AFSCME 3357-HOF'S BLOG

Midsize Wars - take One
2004 Chevy Malibu

The first reviews are in on the 2004 Chevy Malibu, which should be hitting the dealers about as you read this. Generally the reviews are good.

MARK PHELAN: '04 Malibu can trade punches with Accord

Chevy needs a hit. Still, it's a very competitive segment. I'm looking forward to driving a Malibu. Over the next few weeks I hope to pick up my car commentary concerning cars that we can (and sometimes can't) drive to work -- if you know what I mean.

Let me preface by saying that I'm Huffingtonian in my opinion of SUVs. I suspect that the average SUV owner spends more just on the difference between an SUV and a normal sensible vehicle than that person puts into his/her 401(k).

I talk to several hundred autoworkers every year who are considering bankruptcy. Virtually all of them make 50-100k per year, plus whatever their spouses' make, and the majority of them have truck & SUV payments that they can't afford.

Here's Hof's rule regarding SUV's and personal finance:

If you haven't put at least $3000 of your own money into your 401(k) this year, you can't afford an SUV.

When you think about it, you'll know I'm right.