Free Ride Project - The Sportscar (Almost)

Finding a Car

With $4000.00 cash in hand the stage was set to get our Phase 1 car on the "Drive Free for Life" project. After searching for a couple of weeks straight and bringing a car to my mechanic to check out with a thumbs down we found a winner. My wife saw a 1994 Honda Accord with a new engine for sale on craigslist for $3500.00 . The car was on the other side of the city (80 miles away) but, after calling the guy selling the car it seemed like a good deal which needed to be looked into more deeply.

Stock Photo of the 1994 Honda Accord

The first thing that made me interested was the new engine. I spoke with the seller and he explained it was installed 10K miles ago and he was using it as a daily commuter locally. The MPG is 22 City / 29 Hwy (25 combined) This would be a big change in gasoline usage (2000 Ford Windstar 15 City / 21 Hwy (21 combined)) To put this in real terms:

Do you want to Drive a Free Car?

The Dave Ramsey Seed:

I had come across an interesting video from Dave Ramsey's YouTube page ~

"Drive Free - Retire Rich"

I suggest watch the video before you read my comments.

Done? Read on....

The main idea of the video was an application of pay yourself first. The car is in the top two of items payed for in the average American lifestyle. The house is the other of the top two.

WAVE-B Free Ride Project

This is the outline of  the "WAVE-B Free Ride Project Plan" based upon the Dave Ramsey's "Drive Free for Life" video / concept. The difference is I'm going to actually apply the concept to real life. The video is a concept video. This means it just faces you in the right direction. The goal is still the same just the details need to be tweeked.

Main Goal - Eliminating Car Debt[/caption]

How much is a car worth?

 

Things Are Looking Up - Value A Car Up

 I have a car that has 207000 miles on it from the year 2000. I would like to know what people think of how much it is worth. How do I value such a beast?