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In researching The Millionaire Next Door, Thomas J. Stanley and William D. Danko found that 40% of millionaires buy used cars. What do they know that you don't? They understand that a car still has most of it's useful life ahead when it is three years old, but it cost only half as much as when it is new. Of course, they are buying used Mercedes, not Ford Escorts, but the principle is the same.
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