1. I can’t quit my job.
2. I can’t get fired.
3. I can’t go to Europe next year. (got an invite)
4. I can’t go to Beirut next year. (got an invite)
5. I can’t go to California for Christmas. (to *snorgle* my nephews)
6. I can’t go to California for Christmas next year. (to *snorgle* my nephews some more)
7. I can’t pay off all my credit cards this year.
Boyfriend is afraid that my Altima is a ticking timebomb and further challenges await me in car repairs. He’s probably right. But I only have 60,000 miles left to go before I have a 200,000 mile car and prioritizing that milestone is delaying my new car purchase in a good way.
Currently I have cut back on my 401k contribution in anticipation of paying cash for my condo renovation and possible car purchase. I’m waiting for the 2010 models to come out in August and September. I figure the money I save up throughout the summer can either go towards a new car down payment or pay off my credit cards.
I’m still not sure I am getting a new car, but I am sure of the car that I want.
It’s killing me to think I am going to have a car payment. However, most of the car forums I’m reading say not to buy used for the car I want because most of them are beat to hell by their owners. Used is not an option unless I want to compromise exactly what I want (a 6-speed) to get a lesser trim package that costs a lot less or a different car entirely.
I’ve figured out that I’m the kind of person who *should* buy a new car because I’m going to keep it for a decade and probably take it to 140,000+ miles again. I’m that guy. (er, gal.) That’s why I really want to make sure the car is exactly what I want.
There’s a whole other argument going on in my head about used vs new. But that’s another post.
Related posts:
- Scrooge I Am Not How much are the holidays costing me so far? $1560...
- Buying an Air Filter for My Car I had an interesting experience at Advanced Auto Parts. I...
Related posts brought to you by Yet Another Related Posts Plugin.
{ 10 comments… read them below or add one }
I hear ya. I haven’t regretted my new car in 150,000 miles. Aiming for 225,600 which is the distance to the moon (at its closest point).
I love how people justify buying new cars over used (how much can a car get “beaten to hell” in a year, for example). The biggest drop in value over the life of a car comes as soon as you drive it off the lot, and that’s a guaranteed loss versus a potential loss of repairs when buying used. I’m all for people buying new cars if they want, as long as they understand why they’re doing so (that new car smell, ick factor of other people having driven it, finding the exact car they want, etc), but I’m highly suspicious of saving money due to less repairs.
the best bang for your buck is a 1-2 year old car.. they lose so much of their value the minute you drive it off the lot. And not everybody beats up their cars. All my purchases have been from dealerships, 2 years old, and haven’t had 1 issue yet. Not to mention I end up saving myself over $10,000 everytime, and really a 1 year old car feels like it’s brand new..
just a matter of priorities i guess.. nothing wrong with keeping a 1 year old car with 15,000 miles for 150,000 miles..
First of all, I would wait as long as possible before you purchase a new car. As long as your old car isn’t costing you too much money in repairs, I would keep it until the wheels fall off. While you are doing this, I would continue to save as much as possible towards your new car.
I agree with Zeromoney, I would go for a 1-2 year old car and let someone else take the hit for the depreciation.
If you do buy a used car, make sure you get it thoroughly checked out by a reputable mechanic and you should be ok.
It looks like you will have to give up a lot of fun and important things if you buy a new car. If I were you, I would buy a gently used car and not get into too much debt just for a car. During the last 10 years, I always had company cars all brand new and shiny at one point even a Mercedes C200. I quit my job two months ago and bought a 2000 Honda Civic with 80,000 miles from my uncle. It is in great condition. It does what it is supposed to do so why buy new?
You should buy a new or 1-2yr old car if:
(1.) You live or transit through a high crime area.
(2.) You will need to drive cross country in the car. Don’t want to break down in the middle of no where and incur the associated costs.
(3.) You sacrifice in all other areas of your life and have zero debt. Racking up a ton of money is never cool if you can’t enjoy it every now and then.
That said, we got rid of my wife’s car at 160k miles (driving thru rough areas of Memphis). I’m getting rid of my car w/ 130k miles in early 2011 since I’m moving cross country.
Somehow I think you have attached too much to the new car purchase. Are you going to quit your job if you DON’T buy a new car? Unlikely, right? Well, if your card is giving up on you, then maybe it’s time to buy a new one (and I really mean a NEW car, not a new used car).
What about leasing?
I would agree with you on the new vs. used. People who buy 6-speeds and sell it in a year or two are the people who drive their cars HARD. You don’t want to buy one of those.
What kind of car are you looking at?
With the tax credit for new cars, I’m not sure that new cars are cheaper than used cars. A lot of articles have mentioned this actually this weird phenomenon.