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Would you throw away money on a new car?
Now that the word is out about the new job coming up, people are asking me if I am going to apply. What has been interesting is that quite a few of them, after wishing me all the best, have then commented along the lines “ at last you’ll be able to buy a new car”.Now the first time I heard it I didn’t take much notice. But as the week has gone on I have felt more and more annoyed each time I hear it. Yesterday a friend (who does not work, and is financially independent due to an inheritance) commented about it as well.
“Oh thank God! You’ll be able to afford a decent car at last!”
Grrrr…!!!!
My car is a 23 year Ford. It’s fine. I like it. It likes me. It doesn't break down, or cost a lot of money to maintain. I am very happy with ‘old faithful’ as I call her. I arrive where I am going safely and on time. I got this car as an ex-demonstrator model for a real bargain. It was the newest car I had ever owned and I paid it off in a year.
Sure if someone offered me a new car that would be great! But I am not willing to go into debt for one. So the only conclusion that I can draw is that other people feel uncomfortable about it.
When I go to my old business office (I still have the occasional client), I park in the staff car park. All the others drive very nice shiny flash cars with leases. One has leather interior, a sun roof and everything extra she possibly can. Maybe they feel uncomfortable that mine is a bit faded and worn. Or maybe they think that clients should think that we are all wealthy.
At the other office my car is unique in the car park also. I don’t know, but I am not getting a new car just because everyone seems to think I should. And when I do get a new car I will be paying cash for it.
So I felt really frustrated last night, and it only made me more determined to pay off these debts. I have paid some more money off the tax bill and the Buyers Edge card. This morning I have bagged up $70 worth of change to throw at the debt, and I have my money from writing on it’s way to my bank account.
I need to keep motivated so I have been listening to pod casts and reading blogs. I listened to Dave Ramsey’s dumping debt on you tube and they were really good. And I started listening to one of my favourite pod casts again, The Prosperity Show. There are 81 free pod casts, worth listening to.
Does anyone else out there drive an old, faithful, low maintenance car? I am doing a poll to see how old cars are, (top left).
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11 comments:
A car is just a way of getting from A to B for me Louise. There people probably all have car loans. Ignore them and pay of your mortgage, you'll have the last laugh :)
I never buy a new car. The sweet spot is 3 years old when the most depreciation has hit but the car is still newish.
If you insist on driving a new car for some rare reason, rent one.
Not quite as old as yours lol but I drive an 8 year old car and it doesn't worry me in the slightest. I hope to get many more years from it. Other half is constantly wanting to upgrade which annoys me - he doesn't even drive it much!!
I bought my car in 1999 (new 2000 model) and it has been the best car. Only maintenance has been the 90K tune up I did yesterday. I'll drive that little car as long as it will let me :)
I also get..
now you can buy a newer car
a bigger car
a hybrid car (I get 33 MPG now)
It annoys me too!
My cute little Mazda's going on eleven years old this year. :) She's the greatest to me, really. I'm also a sucker for almost any Porsche over twenty years old!
I drive a 1995 Mitsubishi Lancer, that I bought in 2006 with 188,000km's on her! :-)
It's my first car & I love it, even with all the dents & scrapes I've manage to put on her.
I'm with you, I'm paying cash for my next car and I'll drive this one until it dies completely.
Louise,
About 3 years ago, when times were better, I bought a 2-year old car. With reluctance!
The car I had was a 14 year-old Rover and had started to show the first real signs of age, wear and tear. Up until that point I had really loved it. And it hadn't been expensive up until that point.
I must admit that I bought a really nice car. For the first time.
And it was probably wrong to do it and I still feel some regret, because I couldn't really afford it, and borrowed to buy it.
I'll keep it though and run it into the ground rather than borrow again to buy a new one unnecesarily.
There's little point - it's a just a way of getting from A to B!
I drive a 93 Ford Aerostar extended mini-van and it's the best vehicle I've ever owned. I'm not too keen on how much gas it uses, but it only cost me $1000 USD, and has paid for itself 10 times over. As long as she runs well, I intend to keep her.
Hubby drives a 97 Chevrolet Monte Carlo, and while it's a great car and runs well, if we traded in- that would be the car to go.
I'm with you. I don't want to have to buy another car until it can be paid for in cash. Of course, I say that about buying a house too and that's not likely to happen.
I've driven a 10+ year old car just until recently, the only reason for getting rid of it was because the repairs cost more than the vehicle itself. Only then did I trade it in for a 6 year old model with 95,000 miles on it. I got a great deal and although I financed it, I got an amazing interest rate, low payment, and short repayment term. Vehicles in general are money pits - I will never buy new and the vehicle I just bought I will drive until it literally falls apart.
I just got my 98' Chevy Metro out of the shop but, I love the gas mileage I get.
Recently, I bought a 97' Toyota Tercel and like it also!
I agree with you. When our van was in the shop and our family piled up in my husbands truck for two weeks, all of friends thought we were crazy. But I told them paying a one time fee was a lot less expensive than a monthly payment. Every time I think about the $40,000 we paid for our van I get mad, because that could of been saved money.
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