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.
posted by Nolelaw @ 6:44 AM
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4 Comments:
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Hey Travis,
How are things going for you guys in Cairo?
Jeremi forwarded me the link to your newest blog. I enjoyed reading the entries and thought I would chime in with my ideas on the automobile purchasing issue.
A couple years ago I owned an Isuzu Trooper that ran very well until it hovered around the 100,000k mile mark. Even still, the mechanical components of the vehicle ran great, but the modern age sensors began to fail left and right at a cost no less than $100 per sensor. I have made an effort of late to become as self reliable as possible, to include automobile maintenance/repair. So, every time a sensor failed I utilized Checker Auto Parts to help me diagnose the issue and then I went about the repairs on my own.
I eventually had the rare opportunity to replace a mechanical component, the starter, that was ten years old and had served its purpose very well. I had changed starters before and looked forward to removing two bolts, disconnecting the electrical connection and then doing the reverse to install the new starter. Well, after an hour I finally had the starter removed from the automobile, but I was unable to extricate it from the cavity it was enclosed in by the exhaust pipe. After a few calls I was told that the exhaust pipe would have to be removed to complete this repair. I humbly drove the Trooper to Midas Muffler, where they cut the exhaust pipe, removed the starter, installed the new starter, and welded the exhaust pipe back into place at a cost of $140 in labor. Additionally, the new starter ran $120......total repair cost of $260.
This repair was my tipping point. I went back to the drawing board and composed a few criteria for my next vehicle. 1) easy to repair 2) inexpensive parts 3) availability of parts 4) no financing
I'll never forget the Moab trip you and I and Carter took in his 1978 Jeep CJ5. On that trip, I fell in love with the Jeep for many reasons, none of which are included in the above three vehicle criteria. As luck would have it, my long love met all of those criteria.
After much searching, I found my stock 1982 Jeep CJ7. I'm not sure God cares what kind of vehicle I drive, but I will never deny that I truly felt “guided” in this purchase. When I popped the hood I could see everything. I could reach everything! There was room to move. As luck would have it, the starter on this Jeep was on its last leg. I drove the jeep home and after much admiration, I timed myself in the changing of the starter. I kid you not, I removed the started, drove to Checker and purchased a new starter, drove home and installed the new starter in one hour.....recalling the time required for the Trooper was one hour just to realize I needed professional help! And, the life time warranty starter for the Jeep cost me $37, compared to the Troopers $120! That savings goes a long way towards gas money.
I paid 3K for the Jeep and immediately went to work investing in repairs to bring the old girl up to par. Eighteen months later, I have a total of $5400 into the vehicle (purchase price + repairs) and I wish there was something more to do on it. I would comfortably drive it to Florida tomorrow (from Utah)! I actually did take it on a long road trip to Nevada a couple months ago and I never hesitate to drive it considerable distances. I may bore you with the following details, but these are the things I've upgraded or repaired:
part 2
front brakes, rear brakes, starter, alternator, new tires, windshield washer pump, new valve cover, belts, hoses, shocks, wiper blades, gas tank cradle, herculiner, new rear seat, new bikini top, seat covers, specialized tools, taxes, inspections, and the smaller things like oil changes, filters, transmission/differential fluid changes. Additionally, registration/taxes are $25 per year and the insurance is cheap.
I was patient and found a jeep body that only had a few rust holes in the floor, but no worries! When I need a new tub I plan to buy a fiberglass tub, hood, and fenders that will never rust for $2300. When the frame rusts out, I plan to buy a new frame that is galvanized and will last my lifetime for another $2300. I got lucky on the motor. I didn't have a clue what a compression test was when I bought the Jeep, but I have since performed a compression test and the motor is in excellent shape at 154,000 miles. That being said, when the motor does fail I plan on running down to Checker Auto Parts where they will sell me a new motor for $1500 that comes with a 5 year and 60,000 mile warranty!
Another reason for buying the Jeep was to help me get a better understanding of automobiles through hands on, need based training. I've done all the work on it thus far and never plan to turn it over to a mechanic. I do have a buddy who helps me diagnose issues, but he has yet to pick up a wrench and I hope to keep it that way. I'm certainly no mechanic, but I can change out components. And that motor from Checker, all you have to do is bolt the valve cover on top and the oil pan on the bottom and it is ready to go!
Whenever I have the option I pay a little extra for the lifetime guarantee parts. I specifically asked them if they will replace the life time warranty parts until the day I die at 110 and they said YES. Thus, I'll never again pay for another starter, alternator, or shocks.....more parts to follow!
Thus far, I have become very well acquainted with the Jeep and the love is still strong. Inexpensive, debt free, dependable, FUN, easy to maintain/repair, and an abundance of aftermarket parts! And, you may even be able to trick it out to make it a reputable vehicle for a prosperous attorney to hold his head high in while driving!
Back to the spiritual side of things with the blog, if you're taking requests, I'm hoping to see more doctrinal related material on the blog. And, I have a few topic suggestions if needed!!! In my personal scripture study I have come across a few things that I consider to be clear and easy to understand, but when I discuss these scriptures with my no non-sense/common sense point of view....well, it gets the folks thinking hard or putting their heads in the sand....neither of which has generated any testimony building responses.
I won't think less of you if you don't go out and buy a Jeep tomorrow......these things take time!
Take Care Travis. I'd enjoy hearing from you if you have a minute.
Preston
P.S. Say hello to Amy for me and don't buy any jeep newer than 1986....that's when the computers/sensors started complicating things!!!!
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