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Enough mileage on a 3-year old vehicle that a new one makes sense? That's absurd. The average mileage driven per year is 15,000 miles. Multiply that by three, and you've got 45,000 miles. At that point a car is just getting broken in and getting a feel for the road. YOur cost comparison is off, too. 2014 Honda Civics start (basic) at over $18,000. A 2011 is valued at $15,000 - and that's assuming it's in great (pristine) condition. which no three year old car is in. Admittedly, Hondas don't depreciate as quickly as some makes, but you're still way off in your assertions.
"If you are looking for small cars, say Ford Focus class, you can often purchase a new one cheaper than you can get a recent model year used one when you take incentives into account." No, you can't. "Incentives" mean nothing when you're strapped with car payments and interest for 5+ years. In actuality, you end up paying much more.
Banked and taken whenever you like? Hardly. Most timeshares are not like this at all.
You might want to re-read. Nowhere did he say to *give* it away. And if you think a timeshare is an asset, then you're as dumb as you claim Dave's advice to be.
In response to:

Dave Says Don't Pay More for That Home!

MrTufts Wrote: May 14, 2014 3:40 PM
Heidi - You're partially right on the PMI. However, it only pays the remainder of what's owed on your mortgage. There would be nothing to replace your income for your family.
It doesn't say there was a cosigner. But if there was, they'd be not just morally but legally obligated to pay the loan if she didn't. Co-signing is stupid!
Boy, there's a brainy idea. She's already in bad financial shape and you want her to default and wreck her finances even more? Sheesh...
I don't know where you sold cars, but it must not have been for very long if you think "not many" people buy expensive, brand-new cars on minimum wage or thereabouts. This country is full of them. Drive around and you'll see people living in tin-box trailers, working dead-end MW jobs, kids with no winter coats or dirty clothes and a shiny new car parked in the driveway...
You're absolutely right about fear. Gold is one of the worst long-term investments out there, and it's no hedge against anything. Even with the bump over the last two to three years (and it's already sinking, have you noticed?) gold's history is still nowhere near as good as mutual funds and other options.
Wow, a little hostility there... First, you give kids far too little credit. My dad helped me open my first savings account when I was seven, because I knew i wanted a car one day. Second, Ramsey stresses that the parent keep control of the situation - not letting the kid just run wild and spend however much on whatever pops to mind. Did you even read the article?
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