AUTOMOBILES: Doctors and their Cars?

Some Financial Thoughts and/or Rules?

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By Dr. David Edward Marcinko MBA CMP®

SPONSOR: http://www.CertifiedMedicalPlanner.org

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The 10-year rule for buying a new vehicle

When trying to decide whether to buy a used car or a new one, it’s typically financially wiser to buy used. But if you want to buy new, you should plan to drive the car for 10 years or more.

Better yet – do not buy a new vehicle.

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The 20/4/10 rule for buying a vehicle

If you have to borrow when buying a car, to avoid spending more than you can afford you should put down at least 20%, keep the loan limited to no more than four years (to avoid interest), and spend no more than 10% of your gross income on transportation costs (which includes the car payment, parking, gas, and insurance).

Better yet – do not buy a new vehicle.

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Pre-Owned Used Cars!

MORE: https://medicalexecutivepost.com/2012/11/28/how-doctors-might-buy-a-pre-owned-car/

MORE: https://medicalexecutivepost.com/2014/11/09/doctors-and-rental-cars/

MORE: https://medicalexecutivepost.com/2014/01/08/the-jaguar-touring-sedan-one-of-the-finest-luxury-cars-built-yesterday/

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