Why I'm keeping my Honda: My wife and I are retired, but we're not living on a fixed income. We have money for our needs and most of our wants - so long as we don't want a 30-foot sailboat.
We could afford a new car, but we're keeping our 2000 Honda Accord because they are completely reliable for at least 200,000 miles. My Honda dealer recommends the service and maintenance I need, which isn't much, and at 140,000 miles it is an extremely comfortable and safe car. When we do buy, it will be another Honda Accord.
We're letting our equity funds set now, and we're a little bit nervous about our investments. We'd rather cut back on expenses until we know where the stock market is moving. If it turns around, we would consider buying a new car earlier than our two-year plan. But who knows?
My thoughts on the Big 3 bailouts: I've thought a lot about the Big Three. Ford is on the right track, because they are just as reliable as Honda and Toyota. GM's products are not competing with foreign automakers. Chrysler is a mixed bag--they make a good pickup truck, but their family vehicles can't compete.
Overall, I think the decisions our auto companies make aren't in line with what they should have seen coming. They're out of step with what's happening in our country.
NEXT: Kristina Sadlak: 2008 VW EOS
