A very wealthy man once declared "I will never spend more than a thousand dollars on a car!" He went on to expound the virtues of owning a car he could pretty much ignore as far as costs and maintenance went, instead spending his money on assets rather than liabilities. This statement made quite an impact on me as a young fellow and, after factoring in twenty years of inflation and the glut of used vehicles in the US and abroad, I present the best reason for buying used over new - The Two Thousand Dollar Car Theory, or 2GCT. In essence, purchase a secondhand vehicle and get it on the road safely for two grand, and send it to the wrecking yard after twelve months before any major repairs are required. Rinse and repeat.

The benefits of applying 2GCT are numerous and best considered in point form:

1.New cars must be serviced regularly to meet Warranty requirements, and an average new sedan will require these at regular intervals around the 5000 mile mark. At around $200 a pop, service charges can easily add up to around $1000 per annum.

2.Tires aren't cheap. If you can find a used car with good rubber and get twelve months out of it without buying replacements, you can save up to $100 per tire depending on the vehicle. That's $400 per year!

3.Clutches, brake cables, incidental damage, all add costs to and devalue new cars. They start to cost us the minute we drive them off the lot! Scraping the fender of a car you couldn't care less about (to a point, let's keep it real here) is far easier on the mind and the wallet than having a nickel-sized stone chip in the front of the new Pontiac GTO. If your 2G purchase has good brakes and other consumables, rest assured that with normal usage, they will last the year out.

4. Save on Resale Maintenance: As with the above-mentioned consumables, resale maintenance can be on-going and pricey. Replacing mufflers, keeping trim tidy, shampooing upholstery, seeking out replacement hubcaps or accessorizing is just not important if we're going to send 'er to the boneyard at the twelve month bell. Fill her with fuel, keep the oil and radiator topped off and keep it legal, it'll all be over before you know it.

5. Time is Valuable: If you'd rather spend time with the family than washing the car, the 2GCT is perfect for you. Keep the mirrors and Windshield clean and let nature do the rest. Practicing Methodists may be excused for indulging in the Saturday morning ritual, so as the wheels don't look shabby at Church.

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