Comments on Ed's review of How to Survive the Market Meltdown by Organic Consumer Association
How to Survive the Market Meltdown by Organic Consumer Association
Description: In light of the impending financial crisis, we are going to need to hit the restart button in our individual lives by taking a harder look at how we can be even more energy efficient and conscientious as consumers than we've been thus far.
Buy for the mileage
These are good tips for the most part, but I have to take exception to one - the idea that your high-mileage car will ever be worth more than what you paid for it.
In the last six months I've received offers for my 2003 Echo from several local Toyota dealers. (I bought it as a Toyota-certified used car in 2005.) They all said the same thing - the Echo is back in demand.
My Echo certainly qualifies as high-mileage - it can approach 40 miles a gallon on the freeway, depending on how fast I drive. (Since the engine has the power of a used rubber band and the car handles like a milk carton on wheels, the urge to speed is nonexistent.)
The highest offer was just over $5,000, or something less than half of what I paid for the car.
Buy a high mileage car for the mileage, not the resale value.
And if you hear of ANYONE who buys a pressure cooker instead of a flat-screen television, please share!
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Cris Bisch says:
Thanks for sharing your personal experience, Ed. I wonder what others are experiencing in various regions of the country. I hope we'll get more feedback, suggestions and ideas as people think of them and share. PS - I have all three - a fuel efficient car that I'm keeping, a pressure cooker and a flat screen, but struggling to get a refi through... workin' on it, however.