Dave is going to be very angry with me. We broke one of his rules. We bought. . .gasp. . . a new car. You may remember my post, Trying to Live Frugally, where I explained how and why we are trying to get out of debt. We are, still, attempting to get out of debt as quickly as possible. And, hopefully never to incur credit card debt again.
We had a plan--a la Dave--to save up enough cash to buy a used car outright. We thought we'd be living with my mom for a little while. Then, my husband got a job, then I got a job. So, now we really need two cars (unfortunately we live in a two car city).
We figured instead of saving cash, we'd get a cheap-ish used car and finance it. This way we could still pay it off pretty fast. My husband really wanted a small suv--so he can tote his music equipment around and it would be a good future family car. Plus, he's a tall guy and cars aren't as comfy as a suv or truck.
So we go look. Most of the suvs in our first price range were, well, crappy. So then we looked at ones a little nicer--which were much more expensive. There wasn't much of a in-between.
Then we got to thinking: Why buy a used car that will only last us a few years when we could spend 6-7 grand more for a new one that would last ten years? We both have decent salaries now, and my car is paid off, so really, we can afford it.
We didn't want more debt, but our goal is to pay the loan of super early and not have another car payment for several years after--or ever! After looking around, we got a great deal on a 2011 Nissan Rogue crossover--it an suv style with a car's gas mileage. We got a base model with no bells and whistles, got great financing, and a lifetime warranty on the engine and transmission!
Yes, we have more debt to add to the pile, but we do have a car that will last us ten years. And, we know it doesn't have any problems versus a used car that may windup having serious issues.
We prayed a lot about our decision and consulted with our parents. And, we feel like we made the right choice!
Do you buy used cars or new ones?
Must say, I was pretty shocked to hear you bought a brand new car - mainly because of how much you talk about being free of debt, but good for you for changing your mind, talking to God and going for it regardless of what you previously preached!
ReplyDeleteThanks, Jen! We'd like to be debt free, of course, but sometimes you have to put logic first!
ReplyDeleteExcuses, excuses . . . :)
ReplyDeleteWe buy used cars and we are determined never to have a car payment ever again. (What can I say, Teddy really loves Dave.) I also firmly believe that it's NEVER less expensive to buy a new car than to maintain a used one, but sometimes you do sacrifice in the niceness department. It sounds like you guys wanted a nice car more than a cost-effective one (nothing wrong with that), thought and prayed about your decision, and made a choice you're comfortable with and can afford. Plus, it's an awesome car and I can't wait to ride in it!