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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5 Car Interior Upgrades that Will Make Your Drive More Enjoyable

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I Love Used [Previously Owned] Cars –– But!

Dr. Marcinko

By Dr. David Edward Marcinko MBA CMP™

By Nalley Lexus Roswell

As a doctor and financial advisor, I love a good used car.

Why? Let some else take the monetary depreciation hit. A vehicle about 2-4 years old, depending on make or model, is usually about right.

Take my own favorite auto, for example. It is a Jaguar 2000 XJ-V8-L, and she is a classic beauty. My daughter even named her Ele; short for Elegant. And, I show her off every chance I get.

But, did I pay $90,000 for her as a new vehicle? No Way!

Ageism

Allow me to say it again.  I love a good used car. But unfortunately, cars like people, get old over time.

So, if your car is starting to look and feel a bit tired and you don’t have the cash, or are too smart to go for a new one, you can consider investing in some car interior upgrades. An interior upgrade doesn’t need to cost a fortune, and you might be surprised at what a difference it can make. And it is a nice treat for your car as Fall approaches.

My Jaguar's engine after a steam

My Five Tips

Here are 5 car interior upgrades we at are confident will help make your ride more enjoyable without breaking the bank.

1. New seat covers

Car seats quickly get worn and tired, fabric can get ripped or stained, and leather or PVC can age and crack, making the seats rather less comfortable. New seat covers could make a big difference. There are a huge variety of different covers on the market with styles to suit all budgets and tastes. If you want to spend a bit more, consider having some or all of the seats completely re-upholstered. You’ll soon be enjoying a much more comfortable drive.

2. Driver’s seat upgrades

If the driver’s seat really isn’t comfortable any more, then a more viable option might be to upgrade the whole seat. A sports seat will provide a more comfortable, responsive driving position, offering much more support to different parts of your body.

3. Upgraded audio system

Music can make even the longest car journeys more bearable, so why not consider investing in an upgraded audio system? Talk to your local dealer, or neighborhood kid, about getting a price on a new system and having it fitted. You may be quite limited by the dimensions of the cavity on your dashboard, so make sure you measure accurately and opt for a device that you can secure when the car is not in use to minimize the risk of theft.

4. Air purifier

Although you may use your air conditioner, the air in the cabin of your car can still get stale. Unless you open your car windows all the time, the chances are that you are continually breathing dead air. An air purifier can be bought cheaply, and in most cases, installs easily into the cigarette lighter socket.

5. Car mounts

Car mounts are an increasingly popular way for drivers and their passengers to make better use of their gadgets on the move. A dashboard car mount can help you store and use your iPhone or iPod Touch on the go. A mount on your sun visor can be used to keep your sunglasses safe and secure. You can even get a mount, which attaches to the back of the driver or front passenger seat and then folds down into a table for the rear passenger to use for a laptop.

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Jaguar Touring sedan XJ-V8-LWB

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Jaguar front seat

Conclusion

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The True Cost of Automobile Ownership for Physicians

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The First Ten Thousand Miles is the Most Expensive

dr-david-marcinko

By Dr. David Edward Marcinko MBA FACFAS CMP™

[Editor-in-Chief]

With the July Fourth Holiday behind us, America’s summer long vacation road-trips begin.

But, anyone looking to buy a new car should be well aware that the cost of a car doesn’t end at the purchase price.

Other Factors

For example, you must consider additional concerns such as: depreciation, fuel costs, insurance, maintenance and repair, invoicing and sales tax.

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To help potential buyers with their purchases, we’ve put together the above infographic that outlines the real cost of ownership of various types of cars.

Source: www.insurancequotes.org

And, always let some other fool take the depreciation hit; buy previously owned [a.k.a. used] cars.

Assessment

Anyone who is a regular reader of the ME-P knows about my vintage 2000 Jaguar XJ-V8-LWB European touring sedan built in Coventy, England. She is a beauty who has never known rain, winter or snow. Mostly highway miles, always garaged. She not only clicks – she ROARs!

Conclusion

Your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com

OUR OTHER PRINT BOOKS AND RELATED INFORMATION SOURCES:

Product DetailsProduct DetailsProduct Details

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