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Cake day: November 8th, 2023

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  • I feel that buying a car is really just like renting it. You pay a large amount and sometime later you sell it for a lesser amount. If you divide the difference between the two by the number of months you had it you get the monthly rental cost. For accuracy include all the repair work. For example, a $30k car over 6 years will have cost you around $260 per month to own, purely in depreciation. Keep it another 6 years and that number drops dramatically. A more expensive car is far more on a monthly basis of course.