I have never owned a new car, I am sure it is amazing to drive and have a brand new, never been owned vehicle, and I can certainly see how one would enjoy that experience. But truly, I do not think I will EVER buy a new car. Even regardless of my income, or my savings- I just do not enjoy overspending.
Last month, my husband and I did something we have NEVER done before. Our teenager recently began her first job at a restaurant. Restaurant hours of late nights and weekends coupled with my early morning work schedule meant only one thing. It was time to bring in another car. Finding a car that met all of our criteria and our budget was not easy. But after a few months, a perk of my husband's job building and installing custom cabinetry paid off. At a job site, he found our next vehicle: a 2001 Cadillac Deville with 90,000 miles. Sold. FOR CASH.
In the past each vehicle purchase brought along with it a car payment, which served a very annoying purpose---keeping up poor. Large chunks from our bank account were forked out each month, leaving us some crumbs to attempt to improve our situation. By paying cash for our next vehicle, our monthly budget was not affected at all, but what I think felt even better? Having the freedom to say, "I like that car. I think I will buy it." and driving to the bank to pull out the cash. {A year ago, this freedom would not have been possible. It was only through our serious saving plan we began in May that the money was there in the first place. I do believe I discovered the secret to saving a good portion of money and will blog on this topic next time.)
I understand this is not for everybody, and certainly some readers are rolling their eyes in exasperation at the idea of driving an old car. Whatever will the world think of us?
Here is what I am thinking. Fourteen years ago, this car sold for $43,000. We bought it for $2,000. $41,000 has gone to line the pockets of some corporation. The same thing happens with phones, computers, clothes, toys and still Americans are willing to spend until they are maxed out on these items that will soon be worth close to nothing compared to the cash they spent on them. As for me and my family, we will continue to purchase used when we can to propel our family forward as we continue to build our financial fitness.
What about you? Would you ever buy used?
We had a used car we had purchased and used for several years. Passed it to our child when they were in high school. That car was still working when another parent bought it from us for their child to have. That company surely built good quality cars is all I can say. We were so impressed we decided to buy another card from this same company.
ReplyDeleteI have a 2001 car I purchased in 2002. It was considered used because it was a company car for someone. When the mileage reached a certain number they decided it was time to sell. Great thing the internet. We discovered several of these cars with the same mileage showing up on various lots across the state. Still have this car today. Hope to have it 10 more years.
You do get better deals on used cars. And if they have been serviced and taken care of appropriately they can last a long time. Of course I do believe the less computerized ones have. I do not know how long the cars with all the bells and whistles and computer tech will do.
That is awesome, yes, this particular car was very well taken care of---and it took a LONG time to find the vehicle that was not too old, not too new, just right for the price. I was happy that we waited until the right car came along, so we had the money to "bite" on it quickly. If we were in a hurry, we would have had to go to a dealer, most likely---and with it would have come a car payment.
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