Happy Friday! I pray you are having a great week! I was leaving a community event and decided to grab my camera and tripod and snap a few pictures next to my car. It took me some time before I made a decision to purchase a luxury car because I felt owning a home and building a share portfolio was first more important. Well, I wanted to share a few tips I learned while owning vehicles that allows me to save money.
1. The majority of the time I park my cars in my garage. This helps to prevent weather damage to the exterior of the car.
2. Every few months I take my cars to get serviced. This helps to extend the life of the vehicle. It also saves me money by doing preventative maintenance. The longevity of a vehicle is so important for someone like myself because I prefer to keep a car for the longest period of time.
3. Next having a good car specialist to perform the maintenance work on your vehicle is key. My definition of good is someone that takes pride in performing quality services.
4. I don't drive the same car for a long period of time. I alternate cars so I am not overworking one vehicle all the time.
5. Last, cars depreciate so quickly in value and they are liabilities when you don' t actually own it. Therefore save and pay cash if possible for your vehicle because it will definitely save you interest. The ownership will also create a temporary asset in your net worth portfolio.
Thank you for reading and have a blessed weekend!