There lies the problem. 20k/year is not that much. I have easily put that much on my SD per year for the last three plus years for easily 1/10 of the money more likely closer to 1/30 the cost he has spent on cars driving the same amount. He WANTS to drive a new car. He does not NEED to drive a new car.

I probably could sell my car right now for what I paid for it 3.5 years ago. Tell me again that all cars are a depreciating asset...

I agree with Craig. If the guy can afford $700/month then he should by a $1000 car and put the $700 per month into a car savings account. 700 x 12 = $8400. In one year he could buy a very nice car for $8400 cash.

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2009 ML320 Bluetec
1985 300CD
1981 300TD

Past Mercedes
1979 300TD
1982 300TD
2000 E320 4Matic Wagon
1998 E430
1984 300SD
1980 300SD