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And I would have to say that keeping things you purchased and paid off before having lowered means is not living above your current means. "Living above your me
by kedean 12y ago
And I would have to say that keeping things you purchased and paid off before having lowered means is not living above your current means. "Living above your means", to me, is making purchases and going into debt to maintain a standard of living that you can't afford. Buying that car would have been above their means, of course, but keeping it is not when it's completely paid off and in good working order. As many others have pointed out, the trade-in value of any ten year old vehicle with high mileage will not net you enough to justify the hassle or the risk of getting a car with hidden problems.
- jacquesm 12y agoYou can probably buy a Rolls Royce (they're cheap second hand), but you can't afford to own one if all you need is transportation. That's the problem here. So what you have versus what can afford are not necessarily the same thing. Fuel economy, maintenance costs, taxes, insurance that's where the problem lies and those are all cheaper for a simple Toyota than for a Mercedes.