The point of a net present value analysis is to take a list of expenses in the future and boil them down to the present value today. You can do it for 2 different scenarios and then figure out which scenario is actually cheaper in the long run, especially when it is a complicated decision with different outflows of money at different times. However, you do need to have some kind of estimate for what your expenses would be in the future for each scenario.
Is there a list of expected maintenance for the car based upon mileage? That’s one way I assessed different used cars the last time I bought one. You can assume that when the car hits however many miles you will need to replace the doo-dad and that’s usually $X. It would definitely take a lot of research and on my end, I probably wouldn’t go that far into the analysis. When I did it last time I looked at the cost of the car and the mileage, and just quickly looked at the manufacturer’s suggested maintenance schedule. I was looking at cars with 30-60k miles though - not sure at how many miles those charts stop.
If you do get a list of expected expenses, you can grab an NPV calculation spreadsheet online, or I could send you one, and it will calculate it all for you. You can go as detailed or not as you want.
I bring mine in at least once a year I would say. I’ve had the same mechanic in CO since 2016, so I literally wait until I’m here for the Summer and then bring my car in because they know the history. Even though I don’t drive the mileage suggested for an oil change, I just go ahead and have one at least once a year because I figure it’s a chance for them to catch any other issues that I might be dealing with. I had a bad scare with this car in 2018, where it was misfiring on all 4 cylinders due to stuck engine valves (I think? I am not a car person) but they told me if I had waited any longer ( I used to chronically ignore check engine lights haha) I would have had to replace the entire engine. So now I just go in no matter what!
@CalBal the insurance thing is huge! I pay $60 a month for car insurance on this car, and $25 a year for registration haha…
Another consideration: I think the used car market is overvalued right now, and I wouldn’t replace one I didn’t need to in the middle of that, especially not this summer (used car prices tend to be lower in winter).
Right! We went with new because we weighed that adding a car was the right choice for our family with a new baby coming, but the quality used ones were just way overpriced, and we were able to wait a few months.
Other car timing considerations could include: Is this your only car? How important is it to your daily life? I once replaced a Honda Accord that still ran OK and wasn’t costing much to own because it was 17 years old, the transmission was questionable, and I was a single mom- I couldn’t put myself in the position of suddenly having no vehicle. (Also my grandfather, the beloved Frugal Patriarch, gave me ten grand for something less dicey.)
I was just about to ask my vet, actually! Since Emma eats mask straps and my clothes (!!) it’s just a matter of time before she eats something that lands her in the hospital…
Do you have a trusted mechanic or someone who would refer one? I have one and he would be the first person I’d ask. It depends on whether your car has any major parts that might crap out (they also tend to know for different brand/models of cars what kinds of problems crop up) or if it’s just going to be expected minor repairs.
If you can’t find anyone, you might be able to talk to my guy. I’ve known him for years and he’s super nice, might be willing to do a quick chat even if he doesn’t make any money off it.
It was bucketsofrain, but I haven’t seen her update in a while! My mom just started going through this process, and she went through a local Italian-American club/organization in her city, and they had a program where they handle everything for you/had lawyers to help for one flat fee. I think for her it’s $1200, though I’m sure it varies based on location. You can also DIY it, but it seems more complicated for sure.
This website has been really helpful for finding exactly all of the documents needed: https://dualusitalian.com
One thing we did learn so far, is that once you have all of your information required (which you can find on the Italian consulate website) you must make an appointment at a specific Italian consulate which depends on the state you live in. So I live in AZ, but the AZ consulate is not an official one that handles citizenship (Consulate General), so I have to fly to Los Angeles when the time comes for my appointment. I think there are 6-7 consulates in the US that handle dual citizenship/Italian passports. This link has them listed Italian Consulate Locations in USA | Dual Citizenship Appointments | IDC
That’s so kind of you, thanks! I have a mechanic here but I am a somewhat low trust person when it comes to these types of things, haha. I like to cross check everything and independently verify, etc. etc.
I did ask him about preventative things and I think I’m building good rapport with him so it’ll get easier but previously DH was doing all this and he’s just not the most suited to this kind of thing, haha. So I’m kind of stepping in midway and taking it over. And it only took me a couple of years of convincing to get him to agree to it, lmao.
I think the specifics really matter when it comes to cars and spending money. For example, if you got a new transmission, that’s a one-time expense and then you’re likely never going to have to worry about it again. But if you got a repair, maybe it could crap out again. So I wouldn’t make the decision based on how much you’ve spent on the car, but rather based on its current condition. Also, as others have mentioned, right now is an expensive time to get a replacement vehicle. I’d use your mechanic as a starting point and then you could verify what he says online
@meerkat I emailed my vet and got a form letter response from the front desk. Last I talked to her about this when we got the kittens two years back was that she used to recommend Trupanion, but they had just been acquired by another company at that point and she didn’t know if they would still be as good.
But here’s the email:
There are a variety of plans and providers available, so it’s important to research them thoroughly to see which one will work best for you.
A good place to begin is Comparing Kitten & Cat Insurance Plans.
Many of our clients use Trupanion, PetsBest, HealthyPaws, and Pumpkin Pet Insurance. Please let us know if you have other questions.
@meerkat we have Healthy Paws and I love it! They have saved us tens of thousands of dollars (literally, not an exaggeration). It’s easy to use and they usually reimburse within a few days. We send them receipts after treatment, so we don’t have to worry about a clinic taking it or not.
In general, pet health insurance is really strict about pre existing conditions, but that’s already on your radar. Most plans don’t cover preventative care, so no vaccines, well visits, and flea/tick meds. They do cover tests and prescriptions, as long as they’re not behavior meds. I don’t know how senior dog stuff factors in so I’d definitely look into those specifics.
I recommend not using Lemonade, since they require a lot more documentation to submit claims.
No dental covered at all, at least for us. When we looked into it, there was only one company that covered any dental (don’t remember which, but could dig it up if anyone would use it).
We are in the process for my husband now! When looking for a lawyer, our main thing was we wanted someone who could do the Italian translation and notarization for us. We ended up going with Get Italian Citizenship, since they do this and were cheaper than some other options. The owner, Audra, also helps people out a lot on Facebook groups so I felt a bit safer going with her. We paid $1750 up front and will pay $1750 at the end (we have a very straightforward case where my husband’s father was born in Italy). People can do this process alone, but it takes more time and energy. This whole process usually takes a few years in the states; it can be way faster to do it in Italy proper. And we are only doing it for my husband; I won’t be eligible until 3 years after he gets his citizenship. Definitely playing the long game.
Are you eligible even if you’re both living in the US? As far as I know my husband isn’t eligible for my Irish citizenship until he’s lived in Ireland for 3 years
haha) I would have had to replace the entire engine. So now I just go in no matter what!