500cc to achieve his goal; become worldchampion in all three classes. Valentino Rossi swaps from an Aprillia factory bike to a Honda factory bike. He rides for pretty much the same team that took Mick Doohan to his world titles. Just like the previous classes Valentino Rossi needs one year to learn and one year to win the world championship.
In the year 2000 Valentino Rossi gets ten podium places and even two grand prix victories. With his second place in the championship Valentino Rossi becomes Rookie of the year. In the year 2001 'The Doctor' completes the trilogy with winning the championship at the age of 22 years. With taking this championship, Valentino Rossi is the last true 2-stroke worldchampion as in the year 2002 the 4-strokes will enter the MotoGP.
With the new class entering the grand prix in 2002, a new goal was set for Valentino: winning the MotoGP Class. Valentino started off the season with winning the first GP in a new area. The Honda 4-stroke of Valentino Rossi has been dominating all season, only finishing 2nd once in South Africa and crashing in the Czech Republic . In Brazil he wrapped up the championship after 10 victories this season.
In 2003 Valentino Rossi completely dominates the MotoGP class and adds another MotoGP world title to his name. But Valentino Rossi isn't satisfied; the worldchampion is up for a new challenge. To every one's disbelief he signs up with the less competitive Yamaha team. Valentino Rossi proves in his first ever race on the Yamaha M1 that the rider on the bike does matter by winning the grand prix of South Africa. Honda does everything to stop Valentino Rossi, but the doctor is simply unstoppable. Valentino Rossi writes history by winning the MotoGP world title on the Yamaha.
Although the MotoGP class is getting more and more competitive every year, so far there is no rider that can threaten the dominance that Valentino Rossi displays again in 2005. The fairytale simply continues. In 2005 Valentino Rossi wraps up his 7 th world title.
Valentino loves everything that goes fast, off-road, rally or road racing; he's a genius on wheels. As a kid Valentino spends lots of time into the paddock as his father, Graziano Rossi was a works rider. Valentino Rossi started his career on a minibike at the coastal resorts near his home, Tavullia. He switched to 125 Sport Production to win the Italian national title in his second attempt in 1994. In 1995 he was the youngest ever Italian 125cc champion, and third in the European championship. He moved to the GP's in 1996.
Valentino Rossi won his first grand prix at the grand prix of the Czech Republic in his debut-season. His second year in the 125cc was very successful. With 12 grand prix victories and only missing out on the podium twice all year Valentino Rossi became worldchampion for the first time. Valentino Rossi amassed a huge amount of fans because of the way he celebrates his victories, his style and sense of humor.
After his 125cc world title Valentino Rossi moved up to the 250cc class on a factory Aprillia and by the end of the year he seemed to have achieved dominance, with four grand prix victories in a row and a second overall standing in the championship. The season of '99 started slowly, but after two races Valentino Rossi caught fire and dominated the rest of the year. With nine victories he became worldchampion in the 250cc.
Valentino Rossi moves to the 500cc to achieve his goal; become worldchampion in all three classes. Valentino Rossi swaps from an Aprillia factory bike to a Honda factory bike. He rides for pretty much the same team that took Mick Doohan to his world titles. Just like the previous classes Valentino Rossi needs one year to learn and one year to win the world championship.
In the year 2000 Valentino Rossi gets ten podium places and even two grand prix victories. With his second place in the championship Valentino Rossi becomes Rookie of the year. In the year 2001 'The Doctor' completes the trilogy with winning the championship at the age of 22 years. With taking this championship, Valentino Rossi is the last true 2-stroke worldchampion as in the year 2002 the 4-strokes will enter the MotoGP.
With the new class entering the grand prix in 2002, a new goal was set for Valentino: winning the MotoGP Class. Valentino started off the season with winning the first GP in a new area. The Honda 4-stroke of Valentino Rossi has been dominating all season, only finishing 2nd once in South Africa and crashing in the Czech Republic . In Brazil he wrapped up the championship after 10 victories this season.
In 2003 Valentino Rossi completely dominates the MotoGP class and adds another MotoGP world title to his name. But Valentino Rossi isn't satisfied; the worldchampion is up for a new challenge. To every one's disbelief he signs up with the less competitive Yamaha team. Valentino Rossi proves in his first ever race on the Yamaha M1 that the rider on the bike does matter by winning the grand prix of South Africa. Honda does everything to stop Valentino Rossi, but the doctor is simply unstoppable. Valentino Rossi writes history by winning the MotoGP world title on the Yamaha.
Although the MotoGP class is getting more and more competitive every year, so far there is no rider that can threaten the dominance that Valentino Rossi displays again in 2005. The fairytale simply continues. In 2005 Valentino Rossi wraps up his 7 th world title.
Hobbies For Your Boring Life - Find a Hobby Today!
"All work and no play makes Jack a dull boy." -- Don't be Jack, get a hobby!
I don't know about you, but I love hobbies. I might just spend more time collecting hobbies than I do actually doing my hobbies, so I decided to start Not So Boring Life. A site dedicated to helping you not become Jack or boring for that matter. If you've stumbled onto my site in hopes to find a hobby please check out our popular hobbies or list of hobbies pages. These two pages are loaded with over 200 hobbies that the world over enjoys. If you're looking for a hobby with a little more pazazz then your next stop needs to be the top hobbies page where some of the more ecletic and perhaps extreme hobbies are located. Once you've selected your next hobby, the hobby guides will guide you through the beginning stages of your journey. With general information, tips, and resources you can't go wrong.
Outdoor Hobbies
Butterfly Watching Butterfly Watching
Butterfly watching is a great way to spend an afternoon outdoors.
Travel Traveling
Roadtrips. Foreign Countries. Traveling is a great way to spend your extra time and vacations.
Astronomy Astronomy
A night under the stars is hobby made for relaxing.
Bonsai Trees Bonsai Trees For Beginners
What can be more rewarding than growing a miniature tree?
Camping Camping
There is nothing better than camping out under the stars.
Hot Air Ballooning Hot Air Ballooning
Hot air ballooning is an experience of a lifetime. Soar like a bird with this high flying hobby!
Cloud Watching Cloud Watching
Cloud Watching is the cheapest hobby ever!
Motorcycle Riding Motorcycle Riding
The open road on a motorcycle is a great place to spend your extra time.
Throwing Boomerangs Throwing Boomerangs
Next trip to the park, do something different. Learn to throw a boomerang.
Bird Watching Bird Watching
Getting out in nature and checking out birds is a great outdoor hobby.
Collecting Hobbies
Collecting James Bond Toys James Bond Toys
007 has inspires countless generations. Start a James Bond toy collection today.
Coin Collecting Coin Collecting
Coins have been around for thousand of years. How cool to collect a piece of history?
Button Collecting Button Collecting
Button are everywhere! Why not collect them? Check out this cool hobby!
Collecting Gadgets Gadget Collecting
Dudes love gadgets. How big is your gadget collection?
Toy Collecting Toy Collecting
Legos, Transforms, GI Joes. Remember all the good toys back when you were a kid?
Collecting Antique Dolls Doll Collecting
Girls of all ages love dolls. Antique doll collecting is a great hobby for women.
Action Figures Collecting Action Figures
Remember the cool toys from when you were a kid?
Sports
BodyBuilding Bodybuilding
Take weight lifting to the next level.
Swimming Swimming
Love the water - year round? Swimming is just the hobby for you.
Running Running
Marathons. Half Marathons. Get to running!
Walking Walking
You do it everyday. Make it relaxing and make it a hobby!
RC Hobbies
RC Airplanes RC Airplanes
RC airplanes are incredible! Learn where to start and the best plane for you!
RC Boats RC Boats
A hobby with water and speed. A great combo!
RC Cars and RC Trucks RC Cars & RC Trucks
Race. Offroad. Fast! RC Hobbies are tons of fun for all ages!
Extreme Sports
Rock Climbing Rock Climbing
Better have a firm grip and a safety rope to get started with this hobby.
Mountain Biking Mountain Biking
Go as fast or as slow as you want with this thrilling hobby!
Grip Strength Grip Strength
Tearing telephone books and bending nails are all about grip strength.
Shark Fishing Shark Fishing
Only for serious fisherman. Fish for sharks from the beach.
Scuba Diving Scuba Diving
A hobby that will take you places many can only dream of.
Flying Flying
Ever dreamed of flying off into the sunset? Learn what it would take here.
Food & Drink
Pipe Smoking Pipe Smoking
Learn to sit back, relax and enjoy the pipe smoke. It's a life time hobby!
Cigar Smoking Cigar Smoking
Celebrating or relaxing is a great reason to enjoy a fine cigar.
Beer Brewing Home Beer Brewing
Ready to learn to brew your own beer? A fun enjoyable hobby you can taste!
Games
Tetris Tetris
This timeless classic will keep you coming back for more.
Playing Poker Playing Poker
This game of skill takes a lifetime to master!
Yo-Yo Yo-Yo
Learn the basics and more advance tricks and impress your friends.
Backgammon Backgammon
Its not chess, and its not checkers, its backgammon!
Arts & Crafts
Candle Making Candle Making
Candle making is a great arts and crafts hobby. Decorate or sell with your candle creations.
Photography Photography
Photography is one of the world's biggest hobbies!
Knitting Knitting
One of those hobbies for a rainy day!
I don't know about you, but I love hobbies. I might just spend more time collecting hobbies than I do actually doing my hobbies, so I decided to start Not So Boring Life. A site dedicated to helping you not become Jack or boring for that matter. If you've stumbled onto my site in hopes to find a hobby please check out our popular hobbies or list of hobbies pages. These two pages are loaded with over 200 hobbies that the world over enjoys. If you're looking for a hobby with a little more pazazz then your next stop needs to be the top hobbies page where some of the more ecletic and perhaps extreme hobbies are located. Once you've selected your next hobby, the hobby guides will guide you through the beginning stages of your journey. With general information, tips, and resources you can't go wrong.
Outdoor Hobbies
Butterfly Watching Butterfly Watching
Butterfly watching is a great way to spend an afternoon outdoors.
Travel Traveling
Roadtrips. Foreign Countries. Traveling is a great way to spend your extra time and vacations.
Astronomy Astronomy
A night under the stars is hobby made for relaxing.
Bonsai Trees Bonsai Trees For Beginners
What can be more rewarding than growing a miniature tree?
Camping Camping
There is nothing better than camping out under the stars.
Hot Air Ballooning Hot Air Ballooning
Hot air ballooning is an experience of a lifetime. Soar like a bird with this high flying hobby!
Cloud Watching Cloud Watching
Cloud Watching is the cheapest hobby ever!
Motorcycle Riding Motorcycle Riding
The open road on a motorcycle is a great place to spend your extra time.
Throwing Boomerangs Throwing Boomerangs
Next trip to the park, do something different. Learn to throw a boomerang.
Bird Watching Bird Watching
Getting out in nature and checking out birds is a great outdoor hobby.
Collecting Hobbies
Collecting James Bond Toys James Bond Toys
007 has inspires countless generations. Start a James Bond toy collection today.
Coin Collecting Coin Collecting
Coins have been around for thousand of years. How cool to collect a piece of history?
Button Collecting Button Collecting
Button are everywhere! Why not collect them? Check out this cool hobby!
Collecting Gadgets Gadget Collecting
Dudes love gadgets. How big is your gadget collection?
Toy Collecting Toy Collecting
Legos, Transforms, GI Joes. Remember all the good toys back when you were a kid?
Collecting Antique Dolls Doll Collecting
Girls of all ages love dolls. Antique doll collecting is a great hobby for women.
Action Figures Collecting Action Figures
Remember the cool toys from when you were a kid?
Sports
BodyBuilding Bodybuilding
Take weight lifting to the next level.
Swimming Swimming
Love the water - year round? Swimming is just the hobby for you.
Running Running
Marathons. Half Marathons. Get to running!
Walking Walking
You do it everyday. Make it relaxing and make it a hobby!
RC Hobbies
RC Airplanes RC Airplanes
RC airplanes are incredible! Learn where to start and the best plane for you!
RC Boats RC Boats
A hobby with water and speed. A great combo!
RC Cars and RC Trucks RC Cars & RC Trucks
Race. Offroad. Fast! RC Hobbies are tons of fun for all ages!
Extreme Sports
Rock Climbing Rock Climbing
Better have a firm grip and a safety rope to get started with this hobby.
Mountain Biking Mountain Biking
Go as fast or as slow as you want with this thrilling hobby!
Grip Strength Grip Strength
Tearing telephone books and bending nails are all about grip strength.
Shark Fishing Shark Fishing
Only for serious fisherman. Fish for sharks from the beach.
Scuba Diving Scuba Diving
A hobby that will take you places many can only dream of.
Flying Flying
Ever dreamed of flying off into the sunset? Learn what it would take here.
Food & Drink
Pipe Smoking Pipe Smoking
Learn to sit back, relax and enjoy the pipe smoke. It's a life time hobby!
Cigar Smoking Cigar Smoking
Celebrating or relaxing is a great reason to enjoy a fine cigar.
Beer Brewing Home Beer Brewing
Ready to learn to brew your own beer? A fun enjoyable hobby you can taste!
Games
Tetris Tetris
This timeless classic will keep you coming back for more.
Playing Poker Playing Poker
This game of skill takes a lifetime to master!
Yo-Yo Yo-Yo
Learn the basics and more advance tricks and impress your friends.
Backgammon Backgammon
Its not chess, and its not checkers, its backgammon!
Arts & Crafts
Candle Making Candle Making
Candle making is a great arts and crafts hobby. Decorate or sell with your candle creations.
Photography Photography
Photography is one of the world's biggest hobbies!
Knitting Knitting
One of those hobbies for a rainy day!
5 Common Money Mistakes About Cars
The people recognize themselves in their commodities; they find their soul in their automobile, hi-fi set, split-level home, kitchen equipment.
Herbert Marcuse
When Solomon said there was a time and a place for everything he had not encountered the problem of parking his automobile.
Bob Edwards
Not having to own a car has made me realize what a waste of time the automobile is.
Diane Johnson
Car designers are just going to have to come up with an automobile that outlasts the payments.
Erma Bombeck
The automobile gives rise to intense passions in both sexes. Just a few decades ago car dealerships were places where women dared not go leaving the complex negotiations for a new car to their husbands, brothers and uncles. "Upside down on my car" was a phrase entrenched in the American lexicon long before the current economic meltdown turned "upside down on my house" into the catch phrase for the decade. Automobiles are expensive, yet they are the biggest waste of money imaginable and owning a vehicle defies every law of basic financial common sense there is. There are 5 common money mistakes most people make when purchasing a car.
1) Putting money down on a new car
2) Leasing a car
3) Trading in a car
4) Buying a new car every 3-5 years
5) Rolling old car debt into a new car purchase
Putting Money Down on a New Car
The author of a well-read and well-circulated financial blog, the Simple Dollar, wrote that you should put money down on a car in order to avoid GAP insurance. What is GAP insurance? GAP insurance stands for Guaranteed Auto Protection and is a supplemental form of auto insurance that covers the GAP between the residual value on the car if it is totaled out and the loan amount on the car. GAP insurance is an additional expense especially if you purchase a car that does not hold its value over the long run (as most don't) but is it worth giving up $3000-5000 cash to avoid the premium? Of course not. And here's why. Cars are depreciating assets. As a rule of thumb they lose 10-25% of their value each year for the first 3 years.
Putting any money down on a car, therefore, is a lot like taking a roll of Benjamins into your bathroom, lifting the lid and flushing 30 to 50 of those bills down the toilet. Any money that a new car purchaser puts down will not translate into equity in that car, but will disappear into thin air the moment the new owner drives that car off the lot. GAP insurance on the other hand is a relatively small expense a consumer may or may not choose to assume. Should the consumer choose to get GAP insurance, it is based on the value of the new car and the expected depreciation. For the top-ranked cars in terms of the least depreciation, GAP insurance will cost the least. For the cars that depreciate the most, GAP insurance will cost the most.
Kelly Blue book posts an annual list of cars that depreciate the least. Doesn't car insurance offer full coverage for a car? No it doesn't. Insurance companies are smart, they won't pay more than a vehicle is worth. Consumers do that. Car insurance will only cover the residual value of a car in the event of an accident, not the full loan amount owed on a car. Pay $20,000 for a new car and wreck it in the first year, your auto insurance will cover only the residual value of that car. If that residual value is $15,000 and you owe say $18,000 you are on the hook for the $3,000. Here are the basic things you can do to avoid this depreciation calamity and hang onto your money:
1) Only buy new cars that retain their value and negotiate the best deal you can
2) Only buy used cars (someone else has paid for the depreciation)
3) Save like a fiend so that you can "self insure", ie., cover the GAP in the event of an accident
4) If you don't do 1,2 or 3 buy GAP insurance because it is minuscule compared to the out of pocket costs of a down payment
5) Don't let your kids drive your car
Leasing a Car
The reason a car lease's monthly payment is so much less than the principal and interest payments on a car note is that the lessee is not amortizing the value of the car with the payment. The lessee is amortizing only the depreciation costs and paying interest to do so! As an example if the 3-year depreciation expense on a car $20,000 car is $10,000, the monthly payment on the lease is based on that 10K along with the interest rate. Sounds like a good deal, I suppose, until you figure in that the car dealer will get back a used car at the end of the lease that he intends to sell for the full value of its make and model. What this means is pristine physical condition and low mileage. If the car returns in anything other than perfect condition, the lessee will have to pay in the form of stiff mileage and wear and tear penalties. Lease a car back to back and you loose big time because you are always bearing the cost of someone else's depreciation.
Trading a Car
Basically my philosophy is that you buy the most reliable and high value car that you can, negotiate the best price that you can, pay it off and drive that vehicle for at least 10 years. Even if your vehicle is in pristine condition at the end of 5 years and you just have to have a new one, the dealer will give you at best 50 to 75% of the residual value of your car. The car dealer will make money twice: once on the new car you just bought and again on your trade in when they re-sell it for maximum retail value. It is great to give money away, but give it away to a charity and take the tax deduction. Your car dealer does not need your charity. Here are basic things you can do when you have a car to trade in:
1) Sell the car on Craig's list or advertise it in the newspaper getting the best deal you can for your car. Then you are free to use the money anyway you choose.
2) Sell the car back to a same brand dealer. I've done it. It works.
Buying a new car every 3-5 years
Buying a new car every 3-5 years means that you are always locked into a principal and interest payment on something that is always losing value. The only way to "win" with a car is during the years in which you are essentially driving that car for free. At the very least, you can spend your time paying yourself the principal and interest payments, it is a form of forced savings in which you can set yourself up to pay cash for your next car, or use the money to take that vacation you have always wanted to.
Rolling Old Car Debt into a New Car Purchase
I know people who are so far upside down on a car that they have to look up to see down. It is sad, really. A car dealer will give you the rope to hang yourself. I have only met one salesman who was willing to talk me out of rolling one car into another. I was so desperate to get rid of the car I had at the time. It was an SUV that had the nasty habit of stalling in the cold at altitude. If I had been driving it in Phoenix I would never have had a problem, but I insisted on driving it to the Ski areas in Colorado. Silly me. But I was desperate enough to roll the 22K owed on that vehicle into another car loan on a new vehicle. The truth of the matter is that most cars on the market will never out last that kind of debt, and rolling old car debt into a new car purchase will result in a cycle of indebtedness to a car that can be virtually impossible to break
I hope by now I have shattered any illusions that a car is an asset. The traditional rules of money down and extended payments that apply to acquiring genuine assets, such as investment property and businesses simply don't apply to a car. View a car for what it is, an essential transportation expense that will get you safely from point A to point B. As the quotes that head this article illustrate, cars incite passions that warp reality and good judgment understanding the 6 common money mistakes people make with cars will save you headache, heartache and money.
Herbert Marcuse
When Solomon said there was a time and a place for everything he had not encountered the problem of parking his automobile.
Bob Edwards
Not having to own a car has made me realize what a waste of time the automobile is.
Diane Johnson
Car designers are just going to have to come up with an automobile that outlasts the payments.
Erma Bombeck
The automobile gives rise to intense passions in both sexes. Just a few decades ago car dealerships were places where women dared not go leaving the complex negotiations for a new car to their husbands, brothers and uncles. "Upside down on my car" was a phrase entrenched in the American lexicon long before the current economic meltdown turned "upside down on my house" into the catch phrase for the decade. Automobiles are expensive, yet they are the biggest waste of money imaginable and owning a vehicle defies every law of basic financial common sense there is. There are 5 common money mistakes most people make when purchasing a car.
1) Putting money down on a new car
2) Leasing a car
3) Trading in a car
4) Buying a new car every 3-5 years
5) Rolling old car debt into a new car purchase
Putting Money Down on a New Car
The author of a well-read and well-circulated financial blog, the Simple Dollar, wrote that you should put money down on a car in order to avoid GAP insurance. What is GAP insurance? GAP insurance stands for Guaranteed Auto Protection and is a supplemental form of auto insurance that covers the GAP between the residual value on the car if it is totaled out and the loan amount on the car. GAP insurance is an additional expense especially if you purchase a car that does not hold its value over the long run (as most don't) but is it worth giving up $3000-5000 cash to avoid the premium? Of course not. And here's why. Cars are depreciating assets. As a rule of thumb they lose 10-25% of their value each year for the first 3 years.
Putting any money down on a car, therefore, is a lot like taking a roll of Benjamins into your bathroom, lifting the lid and flushing 30 to 50 of those bills down the toilet. Any money that a new car purchaser puts down will not translate into equity in that car, but will disappear into thin air the moment the new owner drives that car off the lot. GAP insurance on the other hand is a relatively small expense a consumer may or may not choose to assume. Should the consumer choose to get GAP insurance, it is based on the value of the new car and the expected depreciation. For the top-ranked cars in terms of the least depreciation, GAP insurance will cost the least. For the cars that depreciate the most, GAP insurance will cost the most.
Kelly Blue book posts an annual list of cars that depreciate the least. Doesn't car insurance offer full coverage for a car? No it doesn't. Insurance companies are smart, they won't pay more than a vehicle is worth. Consumers do that. Car insurance will only cover the residual value of a car in the event of an accident, not the full loan amount owed on a car. Pay $20,000 for a new car and wreck it in the first year, your auto insurance will cover only the residual value of that car. If that residual value is $15,000 and you owe say $18,000 you are on the hook for the $3,000. Here are the basic things you can do to avoid this depreciation calamity and hang onto your money:
1) Only buy new cars that retain their value and negotiate the best deal you can
2) Only buy used cars (someone else has paid for the depreciation)
3) Save like a fiend so that you can "self insure", ie., cover the GAP in the event of an accident
4) If you don't do 1,2 or 3 buy GAP insurance because it is minuscule compared to the out of pocket costs of a down payment
5) Don't let your kids drive your car
Leasing a Car
The reason a car lease's monthly payment is so much less than the principal and interest payments on a car note is that the lessee is not amortizing the value of the car with the payment. The lessee is amortizing only the depreciation costs and paying interest to do so! As an example if the 3-year depreciation expense on a car $20,000 car is $10,000, the monthly payment on the lease is based on that 10K along with the interest rate. Sounds like a good deal, I suppose, until you figure in that the car dealer will get back a used car at the end of the lease that he intends to sell for the full value of its make and model. What this means is pristine physical condition and low mileage. If the car returns in anything other than perfect condition, the lessee will have to pay in the form of stiff mileage and wear and tear penalties. Lease a car back to back and you loose big time because you are always bearing the cost of someone else's depreciation.
Trading a Car
Basically my philosophy is that you buy the most reliable and high value car that you can, negotiate the best price that you can, pay it off and drive that vehicle for at least 10 years. Even if your vehicle is in pristine condition at the end of 5 years and you just have to have a new one, the dealer will give you at best 50 to 75% of the residual value of your car. The car dealer will make money twice: once on the new car you just bought and again on your trade in when they re-sell it for maximum retail value. It is great to give money away, but give it away to a charity and take the tax deduction. Your car dealer does not need your charity. Here are basic things you can do when you have a car to trade in:
1) Sell the car on Craig's list or advertise it in the newspaper getting the best deal you can for your car. Then you are free to use the money anyway you choose.
2) Sell the car back to a same brand dealer. I've done it. It works.
Buying a new car every 3-5 years
Buying a new car every 3-5 years means that you are always locked into a principal and interest payment on something that is always losing value. The only way to "win" with a car is during the years in which you are essentially driving that car for free. At the very least, you can spend your time paying yourself the principal and interest payments, it is a form of forced savings in which you can set yourself up to pay cash for your next car, or use the money to take that vacation you have always wanted to.
Rolling Old Car Debt into a New Car Purchase
I know people who are so far upside down on a car that they have to look up to see down. It is sad, really. A car dealer will give you the rope to hang yourself. I have only met one salesman who was willing to talk me out of rolling one car into another. I was so desperate to get rid of the car I had at the time. It was an SUV that had the nasty habit of stalling in the cold at altitude. If I had been driving it in Phoenix I would never have had a problem, but I insisted on driving it to the Ski areas in Colorado. Silly me. But I was desperate enough to roll the 22K owed on that vehicle into another car loan on a new vehicle. The truth of the matter is that most cars on the market will never out last that kind of debt, and rolling old car debt into a new car purchase will result in a cycle of indebtedness to a car that can be virtually impossible to break
I hope by now I have shattered any illusions that a car is an asset. The traditional rules of money down and extended payments that apply to acquiring genuine assets, such as investment property and businesses simply don't apply to a car. View a car for what it is, an essential transportation expense that will get you safely from point A to point B. As the quotes that head this article illustrate, cars incite passions that warp reality and good judgment understanding the 6 common money mistakes people make with cars will save you headache, heartache and money.
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