Protect your investment!

OK, I am new to blogging so I am not ashamed to admit, I stared at this editor for an over hour before I even came up with a title for this, my first post. Another hour passed before the first sentence was written so I decided to quit watching the clock and just write.


Since I am being honest, the purpose of this blog is two-fold.  I am promoting my new business My Pit Crew (mypitcrew.com).  And second, to share what I have learned about protecting what turns out to be the largest investment most people make excluding their home.  According to 2008 study, in the USA the average number of cars per household equals 2.28 ( see article).


The average price paid for a new vehicle is approximately $25k and I am guessing that the average person gets a new car every 7-10 years minimum. Over the life of a 30 year mortgage I think it is safe to assume that the average household spends $150k on personal vehicles alone.  Compare that with the average home price in the USA (I know some of you live in areas where real estate is much higher), $293k according to Home Buying Institute (see article).


Wow!  The average amount paid for vehicles over the same 30 years you pay for the home is around 1/2.  You take the time to change the filters in your home ventilation system, you mow the lawn (or have someone do it) and you get new flooring, unplug the drains etc..


The point is, if you regularly maintain your car you can easily get another 50% of quality life out of it.  Over those 30 years you can easily save $50k-$75k.  In the coming weeks, I will amaze you with cost effective maintenance tips.  In the meantime, start thinking about exactly what you are going to do with all of the money you are going to save!