Zoom, Zoom, Zoom!

Cars as we know it are a true American creation. Cars allowed Americans to really be able to traverse our nation and gain some freedom from their neighborhood. Like most things, cars have become a status symbol and the instrument in which to proclaim to the world what kind of person you are.

Some people could care less about what car they drive, but for many, it’s an important aspect of their life and the focus of many aspirations. Where I’m from cars are BIG deal. People notice cars, they ask what kind of car do you drive or better yet, what kind of car do you want to drive.

Me? I’ve never really cared that much about what kind of car I drove. In fact, I drove my last car into the ground. It was twenty years old when I finally retired it- and I still miss that car. The undercarriage was so rusted that my mechanic said it was time to just let her go. So, what do I do when it’s time for me to replace my old trusty car? I get a lease. That’s right, you heard me. I leased my next car. Big. Mistake.

As I’ve stated, the purpose of this blog is to hold me accountable for all of my foolishness. I’m telling you folks, I’ve made some really bad financial decisions in the past. Leasing my current car is one of them. Why did I lease the car? Easy, I had zero dollars to purchase a car outright and zero dollars for a down payment on a used car. How did I get away with walking off of the lot with a brand new car and zero dollars? Contrary to my past financial mistakes, my credit score is pretty decent (it wasn’t always, trust me, but that’s another blog for another day).

So, I walk into the dealership and say, “Hey! I need a car but I don’t have anything for a down payment. This is what I can afford per month.” The car salesman runs my credit, and walks back smiling slyly. He says, “No problem. With your credit, you don’t need a down payment. Sign here and you can drive off the lot.” So that’s what I did.

Fast forward and now I’m really regretting not saving money every month for the last few years to buy a used car outright. First, I’ve spent all of my car-driving life without a monthly payment. Second, my car insurance was minimal due to the age of my previous vehicle. Not only do I have a $230 car payment, but my insurance went up too. Wow, I’m really kicking myself. And to top it all off, I have to watch my mileage like a hawk.

Well, to say the least, I’m now putting money in my online savings account specifically for when I turn this car in. I won’t be in the position where I have zero extra money (all due to my lack of discipline by the way) for my next car.

As much as I feel like a complete fool for not planning for my inevitable car expenses, I know that I’m not alone. I talk to people every day who are driving cars they really can’t afford. For many in my neck of the woods, these are their dream cars and they don’t care what the total cost incurred is. Some people are paying $500 or more a month for their car! I mean, in many locales in the Midwest, $500 is sum that can go a long way towards life’s other necessities.

Needless to say, I understand that America is the birthplace to cars as we know it, but many Americans have let their need of having a vehicle overshadow sound judgement.

What kind of car do you drive? Any car buying mistakes in your past?

Advertisements

4 comments

  1. BOO! I totally wrote an entire reply to this post on my phone, then when I hit post, it never posted 😦 I think I’m just going to make a blog post out of it instead lol. I’m sure it was very lengthy.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s