There is nothing quite so expensive as a brand-new car. There are times, rare though they be, when financing a new car might be advisable. But generally speaking, the cheapest way to own a car is to buy a late model, used, domestic car with cash.

photo credit: ericpetersautos.com

photo credit: ericpetersautos.com

How can you possibly do that when you don’t have a lot of cash to get started?  Great question. The answer is found in these two simple rules:

Rule #1: Pay Cash

Rule #2: Always Make Payments

I’ll bet you’re confused. On the one hand in Rule #1 I’m telling you to always pay cash for your cars. And in Rule #2 I am telling you to always make payments. Both principles are true. Read more