The F100 Millionaire Eric Peters Autos

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Mercedes-Benz F100

The F100 Millionaire

by eric April 29, 2011 • 12

Most of the advice out there dealing with the obnoxious in the cost of fuel advises you to yet more money – on a hybrid or on other new car. This is not good advice.

The best way to money, in tight times or times, is not to spend it . Period. simple dictum is the philosophy an “F100 millionaire” has followed. is an F100 millionaire? He’s the guy who that old F100 pick-up with more miles on it Betty White. The secret is he buy a new S-Class Mercedes-Benz in cash if he like it. But the reason he has cash that is precisely because he do financially dumb things buy a new car that costs $82,000 – but will be worth half in three or four years.

How does this lesson to the gas crunch – and the rest of us?

Again, pretty simple.

First, probably smarter to stick whatever you are driving now – even if it is a hog” SUV or truck. For openers, you still owe money on it. And if you do, it is a near-certainty you will gush cash if you it in or sell the thing on your Many new cars loans five or even six years even the shorter-term loans put the in peril of finding himself down” – that is, owing on the loan than the vehicle is mid-way through the loan due to depreciation. Remember, the principal and you agreed to pay the day you bought the vehicle do not go except by paying them Meanwhile, the net worth of your drops a little bit every day – often, at appalling rates. even worse right now for and SUVs because of the gas price the manufacturers can’t sell the new and the value of the old ones is dropping than an engine block an elevator shaft.

If you get all panicky and decide to trade in 15 mpg truck or SUV for a Prius, you might be less at the pump. But you may also just pissed away or six grand to just to say sayonara to old truck/SUV. Even at $4 per, would have bought you gas for the 2-3 years… .

Really, the only way to this deal work is to the gas hog and drive it as little as possible – and (and wait) for one or two things to

The first – to be hoped for – is that gas will eventually drop. The situation is due to inflation and speculation – not any of oil. If you join the lemmings looking to dump their vehicles at any cost (to them), feel even more if, a year from now, gas is at $2.25 per.

The second – which you can count on – is the disparity between what you owe on present vehicle and the equity you in the thing will decrease the you own it. Eventually . that dynamic always works to your Once it’s paid you have just reduced total ownership costs by a amount. Even if it only you 15 MPGs, if you aren’t having to a $500 monthly payment your property tax bill has to a fourth of what it was a few years then you come out ahead – if gas is $5 per gallon.

Mercedes-Benz F100

In the meanwhile, just use common Drive less than you to. Many of us can easily cut our gas bills by 20 or 30 just by doing such as going shopping for food and so on per month instead of once or each week. Pool with friends and family and If you have kids and they to go to practice or after school talk with other about swapping off the driving Use a service like Netflix – delivers DVDs to your or pipes them directly your DSL line – instead of to a Red Box. Order stuff – and let someone else drive the to your door.

Keep tires inflated; even run them at the maximum recommended PSI on the sidewall of the tire and in your manuals). They’ll wear a faster and you’ll have a ride – but you could save a few this way.

If you have a bicycle and it’s outside and you can use lightly traveled roads – use it. It’s not just transpo, it’s good too. And the more healthy you the lower your health costs will probably be. If paying less for pills and bills and insurance premiums, $4 or $5 per fuel loses a lot of its sting.

gas prices are also a great to ride your motorcycle Who needs a $30,000 hybrid gets maybe 45 mpg when you can around on a $2,000 used sport 250 cc bike and get 60-70

You see the point.

Whenever possible, your wallet (or purse) Many of us have become consumers who have been to think that the solution to is to buy something. But the truth is that of what we spend our money on is necessary nor a good deal for us – it’s a $400 Prada or a $30,000 Prius. We may have control over the cost of – but we have a great deal of say how and when and why we spend our money.

And that is the secret of the F100 .

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