Message #100: A question about buying a car

Hi,

This is the 100th message I've posted here at Sowpub (as can be verified by checking out my User Profile).

I'm going to be buying a new car soon, paying cash. I want to buy a VW Jetta or Mazda Protege. I also want to make a sharp deal and definitely not get screwed in any way.

What's the quickest way for me to learn how to accomplish the above goals.

Thanks in advance for any reply.

-Boyd

check out http://www.autopro4u.com They may have
the answers you're looking for.

Paul Austin
Austin's Publishing Group

> Hi,

> This is the 100th message I've posted here
> at Sowpub (as can be verified by checking
> out my User Profile).

> I'm going to be buying a new car soon,
> paying cash. I want to buy a VW Jetta or
> Mazda Protege. I also want to make a sharp
> deal and definitely not get screwed in any
> way.

> What's the quickest way for me to learn how
> to accomplish the above goals.

> Thanks in advance for any reply.

> -Boyd




Austin's Publishing Group

Hi Boyd!

In either "The Warren Buffett Way" or "BUFFETTOLOGY" the issue of Warren driving around in second-hand cars was raised.

The reason he won't pay $20,000 for a new car is...

If he invested that $20,000 and it only got a small business return of 12%, after 10 years he'd have over $60,000. So spending that $20,000 is like spending $60,000. And spending $60,000 for an object that does not go up in value is something he won't do.

Instead, he buys second-hand cars and invest the rest of the money.

Another deca-millionaire I read about buys her designer-label clothes in second-hand stores then pays the few bucks to have them altered so they fit better. She feels it's silly to buy the designer-label item at full retail price as it only loses value. Instead, the money she saves buying second-hand designer-label is invested in stocks of medical companies as she believes their profits will soar as more and more baby boomers need medicine in their old age.

The price of the Jetta reminded me of the Buffett story and thought I'd mention it, for what it's worth.

Just make sure you don't load your new car up with loads of lumber :o)

Michael Ross.




How NOT To Cart Wood

Michael,

You have a unique perspective and it's one that I value greatly. Hopefully you'll keep on posting for a long time to come.

Best,

-Boyd

don't pay cash. Apparently, paying cash for a car
is sending flags that you are a drug dealer. Pay
by check. Anyone paying cash is reported to the
police and you may find your new car confiscated
until you prove that your innocent. Yikes.

Hi --

What you heard of is an IRS requirement. Basically any cash transaction of $10,000 or greater is to be reported to the IRS. They use this number as an indicator of drug traffic money among other things. Been going on for years. Your bank does the same thing.

Nothing happens to you automatically. When I sold cars we had a form to fill out if anyone paid more than $10,000 cash and sent that to the IRS.

-- Dan Butler

> don't pay cash. Apparently, paying cash for
> a car
> is sending flags that you are a drug dealer.
> Pay
> by check. Anyone paying cash is reported to
> the
> police and you may find your new car
> confiscated
> until you prove that your innocent. Yikes.




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