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money saving tip #4

June 19th, 2014 at 04:05 am

Drive car until wheels fall off. But sell if it doesn't fit your needs, not wants, NEEDS!

Strangely enough my mom and MIL have both driven cars for about 20 years. My mom is still driving her 96 Toyota Avalon with about 90k miles. And my MIL last car was a 86 Diesel Jetta she sold in 2006 with 200km because she has trouble seeing and she rarely drives period.

As it is in 2012 I got rid of my 1st car a 98 Corolla bought in 99. I felt pain in my heart as I let of the old me. The college me. The young, fun, cute, and carefree me. I drive a 2010 subaru outback for my two kids. Not having a car payment did a huge boost to our budgets. My DH and I both hadn't had car payments since 2003 until 2010.

DH got the Outback in 2010 when his 2000 Ford Focus basically burst into flames. Yeah that American car experience was not a good one. And with one kid I drove my corolla until we had our 2nd kiddo.

Then my DH wanted a bigger, safer car. I would have preferred him driving my corolla but he wanted something bigger. So we compromised and bought a used 2006 hyundai sonata with low mileage. It had side airbags, latch, and abs. I mean it did hurt my frugal heart but alas marriage is about compromise.

Now we have two car payments due to be paid off 8/2015. $385 and $200 a month. Ugh. And we spent $10k and $20k on our cars. I can guess how much monthly people are paying driving around in $50k+ cars. It truly is a money pit.

But if everything goes to plan...In another year or two we'll buy a minivan and replace the Sonata without a car payment. We started setting aside the $400/month to replace/repair our cars ever 6 years. And the subaru will be inherited by our kid when she turns 16.

I have to say I'm still torn about used versus new. Our used car has been decent but in the 2 years needed calipers done along with brakes and rotors. I don't know if its because it's a hyundai versus a toyota/subaru so the reliability is the issue, instead of it being used.

But the minivan? We'll see where we are financially. I'd like to pay off the cars this summer but we'll see.

3 Responses to “money saving tip #4”

  1. creditcardfree Says:

    Good tip! We have two 2007 Hondas (Ridgeline and Odyssey) bought used that are treating us very well. No regrets on used and we hope to drive them at least long enough to get our girls through college...another 8 years.

  2. My English Castle Says:

    We've never had a car that we got less than 100K miles out of. And they were all bought used. My current wagon has 90K on it, and I want another 50K at least out of it.

  3. LivingAlmostLarge Says:

    I will say that our experience with a 2000 Ford Focus hatchback was TERRIBLE. It needed so many repairs by 2010 it was needing another $2k in repairs and we sold it for $2k to a guy who liked working on cars. It had about 110k miles but the engine valves were twisted and needed to be fixed. I can directly compare it to a 1998 corolla we owned and never had a problem with other than routine maintenance like oil changes, brakes (1x! instead of 3), etc. The only thing is the clutch didn't go in the focus. But who knows what happened. After that experience we just won't buy american again and prefer japanese, but our hyundai seems okay. The subaru is truly superior though you can tell and it appears to be just as reliable as the toyota

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