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Used Car Timeline

By kklg
  • Month 1

    Month 1

    1) Purchase $1,500 car
    (Time it took to save for purchase: 0 months) 2) Save $500

  • Month 2

    1) Save $500

  • Month 3

    1) Save $500

  • Month 4

    1) Save $500

  • Month 5

    1) Save $500

  • Month 6

    1) Save $500

  • Month 7

    1) Save $500

  • Month 8

    1) Save $500

  • Month 9

    1) Save $500
  • Month 10

    Month 10

    1) Save $500 2) Sell $1500 car
    3) Use money saved over 10 months for new car (10 x $500/month) 4) Buy $5000 car
    (Time it took to save for purchase: 10 months) (Total amount left from resale = $1,500)

  • Month 11

    1) Save $577.50

  • Month 12

    1) Save $577.50

  • Month 13

    1) Save $577.50

  • Month 14

    1) Save $577.50

  • Month 15

    1) Save $577.50

  • Month 16

    1) Save $577.50

  • Month 17

    1) Save $577.50

  • Month 18

    1) Save $577.50

  • Month 19

    1) Save $577.50
  • Month 20

    Month 20

    1) Save $577.50 2) Sell $5,000 car
    3) Add $1,500 and $5,000 (sale of used car) + $5,775 (saved money) = $12,275 4) Buy $11,550 car
    (Time it took to save for purchase: 20 months)