Rationalizing a Car Payment

Several weeks ago someone backed into my car, denting the driver side door and damaging the handle. Now I can’t open the door from the outside. I just love having to go around to the other side of the car, reaching through and opening my door from the inside. The adjuster came out, looked the car over and wrote me a check for $2,000.00. Now I’m stuck in a dilemma.

The Dilemma
The car is ten years old, has almost 200k miles on it and has been hit at least three times. The number of wrecks it has been in might be more, but my wife refuses to own up to some suspicious dents that have just shown up over the years. It is either her, or my 12 year old son taking it out for some joy rides.

I am now faced with needing (small “n”; not like needing air or water) to buy another car. If I scrape together all of our extra funds I can come up with about $5000.00. I can either buy an older car without a warranty outright, or I can use the $5000.00 as a down payment and finance another $8,000 and get a slightly used car with a warranty and fewer miles. But I would a car payment.

The Resolution
The resolution to this dilemma should be easy. It should go something like this: (1) we have been counseled by prophets of God to get out of debt (see Provident Living); (2) there are exceptions to this counsel, but a car payment is not one of them; (3) adding a car payment would be the opposite of getting out of debt; (4) do not add a car payment. Buy a used car outright or keep my car and try to fix the door myself; (5) if the kind, gentle counsel of the prophets is not good enough, Dave Ramsey would call the decision to have a car payment STUPID. Don’t do it.

The Rationalization
Despite knowing full well what I SHOULD do, I still have some pretty good rationalizations for getting a newer and nicer car. Rationalization No. 1 – What happens when my wife drives the car? I need a car that won’t break down on my wife leaving her and my kids stranded in the middle of nowhere. My wife, by the way, is opposed to a car payment. Rationalization No. 2 – I am an attorney by trade and I need to give off the appearance of prosperity to my clients. Rationalization No. 3 – A more expensive car will likely last longer and, therefore, actually cost me less over the long haul. The assumption is that an older, cheaper car will need to be replaced again in a couple of years.

So you can see that I have put some serious consideration into my rationalizations. In fact, I bet you even agree with some of them. But in the end, I know that the prophets are right and I WILL NOT take on a car payment. I just need to repeat that last sentence several hundred times until my resolve is complete.