Comment 70155

By SpaceMonkey (registered) | Posted September 29, 2011 at 16:50:48

At a 4 percent net present value discount rate, and an average income tax rate of 30%, we estimate that we would have had to spend approximately $90,000 of our income over the past eight years to finance and operate a moderately priced $30,000 second car.

You seem to be creating a false choice for yourself. It doesn't have to be a bus vs $90,000 decision. Why not consider a lightly used budget type car for around $8,000-10,000?

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